Thursday, December 30, 2010

Hess Corporation (HES): Bakken Shale Update

By Andrea:

Hess Corporation (HES) released an exciting operational update on the Bakken Shale located in North Dakota. It has completed the acquisition of 167,000 net acres in the Bakken oil shale play from TRZ Energy, LLC for $1,050 million in cash. The acquired properties are located near Hess' existing acreage and have current net production of approximately 4,400 boe/d.

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