…and now below the Marcellus, there is another!
WHEELING, W.Va. — Consol Energy says it’s shifting some 2011 investment dollars into exploring the gas-drilling potential of Utica shale, a geologic formation older and deeper than the now-popular Marcellus shale.
The Pittsburgh-based coal producer has been expanding its gas operations, and its latest earnings report says it hit the Utica reserves at 8,450 feet in Belmont County, Ohio.
Consol controls more than 70,000 acres around the so-called discovery well, said Chief Executive Officer Brett Harvey.
Although Consol has been focused on Marcellus reserves, Harvey said the Utica deserves further testing. It underlies much of Ohio, West Virginia, Pennsylvania and New York, and small parts of Maryland, Kentucky and Virginia.
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