CONSOL Energy’s 2013 Plan: Spend Lots on Marcellus & Utica Shale
CONSOL Energy today released it’s spending and operations plans for 2013. Among them: They will spend $600 million to continue developing their Marcellus Shale operations, of which $415 million will go for drilling new wells. They plan to drill 126 new Marcellus wells this year, 90 of them in the liquids-rich portion of the play. CONSOL also plans to spend $122 million on their joint venture with Hess to drill 27 new wells in the Utica Shale.
Today’s CONSOL announcement: