Hess in World Oil: New Sucker Rod Coupling Could Save Millions
Hess Corporation Logo header
SEARCH

Hess in World Oil: New Sucker Rod Coupling Could Save Millions

  • Pumpjacks in North Dakota
06.20.2016

Hess is featured in this month's World Oil magazine for a new patent-pending sucker rod coupling that could save Hess and other operators millions of dollars per year. The invention was developed by Hess and Materion and is expected to reduce annual per well workover costs by $75,000-$100,000.

Hess employees Seth Silverman, Senior Production Engineering Adviser, and Logan Stoner, MR&I Bakken Subsurface Lead, co-authored the article and, along with Chuck Panzer, Senior Reliability Technician, played key roles in developing the innovation. Silverman said that such an innovation couldn’t have come at a better time for the industry, as crude price volatility has driven a great need for operators to increase efficiency, reduce waste and cut costs.

Click here to read the article

Related News
  • Hess Announces Two New Discoveries Offshore Guyana

    Hess today announced positive results from the Tilapia-1 and Haimara-1 wells offshore Guyana, bringing the total number of discoveries on the Stabroek Block to 12.
    Full story
  • Hess to Participate in Credit Suisse 24th Energy Summit

    Hess announced today that John Hess, Chief Executive Officer, will present at the Credit Suisse 24th Annual Energy Summit in Vail on Tuesday, February 12 at 7:30 a.m. Mountain Time.
    Full story
  • Hess Reports Estimated Results for the Fourth Quarter of 2018

    Hess today reported a net loss of $4 million, or $0.05 per common share, in the fourth quarter of 2018, compared to a net loss of $2,677 million, or $8.57 per common share, in the fourth quarter of 2017. On an adjusted basis, the Corporation reported a net loss of $77 million, or $0.31 per common share, in the fourth quarter of 2018, compared with an adjusted net loss of $304 million, or $1.01 per common share, in the prior-year quarter.
    Full story