CONSOL Energy rolls out $1.5 billion capital budget

CONSOL Energy will spend as much as $1.5 billion this year in an effort to achieve 30% growth in natural gas production. The Pittsburgh firm will spend approximately $1.1 billion on drilling and completion costs in the Marcellus and Utica shales alone, with half of its total drilling capital invested in liquids-rich areas. CONSOL said it intends to increase its proportion of natural gas liquids, condensates and oil to 10-15% within two years, up from the 5-8% projected in 2014.

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