Exploration & Production | Top Story | Quarterly / Earnings Reports | First Quarter (1Q) Update
Despite Rough Weather, CONSOL Touts Record Gas Production
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CONSOL Energy Inc. has reported a production update for the quarter ended March 31, 2014.
Nicholas J. DeIuliis, president, commented: "Despite operating during the coldest winter in the past thirty years, CONSOL Energy's gas operations and coal mines again demonstrated strong performance."
In natural gas, CONSOL Energy produced a record 48.4 Bcfe in the 2014 first quarter, which was within the guidance range of 47 – 49 Bcfe. Gas production was 23% higher than the 39.2 Bcfe produced in the year-earlier quarter. The growth engine for gas production is the Marcellus Shale, where 2014 first quarter production of 20.7 Bcfe was nearly double the 10.7 Bcfe produced in the year-earlier quarter. CONSOL Energy re-affirms its annual gas production guidance of 215 – 235 Bcfe.
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