Consol Energy Mulls Options For Coal And E&P Business Separation - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, Consol Energy Inc. (CNX) said it is pursuing several different approaches for achieving the separation of its coal and E&P business as early as 2017.

These include the possible sale of the coal business to a third party or the spin-off of the coal business to Consol's shareholders.

David Khani, Chief Financial Officer,said, "We think there may be a market opportunity to achieve a sale of the coal business on favorable terms or, alternatively, to effect a spin-off as our leverage ratio comes down to a level that allows each business to stand on its own. At the same time, we will continue to evaluate dropdowns of additional undivided interests in the Pennsylvania Mining Complex."