Consol Sells Marcellus Holdings

Scott Detrow

Recent Stories

Scott Detrow is a congressional correspondent for NPR. He also co-hosts the NPR Politics Podcast.

Detrow joined NPR in 2015 to cover the presidential election. He focused on the Republican side of the 2016 race, spending time on the campaign trail with Donald Trump, and also reported on the election's technology and data angles.

Detrow worked as a statehouse reporter for member stations WITF in Harrisburg, Pennsylvania, and KQED in San Francisco, California. He has also covered energy policy for NPR's StateImpact project, where his reports on Pennsylvania's hydraulic fracturing boom won a DuPont-Columbia and national Edward R. Murrow Award in 2013.

September 26, 2011 | 4:11 PM

A major energy player here in Pennsylvania, Consol, is getting out of the Marcellus Shale game, according to the Associated Press:

Consol Energy Inc. says it has sold a $193 million stake in its Marcellus Shale holdings in southwestern Pennsylvania and West Virginia.
Consol, based in Canonsburg, announced the deal with Antero Resources Appalachian Corp. of Denver on Monday. Antero will receive royalty interests of approximately 7% in 115,647 acres located in nine counties.
Consol says the cash transaction has an effective date of July 1, 2011.
Consol will retain existing shallow wells and all other leasehold interests on the acreage, including geological formations generally above and below the Marcellus Shale.

The article doesn’t provide a motivation for the sale, or explain whether it’s part of a strategic shift for Consol, who made waves earlier this year by footing the bill for several lawmakers’ trips to the Super Bowl. (Consol also, of course, owns the naming rights for the Pittsburgh Penguins’ home arena.)