Dominion Exploration and Production Inc
Jane Lew, West Virginia-based Dominion Exploration and Production Inc. is the oil and gas exploration and production division of Dominion Resources. During 2007, Dominion divested the majority of its oil and gas holdings, yet retained approximately 1 Tcf of proven reserves in the Appalachian Basin. In March, 2010 its remaining acreage was acquired by CONSOL Energy Inc. Additional information about this transaction is available on the CONSOL Energy wiki page.
Dominion owned drilling rights to 600,000 to 800,000 acres in the Marcellus shale formation. Roughly one third of this acreage, or 205,000 net acres, largely in western Pennsylvania and West Virginia, were to be assigned to Antero Resources during the fall of 2008. Dominion still received a 7.5% royalty on Antero's production from the property. A few weeks after announcement of this deal, a follow-up report appeared indicating that Antero's financing had gone partially awry, and only 114,000 acres were to be acquired instead of the previously announced 205,000 acres.
- Ben Hardesty is Dominion's Vice President of Northeast Gas Basins.