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Marcellus Operator - No New Drilling; Will Complete 36 Wells In 2016
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On January 29, 2016 provided an update on its 2016 plan.
Well Activity Wells Plan to Complete : 31 Wells Wells To Turn Online : 36 Wells Marcellus Shale Wells Plan to Complete : 25 Wells Wells To Turn Online : 52 Wells Utica Wells Plan to Complete : 6 Wells Wells To Turn Online : 15 Wells Capital Expenditure CapEx : 205-325 MillionFor 2016, CONSOL Energy recently revised its E&P Division capital budget to approximately $205-$325 million, which is $185 million lower than the previous guidance of $400-$500 million, based on the midpoints. The lower end of the capital budget range supports CONSOL Energy's base-case development plan, which excludes any drilling activity in 2016, but instead focuses on completing approximately 31 wells that are already drilled, plus turning in line an…
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