Exploration & Production | Capital Markets | Capital Expenditure
Kodiak Details 2013 Williston Basin Unconventional Ops
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Kodiak Oil & Gas Corp. has reported that its Board of Directors has approved a $775 million 2013 capital expenditure (CAPEX) budget allocated to Williston Basin oil and gas activities.
Kodiak's preliminary 2013 CAPEX budget is subject to, among other things, market conditions, oilfield services and equipment availability, commodity prices and drilling results. The 2013 CAPEX budget compares to Kodiak's final 2012 CAPEX budget, which was $750 million. The Company also today provided its 2013 outlook for oil and gas sales volumes.
Commenting on the 2013 CAPEX, Lynn Peterson, Kodiak's Chairman and CEO, said: "The 2013 budget reflects our continued confidence in the development of our Williston Basin leasehold. We are very fortunate to be investing capital in a world-class oil play where…
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