Marcellus Shale

CONSOL Energy - Marcellus Shale Update

CONSOL Energy (CNX) reported operational data on the development of the Marcellus Shale for the first six months of 2011.

CONSOL Energy has drilled 40 Marcellus Shale wells to date in 2011, with 34 wells in Pennsylvania and 6 wells in West Virginia. The company plans to drill a total of 85 in 2011.  CONSOL Energy reported that two additional land rigs are scheduled to start drilling for the company by 10/1/2011, boosting its operated rig count to six.

CONSOL Energy reported total natural gas production of 6 Bcf from the Marcellus Shale during the second quarter of 2011.  This was a 161% increase from the same quarter in 2010.

Ultra Petroleum - Q2 2011 Marcellus Shale Summary

Ultra Petroleum (UPL) made rapid progress on the development of the Marcellus Shale during the second quarter of 2011.  Here are some highlights from the quarter:

• Participated in 50 gross or 23 net horizontal wells.
• Operating ten rigs in the Marcellus Shale.
• Six month Marcellus Shale total is now 81 gross or 39 net wells, and cumulative total since entering play in 2009 is 235 gross or 133 net wells.
• Net production averaged 106 million cubic feet of natural gas equivalents per day – 16% sequential and a 320% year over year increase.
• During July 2011, net production hit 131 million cubic feet of natural gas equivalents per day.
• Total inventory of 110 gross or 53 net wells either waiting on completion or awaiting pipeline connection in the Marcellus Shale.
• Total production in 2011 from the Marcellus Shale is estimated at 40 Bcf.
• Lycoming County EUR’s increased from 5.0 Bcfe to 6.3 Bcfe.
• Tioga County EUR’s increased from 3.75 Bcfe to 4.25 Bcfe.

Anadarko Petroleum - Q2 2011 Marcellus Shale Operational Update

Anadarko Petroleum (APC) issued an update on its operations in Pennsylvania during the second quarter of 2011, where the company is working on the Marcellus Shale formation.

Anadarko Petroleum reported that gross production from the Marcellus Shale reached a record level of 456 million cubic feet of natural gas equivalents per day from 117 wells in the most recent quarter.  This was 116 million cubic feet of natural gas equivalents per day net to Anadarko Petroleum.   The company reported that current gross production is 500 million cubic feet of natural gas equivalents per day from 125 wells.

Anadarko Petroleum said that the company drilled a well in 13.2 days (spud to rig release), a record for the company.  The company said that the average drilling cycle time for Marcellus Shale wells was 19.6 days in the second quarter of 2011, down from 26.8 days in the previous quarter.