Consol JV with Hess Oil puts the value of Ohio Wet zone acreage at $6,000 per net acre.

Consol announced a JV with Hess Oil this AM in their Ohio Utica Shale acreage that values the resource at $6,000 per acre. Hess will assume control of the of the liquids rich wet counties in the heart of the play and Consol will operate in the Northern counties in the oil window. There is a press release on the Consol website along with a slide invvestor presentation with an excellent map of the Play.

http://consolenergy.com/default.aspx

Randy

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Replies to This Discussion

Permalink Reply by Jeremy on September 17, 2011 at 4:29am
Thanks for your reply, Randy.
Permalink Reply by Nelson Roe on September 16, 2011 at 6:42am
Did I just read that Hess acquired Marquette(or at least some of Marquette's leaseholds) yesterday?  I believe the article stated that this acquisition equalled out to $8,800.00 per acre in three eastern Ohio counties...  Hess is definitely on the move!
Permalink Reply by scott peterson on September 16, 2011 at 6:56am
Yes.....Hey I thought you went into early hibernation....glad to see you re appear!
Permalink Reply by Nelson Roe on September 16, 2011 at 7:07am
I was in North Carolina for vacation last week & have been a bit slow getting back into my routine.  I have spent the last day or two trying to do some catch up reading.  Other than the Hess deals, it doesn't look like I have missed anything drastic.  Or have I overlooked something?
Permalink Reply by scott peterson on September 16, 2011 at 7:21am
Not really, been pretty quiet...
Permalink Reply by Shower Bath on September 17, 2011 at 4:47am

Came accross this today and thought I would share. Now we have Exxon (XTO) and Hess moving in strongly in Belmont. Note that the 19% royalty is net not gross.

http://www.theintelligencer.net/page/content.detail/id/559449/Prope...

Randy

Permalink Reply by Shower Bath on September 20, 2011 at 10:35am
Had a link to a NY times article, but it malfunctioned. You can see the link on the Harrison Co Ohio comment board.
Randy

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