CNX Gas Agrees to JV with Huntley & Huntley
CNX Gas Corporation has reached an agreement with Monroeville, Pa.-based Huntley & Huntley Inc. to jointly develop the West Buena Vista property in Westmoreland and Allegheny counties, in southwestern Pennsylvania. The area of mutual interest includes 26,000 acres. The primary target is conventional gas, however the acreage is also believed to have Marcellus Shale potential. Huntley & Huntley will be the operator and is expected to proceed immediately with development.
"We are enthused about working with Huntley & Huntley, which operates more than 300 wells in southwestern Pennsylvania, to more quickly develop our extensive acreage position," Robert M. Belesky, vice president-business development, said.
Mr. Belesky continued, "Outside of this AMI, CNX Gas just completed its first conventional gas well in southwestern Pennsylvania, where testing yielded an open flow rate of 1.2 million cubic feet per day."
- CNX Gas Finalizes $700MM Loan Agreement (May 10)
- CNX Gas' Marcellus Shale Well Achieves Record Results (Mar 22)
- CNX Budgets $400M for Shale Gas, CBM (Jan 05)