CONSOL Energy Reports Drop in Gas Production of 4 Percent for Q1

CONSOL Energy Inc. (NYSE:CNX announced operations updates for Q1 2013.

As quoted in the press release:

CONSOL’s Gas Division produced 39.2 Bcfe for the 2013 first quarter or 4% more than the 37.7 Bcfe produced in the 2012 first quarter. Consistent with previous quarter’s guidance, first quarter 2013 production was down 6% compared to the fourth quarter of 2012, as a result of frac schedules and other seasonal factors that limited wells turned into line. During the quarter, CONSOL’s Gas Division set a Baker Hughes U.S. land record by using their AutoTrak Curve Rotary Steerable tool to drill a Marcellus Shale lateral at 10,684 feet. This occurred in Central Pa. Gas Operations, on the Kuhns 3B well.

To view the whole press release, click here.