Raymond James 4th Annual Coal Investors Conference June 19, 2012
CONSOL Energy Inc Corporate Profile The leading diversified fuel producer in the Eastern United States Ticker: CNX Headquartered in Pittsburgh, Pennsylvania Founded in 1860 9,164 Employees Market Cap = 6.2 Billion EV = 8.9…
Coal and Gas: Rich Asset Base With Some Vertical Integration CONSOL Energy Inc Coal Natural Gas . 4.5 BTs of proven and probable coal reserves 3.5 Tcfe of proved reserves 628,000 gross Marcellus Shale acres in the JV with Raised…
Core Values Safety CONSOL has invested over 1 billion since 2006 on coal-related safety projects Commitment to Absolute Zero Compliance Continuous Improvement 5
Leading Energy Company Partners Partnering with Hess Corporation to explore and develop the Utica Shale Partnering with Noble Energy to develop the Marcellus Shale 12/31/2011 2011 Market Moodys Reserves Production…
Investment Thesis and Scorecard Safe, Consistent Operations CONSOL believes that it has met or exceeded its quarterly coal production guidance longer than any other underground producer. Astute Marketing CONSOL is successfully…
CONSOL Energy Capital Spending & Flexibility Strategy Relies On Cultivating Our Tier-One, Long-Lived Assets Consistent operations driven by reinvesting In core business Organic growth projects on both coal and gas projects Capital…
Coal Division Strategy Invest in Organic Coal Projects to Participate in Growing World Coal Markets Organic Coal Projects Amonate Mining Complex (mid-vol) Baltimore Terminal Expansion (14 MT going to 16 MTs around October 1) BMX…
BMX Mine Start-Up Slated for 1Q14 Coal from BMX will be processed here at the Bailey Preparation Plant 10
CONSOLs 100%-Owned Baltimore Terminal 11
Strength in Market Diversity CONSOL Ships To Four Continents Widening of The Panama Canal Should Improve Shipping Costs and Potential Coal Margins 12
CONSOL Positioned for EPA Regulations R&D Study of industry coal burn due to regulations - 93% of CONSOL Thermal Coal sold to scrubbed facilities Baseline (2009) 309.0 GW 943.2 MM tpy Coal Regulatory Impact - 40.0 GW - 79.9 MM tpy…
2012 Drilling Focuses on Liquids Exposure 22 (Gross) Utica Shale Wells 39 (Gross) Marcellus Shale Wells PA OH MD WV VA Wet Gas Dry Gas 14
HBP Position enables the JV to drill for Economics Hutchinson Pad 15
Marcellus Wells Improving Over 500-Day Period, CNX Wells in SW PA Yielded 21% More Production Than Competitor Well Average Gross Wellhead Gas Production Mcf/d 4,000 3,000 2,000 1,000 0 0 100 200 300 400 500 600 700…
Our Assets, Strategy and People Create An Investment Opportunity Coal and gas operations are long-lived, low-cost, and provide solid growth Our well-capitalized assets and highly trained personnel - provide more consistent…
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