Newfield Exploration Company (NFX) discussed the Marcellus Shale during its third quarter earnings conference call held on October 22, 2009.
Marcellus Shale Joint Venture
“Entered the Marcellus Shale through a new agreement with Hess covering up to 140,000 gross acres primarily in Susquehanna and Wayne Counties, Pennsylvania. This is a ground-floor agreement, which Newfield will operate. Each company will have a 50% interest.”
Acreage Location
“Northeast Pennsylvania and Susquehanna and Wayne Counties, the thing that attracted us to that area and if you looked at the maps, it is the area where the Marcellus is thickest. We think it has got all the right attributes to be a major significant resource.”
Source: Seeking Alpha ___________________________________________________________________
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