Exploration & Production | Top Story | Forecast - Production | Capital Markets | Capital Expenditure
Consol Energy Talks 2016 Budget; Focus ON Drill, Uncomplete Wells
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CONSOL Energy Inc. announced an updated 2016 capital expenditure and operational forecast for the E&P Division.
Details: $205-325 million (down $185 million from previous guidance of $400-500 million) $110-210 million D&C activity $10-15 million CBM activity $40-50 million for Midstream $55-65 million for Land, Permitting & Business Development Complete 37% of current DUC well inventory The extent of drilling activity in 2016, if any, will primarily be a function of rates of return and commodity prices, and the assessment of the dry Utica wells drilled in 2015. The company expects to make a decision regarding drilling capital allocation before mid-year 2016.In 2016, the E&P Division expects capital expenditures of $205-$325 million, which is $185 million lower than the previous…
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