Oil & Gas Investor: Bakken Defies Dour Predictions
Hess Corporation Logo
SEARCH

Oil & Gas Investor: Bakken Defies Dour Predictions

  • North Dakota operations

The cover story for the August issue of Oil & Gas Investor takes an in-depth look at the Bakken and how the play remains a stalwart for Hess and other operators, despite predictions by some that the current price environment would spell doom for oil and gas production in North Dakota.

The magazine found that “producers were considering at second-quarter-end how they would deploy a price-lift windfall—rather than just managing for their survival.”

Hess is advantaged in that its 575,000 net acres are concentrated along the Nesson Anticline and it has 40% more drilling spacing units in the core than any other operator, Greg Hill, Hess President and COO, told the magazine in a recent interview. “We could drill 12 rig years of inventory in the core of the core at $40 that generates a 15% return or higher.”

In January of 2015, as WTI was about $47, Hess Corp. was certain of its plan for the Williston Basin: It would keep drilling, the article reports, and keep completing. It still is.

Click here to read the article

Latest Hess News
  • Upstream: Hess Checks Off Stampede Installation

    Hess has ticked off another milestone in its progress to first oil at the Stampede development in the US Gulf of Mexico, having completed installation of its tension-leg platform offshore. The US independent also said hookup activities had begun for the development in Green Canyon Blocks 468, 511 and 512.
    Full story
  • Hess’ 2016 Sustainability Report Shows Continued Progress in Safe, Responsible Business Practices

    Hess published its 2016 Sustainability Report, providing a comprehensive review of the company’s strategy and performance on safety, environmental, social and governance programs and initiatives.
    Full story
  • Hess Reports Estimated Results for the 2nd Quarter of 2017

    Hess Corporation reported a net loss of $449 million, or $1.46 per common share, in the second quarter of 2017 compared with a net loss of $392 million, or $1.29 per common share, in the second quarter of 2016, reflecting a lower effective tax rate in 2017 from the required change in deferred tax accounting.
    Full story