CNX Gas Provides Data on Marcellus Vertical with Earnings Call

CNX Gas brought its first Marcellus well online last Friday. The vertical well was drilled to a depth of about 8,000 feet at an estimated cost of $1.3 million. Shale thickness is 80 feet. The well was stimulated with a single-stage water frac resulting in a flow rate of 1.3 MMcf per day on a 56/64" choke and 50 pounds of back pressure. Because of the strong initial reading, a 24-hour open flow test was not necessary. Instead, the well was immediately placed online where it is currently equilibrating and generating a choke-back pressure of 2,300 pounds. During this morning's conference call it was noted that in the few days since the press release was drafted, flow data to the meter has improved from 480 mcfd to 850 mcfd.

Randy Albert, senior vice president-emerging business units noted, "CNX Gas brought its first Marcellus well online two weeks after it was fraced, with no rig, well service, water treatment, or gas transmission issues. Just simple and efficient execution. This continues to be the hallmark of CNX Gas as we manage and drill our portfolio across the Appalachian and Illinois basins."

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