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
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.