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

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
  • Hess in the Media: Unraveling the Bakken's EOR complexity

    Building on the many years of experience it built in its Permian Basin enhanced oil recovery (EOR) operations, Hess began an EOR R&D project in 2015 in the Bakken Shale. In 2016 the company drilled a gas injection and a production well targeting the Middle Bakken at Ross Field in Mountrail County, N.D., in the company's Red Sky acreage as part of the project.
    Full story
  • Hess Announces $1.0 Billion Share Repurchase Program

    The Hess Board of Directors has authorized the purchase of $1.0 billion of Hess common stock by the end of 2018. The newly authorized program is in addition to the $500 million share repurchase program Hess announced in late 2017.
    Full story
  • Hess Announces Seventh Oil Discovery Offshore Guyana

    Hess announced a seventh oil discovery offshore Guyana, following drilling at the Pacora-1 exploration well. The Pacora-1 well is located approximately four miles west of the Payara-1 well, and follows previous discoveries on the Stabroek block at Liza, Payara, Liza Deep , Snoek, Turbot and Ranger.
    Full story