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 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:
CONSOL Energy has just released an operational update which includes an update on its shale gas drilling operations in Pennsylvania and West Virginia:
The Municipal Authority of Westmoreland County, PA will start a new water testing and monitoring program for the Beaver Run Reservoir which supplies water to about 150,000 residents. CONSOL Energy has 100 shallow gas wells on municipal property near the Reservoir, and is starting to drill Marcellus Shale wells. The new water testing program is [...]
There was a lot of speculation in 2009 about a fish kill over a 30-mile stretch of Dunkard Creek in West Virginia. We now know that the cause was leakage from coal mines. But early on, wild theories were being spun. Our favorite was that the algae killing the fish, which grows only in salty [...]
CONSOL Energy had a banner year in 2010 for natural gas discovery and production. CONSOL’s daily production of shale gas nearly tripled in 2010 from 2009, in large part due to their acquisition of Dominion Resources. From a recent press release we get these numbers:
A bone-headed move by Pennsylvania’s top Senate Republican: The state Senate president, a key player in the debate over natural-gas drilling in Pennsylvania, accepted a free trip from one of the state’s largest energy companies to see the Pittsburgh Steelers play in the Super Bowl. Senate President Pro Tem Joe Scarnati, R-Brockway, had his ticket, [...]
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