This is a long lateral, 31,000 bbls cumulative in first two months. It has been producing since July, 2010, but has had some months with minimal production. Runs recorded:
- July: 5 days
- August: 31 days
- September: 21 days
- October: 3 days
- November: 9 days
- December: 21 days
Did you see in HES qtr. report the Bakken acres over 900,000 ?
ReplyDeleteThank you for pointing that out. I would have missed it.
ReplyDeleteI was gone all day so I haven't had chance to look at earnings for COP and HES which came out today.
The 900,000 figure is in the transcript which I will link later. This is a very interesting and very important figure. On December 30, 2010, Zacks said Hess "more than 750,000 acres." Well, 900K is "way more" than 750K."
Zacks link: http://www.zacks.com/stock/news/45313/New+Bakken+Acres+in+Hess+Pie
Thank you for the head's up. Here's the SeekingAlpha link which will eventually get linked in the body of the blog:
http://seekingalpha.com/article/248837-hess-ceo-discusses-q4-2010-earnings-call-transcript?source=yahoo
Huge amount of news today; I may do a stand-alone post summarizing all the news today.
I just posted some data points on the earnings transcript:
ReplyDeletehttp://milliondollarway.blogspot.com/2011/01/hess-in-bakken-earnings-transcipt-north.html
The Bakken dominated the discussion. It's quite remarkable:
Switch from dual-laterals to single laterals to hold-by-production
Four dedicated frac crews now; a fifth one later this year
20,000 bopd day in 2011; guidance 40,000 bopd in 2011
18 rigs now (remember, it was only recently Hess had 10 rigs and was planning to move to 15; with acquisitions picked up some more rigs)
Very, very upbeat, exciting report