Hess plans to triple its rig count in the Bakken Shale by the end of 2017 from two rigs to six and forecasts the company’s production in the play will grow as high as 110,000 b/d of oil equivalent by Q4, up 10% from the start of this year. “We are increasing activity in the Bakken,” John Hess, the company’s CEO, said during a Q4 earnings call Wednesday. Related episode of Capitol Crude : John Hess on the ‘new chapter’ for oil prices, US shale production Hess reported that its Bakken production averaged 95,000 boe/d in Q4, down about 13% from the same quarter a year ago, due largely to severe winter weather and the company’s reduced drilling activity. Hess’ production in the Gulf of Mexico fell from 73,000 boe/d in Q4 of 2015 to 61,000 boe/d in Q4 2016. Overall, oil and gas production averaged 311,000 boe/d in […]