Consol’s fourth quarter profits less than in 2014
Sunday, January 31, 2016
During the fourth quarter of 2015, Consol Energy Inc. reported a decrease in profits compared to the same period in 2014.
Consol earned $30.4 million during the final three month period last year, Pittsburgh Tribune-Review reports. From October to December 2014, the company netted $73.7 million.
Consol cut total costs and expenses by about 30 percent during the fourth quarter. While low prices persist, the company is still bringing previously drilled wells online. The newspaper reports that drilling a previously drilled well and putting it into production costs less than drilling a new well and putting it into production.
Via: Pittsburgh Tribune-Review > Consol posts lower profit on tumbling gas, coal prices
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Depending on the company, royalty payments can arrive monthly or quarterly.
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