Hess Sees Gains In Bakken With New Completion Design

A new completion design with 60 sliding sleeve stages and proppant loading of 140,000 pounds per stage is boosting EUR rates by as much as 15% in the Bakken shale play for Hess Corp. (NYSE: HES). The improvement in both EUR and IP 180 productivity prompted Hess to increase the EUR estimate for its Bakken acreage to 2 billion barrels of oil equivalent (Bboe) from 1.7 Bboe, Greg Hill, president and COO of Hess, told analysts on an earnings call this week. “Wells brought online in 2018 are expected to deliver an average EUR of greater than 1 million barrels of oil equivalent and generate returns of 40% to 50% at a $50 per barrel WTI,” Hill said. “In addition, we’ve increased by 25% the number of wells that can deliver a 15% return or higher at $50 per barrel WTI to 1,780 wells, which represents more than 60% of our remaining well inventory.”
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