ADVFN - Advanced Financial Network.
HOME» NYSE » C » CNX Stock Price » CNX Stock News

Cons Energy Share News

 Consol Energy Stock Price
CNX Stock Price
 Consol Energy Stock Chart
CNX Stock Chart
 Consol Energy Stock News
CNX Stock News
 Consol Energy Company Information
CNX Company Information
 Consol Energy Stock Trades
CNX Stock Trades

Consolidated Energy Sells Some Non-Producing Assets to Cloud Peak for $170 Million

By Melodie Warner Consol Energy Inc. (CNX) agreed to sell its non-producing northern Powder River Basin assets for $170 million in cash to Cloud Peak Energy Inc. (CLD) as the coal and natural-gas producer continues to sell assets to fund its capital budget. The company's northern PRB assets, including Youngs Creek Mining Co. and CX Ranch, both of which are 50% owned by Chevron Corp. (CVX), and additional related properties are in and around Sheridan, Wyo. ConSuresol will retain an 8% production royalty interest on roughly 200 million tons of permitted fee coal. The company paid $3.47 billion for Dominion Resources Inc.'s (D) Appalachian exploration and production business in April 2010. Consol said that since that time, it has "been organically growing our coal and gas businesses in Appalachia while divesting properties that are more naturally suited to others." So far this year, Consol's asset sales have totaled $224 million. The company plans to put the cash towards its 2012 capital expenditure program, which includes both growth and maintenance projects. None of the assets sold in 2012 generated revenue for Consol. U.S. coal producers have battled stiff headwinds as natural gas prices dip to 10-year lows. But Consol Energy, which makes most of its income from coal, has seen strong profits in recent quarters, as its exports feed strong demand from steelmakers in emerging markets like China. Consol formed partnership with Hess Corp. (HES) to jointly developing its Utica Shale holdings in Ohio. But as natural gas prices continued to slide, the company said it was scaling back its development plans in the Marcellus Shale gas fields this year. Shares closed Friday at $30.24 and were inactive premarket. The stock is down 18% so far this year. Write to Melodie Warner at melodie.warner@dowjones.com

Stock News for Cons Energy (CNX)
DateTimeHeadline
04/08/201417:04:29MARKET SNAPSHOT: U.S. Stocks Edge Higher After 3-session Slide
04/08/201416:44:25MARKET SNAPSHOT: U.S. Stocks Post Modest Gains
04/08/201413:36:39MARKET SNAPSHOT: U.S. Stocks Waver As Ukraine Fears Hit Global...
01/31/201409:32:15U.S. Hot Stocks: Hot Stocks to Watch
12/10/201308:39:05Dominion to Lease Marcellus Rights to Consolidated in West Virginia
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of -2-
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of Sep 30
11/15/201307:34:04TPG-Axon Capital 3Q 13F: Largest Purchases
11/15/201307:34:04TPG-Axon Capital 3Q 13F: Holdings As Of Sep 30
11/15/201307:04:38Bridgewater Associates LP 3Q 13F: Largest Sales
11/15/201306:57:24Millennium Management 3Q 13F: Holdings As Of Sep -2-
11/15/201306:57:23Millennium Management 3Q 13F: Holdings As Of Sep 30
11/14/201307:21:26GAMCO Asset Management Inc. 3Q 13F: Largest Purchases
11/14/201307:21:26GAMCO Asset Management Inc. 3Q 13F: Largest -2-
11/14/201307:21:23GAMCO Asset Management Inc. 3Q 13F: Holdings As -2-
11/14/201307:21:23GAMCO Asset Management Inc. 3Q 13F: Holdings As Of Sep 30
10/14/201306:58:01U.S. Hot Stocks Futures: Hot Stocks to Watch
01/31/201307:59:56Consolidated Energy 4th-Quarter Net Down 23% on Lower Coal Production
01/25/201315:44:04WEEK AHEAD: Earnings Reporting to Continue with Tech, Energy
12/17/201209:10:03U.S. HOT STOCKS FUTURES: HOT STOCKS TO WATCH

Cons Energy and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad