Of the seven rigs, one rig is located in each of the Smokey, Koala and Grizzly project areas in McKenzie County, and one rig in Dunn County.
Kodiak plans to open one of the drilling rigs during the first quarter of 2013 and operate six rigs during the remaining of 2013.
The company completed 11 gross (8.6 net) wells in the Williston Basin of North Dakota in US, during December 2012 and in the first 10 days of January 2013.
Kodiak said its program to test 12 wells, as a part of drilling spacing unit (DSU) in the Polar and Smokey operating areas is on schedule.
The firm will drill the Polar pilot project wells from three four-well pads, with six wells targeting the Middle Bakken and six wells targeting the two upper intervals of the Three Forks formations.
Two additional rigs will be assembled on top of the remaining pads later in the first quarter of 2013, while drilling from the first four-well pad has already begun.
Two wells within the company’s Smokey block, one well from the Middle Bakken and one from Three Forks have started producing, while a rig is currently drilling the second of three additional well bores within the same DSU.
Kodiak expects fourth quarter 2012 average daily oil and gas sales volumes to be about 19,000 barrels of oil equivalent per day (BOE/d), while oil and gas sales rates was about 26,000 BOE/d and production rate was about 29,000 BOE/d during December 2012.
