Playbooks Supplements

Unconventional Yearbook 2018

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36 | January 2018 | 2018 UNCONVENTIONAL YEARBOOK | KEY PLAYERS Through the application of Lean manufacturing techniques, Hess' wells continue to be among the lowest cost and most productive in the Bakken, according to the company. Hess has more drilling spacing units in the core of the play than any other operators and its IP rates continue to increase as the company has increased its standard well design to a 50-stage completion from the previous 35-stage completion. The company also has successfully tested tighter well spacing, which has allowed it to increase its net EUR from the Bakken to 1.6 Bboe from its previous estimate of 1.4 Bboe. In third-quarter 2017, Hess reported Bakken production of 103,000 boe/d, according to the company's third-quarter 2017 earnings release. The company operated an average of four rigs in the third quarter, drilling 24 wells and bringing 13 new wells online. In the Utica Shale play in eastern Ohio the com- pany's acreage is in the heart of the wet gas window. Hess has 45,000 core net acres in Ohio and oper- ates in Jefferson, Belmont, Harrison and Guern- sey counties as part of a 50:50 joint venture with CONSOL Energy Inc. Hess benefits from a high net revenue interest and its wells are highly productive with significant liquids content, according to the company. Drilling and completion costs have been reduced by 30% by applying the same Lean man - ufacturing techniques used at its Bakken asset in North Dakota. In June 2017 Hess entered into an agreement to sell its interests in EOR assets in the Permian Basin to Occidental Petroleum Corp. for a total consideration of $600 million, a press release stated. Jagged Peak Energy ■ 70,400 net acres in the Southern Delaware Basin ■ $148.9 million capex for drilling and completion activities Jagged Peak Energy is an independent oil and nat- ural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the Southern Delaware Basin. The company's acreage targets the oil-rich southern portion of the Delaware Basin located on large, contiguous blocks in the adjacent counties of Winkler, Ward, Reeves and Pecos coun- ties, with significant original oil-in-place within multiple stacked hydrocarbon-bearing formations, according to the company's operations webpage. In second-quarter 2017 Jagged Peak reported production volumes of 14,714 boe/d (81% oil), an increase of 166% compared to second-quarter 2016 and an increase of 50% compared to first-quarter 2017, according to the company's second-quarter 2017 earnings release. Jagged Peak drilled 13 gross operated horizontal wells and completed and put online 14 gross oper- ated horizontal wells during the second quarter. For first-half 2017, the company drilled 23 gross operated horizontal wells and completed and put online 21 gross operated horizontal wells, the report stated. As of July 30, 2017, the company completed 46 horizontal wells in the Delaware Basin, accord- ing to the company's operations webpage. As of June 30, 2017, the company's total leasehold position increased to about 70,400 net acres, with more than 1,400 future well locations identified in the Third Bone Spring, Wolfcamp A and Wolfcamp B formations, the second-quarter report stated. In addition, capex for drilling and completion activities were $148.9 million; $9.8 million was spent on infrastructure; and $25.7 million was spent to add more than 1,800 net acres to the com- pany's leasehold position during second-quarter 2017, according to the report. Marathon Oil Corp. ■ Ranked No. 160 on the 2017 list of Fortune Global 500 companies ■ 365,000 net surface acres in Oklahoma resource basins Marathon Oil's U.S. operations cover the North Dakota, Northern Delaware, Oklahoma and Texas regions. In the Bakken the independent E&P company had about 270,000 net acres as of year-end 2016, according to the company's operations webpage. The company's Bakken Shale acreage is located

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