Gregory P. Hill
President and Chief Operating Officer at Hess
Thanks, John. In the third quarter, we continued to deliver strong operational performance, meeting our production targets despite extended hurricane-related downtime in the Gulf of Mexico and safely executing a major turnaround at our Tioga Gas Plant in North Dakota. Companywide net production averaged 265,000 barrels of oil equivalent per day excluding Libya in line with our guidance. In the fourth quarter and for the full year 2021, we expect companywide net production to average approximately 295,000 barrels of oil equivalent per day excluding Libya.
Turning to the Bakken, third quarter net production averaged 148,000 barrels of oil equivalent per day. This was above our guidance of approximately 145,000 barrels of oil equivalent per day and primarily reflected strong execution of the Tioga Gas Plant turnaround and expansion, no small task in a COVID environment that required strict adherence to extensive safety protocols to keep more than 650 workers safe. For the fourth quarter, we expect Bakken net production to average between 155,000 and 160,000 barrels of oil equivalent per day. For the full year 2021, we forecast our Bakken net production to average approximately 155,000 barrels of oil equivalent per day, compared to our previous guidance range of 155,000 to 160,000 barrels of oil equivalent per day. This guidance reflects an increase in NGL prices, which reduces volumes under our percentage of proceeds contracts, but significantly increases this year's earnings and cash flow.
In the third quarter, we drilled 18 wells and brought 19 new wells online. In the fourth quarter, we expect to drill approximately 19 wells and to bring approximately 18 new wells online. And for the full year 2021, we continue to expect to drill approximately 65 wells and to bring approximately 50 new wells online. In terms of drilling and completion costs, although we have experienced some cost inflation, we are maintaining our full year average forecast of $5.8 million per well in 2021. Since February, we've been operating two rigs. But given the improvement in oil prices and our robust inventory of high return drilling locations, we added a third rig in September.
Moving to a three-year three rig program will allow us to grow cash flow and production better optimize our in basin infrastructure and drive further reductions in our unit cash costs. Now moving to the offshore. In the deepwater Gulf of Mexico, third quarter net production averaged 32,000 barrels of oil equivalent per day, compared to our guidance range of 35,000 to 40,000 barrels of oil equivalent per day. Our results reflected an extended period of recovery following Hurricane Ida, which caused power outages at transportation and processing facilities downstream of our platforms. Production was restored at all of our facilities by the end of September.
In the fourth quarter, we forecast Gulf of Mexico net production to average between 40,000 and 45,000 barrels of oil equivalent per day. For the full year 2021, our forecast for Gulf of Mexico net production remains approximately 45,000 barrels of oil equivalent per day. In Southeast Asia, net production in the third quarter was 50,000 barrels of oil equivalent per day in line with our guidance of 50, 000 to 55,000 barrels of oil equivalent per day, reflecting the impact of planned maintenance shutdowns and lower nominations due to COVID. Fourth quarter net production is forecast to average approximately 65,000 barrels of oil equivalent per day and our full year 2021 net production forecast remains at approximately 60,000 barrels of oil equivalent per day.
Now turning to Guyana. In the third quarter, gross production from Liza Phase 1 averaged 124,000 barrels of oil per day or 32,000 barrels of oil per day net to Hess. Replacement of the flash gas compression system on the Liza Destiny with a modified design is planned for the fourth quarter and production optimization work is now planned to take place in the first quarter of 2022. These two projects are expected to result in higher production capacity and reliability. Net production from Liza Phase 1 is forecast to average approximately 30,000 barrels of oil per day in the fourth quarter and for the full year 2021. Liza Phase 2 development will utilize the 220,000 barrels of oil per day Unity FPSO, which arrived in Guyana Monday evening. Next steps will be more in line installation and umbilical and riser hook up. First oil remains on track for first quarter 2022.
Turning to our third development at Payara, the Prosperity FPSO hull entered the Keppel yard in Singapore on August 1st. Topside fabrication of dynamic and development drilling are underway. The overall project is approximately 60% complete. The Prosperity will have a gross production capacity of 220,000 barrels of oil per day, and is on track to achieve first oil in 2024. As for our fourth development at Yellowtail earlier this month, the joint venture submitted a plan of development to the Government of Guyana, pending government approvals and project sanctioning. The Yellowtail project will utilize an FPSO with a gross capacity of approximately 250,000 barrels of oil per day. First oil is targeted for 2025.
As John mentioned, we announced three discoveries since July. In July, we announced that the Whiptail 1 and 2 wells encountered 246 feet and 167 feet of high quality oil bearing sandstone reservoirs respectively. This discovery is located approximately four miles southeast of well 1 and 3 miles west of the Yellowtail. In September, we announced that the Pinktail 1 well located approximately 22 miles southeast of Liza 1 encountered 220 feet of high quality oil bearing sandstone reservoirs. And finally earlier this month, we announced a discovery of Cataback located approximately 4 miles east of Turbot 1. The well encountered 203 feet of high quality hydrocarbon bearing reservoirs, of which approximately 102 feet was oil bearing. These discoveries further underpin future developments and contributed to the increase of estimated gross discovered recoverable resources on the Stabroek Block to approximately 10 billion barrels of oil equivalent.
Exploration and appraisal activities in the fourth quarter will include drilling [Indecipherable] exploration well located approximately 11 miles northwest of Liza 1. This well as a significant step out tests that will target deeper Campanian and Santonian aged reservoirs. Appraisal activities in the fourth quarter will include drill-stem tests at Longtail 2 and Whiptail 2 as well as drilling the Tripletail 2 well. In closing, we have once again demonstrated strong execution and delivery and are well positioned to deliver significant value to our shareholders.
I will now turn the call over to John Riley.