Hess Corp. earlier this month agreed to pay more than $1.34 billion in a pair of transactions that netted it 185,000 Utica acres. This is about $8,800 per acre. EVEP controls more than 780,000 acres. At the same price, my calculator says that is about $6,864,000,000. I hope that is on the low side. Read the article and then give some feedback.
I am not aware that EVEP controls 800,000 plus acres. I thought it was much less...somewhere in the 200,000 acre range. I hope this WSJ article is correct. If so, your calculations can't be too far off!