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Howard Weil 42nd Annual Energy Conference – Consol Energy Inc.

Consol Energy Inc. · Mar 25, 2014 · 24 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 1
    Howard Weil 42nd Annual Energy Conference March 25, 2014
  2. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 2
    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…
  3. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 3
    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…
  4. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 4
    CONSOL Potential Stacked Shale Plays Rhinestreet _______ Burkett _________ Marcellus _________ Utica _________ 5
  5. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 5
    Pittsburgh Airport: 9,000 Contiguous Acres Potential Lateral Spacing Well EUR % Resource Play Wells Length (ft) (acres) Capex(1) (Bcfe)(1) Liquids (Bcfe) Upper Devonian (Burkett) 45 8,000 138 9.8 9.3 16% 419 Marcellus 45 8,000 138 9.8…
  6. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 6
    Dominion Transmission: 90,000 Contiguous Acres West Virginia Lost Creek 33,000 net acres (dry gas) Fink-Kennedy 46,000 net acres (wet gas) Racket- Newberne: 9,000 net acres (wet gas) Acreage allows for +350 Marcellus…
  7. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 7
    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…
  8. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 8
    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
  9. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 9
    Recent West Virginia Results Impressive PHL13 (*completed using RCS/SSL) 6 wells 7,999 average length 13.0 MMcf/d 24 hr IP on first two wells, all wells IPd greater than 10.0 MMcf/d AUD3 1 well 8,396 6.95 MMcf/d 24 hour IP…
  10. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 10
    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'…
  11. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 11
    Pre vs. Post RCS/SSL Results SWPA are actual results - Seeing 10 MMcf/d 30-day average production results in area W.Va. results are for the PHL pad - Data from first two wells is encouraging In CPA, post RCS/SSL results are…
  12. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 12
    Upper Devonian Exploration Well NV39F 5 underlying Marcellus wells on pad Washington County, PA Drilled lateral length of 4,889 Fracd 17 stages in Burkett Shale Tested 3.0 MMcf/d, TIL 6/21/13 Currently producing 2.9 MMcf/d…
  13. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 13
    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
  14. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 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…
  15. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 15
    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…
  16. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 16
    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…
  17. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 17
    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…
  18. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 18
    CNX Hedge Program and Integrated Infrastructure Actively Monitored Hedge Program: 2014 Competitor and CNX Hedge Positions Recently increased hedge position for 2014 and (As Percent of Total Production compared to 2013) will add…
  19. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 19
    Coal Division Successfully concluded expansion: - Completed BMX Mine - Completed Enlow Fork overland belt project - Completed new Buchanan Mine portal Segment should begin producing substantial cash flow: (Tons in millions)…
  20. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 20
    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. 21
  21. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 21
    Appendix 22
  22. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 22
    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…
  23. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 23
    Firm Transportation and Firm Sales 1,200,000 1,000,000 800,000 MMBtu/d 600,000 400,000 200,000 - 2014 2015 2016 Columbia Dominion Texas Eastern (TETCO) East Tennessee TETCO Firm Sale 1 TETCO Firm Sale 2…
  24. Howard Weil 42nd Annual Energy Conference – Consol Energy Inc. – slide 24
    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 and expansion rights will allow for…

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