Consol Energy to lay off CNX gas division workers
Tuesday, April 14, 2015
According to Observer-Reporter, Consol Energy Inc. is allegedly laying off some of its workers.
The newspaper reports that a statement released from a Consol spokeswoman claims that the layoffs will affect less than 5 percent of the division’s workers. The statement mentioned that the company is working to streamline its staff amid low commodity prices.
Consol has operations in the Utica and Marcellus shale plays. Currently, Consol is fracking its first well at the Pittsburgh International Airport.
Via: Observer-Reporter > Consol laying off gas division workers
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Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.