Oil & Gas Investor: Bakken Defies Dour Predictions - ..itefinityWebApp_IN_1
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
  • The Bakken Magazine Interviews Hess’ Bakken VP

    A Q&A with Gerbert Schoonman, vice president for Hess’ Bakken assets, was featured in the September/October 2016 issue of The Bakken Magazine. He discussed how Lean helps Hess increase efficiency and eliminate waste, noting that Hess has reduced Bakken drilling and completion costs from about $11 million in 2012 to below $5 million today.
    Full story
  • Hess Named to Dow Jones Sustainability Index North America for Seventh Consecutive Year

    Hess is one of three U.S. oil and gas producers, and the only independent, named among six companies in the Energy industry group.
    Full story
  • Hess to Participate in Barclays 2016 Global CEO Energy-Power Conference

    John Hess, Chief Executive Officer of Hess Corporation, will present at the Barclays 2016 Global CEO Energy-Power Conference in New York on Sept. 8 at 7:45 a.m. ET.
    Full story