CONSOL Energy, Inc. history, company profile (overview) and corporate video
Consol Energy Inc. is an energy company headquartered in Canonsburg, Pennsylvania, United States. It produces and exports high-BTU bituminous thermal coal.
The company owns and operates mining operations in the Northern Appalachian Basin and is developing a new metallurgical coal mine (the Itmann project) in the Central Appalachian Basin. CONSOL’s flagship operation is the Pennsylvania Mining Complex, which is one of the largest underground coal mine complexes in North America and is comprised of 3 large-scale underground mines: Bailey, Enlow Fork, and Harvey. The company also owns and operates the Baltimore Marine Terminal.
HISTORY
Consol Energy’s history began in 1860 when several western Maryland coal operators decided to consolidate their holdings and form the Consolidation Coal Company.
In 1864, Consolidation Coal Company began its operations.
In 1945, Consolidation Coal Company merged with Pittsburgh Coal Company and formed Pittsburgh Consolidation Coal Company.
In 1966, the company was acquired by the Continental Oil Company (Conoco).
In 1981, Conoco along with Consolidation Coal Company was acquired by DuPont.
In 1991, Consol Energy was created through an equal part joint venture between the German energy company Rheinbraun A.G and DuPont.
In 1998, Dupont sold a large majority of its stake in Consol.
In 1998, Consol also acquired Rochester & Pittsburgh Coal Company.
In 2001, Consol acquired Conoco‘s coalbed methane gas production assets in southwestern Virginia.
In 2006, Consol spun off its subsidiary CNX Gas as a standalone company but retained a majority percent of CNX Gas’s shares.
In 2010, Consol continued to grow its natural gas business by acquiring Dominion Resources’ Appalachian Basin exploration and production assets. Consol also acquired all of the remaining publicly owned shares of CNX Gas.
In 2011, Consol entered into two separate joint venture agreements with Noble Energy and Hess Corporation.
In 2017, the company formally split into two publicly traded companies, a natural gas company CNX Resources, and a coal company, which retained the name CONSOL Energy.
With more than 1,500 employees, Consol Energy Inc. is considered one of the largest energy companies in the United States. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.consolenergy.com.
**Video published on YouTube by “GK Visual“