Thursday, July 29, 2010

EOG Resources, Inc. (EOG) Marcellus Shale Joint Venture?

By Andrea -

Based on their 2010 Earnings call, EOG Resources, Inc. (EOG) is strongly considering a JV opportunity in the Marcellus Shale. While the venture is not yet a definite, CEO Marc Papa claims to have an answer by the end of the year:

"The one that's on a bit faster track is the Marcellus, and we will be looking at an organized approach to screen interested parties to look and see if we can bring someone in there. And so I would say, the Marcellus, by year end, we should have an answer as to: Are we going to do one? And if so, what are the terms?"

EOG Resources, Inc. (EOG) currently has about 230,000 net acres primarily in Pennsylvania in the Marcellus Shale, and primarily in North Western Pennsylvania in the Marcellus Shale.

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