Boston, MA 05/21/2013 (wallstreetpr) – Monday’s trading session saw Kodiak Oil & Gas Corp (NYSE:KOG) climbing up by 0.91%. It closed at a price of $8.90 which reached an intraday high of $8.95 before heading down to close at $8.68 per share. The average volume of 6.00 million shares was measured over a 30-day period
Bakken has definitely now become a game-changer for oil production in the United States. Bakken was discovered only in the latter part of 1950s but it is only recently that the play has become economically viable. Producers started development of the play in earnestness only now and it has produced some really notable numbers. There was a surge in shale drilling expenditures in 2011 and. There are now several indicators that there is now a drop in expenses across numerous prominent shale plays in the United States shale. Operators have continued seeing efficiency gains via pad drilling methods, water handling techniques that are more efficient as well as other cost-saving measures.
Kodiak Oil & Gas Corp (NYSE:KOG) reported a 15%-20% drop in well-costs for 2012. KOG is an independent energy company. It focuses on exploring, exploiting acquiring and producing crude oil and natural gas in the U.S. It has developed oil and natural gas proved reserves, asset base. In addition to this, it also has a portfolio of exploratory and development drilling opportunities on different high-potential prospects. These prospects emphasize on oil resource plays.