Record annual average daily production of 154.4 MMcfe per day, an increase of 66% over 2013
Total proved reserves increased 57% to 1.3 Tcfe
Drill-bit finding and development cost of $0.67/Mcfe
Ended 2014 with approximately $420 million of liquidity
STATE COLLEGE, Pa., Feb.
Proved developed reserves increased to 586.7 Bcfe, or 65%, over 2013 Drill-bit F&D in Butler Operated Area of $0.41/mcfe, among the best in the Marcellus Shale Overall drill-bit F&D of $0.67 / mcfe Successfully replaced ~972% of production in 2014 SEC PV-10 of $1.2 billion, an increase of 80% over 2013 SEC PV-10 Successful confirmation of downspacing to 650 feet from 750 feet in Butler Operated Area
STATE COLLEGE, Pa., Jan.
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