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CONSOL Drives Up EURs in the Marcellus
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CONSOL Energy Inc. reported Q3 2016 Results
Production During the third quarter of 2016 produced 96.4 Bcfe, or an increase of 12% from the 86.1 Bcfe produced in Q3 2015. Marcellus Shale production volumes, including liquids, in the 2016 third quarter were 51.8 Bcfe, or ~13% higher than the 45.9 Bcfe produced in Q3 2015. Utica Shale production volumes, including liquids, in the 2016 third quarter were 22.5 Bcfe, or up ~47% from 15.3 Bcfe in Q3 2015. Capital expenditures increased in the third quarter to $48.7 million, compared to $23.4 million spent in the second quarter of 2016, primarily due to the restart of drilling activity. Utica Activity: Monroe County, OH well costs to be ~$9.3 million, assuming a 9,700 foot lateral. Utilizing these well costs, current strip pricing, and EUR's…- ✓ Full news archive — U.S., Canada & international coverage
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