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Consol Energy Inc.
CONSOL Energy to Acquire Dominion's Appalachian E&P Business for $3.475 Billion In Cash
April 4th, 2010
CONSOL Energy Inc. (NYSE: CNX), a producer of high-Btu thermal coal, metallurgical coal and natural gas, announced that it has entered into a definitive agreement to acquire the Appalachian exploration and production business of Dominion Resources, Inc. for $3.475 billion in cash. CONSOL Energy is already the most profitable coal-focused energy company and is the second largest holder of coal reserves among U.S. publicly traded coal companies. This acquisition will substantially increase its natural gas reserves and production capacity - further enhancing CONSOL Energy's position as a leading diversified energy company with a balanced portfolio of coal and natural gas.
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Source: Marketing Business Weekly (2010-04-04)