U.S. Markets open in 8 hrs 38 mins

CONSOL sees 2014 gas production 215 Bcfe-235 Bcfe

CONSOL Energy expects its 2014 gas production to range between 215 Bcfe-235 Bcfe. Q1 gas production, net to CONSOL, is expected to be approximately 47 – 49 Bcfe, or relatively flat from the 48.5 Bcfe produced in Q4, as a result of seasonal factors limiting wells turned into line. CONSOL's Marcellus Shale segment is expected to produce between 107 Bcfe-109 Bcfe in 2014, or 87% more than the 57.8 Bcfe produced in 2013. CONSOL Energy expects first quarter 2014 total coal production to be between 7.2M-7.6M tons. Annual 2014 total coal production guidance is 30.1M-32.1M tons. Buchanan Mine's first quarter production is expected to be between 1.1M-1.2M tons, while annual production guidance is now estimated at 4.2M-4.7M tons. For 2013, the Gas Division worked the entire year without a lost-time incident, continuing its streak dating back to 1994. In the area of compliance, CONSOL's Gas Division saw violations increase by over 21%, from 38 to 46 compared to the previous year.