Reuters: Regulatory News: Consol Energy to sell five West Virginia coal mines

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Consol Energy to sell five West Virginia coal mines Oct 28th 2013, 12:12 Mon Oct 28, 2013 8:12am EDT Oct 28 (Reuters) - Consol Energy Inc said on Monday it will sell five West Virginia coal mines to privately held Murray Energy Corp amid regulatory uncertainty and as it focuses more on growing its natural gas operations. The company, which was founded during the U.S. Civil War, is selling the mines for $850 million cash, as well as $184 million in future royalty payments for coal reserves. Murray would also assume $2.4 billion of Consol's liabilities, mostly for worker pensions and other benefits.

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