Exploration & Production | Top Story | Capital Markets | Capital Expenditure
Kodiak Details Williston-Focused 2014 Spending Plans; Trims Budget
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Kodiak Oil & Gas Corp. has approved a $940 million 2014 capital expenditure (CAPEX) budget allocated solely to Williston Basin oil and gas activities.
The 2014 capital program is expected to drive an approximate 45% increase in year over year production volumes. Kodiak's 2014 capital budget is subject to, among other things, market conditions, oilfield services and equipment availability, commodity prices and drilling results. The 2014 capital budget compares to Kodiak's 2013 capital expenditures of approximately $1.0 billion.
The Company has allocated $890 million of the 2014 CAPEX budget to the drilling and completion of approximately 100 net wells and $50 million for infrastructure build-out, and small acreage acquisitions.
Kodiak expects to fund the 2014 CAPEX budget from…
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