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Thursday, February 11, 2016

CONSOL Energy Reports Record Gas Production

From The Intelligencer/Wheeling News-Register:
Even as the number of drilling rigs working in the US drops to a six-year low amid low natural gas prices, well sites continue popping up in to reach the Utica Shale formation in Belmont, Monroe and Harrison counties.

One company that keeps working in Ohio is Consol Energy, which reported record natural gas production of more than 1 billion cubic feet per day from Oct. 1 to Dec. 31. The company long known for coal mining produced 95.5 billion cubic feet during the quarter , a 35-percent increase from the same period in 2014. 
"The company continues to rapidly implement lessons learned from drilling and completing dry Utica Shale wells, as illustrated by reducing drilling costs per foot by nearly 50 percent from the first to the last well drilled in Monroe County," said Timothy C. Dugan, who serves as chief operating officer for Consol's exploration and production division.
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