Profit losses hurt Consol, even with upswing in production
Saturday, August 15, 2015
The Intelligencer / Wheeling News-Register reports Consol Energy’s production soared to 10.6 billion cubic feet per day in the Utica Shale during the second quarter of this year.
However, during that same period of time, Consol lost 22 cents per every 1,000 cubic feet of natural gas produced, racking up a total loss of $603 million.
Inadequate infrastructure in the Utica influences prices in the region, causing them to be lower than in other areas. The New York Mercantile Exchange lists the selling price of 1,000 cubic feet of natural gas at about $2.80, which is more than $1 less than at this time last year.
Via: The Intelligencer / Wheeling News-Register > Production Up, Profits Down for Consol Energy
Recent Consol Energy news:
- 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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