Low oil prices are reshaping the shale industry in North Dakota. Wall Street Journal reporter Chester Dawson describes how Hess and other operators are becoming more efficient to keep the Bakken play profitable.
Hess has applied Lean manufacturing techniques in the Bakken to reduce completion costs by one-third over the past 12 months, cut the time it takes to frack a well to one day and boosted average initial well production by up to 20 percent. “The slowdown actually has helped convince people of the need to do everything more efficiently," Hess VP David McKay said.
Click here to read "Shale Drillers' Key to Survival: Efficiency"