Consol’s 1Q profit is $116 million
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Consol Energy had an energized first quarter.
The Southpointe-based company Tuesday reported a profit of $116 million, or 50 cents a share, for the first three months of 2014. That is a major leap from the first quarter of 2013, when Consol lost $1.8 million or 1 cent per share.
Consol is a large, independent natural gas exploration, development and production company. It de-emphasized coal, but it still has an interest in mining, the industry that launched the company in April 1864. Consol said it has enough coal assets to produce for another 20 to 30 years.
Locally, Consol started up the BMX Mine in Greene County during the quarter, and owns the Bailey and Enlow Fork mines, It sold five mines in West Virginia late last year: McElroy, Shoemaker, Robinson Run, Loveridge and Blacksville No.2.