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Wednesday, January 26, 2011

Hess Reports IP For First of Three Abrahamson Wells (On Single Pad) -- Bakken, North Dakota, USA

18838, 424, Hess, EN-Abrahamson-155-93-3019H-1, Alger, Bakken.

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
So, time will tell how the pad does with three wells.
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3 comments:

  1. Old OilJanuary 26, 2011 at 5:44 PM

    Did you see in HES qtr. report the Bakken acres over 900,000 ?

    ReplyDelete
  2. Bruce OksolJanuary 26, 2011 at 6:08 PM

    Thank you for pointing that out. I would have missed it.

    I 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.

    ReplyDelete
  3. Bruce OksolJanuary 26, 2011 at 6:43 PM

    I just posted some data points on the earnings transcript:

    http://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

    ReplyDelete

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