PITTSBURGH, April 1, 2016 /PRNewswire/ -- CONSOL Energy Inc.
(NYSE: CNX) announced today that it has closed on its previously
announced agreement to sell the Buchanan Mine in southwestern
Virginia and certain other
metallurgical coal reserves to Coronado IV LLC for total
consideration to CONSOL of $420
million in value, including $402.8
million cash paid at the closing.
About CONSOL Energy
CONSOL Energy Inc. (NYSE: CNX) is a Pittsburgh-based producer of natural gas and
coal. The company is one of the largest independent natural gas
exploration, development and production companies, with operations
centered in the major shale formations of the Appalachian basin.
CONSOL Energy deploys an organic growth strategy focused on rapidly
developing its resource base. As of December
31, 2015, CONSOL Energy had 5.6 trillion cubic feet
equivalent of proved natural gas reserves. The company's premium
coals are sold to electricity generators and steel makers, both
domestically and internationally. CONSOL Energy is a member
of the Standard & Poor's Midcap 400 Index. Additional
information may be found at www.consolenergy.com.
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SOURCE CONSOL Energy Inc.