Consol Energy Inc. will put more focus on its natural gas production. In order to do this, it had sold its Consolidation Coal Co. subsidiary to Murray Energy Corp. at $3.5 billion value.

 

The five coal mines of Consol produced a combined 28.5 million tons of thermal coal in 2012 and have 1.1 billion tons of Pittsburgh No. 8 seam reserves. As the coal mine not growing very fast because of the environment rules in American, it will close the five mines in the year end, includes 21 towboats and 600 barges.

 

Console plans to reach a goal to increase its gas production. In 2014, its gas is expected to reach the equivalent 210-225 bcf, while including 7-8% liquids or condensates, which is a additional 22-30% task when the 2013 whole expected production. The sale of the mine is very conductive for realizing its production goals in 2014. But its bigger plan in 2015 and 2015 is to increase by 30%.   

 

Consol announced that it had produced 46.1 bcfe gas in the third quarter, a 17% growth compared with the same period in 2012. The all energy output of it in 2013 third quarter is 491 MMcfd of gas, 397 b/d of oil and condensate, and 1,340 b/d of natural gas liquids.

 

Cooperated with its partner Noble Energy, it adopts 8 rigs accessible to the Marcellus shale. In 2014, the 8 rigs were remained to be its high recorded number. The company has drilled 12 horizontal Marcellus shale wells and three Utica shale wells recently. Laterals in the two general well are respective 8,817 ft in and 9,893 ft. 

 

The most profitable Marcellus well, NV 38C In Washington County had 19 MMcfd production rate. By the shorter stage length completion techniques, it is completed together with other three wells on the NV 38 pad.

 

Consol’s first Upper Devonian well, NV 39F produced 3 MMcfd in June. But the well had been in a flat decline rate which had been 2.9 MMcfd in Sept.30. The production in two Marcellus shale wells reaches the company expectation.

 

The Console has set more goals in 2014, which are to drill a quantities shale wells and test Upper Devonian wells from Marcellus pads.

 

The company has also started its drilling journey in West Virginia in which Noble Energy targets at 75 wells in 2013.

 

Consol operated three wells in the quarter on the NBL 19 pad, with laterals of 9,396-10,360 ft in its Utica shale joint venture with Hess Corp. It has finished the ninth well in 2013.