Hess Corp. (HES) held its fourth quarter of 2009 earnings conference call on January 27, 2010, and discussed its operations in the Marcellus Shale. The company added to its acreage position in the Marcellus Shale and is looking to add more acreage in 2010.
“In unconventional resources, we continue to selectively grow our position with the acquisition of 80,000 net acres in the Marcellus in 2009. In 2010, we will begin evaluation drilling and seek to acquire additional acreage.”
“I think we will be opportunistic in the Marcellus is what I would say. I mean there’s still some more acreage in and around our existing acreage that we would like to pickup.”
Source: Seeking Alpha