Consol Energy

IEEFA Research

SEC Warned that Consol Coal IPO Overstates Coal Demand with “Incomplete and Misleading Disclosures”

SEC Warned that Consol Coal IPO Overstates Coal Demand with “Incomplete and Misleading Disclosures”

Greenpeace notified the Securities and Exchange Commission (SEC) this week that Consol Energy did not adequately disclose risks, including declining demand for coal, in the initial public offering (IPO) of CNX Coal Resources, a master limited partnership that would manage Consol’s thermal coal operations in Pennsylvania

In a letter to the SEC, Greenpeace warned that Consol Energy “may have provided materially incomplete and misleading disclosures, which if not corrected, may fall out of compliance” with SEC rules. CNX Coal Resources launched the IPO on June 15. Along with the letter to the SEC, Greenpeace submitted a memo by the Institute for […]

June 23, 2015 Read More →
For U.S. Coal, Market Realities Grow Increasingly Harsh

For U.S. Coal, Market Realities Grow Increasingly Harsh

Debt Hurdles, Reclamation and Pension Challenges, Abandonment by Hedge Funds

We distributed a briefing note this week that delves into some of the many pressing difficulties confronting U.S. coal producers. In the note (“Struggling U.S. Coal Companies Face Debt Hurdles, Complications From Reclamation and Pension Obligations, Pressure from Hedge Funds”) we talk about how the cumulative impacts of the industry’s many mounting liabilities—reclamation costs, pension […]

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New York state pension fund considering divestment from 27 coal companies

Reuters: New York state’s top pension fund official said it was reviewing whether to divest from 27 coal companies and could make decisions on $98 million in holdings within two months. The reviews by the third-largest U.S. state pension system, with $211 billion under management, could set the tone for other retirement plans facing public […]

January 29, 2020 Read More →
IEEFA U.S.: The coal rebound that didn’t happen
and

IEEFA U.S.: The coal rebound that didn’t happen

Industry continues to struggle against increasingly competitive market forces

Some energy pundits have spoken in recent times of an impending U.S. coal renaissance. The Heritage Foundation trumpeted coal’s “Colossal Comeback” in 2017, and a Wall Street Journal reporter in 2018 wrote of its global “resilience.” Industry executives three years ago credited the newly-elected Trump administration with paving the way for fresh investments in new […]

U.S. coal companies, analysts expect strong financial headwinds to continue through 2020

S&P Global Market Intelligence ($): “Flat is the new up,” one analyst said as coal companies reported another brutal quarter for investors in the space while domestic markets continued on a path of secular decline and export markets took a turn for the worse. For the last five years, the S&P 500 has consistently outperformed […]

November 20, 2019 Read More →

Analyst sees big problems ahead for both met and thermal coal sectors in U.S.

S&P Global Market Intelligence ($): At least one analyst believes that more U.S. metallurgical coal mines are likely to shut down in the coming weeks and months following Murray Energy Corp.’s announcement that it is shutting down its Maple Eagle coal mine West Virginia. Due to soft demand for steelmaking coal around the world, Murray’s […]

October 1, 2019 Read More →

Having Failed to Sell Coal Holdings, Consol Energy Will Spin Them Off

SNL: CONSOL Energy Inc. said efforts to sell its coal mining master limited partnership “did not produce compelling results” so the company will focus 100% on preparing a spinoff transaction to be ready before 2017 ends. CONSOL, which is increasingly focused on its natural gas exploration and production operations, launched a process that would separate […]

August 2, 2017 Read More →

Consol Energy Proceeds With Plan to Divest From Its Coal Assets

Bloomberg News: Consol Energy Inc. said it has hired advisers to help push ahead with plans to divest its coal business in a transaction that, people familiar with the matter say, could be worth $2.8 billion or more. The energy company is working with Credit Suisse Group AG and Bank of America Corp. to reach […]

March 6, 2017 Read More →

Resistance, Still, to Acknowledging Climate Risk Among Major Fossil-Fuel Companies

John H. Cushman Jr. for InsideClimate News: A methodical review of the world’s dominant fossil fuel producers has documented their poor performance—in some cases, egregious failure— in taking responsibility for their emissions of greenhouse gases and moving effectively to confront climate change. “None of them has made a clean break from disinformation on climate science […]

October 13, 2016 Read More →

Peabody Settlement on Climate Risks ‘Just the Tip of the Iceberg’

Taylor Kuykendall for SNL: This is just the tip of the iceberg,” Jamie Henn, a spokesman for fossil fuel divestment promoter 350.org told SNL Energy. “The Peabody settlement is going to kick open the door for a whole new wave of activism and investigations looking at how companies are or aren’t disclosing their climate risk. […]

November 10, 2015 Read More →
Investors Want More Straight Talk, More Often, From the Coal Industry

Investors Want More Straight Talk, More Often, From the Coal Industry

While CONSOL and Alliance Discuss Clear Strategies, Peabody Sticks to Its Vague-Optimism Script

Everybody knows coal companies are in bad financial shape. What investors need now is a straight answer on whether the decline is structural or cyclical. Here’s a clue from Nick Deluliis, CEO and president of CONSOL, speaking on the company’s third-quarter earnings call last week: “We’ve see within the United States a significant and a […]

November 3, 2015 Read More →
More Stark Words and Pictures on Just How Bad Things Have Gotten for U.S. Coal Producers

More Stark Words and Pictures on Just How Bad Things Have Gotten for U.S. Coal Producers

A Once-Towering Industry Has Become ‘Only a Fraction of Its Former Self’

SNL is out today with an article that explains in stark words and pictures just how bad things are for the U.S. coal industry. The article, by Christopher Coats, starts like this: “In a year that has seen the coal industry’s financing and investment landscape become especially troubling for domestic producers, the market value of U.S. […]

October 22, 2015 Read More →