Consol plans to split natural gas, coal operations
Friday, July 14, 2017
Consol Energy Inc. has set forth plans for splitting the company, which includes separation of its natural gas business in the Utica shale play, according to the Pittsburgh Business Times.
According to details from a Consol filing with the U.S. Securities and Exchange Commission, a yet-to-be-named company would hold the natural gas business. A spinoff company would own Consol’s three coal mines in Greene and Washington counties in Pennsylvania, its ownership interest in CNX Coal Resources LP and its remaining coal-related assets.
The transition could take place before the end of the year with executive shifting between companies.
Learn more: Pittsburgh Business Times > Consol files plans to spin off coal operations — and rename gas company
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What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
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Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.