PITTSBURGH, March 22 /PRNewswire-FirstCall/ -- CNX Gas
Corporation (NYSE: CXG), a leading Appalachian gas producer,
announced production results from its latest horizontal well
targeting the Marcellus Shale, the GH2BCV well in central
Greene County, PA. This well has
been producing for 16 days, at an average production rate of 4.9
MMcf per day. The peak daily production rate was 5.7 MMcf, and the
current daily production rate is 5.5 MMcf. The well was drilled
with a horizontal lateral of 2,035 feet and was hydraulically
fractured with a 7-stage frac.
"Our latest horizontal Marcellus Shale well is achieving record
company results," commented J. Brett
Harvey, chief executive officer.
The previous highest producing well was the CNX 3 well, which
came on line in October 2008. That
well had cumulative production of 1 Bcf through February 2010.
CNX Gas's current daily net Marcellus Shale production is 21
MMcf from 16 horizontal wells. The Company has budgeted
$110 million in 2010 for Marcellus
Shale drilling out of a total capital budget of $400 million. A second horizontal drilling rig
for the Company's Marcellus Shale program will be arriving in
April. CNX Gas has an option to obtain a third rig later in the
year.
SOURCE CNX Gas Corporation