Hess Corp. (HES), Continental Resources, Inc. (CLR), Oasis Petroleum Inc. (OAS): This Company Is Dominating the Bakken

If the performance of its peers is any indication, Hess Corp. (NYSE:HES)’ performance in the play should only improve as it continues to optimize. In addition to moving to pad drilling, the company is also conducting test programs to optimize well spacing as well as its completion techniques. This can also have a very positive future effect on its production.

Halcon Resources Corp (NYSE:HK) has seen dramatic improvements in its results as it’s focused on improving its well performance. In fact, it holds the recent record initial production rate of 3,317 barrels of oil per day on a Bakken well. Overall, its new techniques have driven a 120% increase in the average initial production rate versus its previous completion method.

What this means for Hess Corp. (NYSE:HES) investors is twofold. First, the company still has the potential to improve its already stellar performance in the play. At the same time, its competitors are working hard to also improve, meaning that it needs to continue to work hard to maintain its dominance. There are a lot of positive catalysts for the stock, which should lead to solid returns for investors.

The article This Company Is Dominating the Bakken originally appeared on Fool.com and is written by Matt DiLallo.

Fool contributor Matt DiLallo has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned.

Copyright © 1995 – 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.