Consol Energy, Dominion join in Appalachia gas deal

摘要

Washington-Pittsburgh-based coal producer Consol Energy vaulted itself into the top ranks of Appalachian unconventional natural gas producers March 15 with the $3.475 billion purchase of Dominion Resources' exploration and production unit.The deal, expected to close next month, would immediately boost gas production by Consol's CNX gas subsidiary by 41% to 386,000 Mcf/d and increase its proved gas reserves 50% to 3 Tcf equivalent, the company said. That makes the company Appalachia's top gas producer, executives said on a conference call.