Consol Coal Production Down, Gas Production Rising

Energy

Published: January 18, 2013 9:45 am

Last Updated: April 27, 2020 7:26 pm

Earlier this week, Consol Energy Inc. (NYSE: CNX) outlined its investment plans for 2013 and said it would focus more on natural gas production. Today the company released its fourth-quarter operational review, and it is pretty clear why the company is looking at natural gas to save the day.

For the fourth quarter, the company produced a total of 14.3 million tons of coal, compared with 15.2 million tons in the fourth quarter of 2011. For the full year, Consol produced 56 million tons of coal, compared with 62 million tons in the previous year.

Forecast production for the first quarter of 2013 is in a range of 13.7 million to 14.1 million tons, and full-year coal production is forecast at 55.5 million to 57.5 million tons.

Consol’s fourth-quarter natural gas production totaled 41.8 billion cubic feet equivalent (bcfe), or up 5% from the fourth quarter of 2011. For the full year, gas production totaled 156.3 bcfe, and the company did not specify 2011 production. Gas production in the first quarter of 2013 is forecast at 39 billion to 41 billion cubic feet, but the full-year total is forecast to rise to 170 to 180 bcfe.

Consol’s shares were up about 2% a few minutes after this morning’s opening bell, at $31.22 in a 52-week range of $26.41 to $38.42.

Peabody Energy Inc. (NYSE: BTU), Arch Coal Inc. (NYSE: ACI) and Alpha Natural Resources Inc. (NYSE: ANR) are along for the ride, up between 1% and 2.5% as well in early trading.

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.