On HES’ 2Q10 CC, almost half of the long Q&A session pertained to activity in the Bakken. That really surprised me insofar as the CC took place a week after the Deepwater Horizon accident. By the large, the analysts on the call were much more interested in the Bakken than the GoM, despite the fact that HES is a significant player in the GoM.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”