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CONSOL Sees 73% Lift in Marcellus Production
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CONSOL Energy Inc. reported net income for the quarter ended December 31, 2012 of $150 million, or $0.65 per diluted share, compared to $196 million, or $0.85 per diluted share from the year-earlier quarter. Net income for 2012 was $388 million, or $1.70 per diluted share, compared to $632 million, or $2.76 per diluted share for 2011.
CONSOL's fourth quarter earnings included two discrete items. The company recorded a pre-tax charge of $13 million, or $0.04 per dilutive share (after tax), for a voluntary severance program for certain active salaried corporate and operation support employees and realized a pre-tax gain of $90 million, or $0.26 per dilutive share (after tax), on the sale of assets.
"CONSOL Energy continued to re-balance its world class portfolio of assets in 2012,"…
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