Operational Updates
CONSOL - Marcellus EUR, Lateral Length, 24-hour IP, Reserves and Well Cost
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On January 17, 2012, CONSOL reported 78 horizontal wells were drilled and 57 wells were turned online in the Marcellus Shale last year. Total well costs averaged $5.0 million. The expected ultimate recovery (EUR) averaged 5.2 Bcf per well. The average drilled lateral was 3,850 feet, with an average treated portion of 3,367 feet. Maximum 24-hour production averaged 5.0 MMcf per well per day, while 30-day production averaged 3.5 MMcf per well per day. Total daily production from the Marcellus Shale grew from 40 MMcf per day as of December 31, 2010 to 77.5 MMcf per day (net to CONSOL) as of December 31, 2011.
The reserves from our 2011 Marcellus Shale program averaged 5.2 Bcf per well. When one considers that CONSOL's treated laterals averaged 3,367 feet, this means that the company booked…
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