CONSOL Energy Inc. (CEIX), a Pennsylvania-based producer and exporter of high-Btu bituminous coal has approved the issuance of shares of its common stock as part of a merger with CONSOL Coal Resources (CCR).
CEIX owns and operates some of the most productive longwall mining operations in the Northern Appalachian Basin. Its flagship operation is the Pennsylvania Mining Complex, which has the capacity to produce 28.5 million tons of coal per year.
CCR is a master limited partnership formed in 2015 to manage and further develop all of CEIX’s active coal operations in Pennsylvania. Its assets include a 25 percent undivided interest in, and operational control over, the Pennsylvania Mining Complex.
Following the approval of the CEIX Stock Issuance by the CEIX stockholders and the approval of the merger by the CCR limited partners, CEIX acquired all of the outstanding common units of CCR that it did not already own. Following the move, CCR will survive as an indirec
