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Hess to Increase Bakken Rig Count, CapEx Unchanged

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   |    Wednesday,July 28,2021

Hess provided an update to its most recent quarterly results.  Here is the quick read.

1. The company said it plans to add 1 rig to its bakken rig count in September after completing 9 wells and brining online all nine wells in Q2.

2. Average raised prices for crude excluding hedges rose +22% quarter over quarter.

3. Q2 production (exl. Libya) 307mboe/d vs 315mboe/d in Q1. Bakken was 159 Mboe/d

4. Full year 2021 capex remains unchanged.

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