Exploration & Production | Quarterly / Earnings Reports
Marcellus Shale Fuels CONSOL's Success, Transformation
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CONSOL Energy Inc. reported a net loss for the quarter ended March 31, 2013 of $2 million, or ($0.01) per diluted share, compared to net income of $97 million, or $0.42 per diluted share from the year-earlier quarter.
Adjusted EBITDA was $275 million for the quarter ended March 31, 2013, compared to $324 million in the year-earlier quarter.
CONSOL's Gas Division remains on pace to grow its gas production to 170 - 180 Bcfe in 2013. If achieved, this will represent an increase of 8 - 15% above the 156.3 Bcfe produced in 2012.
The company's liquidity remained at $2.4 billion, despite investing $406 million on capital projects in the first quarter. Cash flow from operations in the quarter was $268 million, as compared to $229 million in the year-earlier quarter.
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