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BS - Hess transitions to plug & perf, flows record well - April 30, 2019
Hess’ Bakken assets delivered strong production growth in Q1 despite severe winter weather. Production averaged 130,000 boe/d, up 3% sequentially and 17% YOY. The company saw success in its transition to plug-and-perf from its prior 60-stage slidingsleeve design. The change is expected to increase the net present value of Hess’ Bakken position by $1 billion. During Q1, the company drilled 38 wells and brought 25 online in the play. With improved weather, activity is expected to increase in Q2......
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