An oil and gas exploration and production company with assets in the Williston Basin of North Dakota and Montana and in the Green River Basin of southwest Wyoming and Colorado, Kodiak Oil & Gas Corp. (KOG) has announced its Q1 2010 financial and operational results. The report includes sales of oil & gas of $5.7 MM.
The press release is quoted as saying:
Oil and gas sales were $5.7 million for the first quarter 2010, as compared to approximately $800,000 during the 2009 period, a 635% increase and a Company record. Kodiak posted a 368% increase in oil sales volumes and a 60% decrease in gas sales volumes for an overall 155% increase in quarter-over-quarter equivalent production volumes. Crude oil revenue accounted for approximately 96% of the total first quarter 2010 oil and gas sales, and crude oil constituted 92% of produced volumes in the first quarter 2010. Production data is discussed further in the “Oil and Gas Sales” section of this news release.
