Oil and gas producer Hess Corp (HES.N) will pay CONSOL Energy (CNX.N) $593 million to form a joint venture and develop CONSOL's properties in the Utica shale in Ohio, the companies said on Wednesday. CONSOL owns about 200,000 acres in the Utica shale, most of which it bought last year from Dominion Resources (D.N). The new deal with Hess will give it a pre-tax gain of about $59 million.
Hess Corporation (Hess) is a global integrated energy company that operates in two segments: Exploration and Production (E&P), and Marketing and Refining (M&R). Shares of HES remained unchanged at $56.73. In the past year, the shares have traded as low as $52.63 and as high as $87.40. On average, 4673130 shares of HES exchange hands on a given day and today's volume is recorded at 0.
CONSOL Energy Inc. (CONSOL Energy) is a multi-fuel energy producer and energy services provider primarily serving the electric power generation industry in the United States. Shares of CNX remained unchanged at $43.65. In the past year, the shares have traded as low as $33.64 and as high as $56.32. On average, 4103780 shares of CNX exchange hands on a given day and today's volume is recorded at 0.
Dominion Resources, Inc. (Dominion), is a producer and transporter of energy, with a portfolio of approximately 27,600 megawatts of generation, 11,000 miles of natural gas transmission, gathering and storage pipeline and 6,100 miles of electric transmission lines. Shares of D remained unchanged at $47.89. In the past year, the shares have traded as low as $41.13 and as high as $50.67. On average, 3256120 shares of D exchange hands on a given day and today's volume is recorded at 0.
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