CONSOL Energy has started work on its first drill pad in Mahoning County, OH. And although the landowner where they’re drilling sold his mineral rights years ago and will receive next to nothing in the way of royalties or lease payments, he’s still happy about it.
Thus far MDN has refrained from commenting on the presidential campaign. It will be no surprise to MDN readers that we think Obama has an abysmal record on energy, particularly when it comes to shale gas drilling. It seems the Romney campaign shares that view. The Obama administration’s energy record is a recurring theme of [...]
An interesting article in yesterday’s Pittsburgh Post-Gazette explores how drilling firms and wildlife groups are working together to protect endangered species and reviving long-gone habitats for other species. It begins this way:
CONSOL Energy’s CNX Gas subsidiary has just leased 10,000 square feet at an industrial park in Columbiana County, Ohio. The new branch office will handle all of CNX’s Utica Shale efforts in Ohio, a signal that CNX has big plans for the Utica.
MarkWest Energy Partners, a major midstream player in the Marcellus and Utica Shales, just announced major expansion plans that will add an additional 600 million cubic feet per day (mmcf/d) of natural gas processing capacity which includes natural gas liquids (NGLs). Most of the new capacity will come from expansion of its Majorsville, WV plant. [...]
CONSOL Energy, the coal and natural gas giant with drilling operations in the Marcellus and Utica Shales, released it’s fourth quarter results along with a year-in-review yesterday. Even though the price of natural gas steadily declined during 2011, CONSOL was able to pay off all of its short term debt and ended the year with [...]
CONSOL Energy is increasing its capital projects budget by 21 percent in 2012, including a ramp-up in their commitment to both the Marcellus and Utica Shale plays. CONSOL says they will spend $395 million to drill 122 new Marcellus Shale wells in 2012 (their portion of a joint venture with Noble Energy), 39 of those [...]
A second joint venture that CONSOL has announced in recent months has just been completed. Yesterday, CONSOL received an initial $60 million of a total $594 million from Hess to develop 200,000 Utica Shale acres in Ohio. Previously, CONSOL entered another joint venture with Noble Energy for $3.4 billion to develop 663,350 acres in western [...]
CONSOL is on a roll, continuing to sell some of its Marcellus Shale assets to other energy companies and in the process, raising more than $4 billion in cash in just the past few weeks. The latest sale has been to Antero Resources.
Consol Energy Inc. has sold exploration and development rights for natural gas in the Ohio Utica Shale to Hess Corp. The $593 million deal was announced yesterday. The agreement gives Hess 50 percent of Consol’s mineral rights to some 200,000 acres. Hess will pay Consol $59 million when the deal closes in October and invest [...]
In March 2010, CONSOL Energy (Cecil, PA) paid Dominion Resources $3.5 billion for 500,000 acres of Marcellus Shale gas leases, instantly tripling their lease holdings. Since that time, CONSOL has continued to invest in Marcellus acreage and they now have 750,000 acres under lease. But CONSOL had a problem: Not enough money to develop their [...]
Joint ventures are a common way for oil and gas companies to share risk, expertise and resources. Here is a list of recent deals in the Marcellus shale:
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