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CONSOL Energy, Inc.
Type Public (NYSE: CNX)
Founded Cumberland, Maryland (1864)
Headquarters Cecil Township, Pennsylvania
Key people J. Brett Harvey, Chairman and CEO
Industry Energy
Products Coal Mining
Natural Gas
Timber
Electric power
Transportation
Revenue $3.81 billion USD
Employees 7300
Website www.consolenergy.com

CONSOL Energy Inc. is the largest producer of high-BTU bituminous coal in the United States. It is one of the US's largest coal mining companies, along with Peabody Energy and Arch Coal. The company has some 4.5 billion tons of proved reserves, mainly in northern and central Appalachia and the Illinois Basin, and produces about 65 million tons of coal annually.[1]

It began operations in 1864 in the city of Cumberland, Maryland and is now based in suburban Pittsburgh in the Southpointe business park in Cecil Township near Canonsburg, Pennsylvania.

Contents

Political involvement

CONSOL Energy provided the National Rifle Association access to its Blacksville No. 2 coal mine in West Virginia to film a television advertisement with an anti-Barack Obama message.[2] The National Rifle Association intended to ask miners the question "How do you feel about having your Second Amendment rights taken away if Obama becomes president."[3] Word spread among pro-Obama miners who contacted their union, the United Mine Workers of America, resulting in 440 miners taking the day off in a contract-sanctioned protest, and halted production at CONSOL's Blacksville No. 2 coal mine.[4]

Stephen G. Young, a vice president at CONSOL, gave $2,000 to Sen. Robert Byrd.[5]

In 2008, CONSOL Energy contributed > $4.0 million to lobbying, the second largest annual contribution by a publicly held energy company (Peabody Energy was number one in 2008, contributing > $6.0 million) . CONSOL Energy retains multiple lobbying firms, each with a team of lobbyists, to press their case for them. In the first quarter of 2009, CONSOL Energy contributed $900,000 to lobbying. [6]

Subsidiaries

Through its subsidy, CNX Coal, the corporation manages coal mining operations, with 17 bituminous coal mining complexes in six states.

CNX Gas extracts methane gas for home use in the Appalachian and Illinois basines, and it is one of the nation's largest natural gas suppliers.

CNX Land manages over 430,000 acres (1,740 km²) of forest land in the US and Canada, using the land both for timber production and energy use.

CNX Ventures manages several East Coast power stations, while CNX Services provides transportation for raw materials.

Financials

CONSOL Energy has annual revenues of $3.8 billion. Customers include electric utilities and steel mills; Allegheny Energy is its largest customer by far.[1]

The company was named one of America’s most admired companies in 2005 by Fortune magazine. CONSOL Energy is rated 513 on the Fortune 1000 (7/5/2006). On April 20, 2009 Consol Energy ranked 497 and entered the Fortune 500 list.

CONSOL Energy entered the S&P 500 on June 28, 2006, replacing Knight-Ridder.

CONSOL:

  • Mines more high-Btu bituminous coal than any other U.S. coal producer.
  • Is the largest U.S. coal producer, in terms of tons mined, east of the Mississippi River.
  • Is the largest U.S. producer of coal from underground mines.
  • Has the second largest amount of recoverable coal reserves among U.S. coal producers.
  • Is the second largest natural gas producer from the Appalachian Basin.
  • Controls 1.0 trillion cubic feet (28 km³) of net, proven reserves of gas.
  • Operates more than 1,800 wells connected by approximately 900 miles (1,400 km) of gathering lines and infrastructure.
  • Produced an average 139.6 million cubic feet per day (3,950,000 m3/d) of pipeline-quality coalbed methane for commercial use in 2004. Its proved reserves total 1.3 trillion cu. ft.[1]
  • Through its subsidiary, CNX Land Resources Inc., has timber and farming operations, as well as commercial development ventures.
  • CONSOL delivers coal using its own railroad cars, export terminals, and fleet of towboats and barges.[1] Maintains a fleet of 29 diesel-powered river boats and more than 700 barges. In 2004, river transports of CONSOL Energy coal totaled 7.9 million tons.[7]

Competitors

Awards and technology

It received the U.S. Department of the Interior's Office of Surface Mining National Award for Excellence in Surface Mining for the company's innovative reclamation practices in 2002, 2003 and 2004.

It has a safety record two times better than the industry average for underground bituminous coal mines.

Also in 2003, the company was listed in Information Week magazine's "Information Week 500" list for its information technology operations.

In 2002, the company received a U.S. Environmental Protection Agency Climate Protection Award.

During 2004 contributed nearly $0.5 million in charitable donations and awarded $0.4 million through scholarships and grants to colleges and universities.

It has a private R&D facility currently working with the U.S. Department of Energy and others on advanced technology for coal and coalbed methane production and utilization.

Naming rights

CONSOL Energy has put its name to two sports facilities in its Pittsburgh-area home:

See also

Footnotes

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