CONSOL Energy (CNX) reported the results of a Marcellus Shale well that produced 17.9 million cubic feet of natural gas during a peak 24 hour period. This was the highest production rate reported on any well in the history of the company.
CONSOL Energy drilled 17 Marcellus Shale wells during the second quarter of 2012 and put an additional 18 onto production.
CONSOL Energy has also increased the average lateral length on Marcellus Shale wells and reported an average lateral length of 4,600 feet during the first two quarters of 2012, compared to 3,300 feet in 2011. The company has also reduced average costs per frac stage and spent $181,000 per stage in 2012 to date compared to $205,000 per stage in 2011.