Hess 2014 Annual Report Download - page 7
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5
natural gas per day, resulting in increased production
of natural gas liquids and enabling a signicant
reduction in aring. As a result of its successful
downspacing pilot tests, the Company announced
in November that 13 wells per 1,280 acre Drilling
Spacing Unit (DSU) has become its standard basis for
development in the Bakken, increasing the number of
total drilling locations by approximately 33% to more
than 4,000.
In the Utica Shale Play in eastern Ohio, where the
Company participates in a 50% joint venture with its
partner CONSOL Energy, net production increased
to 9,000 barrels of oil equivalent per day from 2,000
barrels of oil equivalent per day in 2013. In 2014, the
joint venture began to transition from appraisal to early
development and during the year operated four rigs,
drilled 38 wells, completed 36 wells and brought 39
new wells online. Also in 2014, Hess executed the sale
Drilling Operations, North Dakota