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Consol Update Marcellus & Utica Shale Ops; 4Q14
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CONSOL Energy replaced 466% of its 2014 production, when considering increases from extensions and discoveries of 1.1 Tcfe. Production in 2014 was 236 Bcfe (net to CONSOL).
Much of the increase in extensions and discoveries was due to the company's highly successful Marcellus Shale program. As of December 31, 2014, the Marcellus Shale consisted of 4,235 Bcfe of proved reserves, or a 26% increase from the 3,373 Bcfe when compared to year-end 2013. Marcellus Shale proved developed reserves were 1,367 Bcfe, or an increase of 89% from 725 Bcfe, over the same period.
Marcellus Shale OpsDuring 2014, CONSOL Energy turned in line 53 operated Marcellus Shale wells with an average completed lateral length of approximately 7,600 feet and expected ultimate recoveries (EUR) ranging from approximately…
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