CONSOL Energy (CNX) Posts Q2 Loss of 37c/Share
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CONSOL Energy Reports Second Quarter Results; Record Quarterly E&P Production of 75.5 Bcfe; E&P Division All-In Unit Costs of $2.90 Per Mcfe; Next 18 Months Cumulative E&P Capital Budget B
July 28, 2015 6:45 AM EDTPITTSBURGH, July 28, 2015 /PRNewswire/ --Â CONSOL Energy Inc. (NYSE: CNX) reported a net loss of $603 million for the quarter, or ($2.64) per diluted share. This compares to a net loss of $25 million, or ($0.11) per diluted share from the year-earlier quarter. The net loss for the quarter includes a significant unusual item: an $829 million pre-tax impairment in the carrying value of CONSOL's shallow oil and natural gas assets largely due to the continuation of depressed NYMEX forward prices.
After adjusting for certain unusual items, which are listed in the EBITDA reconciliation... More
