Kodiak Oil -7.5% on disappointing Q1 results, production guidance cut

|About: Kodiak Oil & Gas Corp (KOG)|By:, SA News Editor

Kodiak Oil & Gas (KOG) -7.5% premarket after Q1 earnings and revenue miss Wall Street estimates, as weather adversely affected activity during the period.

Q1 production of ~34K boe/day was more than 2.5K boe/day below estimates and declined Q/Q, as non-operated slowdowns and weather issues caused delays across KOG's Williston acreage.

KOG cut its FY 2014 production guidance to 39K-42K boeday.