Burkett Shale and two wells in the Rhinestreet Shale. Its Marcellus Shale joint venture partner owns a 50% interest in the Burkett Shale formation within the joint venture area of mutual interest. The company controls a 100% interest in the Rhinestreet Shale formation that was acquired prior to the joint venture, with exception to the two drilled wells Noble Energy opted into in 2014. Chattanooga: The Chattanooga Shale in Tennessee is a Devonian-age shale found at a depth of approximately 3,500 feet. The shale thickness is between 40-80 feet. The company has 218,000 net acres of Chattanooga Shale. The company is the operator of all of its horizontal Chattanooga Shale wells. Huron: The company has 386,000 net acres of Huron Shale potential in Kentucky, West Virginia, and Virginia. Midstream Gas Services: The company has designed, built, and operated natural gas gathering systems to move gas from the wellhead to interstate pipelines or other local sales points. The company owns or operates approximately 5,000 miles of gas gathering pipelines, as well as 250,000 horsepower of compression. The company owns 50% of CONE Gathering, LLC (CONE Gathering) along with Noble Energy owning the other 50% interest. CONE Gathering develops, operates, and owns all of both Noble Energy's and the company’s Marcellus Shale gathering system needs. In the Utica Shale, the company and its joint venture partner, Hess, are primarily contracting with third parties for gathering services. Coal Operations Coal Reserves: As of December 31, 2014, the company had an estimated 3.2 billion tons of proven and probable reserves, excluding equity affiliates. Coal Marketing and Sales: The company sells coal produced by its mining complexes and additional coal that is purchased by the company for resale from other producers. It maintains the United States sales offices in Charlotte, Philadelphia, and Pittsburgh. In addition, the company sells coal through agents and to brokers and unaffiliated trading companies. Other Operations The company provides other services both to its own operations and to others. These include land services, coal terminal services, and water services. Non-Core Mineral Assets and Surface Properties: The company owns gas and coal assets that are not in its short or medium term development plans. Terminal Services: In 2014, approximately 9.6 million tons of coal were shipped through the company’s subsidiary, CNX Marine Terminals Inc.'s, exporting terminal in the port of Baltimore. The terminal could either store coal or load coal directly into vessels from rail cars. Water Services: CNX Water Assets LLC (CNX Water Assets), the company’s subsidiary, is acquiring and developing existing sources of water to support its gas and coal operations, develop business in water sales, promote water technologies, treat both acid mine drainage water and fracturing water, and reduce the company’s environmental liabilities. CNX Water Assets' operate an advanced waste water treatment plant in support of coal operations, as well as fresh water reservoirs. CNX Water Assets' also has contracts to provide water to third parties for industrial use from various water sources owned by the company. Strategy The company’s strategy is to increase shareholder value through growth of its existing gas assets, selective acquisition of gas and liquids acreage leases within its footprint, and through participation in the forecasted global growth of thermal and metallurgical coal markets. Laws and Regulations The company’s active mining complexes are located in states, which have achieved primary jurisdiction for enforcement of the federal Surface Mining Control and Reclamation Act through approved state programs. Regulations and orders set forth by the Federal Energy Regulatory Commission impact the company’s gas business to a certain degree. The company’s gas operations are subject to regulation under the federal Occupational Safety and Health Act, and comparable state laws in some states, all of which regulate health and safety of employees at its gas operations. History CONSOL Energy Inc. was founded in 1991.
consol energy inc
(CNX:New York Consolidated)
1000 Consol Energy Drive
Canonsburg, PA 15317
|Cameco Corp||C$20.87 CAD||0.00|
|EnLink Midstream Partners LP||$25.64 USD||-0.09|
|QEP Resources Inc||$22.49 USD||-0.01|
|Southwestern Energy Co||$28.78 USD||+0.75|
|Teck Resources Ltd||C$18.92 CAD||0.00|
|View Industry Companies|
Sponsored Financial Commentaries
To contact CONSOL ENERGY INC, please visit www.consolenergy.com. Company data is provided by Capital IQ. Please use this form to report any data issues.