Hess plans to double its Bakken production by yearend

02/28/2011
Paula DittrickSenior Staff WriterHess Corp. produced 20,000 boe/d from North Dakota's Bakken oil play as of yearend 2010, and it expects to double production there by yearend 2011, executives said during an earnings conference call.Greg Hill, president of Hess worldwide exploration and production, said the company plans to invest $1.8 billion, or 33% of its 2011 budget, on drilling and associated infrastructure to boost Bakken production to 40,000 boe/d.John Hess, chairman and chief executive officer, forecast the company's 2011 production could average 425,000 boe/d compared with 420,000 boe/d in the fourth quarter 2010, up from 415,000 boe/d for the fourth quarter 2009.The company repor...
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