You are not alone - not sure that is helpful, but $2.01 is not really all that bad.
There is more to the story but cut off. They revs are way down but they continue the game. Not sustainable but it is at least sustainable for a while.
Consol Energy increased its natural gas production in the Marcellus and Utica shale plays while reducing its costs to pull the fuel from the ground, the Cecil-based gas and coal company reported today in its first-quarter earnings.
Consol’s Marcellus production during the quarter was 36.3 billion cubic feet equivalent (Bcfe), up 75 percent compared to the same period last year. Marcellus Shale costs were $2.62 per thousand cubic feet equivalent (Mcfe), which is a $0.56 per Mcfe improvement from the first quarter of 2014.
In the Utica, production clocked in at 9.5 Bcfe, up from 1.2 Bcfe in the year-earlier quarter. Utica costs were $2.48 per Mcfe, “which is a substantial improvement from the first quarter 2014,” the company said.
“Throughout the quarter we have continued to refine, and reduce, our 2015 E&P [exploration and production] budget, while high-grading our development plan to maximize our rates of return in what continues to be a challenging commodity price environment," Nicholas DeIuliis, president and CEO, said in a statement. "We continue to focus on areas within our control: driving drilling and completion efficiencies to lower capital and operating costs, working with our service providers to better align terms with current market conditions, and prudently maintaining a strong balance sheet and liquidity position."
Consol expects its Utica program to expand due to the additional activity underway in Greene and Westmoreland counties, Pennsylvania; Monroe County, Ohio; and Marshall County, West Virginia. Those dry gas wells are expected to come online in the second half of the year.
Overall, the company’s natural gas division produced 71.6 Bcfe, a 48 percent year-over-year increase. The company’s annual production guidance remains at 30 percent growth for 2015 and 20 percent for 2016.
Consol reported net income of $79 million for the quarter, or 34 cents per diluted share. That’s down from $116 million, or 50 cents per diluted share, in the same per
I don't think these are shorts - I think someone who holds a large position is getting out. Why? Anyone's guess - just an odd approach.
Something goofy is going on with this stock. We see big block sells way too often in concentrated time periods that seem to be market orders. Another happened today and I missed the buy at the 2.35 level - i am sure the chance will come again.
Starting to think the same thing - what on earth does he see with this???? To call it a boring stock is an understatement - he usually does not dabble in such things.
Not sure either scenario is very good. Could you imagine though if this is all a coordinated hoax to get the price WAY DOWN??
Gven the events of toady there has to be some people sick to their stomach. I hope they fry him if this turns out to be true. I hope that is not the case so those who held this in good conscience don't lose everything. GL...
They look pretty healthy to me - I hope you are right but that was a shorts dream.