DENVER—At DUG Rockies today, Hess Corp.’s vice president of onshore, Barry Biggs, told the audience the Bakken is a key driver of U.S. production growth. This year, Bakken output is set to exceed a 2014 record of 1.23 MMboe/d.
Biggs said Hess expects to complete 40% of its Bakken wells using the plug-n-perf method this year, as it shifts from sliding sleeves.
Hess’ Lean practices resulted in 60% improvement of drilling and completion costs since 2013, improving productivity and increasing value in the Bakken, Biggs said.
Meanwhile, during the economics panel prior to Biggs’ presentation, PetroNerds’ Trisha Curtis and Stratas Advisors’ Stephen Beck said the future looks good for the Rockies region. Both forecast stable to growing activity in the Bakken, D-J Basin and Powder River Basin.
DUG Rockies takes place throughout the day. To follow speakers and to read what industry insiders are saying about the Bakken and Niobrara check back or follow @HartEnergConf on Twitter.
Recommended Reading
Enterprise’s SPOT Deepwater Port Struggles for Customers
2024-04-25 - Years of regulatory delays, a loss of commercial backers and slowing U.S. shale production has Enterprise Products Partners’ Sea Port Oil Terminal and rival projects without secured customers, energy industry executives say.
Range Resources Holds Production Steady in 1Q 2024
2024-04-24 - NGLs are providing a boost for Range Resources as the company waits for natural gas demand to rebound.
EQT Sees Clear Path to $5B in Potential Divestments
2024-04-24 - EQT Corp. executives said that an April deal with Equinor has been a catalyst for talks with potential buyers as the company looks to shed debt for its Equitrans Midstream acquisition.
Novo II Reloads, Aims for Delaware Deals After $1.5B Exit Last Year
2024-04-24 - After Novo I sold its Delaware Basin position for $1.5 billion last year, Novo Oil & Gas II is reloading with EnCap backing and aiming for more Delaware deals.
Matador Hoards Dry Powder for Potential M&A, Adds Delaware Acreage
2024-04-24 - Delaware-focused E&P Matador Resources is growing oil production, expanding midstream capacity, keeping debt low and hunting for M&A opportunities.