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

Oil & Gas Investor: Bakken Defies Dour Predictions

  • North Dakota operations
08.02.2016

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

Related News
  • Hess to Participate in J.P. Morgan U.S. All Stars Conference

    John Hess, Chief Executive Officer, will participate in a Fireside Chat at the J.P. Morgan U.S. All Stars Conference September 15 at noon Eastern Time. A live webcast and a replay of the discussion will be accessible via Hess Corporation’s website.
    Full story
  • Hess Announces Oil Discovery at Redtail, Offshore Guyana

    Hess today announced another oil discovery offshore Guyana at the Redtail-1 well, the 18th discovery on the Stabroek Block, which will add to the previously announced gross discovered recoverable resource estimate for the block of more than 8 billion barrels of oil equivalent.
    Full story
  • Hess to Participate in Barclays CEO Energy-Power Conference

    Hess announced that John Hess, Chief Executive Officer, will present at the Barclays CEO Energy-Power Conference in New York on September 9, 2020 at 8:25 a.m. ET.
    Full story