Hess Corp (HES) reported earnings for the fourth quarter of 2010 and held a conference call with the investment community to discuss the results. The company disclosed additional data on its planned activity in the Eagle Ford Shale in 2011.
“In the Eagle Ford shale play in South Texas, we acquired about 90,000 net acres in 2010, primarily focused in the condensate window. We have already drilled three wells and results thus far have been encouraging, with good shows and log response. Over the course of the year, we plan to drill an additional 15 wells.”
“I don't really want to comment exactly where we are because we're competitively trying to acquire acreage still around our positions. Regarding wells, we've drilled three. Those are exploration kind of delineation wells. We'll drill three more exploration delineation wells. And then we're planning about a dozen development wells on top of that next year.”
“Eagle Ford Shale wells are going to be a mix of condensate and gas. But we don't know until we have the wells flowing.”
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