CONSOL Energy completed the acquisition of CONSOL Coal Resources for $34.4m.

CONSOL Energy, a Canonsburg, Pennsylvania-based producer and exporter of high-Btu bituminous thermal and crossover metallurgical coal, completed the acquisition of CONSOL Coal Resources, a coal exploration company, for $34.4m. "We are extremely excited to announce this transaction, as we believe it will provide significant benefits for both CEIX and CCR stakeholders. We firmly believe these two companies are a much healthier entity once consolidated than they would be on a standalone basis, regardless of the circumstance. Simplifying the structure will bring immediate benefits to the combined entity such as improving its consolidated credit metrics, creating financial flexibility and eliminating dual public company costs. In the longer term, we expect this transaction will improve the creditworthiness of the combined entity, while also enhancing capital market access and trading liquidity. Finally, this merger accelerates our ability to return capital to our shareholders," Jimmy Brock, CONSOL Energy President and CEO.