Production
CNX Gas replaced 340% of its 2006 production of 56.1 Bcf, making it one of the largest gas producers in the Appalachian Basin.
Reserves
The company's proved reserves as of December 31, 2006 totaled 1,265 billion cubic feet (Bcf), an increase of 135 Bcf, or 11.9 percent, compared with the 1,130 billion cubic feet of proved reserves as of December 31, 2005. During the year, 89 Bcf of reserves were added from the drilling program, while 102 Bcf consisted of upward revisions. There were no proved reserve acquisitions or dispositions during the year.
The proved reserve base of 1,265 Bcf consists of 611 Bcf of proved developed reserves and 654 Bcf of proved undeveloped reserves. The proved developed reserves include 573 Bcf of proved developed producing reserves. The latest report also assumes that the proved undeveloped reserves can be developed at a constant cost of $0.84 per Mcf, which includes gathering and compression capital.
Geographically, the majority of proved reserves, 1,221 Bcf, are associated with CNX Gas Virginia coal bed methane operations. An additional 33 Bcf of reserves are associated with Mountaineer coalbed methane operations.