Exploration & Production | Top Story | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Kodiak's Bakken Success Lifts Reserves 77% in 2013
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Kodiak Oil & Gas Corp. has reported preliminary unaudited operational and financial results for the fiscal year ended December 31, 2013.
Q4 and Year-End 2013 Update 77% Increase in 2013 Estimated Proved Reserves QuantitiesKodiak's estimated total proved reserves at December 31, 2013 were approximately 167.3 million barrels of oil equivalent (MMBoe), as compared to 94.7 MMBoe at December 31, 2012. The 2013 total represents a 77% increase from 2012's estimated proved reserves on an equivalent basis, and is comprised of 138.2 million barrels of crude oil and 174.0 billion cubic feet (Bcf) of natural gas. The 2013 reserve mix is 83% crude oil, along with 17% associated natural gas. Approximately 46% of the 2013 total proved reserves are categorized as proved developed producing and…
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