Supplemental Gas Data (unaudited):

The following information was prepared in accordance with the FASB's Accounting Standards Update No. 2010-03, “Extractive Activities-Oil and Gas (Topic 932).”

Capitalized Costs:



	As of December 31,
	2014			2013
Proven properties	$	1,768,007		$	1,670,404
Unproven properties	1,540,835			1,463,406
Intangible drilling costs	2,798,394			1,937,336
Wells and related equipment	716,748			688,548
Gathering assets	1,088,238			1,058,008
Gas well plugging	111,227			113,481
Total Property, Plant and Equipment	8,023,449			6,931,183
Accumulated Depreciation, Depletion and Amortization	(1,515,983		)	(1,187,409		)
Net Capitalized Costs	$	6,507,466		$	5,743,774

Costs incurred for property acquisition, exploration and development (*):



	For the Years Ended December 31,
	2014		2013		2012
Property acquisitions
Proven properties	$	—	$	—	$	50,005
Unproven properties	119,597		260,477		28,634
Development	952,733		629,100		339,608
Exploration	45,006		95,413		130,312
Total	$	1,117,336	$	984,990	$	548,559

__________


(*)	Includes costs incurred whether capitalized or expensed.

Results of Operations for Producing Activities:



	For the Years Ended December 31,
	2014		2013		2012
Production Revenue	$	1,030,574	$	740,869	$	660,442
Royalty Interest Gas Revenue	82,428		63,202		49,405
Purchased Gas Revenue	8,999		6,531		3,316
Total Revenue	1,122,001		810,602		713,163
Lifting Costs	118,391		96,601		90,837
Ad Valorem, Severance & Other Taxes	39,418		28,676		26,145
Gathering Costs	258,110		201,024		160,579
Royalty Interest Gas Costs	69,946		53,069		38,922
Direct Administrative, Selling & Other Costs	55,092		49,092		47,565
Other Costs	22,719		61,107		39,029
Purchased Gas Costs	7,251		4,837		2,711
DD&A	314,381		231,809		205,149
Total Costs	885,308		726,215		610,937
Pre-tax Operating Income	236,693		84,387		102,226
Income Taxes	82,894		32,067		38,989
Results of Operations for Producing Activities excluding Corporate and Interest Costs	$	153,799	$	52,320	$	63,237

The following is production, average sales price and average production costs, excluding ad valorem and severance taxes, per unit of production:



	For the Years Ended December 31,
	2014		2013		2012
Production (MMcfe)	235,714		172,380		156,325
Average gas sales price before effects of financial settlements (per Mcf)	$	4.26	$	3.85	$	3.00
Average effects of financial settlements (per Mcf)	$	0.11	$	0.45	$	1.22
Average gas sales price including effects of financial settlements (per Mcf)	$	4.37	$	4.30	$	4.22
Average lifting costs, excluding ad valorem and severance taxes (per Mcf)	$	0.50	$	0.56	$	0.58

During the years ended December 31, 2014, 2013 and 2012, we drilled 180.3, 139.8, and 95.5 net development wells, respectively. There were no net dry development wells in 2014, 2013, or 2012.

During the years ended December 31, 2014, 2013 and 2012, we drilled 8.5, 5.5, and 22.0 net exploratory wells, respectively. There were no net dry exploratory wells in 2014 or 2013, and 9.5 net dry exploratory wells in 2012.

At December 31, 2014, there were 52.0 net development wells and 2.5 net exploratory wells in the process of being drilled.

We are committed to provide 153.5 Bcf of gas under existing sales contracts or agreements over the course of the next four years. We expect to produce sufficient quantities from existing proved developed reserves to satisfy these commitments.

Most of our development wells and proved acreage are located in Virginia, West Virginia and Pennsylvania. Some leases are beyond their primary term, but these leases are extended in accordance with their terms as long as certain drilling commitments or other term commitments are satisfied. The following table sets forth, at December 31, 2014, the number of producing wells, developed acreage and undeveloped acreage:



	Gross	Net(1)
Producing Gas Wells (including gob wells)	17,044	12,918
Producing Oil Wells	154	34
Proved Developed Acreage	537,935	515,439
Proved Undeveloped Acreage	112,617	63,801
Unproved Acreage	4,946,174	3,933,975
Total Acreage	5,596,726	4,513,215

____________


(1)	Net acres include acreage attributable to our working interests of the properties. Additional adjustments (either increases or decreases) may be required as we further develop title to and further confirm our rights with respect to our various properties in anticipation of development. We believe that our assumptions and methodology in this regard are reasonable.

Proved Oil and Gas Reserves Quantities:

Annually, the preparation of gas reserves estimates are completed in accordance with CONSOL Energy's prescribed internal control procedures, which include verification of input data into a gas reserves forecasting and economic evaluation software, as well as multi-functional management review. The input data verification includes reviews of the price and cost assumptions used in the economic model to determine the reserves. Also, the production volumes are reconciled between the system used to calculate the reserves and other accounting/measurement systems. The technical employee responsible for overseeing the preparation of the reserve estimates is a petroleum engineer with over 10 years of experience in the oil and gas industry. Our 2014 gas reserves results, which are reported in the Supplemental Gas Data year ended December 31, 2014 Form 10-K, were audited by Netherland Sewell. The technical person primarily responsible for overseeing the audit of our reserves is a registered professional engineer in the state of Texas with over 15 years of experience in the oil and gas industry. The gas reserves estimates are as follows:



