Consol Energy aims for 8-15% output growth

In this July 27, 2011 photo, the sun shines over a Range Resources well site in Washington, Pa. The company is one of many drilling into the Marcellus Shale layer deep underground and

Marcellus minded: Consol Energy plans liquids-rich drill programme

Keith Srakocic

related stories

Bill Lehane

 14 January 2013 15:21 GMT

US independent Consol Energy has targeted 8% to 15% growth in its gas production this year driven by a capital spend of between $835 million and $935 million.

Consol Energy is forecasting total production of between 170 billion cubic feet of equivalent and 180 billion cubic feet of equivalent, 95% of it dry gas as well as around 250,000 barrels of oil and 1.2 million barrels of condensates and liquids.

The explorer produced 156.3 billion cubic feet of equivalent in 2012.

Consol Energy chief executive J Brett Harvey said that the company would combine organic growth with possible divestments over the year, having racked up $350 million in asset selloffs last year.

Harvey said the coal, gas and water company was assuming it would make divestments in…

Become an Upstream member!

Membership includes a subscription to our weekly newspaper providing in-depth news from the energy industry, plus full-access to this site and its archives. Still not convinced? Try our free trial.

Already a member?

Login

Upstream share price index