By JIM ROSS
The State Journal
CHARLESTON, W.Va. — Consol Energy is prepared to complete its split into two separate companies before the end of the year. One will focus on coal, and the other will focus on natural gas.
“Today’s filing represents a significant step towards completing the company’s separation, with both entities being well capitalized and free cash flow generating. This strategic separation will enable both businesses to focus on their inherent strengths and unlock value for their shareholders,” Nicholas J. DeIuliis, president and CEO of Consol, said in a statement issued Tuesday, July 11, as the company filed a form with the Securities and Exchange Commission.
No name was given for the company that will manage the natural gas exploration and production operations.
After the separation, DeIuliis will serve as the president and CEO of the gas business and Don Rush will serve as its executive vice president and chief financial officer.
Jimmy Brock was appointed CEO of the coal business and Katharine Fredriksen as president of the coal business.
See more from The State Journal