In Hess' corporate presentation back in September, the number of Bakken acres was listed as "~900,000 acres."
I have not seen a newer number; I tried accessing the slides for the 4Q11 results but the slides were not yet available -- the audio was there, but not the slides. So, I will watch for the next corporate presentation.
The ~900,000 acres for Hess are all in North Dakota (I believe), whereas some of the 950,000 CLR acres are in Montana, so yes, Hess would have more net acres in ND than CLR.
No one wants to overpay for acreage, but my hunch is that an operator close to 1 million acres would like to be able to say "we" have a million acres in the Bakken.
I think CLR has about 24 rigs in the Bakken; Hess has 16.
In Q3 2011 CLR held 901,000 Bakken acres of which 649,000 were in North Dakota. If we assume all 50,000 Bakken acres they've added since then are in ND, they now hold about 700,000 North Dakota Bakken acres. CLR Bakken production Q3 2011 (ND and MT) was 34,000 BOEPD.
Hess has over 900,000 Bakken acres in North Dakota and exited 2011 with ND Bakken production of 50,000 BOEPD.
I think "Hess 684" is just looking at the Bakken. Hess has been in North Dakota since 1951 and their total production would be a lot more from the Madison, Red River, etc., I assume.
Hess has more Bakken acres in North Dakota than Continental Resources.
ReplyDeleteHess 684
In Hess' corporate presentation back in September, the number of Bakken acres was listed as "~900,000 acres."
DeleteI have not seen a newer number; I tried accessing the slides for the 4Q11 results but the slides were not yet available -- the audio was there, but not the slides. So, I will watch for the next corporate presentation.
The ~900,000 acres for Hess are all in North Dakota (I believe), whereas some of the 950,000 CLR acres are in Montana, so yes, Hess would have more net acres in ND than CLR.
No one wants to overpay for acreage, but my hunch is that an operator close to 1 million acres would like to be able to say "we" have a million acres in the Bakken.
I think CLR has about 24 rigs in the Bakken; Hess has 16.
In Q3 2011 CLR held 901,000 Bakken acres of which 649,000 were in North Dakota. If we assume all 50,000 Bakken acres they've added since then are in ND, they now hold about 700,000 North Dakota Bakken acres. CLR Bakken production Q3 2011 (ND and MT) was 34,000 BOEPD.
ReplyDeleteHess has over 900,000 Bakken acres in North Dakota and exited 2011 with ND Bakken production of 50,000 BOEPD.
Hess684
Are you guys including CLR Red River acres? When you combine all their WB production CLR exited 2011 @ just over 56,000 BOEPD
ReplyDeleteI think "Hess 684" is just looking at the Bakken. Hess has been in North Dakota since 1951 and their total production would be a lot more from the Madison, Red River, etc., I assume.
ReplyDeleteI try to keep the data updated at this site:
http://milliondollarway.blogspot.com/2010/10/areas-of-interest-in-bakken-by-producer.html
But you are correct: one has to be careful when comparing data points between companies.
I try to keep up here:
http://milliondollarway.blogspot.com/2010/10/areas-of-interest-in-bakken-by-producer.html
But, again, it's hard to keep up, and one has to be careful what one is measuring.