By Stephanie Ritenbaugh
Consol Energy is moving forward with plans to form a master limited partnership for its thermal coal business, the Cecil-based energy company announced Wednesday.
The MLP would own interests in some of Consol Energy’s thermal coal properties and related mining operations in Pennsylvania, including its Bailey Mine, Enlow Fork Mine, Harvey Mine and a preparation plant.
The coal and natural gas company, which had said it was considering spinning out its thermal coal assets in October, expects to launch an initial public offering of the master limited partnership in mid-2015.
Establishing the thermal coal MLP follows the creation of another spin out — Cone Midstream, an oil and gas gathering and processing MLP, which is joint venture between Consol and Houston-based Noble Energy Inc.Read more