Hess Acquires Additional Acreage In Ohio’s Utica Shale

October 2011, Vol. 238 No. 10

Hess Corp. acquired Marquette Exploration LLC and other leases in Ohio’s Utica Shale, boosting its acreage position by 85,000 net acres at a cost of $750 million.

The leases, in which Hess will have a 100% working interest, are in Jefferson, Harrison and Belmont counties. Appraisal activities on this acreage are planned to commence in the fourth quarter. Together with the previously announced joint venture with CONSOL Energy, the transactions provide Hess with 185,000 net acres in the Utica Shale play.