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Consol Energy files to spin off Pennsylvania mining operations

Published 07/11/2017, 08:22 AM
Updated 07/11/2017, 08:22 AM
© Reuters.  Consol Energy files to spin off Pennsylvania mining operations
  • Consol Energy (NYSE:CNX) is moving ahead with its plan to separate into two publicly-traded companies, a coal company and and natural gas exploration and production company, as it files a registration statement with the SEC.
  • CNX says the CONSOL Mining spinoff will include its Pennsylvania mining operations, the company's ownership interest in the CNX Coal Resources (NYSE:CNXC) MLP which owns a 25% undivided interest in the Pennsylvania Mining Complex, the coal export terminal at the Port of Baltimore, plus undeveloped coal reserves and other coal assets.
  • Jimmy Brock will become the CEO of the coal business and David Khani will be the CFO, while Nick DeIuliis will be CEO of the E&P business and Don Rush will be CFO.
  • Now read: CONE Midstream: Simply Trading Too Cheap Based On Sponsor Fears


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