The author, Mr. Filloon does his research and seems very knowledgeable about the oil and gas industry. I'm quite certain he obtains his information from publicly available sources. He provides his analysis as a service to the investment community.
Bakken Update: Hess Has Made A Big Change To Its Completion Design
|Name||Date||Choke||Stages||Water||Proppant||60Day IP||120Day IP|
The table to the top of this article shows a change from these lower number of stages to 38. This is consistent with Brigham (STO), which I covered in this article. Not only was this a big move, it has improved results significantly, and in some cases doubled old IP rates. One issue I had in researching Hess' results, was its lack of documentation with respect to well design. For those specific wells, I place N/A in the appropriate space.
In the second half of 2011, it used varying amounts of water and proppant. This variance has not always produced better results with increased water and proppant, which I found somewhat puzzling. Well orientation and lateral length are different for each well, sometimes by 1,000 feet. Another finding is Hess' move to a more moderate choke, which is consistent with Newfield Exploration Co.'s (NFX) well design, which I covered here. This has also been consistent with other Bakken operators.
In the table below, we see even more changes to design as Hess has used more than 100,000 barrels of water. It has also moved to above 3.2 million pounds of proppant. This move is consistent of Brigham, Kodiak Oil & Gas Corp (KOG) and Exxon Mobil Corporation (XOM).
|En-Thompson Trust 154-94-1930H-1||4/12||36/64||N/A||N/A||N/A||54Day=1548|
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Additional disclosure: IP Rates are measured in barrels of oil per day. Water volumes are measured in barrels. Proppant amounts are measured in pounds. N/A is used on any well without sufficient information. This is not a buy recommendation.