Raymond James 35th Annual Institutional Investors Conference March 5, 2014
Appalachian E&P Transformation Creating Value CONSOL acquires CONSOL announces gas 90,000 acres in W. Va. reserves increase 44% CONSOL announces sale of five mines CONSOL recruits new COO Gas CONSOL announces CONSOL…
2013 Was a Year of Accomplishment Upgraded the C-suite with three executives having skill sets needed for the companys transformation Ended 2013 with a record eight rigs running in the Marcellus Shale Improved our capital…
Strong Liquidity Position of 2.1 Billion Cash on hand of 327 million Accounts receivable securitization and revolving credit facilities of 1.8 billion Amount/ Amount Letters Amount December 31, 2013 ( in million) Capacity Drawn of…
Pittsburgh Airport: 9,000 Contiguous Acres Marcellus Shale, Upper Devonian, and Dry Utica Shale Potential Economics justified on 6 pads with up to 49 Marcellus Shale wells. Additional value from potential Upper Devonian and Utica…
Dominion Transmission: 90,000 Contiguous Acres West Virginia Fink-Kennedy 46,000 net Racket- acres Newberne: (wet gas) 9,000 net acres (wet gas) Lost Creek 33,000 net acres (dry gas) Farm-in acquired for only…
Projected Dual Pay - The Appeal of Monroe County 11k highly contiguous acres 100% WI to CONSOL Energy Acquired for dual wet Marcellus and dry Utica development Very close to water, pipelines, and gas processing Multiple cost…
Recent IP rates in and around Monroe County, OH 30.3 MMcf/d Avg 24-hr rate 32.5 MMcf/d Avg 24-hr rate Recent nearby Utica Shale and Marcellus Shale IP rates have been very encouraging. 9
Recent West Virginia Results are Impressive PHL13 (*completed using RCS/SSL) 6 wells 7,999 average length 13.0 MMcfd 24 hr IP on first two wells, all wells IPd greater than 10.0 MMcfd AUD3 1 well 8,396 6.95 MMcfd 24 hour…
Improved Marcellus Drilling and Completion Results Drilling Summary 2011 2012 2013 Wells TD'd 78 64 46 Lateral Ft 300,466 328,428 366,615 Total MD 92,264' 794,098' 730,316' Average Lateral 3,853' 5,514' 7,970' Average TMD 11,824'…
Pre vs. Post RCS/SSL Results SWPA are actual results - Seeing 10mmcf/d 30-day average production results in area W.Va. results are for the PHL pad - Only 2 wells of data due to curtailment resulting from too much production In…
Upper Devonian Exploration Well NV39F 5 Underlying Marcellus Wells on Pad OH PA CONSOL MD WV Area Nineveh Core VA Washington County, PA Wet Gas Dry Gas Drilled lateral length of 4,889 Fracd 17 stages in Burkett Shale…
Upper Devonian Burkett Shale Sweet Spot CONSOL is well situated within what could be the best part of the Burkett fairway, with an estimated 345,000 net acres of potential. 14
Increased Proved Reserves by 44% (in Bcfe) 6,000 172 105 (172 ) 1,633 5,731 5,000 3,993 4,000 3,000 44% increase in proved reserves 87% increase in Marcellus Shale 2,000 proved reserves 948% reserve replacement 1,000…
Achieving 30% Gas Production Growth Hired Timothy Dugan as COO Gas 30 years experience in shales: Barnett Utica Marcellus Operational roles at: Chesapeake Cabot EQT Experience in: Reservoir Engineering Field Operations…
2014 Strategy: Grow Gas Production by 30% (in Bcfe) Gas Production 400 +30% 300 +30% 215.0 - 235.0 200 172.4 153.5 156.3 127.9 94.4 100 76.6 48.6 48.4 56.1 58.2 44.5 0 2003 2004 2005 2006 2007 2008 2009 2010 2011…
2014 Marcellus Shale Drilling Program: 162 wells Large Acreage Position within Marcellus Fairway: approximately 446,000 net acres 87% of Acreage HBP Allowing for Development Flexibility 50% of approximately 690,000 gross acres NBL…
CNX Active Hedge Program Actively Monitored Hedge Program: 2013 Hedge Positions Production Coal Production Hedge + Priced Coal Recently increased hedge position for 2014 and 1,000,000 84% 62% 59% 74% 51% 90% will add incremental…
Firm Transportation and Firm Sales Total Marcellus/Utica Shale, CBM and Conventional 1,200,000 1,000,000 800,000 MMBtu/d 600,000 400,000 200,000 - 2014 2015 2016 Columbia Dominion Texas Eastern East…
Processing Position: Marcellus / Utica CONSOLs current position has allowed for the development of Marshall County, W.Va. acreage, in partnership with Noble Energy Future processing capacity under negotiation and expansion rights will…
Coal Segment Successfully concluded expansion: Completed BMX Mine Completed Enlow Fork overland belt project Completed new Buchanan Mine portal Segment should begin producing substantial cash flow: Low-Vol High-Vol Thermal…
Summary We have the team We have the assets We have the balance sheet We have the culture and value system, and We have the skill set to be successful Our Assets, Strategy, and People Create An Investment Opportunity. 23
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