CONSOL Energy (CNX) issued an operations update for the third quarter of 2011 and disclosed additional information on the company’s activity in the Marcellus Shale.
CONSOL Energy has drilled 58 wells into the Marcellus Shale year to date through 9/30/2011 across various parts of its portfolio.
Southwest Pennsylvania - 36
Central Pennsylvania - 16
Northern West Virginia - 6
CONSOL Energy expects to drill between 80 and 85 Marcellus Shale wells for the full year.
CONSOL Energy has finished drilling and completing ten wells from the Hutchinson pad in Westmoreland County, Pennsylvania. The company reported the peak twenty four hour natural gas production rates from the first five wells as follows:
Hutchinson E – 9.0 million cubic feet per day
Hutchinson – A – 6.5 million cubic feet per day
Hutchinson – F – 5.2 million cubic feet per day
Hutchinson – G – 12.2 million cubic feet per day
Hutchinson – H – 6.5 million cubic feet per day
CONSOL Energy said that the ten wells cost $48 million to drill and complete.
In West Virginia, CONSOL Energy reported that the Phillipi 1A and Phillipi 1C wells had twenty four hour production rates of 4.2 million and 3.2 million cubic feet per day, respectively.