Hess raised its 2015 production forecast for prolific Bakken shale oil formation in North Dakota to 105,000-110,000 boe/d as more efficient well completions counter a lower rig count, CEO John Hess said Wednesday. Earlier this year, Hess had estimated 2015 Bakken production would range at 95,000 boe/d-110,000 boe/d. The company had cut its rig count from the 12 operating in Q1 to the eight currently operating in response to sharply lower crude costs. The price of Bakken from the Clearbrook, Minnesota, oil hub averaged $56.98/b in the second quarter, Platts assessment data showed. So far in the Q3, it has averaged $48.40/b, touching $44.31/b on Tuesday. Crude movements by rail between the Midwest and the East Coast refineries, one of the largest users of Bakken crude, has been falling. It was 12.41 million barrels in April, down from 12.86 million barrels in March, US Energy Information Administration data shows. […]