Reserves
Consol Adds 934 Bcfe to Proved Reserves
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During 2015, CONSOL Energy Inc. added 934 Bcfe (net to CONSOL) of proved reserves through extensions and discoveries. As of December 31, 2015, total proved reserves were 5.6 Tcfe, which included 583 Bcfe, or 10.3%, of oil, condensate, and liquids. Marcellus Shale reserves account for 369 Bcfe, or 14.4%, of these heavier hydrocarbons.
CONSOL Energy replaced 284% of its 2015 production, when considering increases from extensions and discoveries of 934 Bcfe. Production in 2015 was 329 Bcfe (net to CONSOL).
During 2015, drilling and completion costs incurred directly attributable to extensions and discoveries were $618.3 million. When divided by the extensions and discoveries of 934 Bcfe, this yields a drill bit finding and development cost of $0.66 per Mcfe, compared to $0.76 per Mcfe at…
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