Operational Updates
CONSOL Energy Announces Marcellus and Utica Operations Update
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CONSOL Energy had a very successful 2011 Marcellus Shale drilling program. In 2011, in the Marcellus Shale Joint Venture with Noble Energy, 78 gross wells were drilled, all by CONSOL. The geographic breakdown is as follows: 19 in Central Pennsylvania, 50 in Southwest Pennsylvania, and 9 in Northern West Virginia. Total daily (net) Marcellus Shale production nearly doubled from 40 MMcf per day as of December 31, 2010 to 77.5 MMcf per day as of December 31, 2011. During 2011, 57 horizontal wells were placed online. Total well costs averaged $5.0 million per well. The average completed lateral was 3,853 feet (or, 3,367 perf-to-perf), with twelve frac stages. Maximum 24-hour production averaged 5.0 MMcf per well, while peak 30-day production averaged 3.5 MMcf per well per day. EURs averaged…
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