In the Media: WSJ cites Hess as Part of Bakken Drilling Resurgence
Hess Corporation Logo header
SEARCH

In the Media: WSJ cites Hess as Part of Bakken Drilling Resurgence

  • BoucingBack_RIGDATA_GRAPHIC
06.15.2017

Drillers are inching back to action in North Dakota’s Bakken shale region, a sign of the recovery of the American oil and gas sector, writes the Wall Street Journal. The revival after a three-year low oil price environment is welcomed by local industry leaders, officials and merchants,

Hess is drilling new wells with four Bakken rigs in place and plans to have six by year-end. Hess has nearly 3,000 locations left to drill in the area—half of which generate a return of at least 15 percent at $50 oil thanks to technological improvements and cost cutting.

“We compete very well with the Permian,” said Mike Turner, senior vice president of global production at Hess, referring to the region of Texas and New Mexico where much shale drilling has concentrated during the downturn in prices.

Full story

Related News
  • Hess Schedules Q4 2019 Earnings Release Conference Call

    Hess will hold a conference call on Wednesday, January 29, 2020 at 10 a.m. Eastern Time to discuss its fourth quarter 2019 earnings release.
    Full story
  • Hess Announces Oil Discovery Offshore Guyana at Mako-1

    Hess today announced another oil discovery on the Stabroek Block offshore Guyana at the Mako-1 well southeast of the Liza Field. The discovery adds to the current gross recoverable resource estimate of more than 6 billion barrels of oil equivalent.
    Full story
  • Hess Announces First Production from the Liza Field, Offshore Guyana

    Hess today announced startup of production from the Liza Field offshore Guyana, less than five years after the first discovery of hydrocarbons and well ahead of the industry average for deepwater developments. Production from the first phase of the Liza Field, located in the Stabroek Block, is expected to reach full capacity of 120,000 gross barrels of oil per day in the coming months, with the first cargo set to be sold within several weeks.
    Full story