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NEW YORK (AP) -- Consol Energy is trimming the amount of money it spends on buying and developing land for oil production, joining other energy companies that are reducing spending due to falling oil prices.
The natural gas and coal producer said Friday that it lowered its capital spending budget to $920 million, down $80 million from its previously announced budget of $1 billion. Consol also said it plans to reduce its operational costs, but didn't say by how much.
Shares of Consol Energy Inc., based in Canonsburg, Pa., fell $1.34, or 4.8 percent, to $26.27 in afternoon trading.
Several energy companies, including Chevron Corp. and Exxon Mobil Corp., have trimmed their spending after oil prices plunged. Oil prices have fallen as production in the U.S. increased, outweighing demand.
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Consol Energy Inc.
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PRODUCER |
CODE : CNX |
ISIN : US20854P1093 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Consol Energy is a producing company based in United states of america. Consol Energy produces coal in USA, and holds various exploration projects in USA. Its main asset in production is BUCHANAN in USA. Consol Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 5.3 billions as of today (€ 5.0 billions). Its stock quote reached its highest recent level on June 06, 2008 at US$ 99.79, and its lowest recent point on April 26, 2019 at US$ 10.00. Consol Energy has 223 758 284 shares outstanding. |