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CONSOL Energy Board of Directors Gives Final Approval to Separation of the Coal and E&P Businesses; Board Authorizes Increase to Share Repurchase Program

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From the safety of our employees to the environment and communities in which we work and live, CONSOL Energy’s corporate responsibility efforts are rooted in our core values and woven throughout the fabric of our corporate culture.

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Era Dates Excerpt
Beginnings 1864 - 1903 The journey began in 1860, when several western Maryland coal operators decided to “consolidate” their holdings to form the Consolidation Coal Company. Operation of the new company was delayed until after the Civil War in April 1864.
Expansion 1904 - 1928 Throughout its long history, CONSOL grew through expansion of existing operations and by acquiring other coal mining companies and reserves throughout all of the major coal fields in the United States.
The Great Depression 1929-1938 Almost forced into receivership by The Great Depression, CONSOL reorganized and restructured its coal operations, emerging from near bankruptcy to end the decade of the 1930s financially solid and secure.
World War II 1939-1952 Plunged into aiding the war effort as were many U.S. companies, CONSOL responded by supplying vital coal energy for transportation and home heating needs. Many CONSOL employees also responded by serving in the Armed Forces.
And Post-War   After the war, a merger formed the Pittsburgh Consolidation Coal Company.
Innovation 1953-1972 As markets for coal began to change, CONSOL met the challenge by expanding existing operations and acquiring other coal companies and reserves. It was also during this time that CONSOL turned to coal research and development for innovative ways to enhance mine safety and to improve coal production and utilization.
Longwall 1973-1982 With increased competition and volatility in the coal industry, CONSOL again adapted to the changing marketplace for energy worldwide by a strong commitment to longwall mining systems in its larger underground mines. Longwall systems are the safest and most productive method of underground coal mining.
Coal Expansion 1983-1991 Seeking to capitalize on a new generation of coal-fired power plants in reaction to the 1973 energy crisis, and in an effort to capture market share in emerging seaborne steam and metallurgical coal markets, CONSOL developed new, state-of-the-art mines in Pennsylvania and Virginia. Ultimately, the Bailey Mine Complex in Greene County, Pennsylvania, would become the largest underground mine in North America.
Multi Fuel Economy 1992-1999 CONSOL began to construct a business around the long-standing safety practice of removing coal bed methane from coal seams prior to mining, representing the genesis of CONSOL’s shift to a multi-fuel energy producer. Late in this period, CONSOL went public, providing the company broader access to the capital markets, thereby allowing CONSOL to more quickly develop its world-class asset base.
Transformation 2000-2016 CONSOL continued to grow its natural gas business with the formation of a separate company, CNX Gas, and the acquisition of Dominion Resources’ Appalachian Basin exploration and production (E&P) assets. The transformation of CONSOL into a pure play E&P company culminated with the sale of the Consolidation Coal Company subsidiary to Murray Energy Corporation in 2013, the initial public offering of CNX Coal Resources LP (NYSE: CNXC) in 2015 and the sale of the Buchanan Mine and other remaining metallurgical coal assets in 2016.
The Future 2016+ Now one of the largest independent natural gas exploration and production companies with operations centered in the major shale formations of the Appalachian Basin, CONSOL Energy continues to earn its reputation as an innovator and one of the world’s safest and most respected energy companies.



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