Hess Corp (HES.N) said on Thursday it spent $750 million to purchase acreage in the Utica Shale in Ohio, a day after the company announced a joint venture in that basion with CONSOL Energy (CNX.N). Hess, based in New York, now has 185,000 acres in the Utica, a massive field that is thought to hold vast quantities of more valuable natural gas that has a high liquids content. Hess acquired 85,000 acres from Marquette Exploration LLC and others in this latest deal, it said. Shares of Hess rose $1.29, or 2 percent, to $60.55 in morning New York Stock Exchange trading.
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 traded higher by 2.55% or $1.51/share to $60.77. In the past year, the shares have traded as low as $52.63 and as high as $87.40. On average, 4643740 shares of HES exchange hands on a given day and today's volume is recorded at 796959.
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 fell by 0.99% or $-0.45/share to $45.11. In the past year, the shares have traded as low as $33.64 and as high as $56.32. On average, 4128570 shares of CNX exchange hands on a given day and today's volume is recorded at 314776.
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