Wednesday, July 29, 2009

CNX Gas Leasing in the Marcellus Shale of West Virginia and Pennsylvania

CNX Gas acquires more WVa, Pa leases

The Associated Press

CHARLESTON, W.Va. - CNX Gas Corp. says it's leased approximately 40,000 acres of Marcellus Shale natural gas property in West Virginia and Pennsylvania.

Canonsburg, Pa.-based CNX said Tuesday the separate leases with its former corporate parent Consol Energy and a Columbia Energy Group subsidiary increase its Marcellus holdings to 230,000 acres. The Marcellus formation is believed to hold vast amounts of gas deep under West Virginia, Pennsylvania and New York.

CNX says the property is in Marshall, Monongalia and Wetzel counties and Pennsylvania's Washington and Greene counties.

Consol spun off CNX Gas as a separate public company in 2005, but still holds the majority of its stock.

No comments: