CANONSBURG, Pa., April 14, 2020 /PRNewswire/ -- CONSOL Energy Inc.
(NYSE: CEIX) and CONSOL Coal Resources LP (NYSE: CCR) provided the
following operational update today:
Resuming operations at Bailey Mine
On March 30th, we
announced the temporary curtailment of production at the Bailey
Mine due to two employees testing positive for COVID-19. As of
April 13th, the workforce
at the Bailey Mine has returned to a normal production schedule.
Enhanced sanitization and social distancing measures, along with
staggered shifts at the mine will continue to ensure the health and
wellness of all personnel on site.
Over the past few weeks, we have taken several steps to ensure
the safety and well-being of our employees, their families and our
communities, while working to minimize disruptions to
operations.
Temporarily idling Enlow Fork Mine
Unfortunately, due to the weakness in coal demand and economic
slowdown related to the pandemic, production at the Enlow Fork Mine
will be temporarily idled at this time. We will assess and monitor
the ever-changing situation in the global marketplace and will
evaluate options continuously, as we navigate through the pandemic.
As always, we intend to run our operations safely and compliantly,
with our production based on market conditions and customer
inventories.
About CONSOL Energy Inc.
CONSOL Energy Inc. (NYSE: CEIX) is a Canonsburg,
Pennsylvania-based producer and
exporter of high-Btu bituminous thermal and crossover metallurgical
coal. It owns and operates some of the most productive longwall
mining operations in the Northern Appalachian Basin. Our flagship
operation is the Pennsylvania Mining Complex, which has the
capacity to produce approximately 28.5 million tons of coal per
year and is comprised of 3 large-scale underground mines:
Bailey, Enlow Fork, and Harvey. The company also owns and operates
the CONSOL Marine Terminal, which is located in the port
of Baltimore and has a throughput capacity of
approximately 15 million tons per year. In addition to the ~669
million reserve tons associated with the Pennsylvania Mining
Complex and the ~21 million reserve tons associated with the Itmann
project, the company also controls approximately 1.5 billion tons
of greenfield thermal and metallurgical coal reserves located in
the major coal-producing basins of the eastern United States.
Additional information regarding CONSOL Energy may be found
at www.consolenergy.com.
About CONSOL Coal Resources LP
CONSOL Coal Resources is a master limited partnership formed in
2015 to manage and further develop all of CONSOL Energy Inc.'s
(NYSE: CEIX) active coal operations in Pennsylvania. CCR's
assets include a 25% undivided interest in, and operational control
over, the Pennsylvania Mining Complex, which consists of three
underground mines - Bailey, Enlow Fork and Harvey - and related
infrastructure. For its ownership interest, CCR has an effective
annual production capacity of 7.1 million tons of high Btu North
Appalachian thermal coal. More information is available on our
website www.ccrlp.com.
Contacts:
Investor:
Mitesh Thakkar, (724) 416-8335
miteshthakkar@consolenergy.com
Media:
Zach Smith, (724) 416-8291
zacherysmith@consolenergy.com
Cautionary Statement Regarding Forward-Looking
Statements
Certain statements in this press release are
"forward-looking statements" within the meaning of the federal
securities laws. With the exception of historical matters, the
matters discussed in this press release are forward-looking
statements (as defined in Section 21E of the Securities Exchange
Act of 1934, as amended) that involve risks and uncertainties that
could cause actual results to differ materially from projected
results. Accordingly, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. The
forward-looking statements may include projections and estimates
concerning the timing and success of specific projects and our
future production, revenues, income and capital spending. When we
use the words "anticipate," "believe," "could," "continue,"
"estimate," "expect," "intend," "may," "plan," "predict,"
"project," "should," "will," or their negatives, or other similar
expressions, the statements which include those words are usually
forward-looking statements. When we describe strategy that involves
risks or uncertainties, we are making forward-looking statements.
We have based these forward-looking statements on our current
expectations and assumptions about future events. While our
management considers these expectations and assumptions to be
reasonable, they are inherently subject to significant business,
economic, competitive, regulatory and other risks, contingencies
and uncertainties, most of which are difficult to predict and many
of which are beyond our control. Specific risks, contingencies and
uncertainties are discussed in more detail in our filings with the
Securities and Exchange Commission. The forward-looking statements
in this press release speak only as of the date of this press
release and CEIX disclaims any intention or obligation to update
publicly any forward-looking statements, whether in response to new
information, future events, or otherwise, except as required by
applicable law.
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SOURCE CONSOL Energy Inc.; CONSOL Coal Resources LP