"Consol Energy to reduce shale gas drilling in 2011, citing low prices"

... The company said that unlike a number of other producers, it does not have to drill to hold its leases. "With most of our 752,000 Marcellus acres either held by shallow production or owned in fee, we can scale back our drilling plans while retaining our valuable Marcellus Shale acreage," Consol said in a statement.

The company added that it in 2011 it will reduce its planned build-up of its horizontal rig fleet in the Marcellus from an average of five rigs to an average of "just under four rigs." ..."
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/8463461

.

Views: 69

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service