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Tag Archives: hess

ND Gov. Burgum welcomes Hess and Targa’s $150M Bakken investment

Gov. Doug Burgum welcomed news today that Hess Midstream Partners and Targa Resources will build a $150 million gas processing plant near Watford City, as North Dakota produces record volumes of natural gas and approaches record high oil production. The Little Missouri Four gas plant will process 200 million cubic feet of gas per day at Targa’s existing Little Missouri ...

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Hess, Targa to build $150M Gas Plant

Hess Midstream Partners LP announced today the formation of a 50/50 joint venture with Targa Resources Corp. to construct a new 200 million standard cubic feet per day gas processing plant called Little Missouri Four (LM4). The new gas plant will be located at Targa’s existing Little Missouri facility, south of the Missouri River in McKenzie County, North Dakota. Targa ...

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Will Hess add new Bakken rigs in 2017?

Bakken, Hess

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 ...

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Utica: Drillers take hits from stock prices

Stocks

Thanks to low commodity prices, drillers and investors in the oil and gas industry have taken several negative hits, and those hits are certainly visible when it comes to drillers in the Utica Shale formation. On Friday during a second-quarter earnings call, Magnum Hunter Resources Corp. CEO Gary Evans explained that there is a dramatic prices difference in oil and ...

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UND breaks ground for $15.5M Collaborative Energy Complex

GRAND FORKS, N.D. — The University of North Dakota has broken ground for a new headquarters for its College of Engineering and Mines. The 37,000-square-feet Collaborative Energy Complex will cost $15.5 million. About $10 million is coming from private donations. Hess Corp. has committed $5 million over five years to support the facility. Hess is a major player in the ...

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How secure are ND’s pipelines and drilling sites?

A number of spills in North Dakota’s oil patch have got headlines recently, but at least one company is a little suspicious as to how they came to happen. “Hess spokesman John Roper said employees found wide-open valves on saltwater storage tanks on two well locations 3 miles apart,” the Bismarck Tribune reported. “We call that suspicious,” Roper told the ...

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Hess using remote NGL capture to corral flaring

gas flare

A statewide flaring mandate took effect on October 1st of 2014, which requires companies to capture a certain amount of their natural gas byproduct on-site per month or lower their production amounts. The state of North Dakota hopes to reduce its flaring rate by 10 percent in the next three years. Each company is applying different approaches for how they are ...

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