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Tag Archives: CONSOL Energy Inc.

Cost-cutting helps Consol Energy turn profit

Continued cost-cutting at Consol Energy Inc. and the sale of its share in a smaller mine helped the Cecil company turn a profit during the third quarter despite falling prices for the coal and natural gas it produces. Consol early Tuesday reported net income of $119 million or 52 cents per share during the three months ended Sept. 30, up ...

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Consol misses 3Q profit forecasts

CANONSBURG, Pa. — Consol Energy Inc. (CNX) on Tuesday reported third-quarter net income of $119 million, after reporting a loss in the same period a year earlier. The Canonsburg, Pennsylvania-based company said it had profit of 52 cents per share. Losses, adjusted for non-recurring gains, came to 28 cents per share. The results missed Wall Street expectations. The average estimate ...

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Analyst: Rex is down, but not out

How do you know when a company is on its deathbed? Could it be when its stock prices take an 80 percent hit in the course of a year? According to the Pittsburgh Business Times, this isn’t the case for Marcellus-centric natural gas driller Rex Energy. Despite the company’s share prices dropping from $21 per share in May 2014 to ...

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Rice Energy widens loss

Rice Energy Inc. recorded a loss of $69.7 million, or 51 cents per share, for the second quarter. During the same time last year, the Canonsburg-based oil and gas company posted a loss of $7.9 million, or 6 cents per share. Rice drills for oil and gas in the Marcellus Shale in southwestern Pennsylvania and in the Utica Shale in ...

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Consol’s IPO is on round 2 of revisions

Apparently one revision isn’t enough for Consol Energy Inc.’s initial public offering (IPO) for units of its coal mine master limited partnership as the company has revised it for the second time. In a filing made with the SEC, CNX Coal Resources, Consol’s master limited partnership, is now offering 5 million units to sell at the same price from its ...

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Southwestern Penn. loses 20 jobs

Noble Energy

Noble Energy Inc. has announced that it will be cutting some of its workforce from its southwestern Pennsylvania operations. According to the Pittsburgh Business Times, as an effort to reduce its workforce, Noble Energy is cutting a total of 220 jobs due to low energy prices.  The cuts equal 8 percent of the company’s total number of employees based on ...

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Shell certified as environmentally conscious driller

shell

A partnership between environmentalists and shale gas producers awarded its second certification to an energy company for meeting the group’s voluntary standards for environmentally conscious drilling in Appalachia, signaling progress in an effort some critics complained was slow to develop. Royal Dutch Shell and the Center for Sustainable Shale Development planned to announce Wednesday that the company met the partnership’s ...

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Consol cuts budget, again

Consol Energy Inc. is cutting its Marcellus Shale budget by another couple million dollars, equal to about 8 percent. The company is now expecting to spend $920 million on capital spending for this year, which is $8 million less than what they announced back in January.  Consol’s new budget plan consists of drilling and completing natural gas wells, as well ...

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Consol Energy posts $74M profit in fourth quarter

Consol Energy Inc. plans to trim capital spending on natural gas development but avoid the more drastic cuts other shale companies are announcing as it continues to ramp up production. The Cecil-based gas and coal company on Friday said it will spend about $1 billion on development in the Marcellus and Utica shales, a drop of 23 percent from the ...

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