Marcellus Shale

CONSOL Energy Reports On Central Pennsylvania Marcellus Shale Operations

CONSOL Energy (NYSE:CNX) reported on its Marcellus Shale operations in Central Pennsylvania for the third quarter of 2012.  The company did not drill any wells in this area of operations as it completed its drilling program in the previous quarter.

CONSOL Energy reported production results at the Gaut 4 pad in Westmoreland County, Pennsylvania.  The Gaut 4A and Gaut 4D wells produced at peak rates of 17.9 million and 23.7 million cubic feet per day of natural gas, respectively.

CONSOL Energy also finished completion operations at the well DeArmitt 1 South pad and expects all six wells to be on production by the end of 2012.   The company finished drilling at the Bowers 1 pad and expects to start completion operations here before the end of 2012.

CONSOL Energy Reports Marcellus Shale Gusher

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.

Rex Energy Updates Marcellus Shale Well Costs And EUR's

Rex Energy (REXX) issued updated information on the company’s cost to drill and complete wells into the Marcellus Shale in 2011.  The company also increased the estimated ultimate recovery (EUR) on Marcellus Shale wells.

Butler County Operated

Rex Energy said that wells in this area cost $5.3 million to drill and complete, up from $4.7 million in 2010.  These wells are also more productive and have a EUR of 5.3 Bcfe in 2011, up from 4.4 Bcfe in 2010.

Westmoreland County – Non Operated

Rex Energy said that wells in this area cost $5.8 million to drill and complete, up from $4.7 million in 2010.  These wells are also more productive and have a EUR of 4.2 Bcfe in 2011, up from 3 Bcfe in 2010.

Centre and Clearfield Counties – Non Operated

Rex Energy said that wells in this area cost $5.8 million to drill and complete, up from $4.7 million in 2010.  These wells are also more productive and have a EUR of 4.1 Bcfe in 2011, up from 3 Bcfe in 2010.

The well costs and EUR’s are based on 3,500 foot laterals and a twelve stage hydraulic fracturing operation.