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Consol investor suggests changes to natural gas holdings during market slump

Sunday, July 26, 2015 by

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Pittsburgh Tribune-Review reports that Southeastern Asset Management, the largest shareholder for Consol Energy, Inc., is encouraging the company to raise money from its natural gas holdings. Southeastern recently raised its shares in Consol to 21 percent.

Southeastern believes that Consol’s gas assets in Pennsylvania and other states are worth more than the company’s entire equity capitalization. Consol owns gas rights to acreage that could be sold or leased to other companies to bring in more money. Also, Southeastern’s founder suggested dividing Consol’s gas assets from its coal assets.

Consol recently announced that it expects to post losses for the second quarter at the end of July.

Via: Pittsburgh Tribune-Review > Investor pushing changes at Consol Energy

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