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Photo: Mike Towbar via flickr.

Will Hess add new Bakken rigs in 2017?

More rigs for the Bakken are in the 2017 Hess plan, according to company president and CEO John Hess, who was speaking about the company’s game plan in their third-quarter earnings call.

Hess reported a net loss of $339 million, or $1.12 per common share for the third quarter, which compares to a net loss of $279 million or 98 cents per common share for the same quarter a year ago. For the Bakken midstream segment, they reported net income of $13 million for the quarter, down from $16 million in the year ago quarter. The decrease was attributed to lower throughput. Read more…

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