06.14.2019
By Brian Walzel, Hart Energy
Hess’ financial and production metrics have experienced a marked increase following its move to plug-and-perf (PNP) completion designs and improved well spacing after the price collapse of 2014. The company reported in its December 2018 investor presentation that its adoption of PNP completions is forecast to result in increases in production to about 200,000 boe/d and net present value by about $1 billion.
“Each area acts a little bit differently in the Bakken,” he said. “There’s no one-size-fits-all. Plug and perf offers the ability to add more entry points, which is the key here,” said Barry Biggs, Hess vice president of onshore
In addition to stage spacing and the shift to PNP completions, Hess has substantially increased its proppant loading design. Biggs said that in about 2014, when Hess was moving from 25 stages up to 60, its completion designs included about 70,000 lb per stage of proppant. That amount has more than tripled to as much as 280,000 lb per stage.
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