KOG

[dan_s]

Kodiak Oil & Gas announced that its Board has approved a $775 mln 2013 CAPEX budget, up from $750 in 2012; KOG projects to average 29-31K BOE/d in sales volumes for 2013, which would exceed 80% YoY sales volumes growth (KOG) 9.22 +0.28 : Co announced that its Board of Directors has approved a $775 mln 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 mln.

The co also provided its 2013 outlook for oil and gas sales volumes. 2013 CAPEX Budget The Company has allocated $600 mln of the 2013 CAPEX budget to the drilling and completing of 75 gross (61 net) operated wells; $140 mln to non-operated drilling and completion activities for 14 net wells; and $35 mln for other items including water disposal systems, well connections, and acreage acquisitions. The 2013 drilling program is designed to provide flexibility in identifying suitable well locations and in the timing and size of capital investment.

[prince_jake_33]

Our Bakken companies should benefit from the Seaway pipeline
HOUSTON--(BUSINESS WIRE)--Seaway Crude Oil Pipeline Company LLC announced that service on the 500-mile, 30-inch diameter pipeline between Cushing, Oklahoma and the Gulf Coast resumed today, with approximately 400,000 barrels per day (“BPD”) of capacity now available to shippers. Service was suspended on January 2, 2013 so that the remaining pump station connections could be completed allowing capacity to be increased from approximately 150,000 BPD.

[dan_s]

Yes they should. When the southern leg of the Keystone XL pipeline is completed in mid-2014 it should eliminate the bottleneck at Cushing and significantly reduce the gap between WTI and Brent. The Seaway pipeline going up to 400,000 bopd is a big help.