Dominion Resources (D) held its fourth quarter of 2009 earnings conference call on January 28, 2010, and discussed the Marcellus Shale. The company has a large acreage position of 450,000 acres in the Marcellus Shale that it is in the process of monetizing. The company is also building infrastructure in the Marcellus Shale to serve future development.
“Early indications from potential purchasers of our Marcellus acreage show a very strong interest in our properties.”
“Dominion E&P drilled 307 wells in 2009 without a single dry hole including 22 vertical Marcellus wells.”
“The potential development of the Marcellus Shale formation creates a significant number of opportunities for new infrastructure investment projects. One of these is the Appalachian Gateway; the $635 million pipeline project will ensure market access for the participating Appalachian producers by firming up their transportation rights. We prefiled for FERC approval last fall and hope to obtain our certificate early next year.”
Source: Seeking Alpha
