CONSOL’s First Pittsburgh Airport Wells Begin to Flow NatGas

Pittsburgh AirportUPDATE 7/20/16: Yesterday afternoon, after we had published this story, CONSOL Energy issued a press release announcing a few more details. We have included the release below.

In early 2013 the Pittsburgh International Airport and Allegheny County, PA signed a deal with CONSOL Energy to lease 9,000 acres surrounding the airport for natural gas drilling (see $50M Check in the Mail: Pittsburgh Airport Lease a Done Deal). The airport received a $50 million signing bonus and the promise of 18% royalties on anything produced and sold. In August, CONSOL released their drilling plan, which calls for 6 well pads, 47 Marcellus Shale wells on those pads (with the possibility of drilling Upper Devonian wells later on), three fresh water ponds (“impoundments”) and 17 miles of gathering pipelines (see CONSOL Energy Reveals Drilling Plan for Pittsburgh Airport). All told, in the coming years the airport may see as much a $1 billion in remuneration. It’s staggering. CONSOL has been busily drilling (MDN editor Jim Willis has spotted rigs when he’s flown into/out of the airport). Exciting stuff. Now, finally, the first six Marcellus wells are online and producing…

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