Kraken Operating, LLC is a mid-sized North Dakota Bakken operator with 481 total wells, 396 active, and 399 producing as of October 2026. Its docket footprint spans McKenzie and Williams counties across multiple Bakken pools — Sheep Butte, Winter Butte, Strandahl, Blue Ridge, and Little Muddy. Two cases (33013, 33014) remain continued pending and are scheduled for the October 21, 2026 hearing in McKenzie County, each requesting 8 wells across 2,560 acres; both have been continued three times already. A cluster of Williams County pooling and spacing applications (cases 33086, 33178, 33180, 33181, 33182, 33183) were pending as of September 2026 hearings. Three signed orders have landed since July 2026 covering Buffalo Wallow-Bakken, New Home-Bakken, and Glass Bluff in McKenzie and Williams counties. The operator carries an 86% historical win rate and a momentum ramp score of 5.2.
Kraken has 2 pending cases as of the docket snapshot, both in McKenzie County and both scheduled for the October 21, 2026 hearing. Case 33013 is a field extension application for the Sheep Butte-Bakken pool covering Sections 13, 24, 25, 36 and 14, 23, 26, 35 in T.148N., R.103W. — requesting 8 wells across 2,560 acres, with a progression probability of 37.9%. Case 33014 is a spacing unit application for the Winter Butte-Bakken pool covering Sections 25, 26, 27, 28 and 33, 34, 35, 36 in T.149N., R.103W. — also requesting 8 wells across 2,560 acres, but with a progression probability of only 1.9%. Both cases were first heard July 29, 2026 and have been continued three times. Together they account for 16 requested wells in the upcoming docket. The operator's next hearing date is October 21, 2026, exclusively in McKenzie County.
Kraken's well inventory stands at 481 total wells: 396 active, 399 producing now, and 18 plugged. The low plugged count relative to total wells points to a young or well-maintained portfolio with limited abandonment liability. Work types on record span the full development cycle — drilling rigs, frac crews, frac sand, new-pad dirt and construction, and water logistics and trucking — indicating Kraken operates across all major phases of Bakken pad development rather than relying on third-party operators for any single stage.
Three signed orders have been issued since July 2026. Order 35849 (Spacing Unit Modification, Glass Bluff, McKenzie County) was signed July 17, 2026. Orders 35151 (Spacing Modification and Unit Establishment, Buffalo Wallow-Bakken, McKenzie County) and 35150 (Spacing Order, New Home-Bakken, Williams County) were both signed September 25, 2026. The Williams County order activity aligns with the broader cluster of Williams County applications — cases 33086 (Strandahl-Bakken, T.157N., R.103W., 4 requested wells, 2,560 acres), 33178, 33180 (Blue Ridge-Bakken), 33181, 33182, 33183 (Little Muddy-Bakken) — all of which were new pending applications with September 23, 2026 hearing dates. No named individuals appear in the bundle. No convergence data is present.
Kraken's historical win rate is 86% and its momentum ramp score is 5.2. The average probability across its upcoming cases is 0.199 (19.9%), dragged down sharply by the near-zero probability on case 33014. There are no high-probability cases (mom-high_prob = 0) in the immediate docket. The operator's momentum is concentrated entirely in McKenzie County for the October 21 hearing. No convergence signals — shared acreage, counterparty overlaps, or named-individual connections — appear in the bundle.