Consol cuts 2016 natural gas budget
Monday, January 11, 2016
While Consol Energy plans to drill a few new wells in 2016, the company will cut its natural gas exploration and production spending budget, Pittsburgh Tribune-Review reports.
Previously, the company projected that its capital budget would be between $400 million and $500 million. The latest announced budget will be between $205 million and $325 million.
Consol has been able to more efficiently operate wells, so increasing gas production won’t mean the company has to spend more.
Via: Pittsburgh Tribune-Review > Consol cuts natural gas budget again
More about Consol Energy:
- Consol locks in contracts for next year’s coal December 16, 2015
- Profit losses hurt Consol, even with upswing in production August 15, 2015
- Consol Energy reports operational loss, increased production July 31, 2015
- Consol investor suggests changes to natural gas holdings during market slump July 26, 2015
- Consol expects to post losses during second quarter July 21, 2015
- Consol considers changing up Pittsburgh Airport drilling plan June 28, 2015
- Consol Energy maintains strong production in Marcellus and Utica May 14, 2015
- Consol reports increase in production during first quarter April 30, 2015
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