September 7, 2011 Shareholder Presentation CONSOL Energy Inc. CONSOL Energy / Hess Corporation Utica Shale Joint Venture
CONSOL Energy & Hess Corporation JV CNX to sell an interest in Utica Shale asset to Hess Corporation Total deal valuation of nearly 593 million CNX selling 50% interest in Utica Shale position (nearly 200,000 acres in OH) for…
CONSOL Energy & Hess Corporation JV Transaction Rationale Marks to market entire Ohio Utica Shale position at 6,000 / acre Validates legacy CNX Gas and Dominion asset base Partners with a highly respected, global integrated energy…
CONSOL Energy & Hess Corporation JV Utica Shale JV Acreage 197,656 total net acres Dry, wet & oil windows Dry 11,500 acres 75 horizontal wells Wet 83,500 acres 545 horizontal wells Oil 102,500 acres 900 horizontal wells…
CONSOL Energy & Hess Corporation JV Development Plan Potential Rig Schedule Rig schedule ramps to an average 8 of 5 by 2015 6 5 5 5 4.5 3.5 4 Exploration across acreage 4 2 2 1 Accelerates development of acreage -…
CONSOL Energy & Hess Corporation JV CONSOL Retains Growth Targets CONSOL is maintaining its 2015 production goal of 350 Bcf The original goal was established at this level post Dominion acquisition Any success in the Utica Shale…
CONSOL Energy & Hess Corporation JV Tremendous Value Creation in 15 Months In 2010, CNX assigned no value to Dominions 120,000 Utica Shale acres in Ohio Over the past 15 months, Utica Shale acres in Ohio have sharply appreciated in…
CONSOL Energy & Hess Corporation JV September 7, 2011 Shareholder Presentation 9
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