The new coal company, which will drop the Consol name, may go public as early as October of this year. Assets will include the Pennsylvania Mining Complex, a coal export terminal in Baltimore, undeveloped coal reserves in Appalachia and the Illinois Basin, and an ownership interest in CNX Coal Resources LP, Cocklin notes. Consol CEO Nicholas Deluliis will continue as head of the new gas-only firm; Jimmy Brock, who leads Consol's coal division, will be CEO of the new company.
|Consol coal profits have sunk while natural-gas profits have risen. (Shale Daily chart)|