CNX Gas Announces That the Jewell Ridge Pipeline is Placed Into Service
October 31 2006 - 7:16AM
PR Newswire (US)
PITTSBURGH, Oct. 31 /PRNewswire/ -- CNX Gas Corporation (NYSE:CXG)
announces the placing in-service of the Jewell Ridge Pipeline. The
32-mile pipeline is owned and operated by East Tennessee Natural
Gas, LLC (ETNG), a subsidiary of Duke Energy Gas Transmission. The
Jewell Ridge pipeline connects CNX Gas' Virginia Operations, via
the Cardinal States Gathering system, to the East Tennessee Natural
Gas interstate pipeline to the south. (Logo:
http://www.newscom.com/cgi-bin/prnh/20051213/CNXLOGO ) Roland
Campanelli, vice president of marketing, said, "In Virginia, CNX
Gas has proved reserves of 1,095 billion cubic feet (Bcf) and net
unproved reserves of 637 Bcf. Jewell Ridge provides an additional
transportation outlet for this valuable resource." CNX Gas has
entered into a 15-year transportation agreement with ETNG for firm
transportation of 197,500 dekatherms per day on the Jewell Ridge
Pipeline. In addition to providing CNX Gas with transportation
flexibility, the Jewell Ridge Pipeline provides access to growing
Southeastern and East Coast markets. With the initiation of service
on Jewell Ridge, CNX will begin a financial and strategic
assessment of its Cardinal States Gathering system with the goal of
maximizing shareholder value. CNX Gas will continue to provide
gathering services on Cardinal States to third parties on a
non-discriminatory basis, subject to available capacity.
Description CNX GAS CORPORATION is an independent natural gas
exploration, development, production and gathering company
operating in the Appalachian Basin of the United States. In May
2006, Business Week cited CNX Gas in its survey of Hot Growth
Companies. Effective June 30, 2006, CNX Gas was added to the
membership of companies included in the Russell 3000(R) Index and
the Russell Midcap(R) Index. Recently, CNX Gas was named as a
finalist by Platts for its "Hydrocarbon Producer of the Year"
award. Contact: Dan Zajdel Vice President - Investor and Public
Relations (412) 854-6719 http://www.cnxgas.com/
http://www.newscom.com/cgi-bin/prnh/20051213/CNXLOGO
http://photoarchive.ap.org/ DATASOURCE: CNX Gas Corporation
Contact: Dan Zajdel, Vice President - Investor and Public Relations
of CNX Gas Corporation, +1-412-854-6719, or Web site:
http://www.cnxgas.com/
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