CONSOL Energy Inc. detailed first-quarter 2015 production results for Marcellus and Utica operations, the company said April 28.
Marcellus Shale production volumes in the 2015 first quarter were 36.3 billion cubic feet equivalent (Bcfe), 75% higher than first-quarter 2014’s 20.7 Bcfe.
Marcellus Shale costs were $2.62/Mcfe, 56 cents better than first-quarter 2014’s $3.18/Mcfe.
In the Utica Shale, 9.5 Bcfe were produced in the first quarter, up from first-quarter 2014’s 1.2 Bcfe. Costs in the shale were $2.48/Mcfe, better than first-quarter 2014’s costs, the company added. Rapidly increasing volumes continued to contribute to lower unit costs. CONSOL plans to expand Utica operations because of additional activity currently underway in Greene and Westmoreland counties, Pa. Monroe County, Ohio and Marshall County, W. Va. These dry Utica wells are expected to come online in the second half of the year.
During the quarter, CONSOL narrowed its Marcellus development plan primarily to Greene, Washington and Allegheny counties, Pa., wet Utica development to Noble County, Ohio and dry Utica development to Monroe County, Ohio. Operations outside of these areas of focus were initiated prior to the quarter.
In the Marcellus during the first quarter, CONSOL drilled 15 wells in Greene and Washington counties, Pa. and eight at the Pittsburgh International Airport in Allegheny County.
In the central Pennsylvania sub-region, a two-well delineation pad was drilled and completed in Jefferson County, and sales are scheduled to occur early in the second quarter. Greene and Washington counties saw 11 wells completed and 20 turned in line. These 20 included three Burkett wells and one Rhinestreet well-- stacked pay opportunities.
The company drilled its second and third dry wells in Monroe County, Ohio, and the fourth is underway. The Monroe County, Ohio, pad will total four dry Utica wells and one wet Marcellus well. Also, CONSOL is currently drilling a single dry Utica well in Westmoreland County, Pa, that will be completed in the second quarter.
Looking ahead to the second quarter, CONSOL plans to drill one dry Utica well in Greene County, Pa. In Marshall County, W. Va., CONSOL's joint venture partner drilled a dry Utica well on a 7-well Marcellus pad. This well is scheduled for completion activity in the third quarter.
CONSOL also completed seven wells in the highly productive Shirley-Pennsboro Field in West Virginia.
The E&P division had $250.3 million in capex during the first quarter.
Canonsburg, Pa.-based CONSOL Energy Inc. operates in the Appalachian Basin.
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