Hess

Locator: 10010HESS.

Hess

• October 23, 2023: CVX to buy Hess. Update and 2Q23 earnings presentation here.
  
• 3Q22: 166,000 boepd in the Bakken;
  
• 2022: CAPEX in the Bakken to jump 75% for 14% production growth. CAPEX to $790 million in the Bakken; to drive 168,000 bbls/day. Link here. Update here.
  
• 2019: Bakken: 126K boepd, p 15% from 110,000 boepd one year ago; earnings here;
• Bakken's rig count could increase by 6 rigs with Hess' 2017 drilling plans; Hess production in the Bakken could surge in CY17
• highlights of 3Q16 earnings call;
• November 10, 2015: recent well completions suggest Hess is using RockPile Energy Services, a subsidiary of Triangle Petroleum to complete their wells
• 3Q14; 59 new wells; 86,000 boepd. 
• 1Q14: May, 2014, investors' conference; 640,000 net Bakken acres; 17-rig program; CAPEX $2.2 billion; 2014 production forecast, 85,000 boepd; 125,000 boepd; 150,000 boepd; > 3,000 total operated drilling locations; 2013 30-day IPs, 750 - 900 boepd; 2013 EURs, 550K  - 600K boe; estimated recoverable resource: 1.2 billion boe
• 4Q13: January 29, 2014, corporate earnings: 645,000 acres in the Bakken: to ramp up in the Bakken. CAPEX will stay flat at $2.2 billion in 2014 (same as 2013) but will drill 225 operated wells vs 168; 17 rigs (2014) vs 14 rigs (2013). Will focus on unconventional shale. 4Q13: average well cost, $8 million vs $11 million (2012); forecasts 80K to 90K boepd in 2014; 9 wells for typical 1280-acre unit; will test tighter well spacing; Tioga Plant expansion to be complete 1Q14; forecast 150K boepd (2018) -- represents an increase from guidance of 120,000 boepd (2016).
• Hess Bakken Investments II, LLC: the Hess operator for Rocky Mountain assets in North Dakota, Wyoming, and Colorado; founded in 2009; Tracker Energy (TRZ) formally changed to Hess Bakken Investments II, LLC, in 2013;
• November, 2012, NOG says Hess has 800,000 acres
• September (2012) Power Conference presentation: 900,000 acres; 16 rigs
• Total ND Bakken acreage: > 750,000 net acres
• BEXP presentation says Hess has 900,000 net acres 
• 18 rigs (1Q11; after AEZ, TRZ acquisitions)
• American Oil and Gas deal adds 85,000 acres (closed Dec 20, 2010)
• TRZ acquisition: 167,000 acres
• Total acreage: 500+85+167 = 752,000 net acres (2010)
• East Nesson (EN)
• Impact (IM)
• Red Sky (RS)
• Passport
• Stampede
• Avalanche (AV)
• Goliath Prospect (GO) -- American Oil & Gas
• Stony Creek
• Buffalo Wallow (BW)
• Little Knife
• West Nesson
• Nesson Anticline (Tioga, Beaver Lodge, Capa, Hawkeye, Antelope, Blue Buttes)
• Newburg -- Bottineau County -- removed since last presentation
• Fryburg -- west of Dickinson -- removed since last presentation
• During 2011 Hess transitioned from 18-22 stage to 38 stage fracking. Results are incredible.