Consol reports increase in production during first quarter
Thursday, April 30, 2015
In the first quarter of 2015, Consol Energy produced 36.3 billion cubic feet equivalent of natural gas in the Marcellus Shale, according to Pittsburgh Post-Gazette PowerSource. This production rate is up 75 percent from the first quarter of 2014.
In the Utica Shale, Consol’s production rate was 9.5 billion cubic feet equivalent of natural gas. Overall, the company’s reported net income for the first quarter of 2015 was $79 million, down from $116 million during the first quarter of 2014.
The company is focusing on drilling and completion efficiencies, which will lower capital and operating costs. Consol’s Utica dry gas wells in Greene and Westmoreland counties, Pennsylvania; Monroe County, Ohio; and Marshall County, West Virginia, are expected to come online later this year.
Via: Pittsburgh Post-Gazette PowerSource > Consol’s natural gas production climbed in first quarter
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