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Exports keeping coal industry alive despite surge in natural gas

The surge in U.S. oil and natural gas production and increasing efforts to regulate emissions from coal-fired power plants has caused business leaders and analysts to question king coal’s rank in the energy economy. Last month, the Energy Information Administration forecasted that natural gas will surpass coal as the number one source of electricity generation [...]

Consol Energy sells coal assets, looks to boost natural gas production

Consol Energy has been mining coal since the American Civil War, but today the Cecil-based company has announced it is selling the subsidiary that started it all. Murray Energy Corp. will pay $850 million in cash for the Consolidation Coal Company, including five mines in West Virginia. The Ohio-based mining company will also buy up [...]

Consol Energy Shuts Reporters Out of Annual Shareholder Meeting

The Pittsburgh Post-Gazette reports Consol Energy shut reporters out of its annual shareholders meeting Wednesday. According to the Post-Gazette, this is the second year in a row the company has kept its doors closed to the media: The practice is not illegal, but “it’s not appropriate,” said Lev Janashvili, managing director at GMI Ratings, a [...]

EQT And Consol Bid To Drill At Pittsburgh-Area Airports

Two companies – EQT and Consol – have submitted bids to drill for natural gas at Pittsburgh International Airport and Allegheny County Airport. Allegheny County owns the land at both facilities, and County Executive Rich Fitzgerald sees the drilling revenue as a way to alleviate airline expenses at the underused Pittsburgh International Airport. “Will that bring every airline [...]

Blaming Weak Market, Consol Scales Back Production At West Virginia Coal Mine

A weak market for coal is forcing Pennsylvania-based Consol to decrease production in a West Virginia mine, as the AP reports: MORGANTOWN, W.Va. — Consol Energy is scaling back operations at a northern West Virginia coal mine because of low market demand.Pennsylvania-based Consol said Tuesday that it will idle some of the Blacksville No. 2 [...]

Consol Energy Doubles Down On Romney

Former Massachusetts Governor Mitt Romney has a friend in Consol Energy. The Pittsburgh-based natural gas and coal extractor contributed $150,000 to a Romney-affiliated Super PAC in July. Consol executives also gave $22,000 to the Republican front-runner’s campaign during the most recent Federal Elections Commission filing period, which covered October, November and December 2011. Not a [...]

WSJ: Why Obama’s Call For Expanded Gas Drilling Won’t Be Answered

The Wall Street Journal is providing a reality check to President Obama’s call for expanded natural gas drilling. The paper’s take: that simply isn’t going to happen as long as natural gas prices stay at their current low levels. (Here in Pennsylvania, we’ve already seen Chesapeake and Consol scale back their Marcellus Shale drilling operations.) [...]

Consol Energy Scales Back Its Drilling Plans

Yet another drilling company is scaling back its drilling output, due to low natural gas prices. Earlier this week, Chesapeake trimmed its dry gas operations by a third. This time, it’s Consol. More from the Post-Gazette: Lucrative joint ventures in its gas division and strong overseas sales in its coal division helped Consol Energy post [...]

Consol Sells Marcellus Holdings

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. [...]

Consol Makes Big Bucks Off Marcellus Sale

Consol Energy took in more than $3 billion, by selling half of its Pennsylvania Marcellus Shale holdings. (A Shale sale, if you will.) More from the Post-Gazette: Consol Energy has sold half of its 663,350 Marcellus Shale acres in Pennsylvania and West Virginia to Noble Energy Inc. for $3.4 billion, a move that gives the [...]

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