Kodiak Oil & Gas Corp's daily production has jumped 47 percent since July to "just shy" of 50,000 barrels of oil equivalent per day, the CEO of the Bakken shale fields operator said in an interview. 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 production has followed suit, rising from 34,000 barrels of oil equivalent per day (boe/d) as reported during a July 23 update to "just shy" of 50,000 boe/d today, CEO Lynn Peterson said on Wednesday.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.
Kodiak Oil & Gas Corp. (Kodiak) is an independent energy company focused on the exploration, exploitation, acquisition and production of crude oil and natural gas in the United States. Shares of KOG fell by 1.68% or $-0.185/share to $10.82. In the past year, the shares have traded as low as $6.92 and as high as $9.97. On average, 5611030 shares of KOG exchange hands on a given day and today's volume is recorded at 1422909.
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