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consol energy inc (CNX) Details

CONSOL Energy Inc. produces coal and natural gas for energy and raw material markets in the United States, Canada, and Western Europe. It operates in Coal and Gas divisions. The Coal division engages in the mining, preparation, and marketing of thermal coal primarily to power generators; and metallurgical coal to metal and coke producers. It offers thermal, high and low volatile metallurgical, and other coals. The Gas division produces and sells pipeline quality natural gas to gas wholesalers. This division explores for unconventional gas, including coalbed methane, Marcellus, Utica, Chattanooga, Huron, and New Albany shales. As of December 31, 2012, the company had approximately 4.2 billion tons of proved and probable coal reserves; and approximately 15,000 gross natural gas wells primarily in Appalachia. It also provides midstream gas services, including designing, building, and operating natural gas gathering systems for moving gas from the wellhead to interstate pipelines or other local sales points; land services; and industrial supply services comprising the distribution of mining, drilling, and industrial supplies, as well as integrated supply procurement and management services. In addition, the company offers terminal services that include storing coal or loading coal directly into vessels from rail cars; river and dock services that transport coal from river loadout facilities through towboats, harbor boats, and barges; and water services that provide water for industrial use, as well as operates electric vehicle charging stations. CONSOL Energy Inc. was founded in 1991 and is headquartered in Canonsburg, Pennsylvania.

4,633 Employees
Last Reported Date: 02/7/14
Founded in 1864

consol energy inc (CNX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.1M
Executive Chairman
Total Annual Compensation: $1.0M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $712.3K
Chief Legal & Corporate Affairs Officer and E...
Total Annual Compensation: $718.3K
Chief Commercial Officer and Executive Vice P...
Total Annual Compensation: $545.9K
Compensation as of Fiscal Year 2013.

consol energy inc (CNX) Key Developments

CONSOL Energy Inc. Reports Operating Results for the Second Quarter Ended June 30, 2014; Provides Production Guidance for the Third Quarter 2014; Revises Production Guidance for the Year 2014; Reaffirms Production Guidance for the Years 2015 and 2016

CONSOL Energy Inc. reported operating results for the second quarter ended June 30, 2014. CONSOL's much anticipated 3-well NBL19 pad in northern Noble County, OH, had initial production rates exceeding 23 MMcfe per day, per lateral, with controlled pressure drawdown. The three wells were turned into production last week and are located adjacent to CONSOL's NBL16 pad, which contains two wells: the NBL16A and NBL16B. The NBL16A had a lateral length of approximately 4,900 feet and tested at 12.0 MMcf per day plus 768 barrels oil per day. The NBL 16B had a lateral length of approximately 3,400 feet and is currently undergoing completion activity. Both NBL16 wells are expected to be turned into production in August, 2014. Adjacent to the NBL16 pad is the 5-well NBL18 pad with average lateral lengths of approximately 5,400 feet. The five wells at NBL18 are currently undergoing fracture stimulation and are expected to be turned into production in October, 2014. Also, in the immediate vicinity is the 3-well NBL30 pad with average lateral lengths of approximately 4,800 feet. The NBL30 pad is currently undergoing completion activity and is expected to be turned into production in September, 2014. CONSOL's E&P division produced 51.9 Bcfe for the 2014 second quarter, or 34% more than the 38.6 Bcfe produced in the 2013 second quarter. Gas production was in-line with previous second quarter guidance of 50.0 -- 52.0 Bcfe, net to CONSOL. The 2014 second quarter net production included 542 MMcf per day of natural gas, 1,209 barrels per day of oil/condensates, and 3,514 barrels per day of NGLs. CONSOL's coal division produced 8.3 million tons for the 2014 second quarter, including 1.0 million tons of low-vol coking coal from the company's Buchanan Mine. These results are in-line with previous second quarter guidance of 8.1 -- 8.5 million tons, which included low-vol tons of 0.85 -- 0.95 million tons. Geological issues at Enlow Fork Mine and equipment issues at Harvey Mine, partially offset by outperformance at Bailey Mine, impacted costs. Of the 7.0 million tons of thermal coal produced in the quarter, 6.5 million tons were from Northern Appalachia and 0.5 million tons were from Central Appalachia. As of June 30, 2014, CONSOL's total coal inventory decreased by 234,000 tons to 407,000 tons. Thermal coal inventory decreased by 242,000 tons to 209,000 tons, while low-vol coal inventory increase by 8,000 tons, to 198,000 tons. CONSOL Energy expects E&P division third quarter 2014 gas production, net to CONSOL, to be between 59.0 -- 61.0 Bcfe, which, using the midpoint of the range, would be a 30% increase as compared with the 46.1 Bcfe produced in the third quarter of 2013. CONSOL expects the Marcellus and Utica Shale programs to be back-end weighted with approximately 70% of the combined wells turned in line during the second half of the year. CONSOL Energy expects coal division third quarter 2014 coal production to be between 7.3 -- 7.7 million tons. The decline from the second quarter production is due to normal miner vacation schedules. Annual 2014 total gas production of E&P division is now estimated to be 225 -- 235 Bcfe, where the low end of the range has been increased by 10 Bcfe over the earlier guidance. The 2014 production guidance assumes liquids content between 5% -- 8% of the total. Annual 2014 total coal production guidance remains 31.0 -- 33.0 million tons. Buchanan Mine's third quarter production is expected to be between 0.75 -- 0.85 million tons, while annual low-vol production is now estimated at 3.4 -- 3.8 million tons, which is a decrease from previous 2014 guidance of 3.6 -- 4.2 million tons. The decrease in Buchanan's annual guidance is a result of continued market weakness. Production guidance of E&P division for 2015 and 2016 remains unchanged at annual growth rates of 30%, with liquids content increasing to 10% -- 15% of total production in 2016.

CONSOL Energy Inc. to Report Q2, 2014 Results on Jul 29, 2014

CONSOL Energy Inc. announced that they will report Q2, 2014 results at 6:45 AM, US Eastern Standard Time on Jul 29, 2014

CONSOL Energy Inc., Q2 2014 Earnings Call, Jul 29, 2014

CONSOL Energy Inc., Q2 2014 Earnings Call, Jul 29, 2014


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