Kodiak Oil & Gas

For the archives. Kodiak is no longer an operator in North Dakota.

• 4Q14: KOG deal with Whiting closes. Whiting owns KOG. KOG ticker symbol no longer for Kodiak Oil and Gas. 
• 2Q14: 38,271 boepd; sale of KOG to Whiting, pending; four rigs, but should be back to 7-rig program by end of 2014; transcript;
• 1Q14: average: 34,000 boepd;
• 4Q13 average: 36,100 boepd (18,200 boepd 4Q12); 183,000 net acres (173,000 in ND); sold 19,500 producing acres for $68 million (mostly in SW McKenzie County)
• October 2, 2013, transcript: 195,000 acres; all in North Dakota; 7 rigs; guidance - 30K to 34K bopd production by end of the year
• June 3, 2013: Buys Liberty Resources: 42,000 net acres; 6K boepd production; 1 rig; $660 million cash; 196,000 net acres after acquisition
• 1Q13: 21.7K boed (11K boed one year ago); crude oil, 88%. Beginning March, 2013, one full-time, 24-hr completion crew; will add a second crew in May, 2013; 7 operated rigs 9same); all in ND; continues with 12-well-test on a 1280-acre spacing unit in Polar/Smokey operating areas with two rigs operating in each area.
• Update: July, 2012, corporate presentation: Production: 10,578 boepd (average -- 1Q12)
• 155,000 net acreage in the Bakken after January, 2012, closing on North Plains Energy, LLC, assets 
• 7 operated rigs 2Q12, 1-2 non-operated rigs; expect to hold all leases by production by mid-2013; two 24-hour frack spreads (still true as of January 10, 2012, press release)
• Decline rates based on long lateral EURs of 650 - 850K bbls
• Exit 2011: 9,000 (est 3Q11) (was 11,000 boepd -- estimate as of October, 2011)
• Mid-2012: 24,000 (est Nov 11; after North Plains acquisition); exit 2012, 30,000 boepd
• will add 2nd dedicated frack crew in 2012; one dedicated HAL fracking crew as of 1Q12
• JV partner with 2 rigs; 50% WI
• Total Bakken net acres: 93,500 net acres (ND: 85,000 ; MT: 4,500 acres)
• November, 2011 announcement, acquisition: Divide County, McKenzie County, 50,000 acres
• Prior to the June 30, 2011, acquisition: Total Bakken net acres: 70,000 net acres (Dunn County: 35K; McKenzie County: 35K)

• Koala -- McKenzie (Western Trend); 10,000 net acres; 7 wells/spacing unit
Koala Prospect: southeast of Williston, south of river, Williams Count (10,000 net acres); with current drilling program, all of Koala will BHP by 2012 end
• Polar - Williams Country (North Flank Trend); 16,000 net acres; 7 wells/spacing unit

Polar Prospect: northern and southern Divide; just north of BEXP's Rough Rider;with current drilling program, all of Polar will BHP by 2013 end

• Grizzly - McKenzie County (SW Bakken - TF Trend); 25,000 net acres; 7 wells/spacing unit

June 30, 2011 Acquisition -- East Grizzly Prospect: far southeast end of Elm Coulee on ND side (22,000 net acres); previously about 4,000 net acres in this area, the far southeast end of Elm Coulee on ND side

• Dunn County (Eastern Trend), FBIR; 34,000 net acres; 7 wells/spacing unit

Dunn County Core area: northeast Dunn County, south of river (west of river), FBIR (34,000 net acres); 800 - 900K EURs; $10.5 million;

• Smokey - McKenzie County, 16,000 net acres; 7 wells/spacing unit

• Smokey Prospect: McKenzie County, old -- 11,742 net acres; between their acreage on the reservation and the newer Koala Prospect area and just to the west of the southern tip of the Nesson Anticline (16,000 net acres); with current drilling program, all of Smokey will BHP by 2012 end

• Wildrose:  5 wells/spacing unit
• Sheridan County, Montana: 4 wells/spacing unit

• Jan 2012 Acq - Williams and McKenzie; 50,000 net acres

• (Other Williston Basin: Montana, northwest of Williston, Sheridan County, 4,500 net acres)

• Corporate presentation, December, 2011:  155,000 net acres
• Analyst's number, December 31, 2010: 72,000 net acres