J. Brett Harvey, CEO of CONSOL Energy, Inc., says the only disappointing thing about drilling gas in 2010 was the prices: an oversupplied market, partially the result of increased production from Marcellus Shale plays, has kept gas prices low. Consequently, the company has trimmed its horizontal drilling fleet for the Marcellus Shale. Until April 2011, CONSOL plans on running just three rigs– down from an average of five.
Harvey added that another of CONSOL’s goals for 2011 is to drill “a modest number” of exploratory wells in the Utica Shale after having initial success last year. The Utica Shale formation lies 3000 to 7000 feet below the Marcellus Shale. Read the full article here…
For more information on current development of gas play in the Utica Shale, visit this article on geology.com
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