KOG Drilling for Money Making
Each oil company is, of coarse, drilling for profits. However, Kodiak is really working hard to make the cash for the company and their investors. Need some details? Looks no further! Let’s check out the stats put together by Nick Pollari.
KOG is operating 6 drilling rigs with a 24-hour completion crew which is going to help drive this company to produce around 25,000 BOE/d (Barrels of Oil Equivalents per day) for 2012, up from approximately 13,000 BOE/d for 2011. KOG recently acquired an additional drilling rig, bringing the total to 7. In Q4 of 2011 KOG is expected to be selling 7195 BOE/d from 1783 BOE/d in Q4 2010, representing a 300% increase in production in a single year. KOG is also doing an excellent job getting each BOE sold and is expecting 3922 BOE/d sold for fiscal 2011, up from 1290 BOE/d for fiscal 2010. This company has increased its revenue 730% from the end of fiscal 2007 through the 9 months ended in 2011. Earnings will be released on 02/28 with the conference call to follow the next day (02/29). I will be eagerly watching the progress on a few mechanical issues that they experienced last quarter at a couple of wells as well as more accurate projections for the remainder of 2012.
Keep an eye on this production for KOG. If their production stays on route, they could be a wonderful investment. Production is key here, so watch closely!
Quotes taken from report by Nick Pollari, Read the entire article here.
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