Hess will ramp up Bakken production

 Dec 28 2018

The Bakken is a key element in the Hess Corporation’s strategy to turn all its major assets into big cash generators by 2022, stepping their net cash flow up by more than 250 percent by 2025.

A detailed plan for the company’s Bakken assets was discussed during a recent investor day, in which company officials said they plan to run up to six rigs and three hydraulic fracturing crews in the Bakken for 2019, and bring online 160 wells.

These wells will average 1.2 million barrels per day estimated ultimate recovery or EUR, with more than a 65 percent internal rate of return or IRR. The 180-day Initial Production average is expected to be a little bit north of 120,000 barrels.

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