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 Credit Suisse Energy Summit

    Hess announced today that John Hess, Chief Executive Officer, will speak at the Credit Suisse 26th Annual Energy Summit on March 1, 2021 at 8:10 a.m. Eastern Time. A live audio webcast and a replay of the presentation will be accessible via Hess Corporation’s website.
    Full story
  • Hess Commitment Recognized by Bloomberg and the Human Rights Campaign

    Hess has been recognized on both the @Bloomberg 2021 Gender-Equality Index and the @Human Rights Campaign’s 2021 Corporate Equality Index for our commitment to diversity, societal changes that address racial inequities, and being inclusive. The Bloomberg GEI tracks the financial performance of public companies committed to supporting gender equality through policy development, representation, and transparency. The HRC assesses LBGTQ practices at companies for the Corporate Equality Index. The CEI helps guide the wide-scale adoption of LGBTQ-specific practices and language within existing business structures.
    Full story
  • Hess Donates $2 Million to Houston’s Winter Storm Relief Efforts

    Hess today announced that it is donating $1 million to the Houston Harris County 2021 Winter Storm Relief Fund and $1 million to the Houston Food Bank following the severe winter storm that has significantly impacted communities already suffering from the economic effects of the COVID-19 pandemic. The company will also match donations made by employees through its matching gift program.
    Full story