Kodiak Oil & Gas Corp. Announces Second Quarter 2012 Sales Volumes and Updates Williston Basin Operations
Kodiak Oil & Gas Corp. (NYSE: KOG), an oil and gas exploration and production company with primary assets in the Williston Basin of North Dakota, today announced preliminary unaudited financial and operational results for the second quarter ended June 30, 2012.
Kodiak has prepared the preliminary information based on the most current information available to management. Its normal closing and financial reporting processes with respect to the preliminary financial information have not been fully completed. As a result, its actual financial and operational results could be different from this summary preliminary data, and any differences could be material. Kodiak expects to release its second quarter 2012 operational and financial results news release after the close of trading on Thursday, August 2, 2012.
Second Quarter and First-Half 2012 Production and Sales Volumes
For the second quarter 2012, Kodiak reported average sales volumes of 12,696 barrels of oil equivalent per day (BOE/d). This represents a 385% increase over sales volumes of 2,618 BOE/d for the second quarter 2011 and a 20% increase over first quarter 2012 sales volumes of 10,578 BOE/d. Crude oil accounted for 90% of second quarter 2012 sales volumes.
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