Consol drops coal to focus on natural gas
Friday, February 10, 2017
Consol Energy has decided to unload its 150-year-old coal mining business to become a full-time oil and natural gas company, according to the Pittsburgh Post-Gazette.
After releasing its fourth-quarter report, which showed increasing losses, Consol announced its plans to drop coal. It expects to see growth as it transitions and natural gas prices rise.
With oil and gas drilling operations in the Marcellus and Utica shale plays, Consol believes it could be completely converted sometime this year.
Learn more: Pittsburgh Post-Gazette > Consol Energy plans to sell or spin out coal business
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