Consol Energy may sell coal business, focus on natural gas production

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Norfolk Southern train No. N26 heads through Time, Pa., after leaving the Bailey Mine on the Manor Branch in March 2014.
Chase Gunnoe
CANONSBURG, Pa. – Consol Energy, Inc., the operator of several coal mines in southwestern Pennsylvania, says it may part ways with its coal business as early as this year to focus more on natural gas initiatives.

During the company’s fourth quarter earnings, Consol Chief Financial Officer David Khani said there might be an opportunity to sell its coal business or spin it off as a separate entity from Consol.

The company reported a more than $320 million loss during the fourth quarter, attributed largely to declines in coal.

Consol operates the Bailey, Enlow Fork, and Harvey mines and is the largest shipper on the former Monongahela Railway in southwestern Pennsylvania. The Bailey mine has an annual production capacity of more than 11 million tons of coal. It is considered the highest capacity train loadout facility in the East and can handle multiple unit trains at one time.

CSX Transportation, Norfolk Southern, and Buffalo & Pittsburgh serve the Bailey Mine using former Monongahela tracks.

NEWSWIRETrains News Wire

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