Kodiak Sets Production Casing on Masterson Prospect

Kodiak Oil & Gas reports that production casing has been set for a completion attempt on the Masterson Federal No. 24-11 well in Sweetwater County, Wyoming. The well was drilled and cased to a total depth of 6,970 feet. During drilling operations three porous sands were encountered in the Second Frontier Formation at a depth of 6,234 to 6,288 feet. Two porous sands in the Muddy Formation were encountered at a depth between 6,770 to 6,810 feet. No cores or drill stem tests were taken; however, good shows of gas were detected and recorded during drilling. Completion operations include the perforation and fracture stimulation of the porous zones. The well is within a half mile of an existing pipeline and will be completed and connected as soon as services are available.

The well is a half mile step out from the Prenalta Govt 43-24-20-102 well drilled in 1970. The well penetrated 18 feet of Lower Muddy channel sandstone and was completed with an initial potential of 5.5 million cubic feet gas per day (MMCFGPD) and produced 577 MMCFG before being shut-in during March 1992 while still producing 250 MCFGPD.

Kodiak has a 40% working interest in the well and 2,954 acres with an option to earn under an additional 960 acres within the Prospect area. Fancher Resources LLC, Denver, Colorado, is operating the well.