CNX Gas Corp. has earmarked $400 million for shale programs and coalbed methane programs in 2010.

The company has set aside $160 million of the budget for the Marcellus Shale. CNX Gas will be signing a contract for a second horizontal rig, a flex rig designed for efficiency when drilling multiple wells from the same pad, to drill in the Marcellus Shale effective March 1, 2010.

J. Brett Harvey, chairman and CEO of CNX Gas Corp. expects the funding to provide “meaningful production growth in the gas business.”

"We had excellent results from our 2009 Marcellus Shale program, and it makes sense for us to add another rig, especially as gas prices have strengthened recently. Our goal remains to accelerate the monetization of our highly promising acreage. We also have world-class assets in coalbed methane. We will continue to develop these in a measured way," he continued.