Consol selling 5 coal mines, river transport business in $3.5B deal

More than three decades after Consol captured and sold methane to make its coal mines safer, gas is taking center stage in the company’s future.

With cheap gas and climate concerns hurting its market, Consol Energy Inc. is selling the subsidiary that once gave it its name — Consolidation Coal Co. The $3.5 billion deal announced on Monday will free more cash for drilling the Marcellus and Utica shales in West Virginia and Pennsylvania.

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