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Kodiak Oil & Gas Corp. Message Board

  • loftusspc loftusspc Sep 11, 2013 11:43 AM Flag


    Reuters reported at 10:30am eastern that daily oil production for KOG "jumped 47% since July to just under 50,000 barrels of oil equivalent per day". Report were based on comments KOG's CEO made in an interview.

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    • Again currently we’re producing somewhere between 36,000 and 38,000 with expectations to push through to 40,000 by the end of the year and if we accomplish all this we should end up right in the range we put out between 30,000 and 34,000 BOE on average.

    • from the transcript of the Barclay's presentation today

      So at this point September I think we are on strike to meet all these numbers that we’ve put out to everybody. We put production guidance out here 30,000 to 34,000 for the year. And as we move through September we are currently producing somewhere between 36,000 BOE per day and 38,000 BOE per day. So I think we are in good shape and we are excited to get through the balance of the year

    • I got in @ $10.97 300 shares I am buying all I can and so should every body long!

    • (Adds details of capital spend from CEO interview)
      NEW YORK, Sept 11 (Reuters) - Kodiak Oil & Gas Corp's purchase of 42,000 acres of leases in North Dakota's Bakken shale fields last June has helped boost the company's production, Chief Executive Lynn Peterson said in an interview on Wednesday.
      The increase reflects the company's aggressive plan to spend about $950 million this year to drill 100 new wells. Kodiak is the eighth-largest Bakken operator and its oil production has been steadily increasing, despite its relatively small size compared with Bakken peers.
      The company's stock has followed suit, rising 25 percent since January, a boon to hedge funds Paulson & Co and Citadel Investment Group LLC, Kodiak's two largest shareholders.
      Peterson, CEO since 2001, declined to comment when asked if Kodiak is seeking a buyer.
      "We're here to provide value to shareholders," he said, adding he believes Kodiak shares are in "great shape."
      Gross operated production, which includes production from wells Kodiak does not operate but has a stake in, has risen to "just shy" of 50,000 barrels of oil equivalent per day (boe/d) from 45,000 boe/d in August, Peterson said on Wednesday.
      "We're clicking on all cylinders," he said.
      The company bought 42,000 acres of Bakken acreage from privately held Liberty Resources in June.
      Peterson said Kodiak has "no need" for more land deals, but is keeping an eye on potential buyouts.
      "Truthfully, quality acreage is mostly gone" in the Bakken, he said.
      Kodiak has focused on developing land it believes has the most potential to produce oil and natural gas for an extended period of time, not just at quick spurts initially, a factor known as "initial production" in the energy industry.
      "We don't worry about initial production too much," Peterson said. "You can usually get a well to do whatever you want at first."
      Denver-based Kodiak has modeled many of its operations estimated crude prices around $91 per barrel.
      "I like (oil prices) in the $90 to $100

    • (Corrects CEO statement to show 50,000 boe/d is gross, not net, production and fixes comparison with July 23 figure)
      NEW YORK, Sept 11 (Reuters) - Kodiak Oil & Gas Corp's net daily production has risen 7 percent since July to 36,454 barrels of oil equivalent per day, the CEO of the Bakken shale fields operator said in an interview.
      Gross production, which includes production from wells Kodiak does not operate but has a stake in, has risen to "just shy" of 50,000 barrels of oil equivalent per day (boe/d), CEO Lynn Peterson said on Wednesday.
      The company, the eighth-largest operator in North Dakota's Bakken shale fields, is spending about $950 million this year to drill 100 new wells.
      Its net production has followed suit, rising from 34,000 boe/d as reported during a July 23 update to 36,454 boe/d.
      The company bought 42,000 acres on Bakken acreage from privately held Liberty Resources in June.
      North Dakota has experienced a surge in output after tapping into the giant Bakken shale formation which straddles the U.S. and Canadian border, turning the region into the second-largest oil producing state in the United States.

      • 2 Replies to p_fortyseven
      • very important distinction:
        Gross production: Production before deducting royalties.
        Net production: Gross production, less royalties, multiplied by the fractional working interest.

        Still very good news. Looking at the dmr info Kog will release from confidential list the following number of wells per month thrugh the end of 2013: 7 in sept, 5 in oct, 4 in nov, 11 in Dec (note--sept # does not include wells already released)

        If they keep hitting ~2000bopd i.p. wells and average over 500bopd per well for the new wells (including depletion) between now and the end of the year, moving past 50000 boepd by year end looks very likely. Of course, that calculation also assumes that KOG has ~100% WI in those wells.

        Sentiment: Strong Buy

      • Not sure what he is getting at. As I read it total operated and non operated production for Kodiak is just shy of 50,000 boepd. That would mean that Kodiak net share of production is just shy of 50,000boepd

    • Here is the link:

      Sentiment: Hold

14.72-0.82(-5.28%)Aug 1 4:03 PMEDT

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