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Hess Plan to Ramp Up Bakken To Six Rigs By Year-End 2017

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   |    Thursday,April 27,2017

Hess has reported its 1Q17 results and here is a quick read.

Plan to ramp up bakken to six rigs by year-end.

Bakken/Williston : Net production from the Bakken averaged 99,000 boepd, despite negative operational impacts from severe winter weather. The company operated an average of two rigs in the first quarter, drilling eleven wells and bringing eight new wells online. A third rig was added in March and a fourth rig was added in April. We plan to add two additional rigs in the fourth quarter to end the year with six rigs.

Guyana (Offshore): At the Stabroek Block (Hess 30 percent), operated by Esso Exploration and Production Guyana Limited, results from the Snoek well confirmed another oil discovery on the block, located approximately 5 miles (9 kilometers) southeast of the Liza-1 discovery well. The Snoek well encountered more than 82 feet (25 meters) of high-quality, oil-bearing sandstone reservoirs. The co-venture partners continue to evaluate the resource potential on the broader Stabroek Block and the operator is currently drilling the Liza-4 appraisal well.





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