					Condensate		Consolidated
	Natural Gas		NGLs		& Crude Oil		Operations
	(MMcfe)		(Mbbls)		(Mbbls)		(MMcfe)
Balance December 31, 2011 (c)	3,470,551		25		1,555		3,480,027
Revisions (a)	243,442		469		(710	)	241,989
Price Changes	(526,608	)	—		(1	)	(526,611	)
Extensions and Discoveries (b)	873,104		12,992		553		954,378
Production	(155,052	)	(111	)	(100	)	(156,325	)
Balance December 31, 2012 (c)	3,905,437		13,375		1,297		3,993,458
Revisions (a)	176,045		(1,017	)	336		171,953
Price Changes	104,728		4		1		104,757
Extensions and Discoveries (b)	1,567,634		9,623		1,343		1,633,426
Production	(168,737	)	(438	)	(170	)	(172,380	)
Balance December 31, 2013 (c)	5,585,107		21,547		2,807		5,731,214
Revisions (d)	(46,560	)	40,363		3,756		218,168
Price Changes	15,512		—		—		15,512
Extensions and Discoveries (e)	979,801		18,459		1,314		1,098,436
Production	(216,260	)	(2,578	)	(664	)	(235,714	)
Balance December 31, 2014 (c)	6,317,600		77,791		7,213		6,827,616

Proved developed reserves:
December 31, 2012	2,149,912		1,717		878		2,165,483
December 31, 2013	2,470,412		5,939		1,375		2,514,294
December 31, 2014	2,979,906		32,406		4,062		3,198,706

Proved undeveloped reserves:
December 31, 2012	1,755,525		12,075		—		1,827,975
December 31, 2013	3,114,695		15,607		1,431		3,216,920
December 31, 2014	3,337,694		45,385		3,151		3,628,910

__________


(a)	Revisions are primarily due to corporate planning changes that affect the number of wells (5-Years) forecasted to be drilled in our various areas and reservoirs. These changes along with upward revisions attributable to efficiencies in operations and well performance had the total affect of the positive revisions for 2013 and 2012.


(b)	Extensions and Discoveries in 2013 and 2012 are primarily due to the addition of wells on our Marcellus Shale acreage more than one offset location away with reliable technology.

(c)

Proved developed and proved undeveloped gas reserves are defined by SEC Rule 4.10(a) of Regulation S-X. Generally, these reserves would be commercially recovered under current economic conditions, operating methods and government regulations. CONSOL Energy cautions that there are many inherent uncertainties in estimating proved reserve quantities, projecting future production rates and timing of development expenditures. Proved oil and gas reserves are estimated quantities of natural gas which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions and government regulations. Proved developed reserves are those reserves expected to be recovered through existing wells, with existing equipment and operating methods.


(d)	Revisions for 2014 are primarily due to efficiencies in operations and well optimization and had the total effect of positive revisions. Additionally, the 2014 revisions include a reclassification of ethane volumes from natural gas to NGLs.


(e)	Extensions and Discoveries in 2014 are primarily due to the addition of wells on our Marcellus and Utica Shale acreage. We also included Marcellus Shale wells which are more than one offset location away due to continued use of reliable technology.



	For the Year
	Ended
	December 31,
	2014
Proved Undeveloped Reserves (MMcfe)
Beginning proved undeveloped reserves	3,216,920
Undeveloped reserves transferred to developed(a)	(526,839	)
Price Changes	(1,293	)
Plan and other revisions (b)	(9,034	)
Extension and discoveries	949,156
Ending proved undeveloped reserves(c)(d)	3,628,910

_________


(a)	During 2014, various exploration and development drilling and evaluations were completed. Approximately, $389,838 of capital was spent in the year ended December 31, 2014 related to undeveloped reserves that were transferred to developed.

(b) Plan and other revisions are due to corporate planning changes that affect the number of wells forecasted to be drilled in our various areas and reservoirs. These changes along with upward revisions attributable to efficiencies in operations and well performance had the total affect of a positive revision.

(c)

Included in proved undeveloped reserves at December 31, 2014 are approximately 212,161 MMcfe of reserves that have been reported for more than five years. These reserves specifically relate to CONSOL Energy's Buchanan Mine, more specifically, to GOB (a rubble zone formed in the cavity created by the extraction of coal) production due to a complex fracture being generated in the overburden strata above the mined seam. Mining operations take a significant amount of time and our GOB forecasts are consistent with the future plans of the Buchanan Mine. Evidence also exists that supports the continual operation of the mine beyond the current plan, unless there was an extreme circumstance which resulted from an external factor. These reasons constitute that specific circumstances exist to continue recognizing these reserves for CONSOL Energy.

(d)

Included in proved undeveloped reserves at December 31, 2014 are 229 gross proved undeveloped locations that generate positive future net revenue but have negative present worth discounted at 10 percent as of December 31, 2014, representing 12.1% of our total proved undeveloped reserves. Additionally, the 438.8 Bcfe of natural gas and equivalents attributable to these locations represent approximately 6.4% of our total proved reserves. The Company includes these well sites in its current drilling plans and currently intends to drill these sites as our economic modeling of these well locations generate positive future cash flows.

The following table represents the capitalized exploratory well cost activity as indicated:



	December 31,
	2014
Costs pending the determination of proved reserves at December 31, 2014
For a period one year or less	$	22,851
For a period greater than one year but less than five years	—
For a period greater than five years	—
Total	$	22,851



	December 31,
	2014		2013		2012
Costs reclassified to wells, equipment and facilities based on the determination of proved reserves	$	27,453	$	12,140	$	14,447
Costs expensed due to determination of dry hole or abandonment of project	$	2,041	$	8,596	$	3,320

CONSOL Energy's proved gas reserves are located in the United States.