When you have employees to pay, equipment to purchase or repair and daily operating expenses, consistent cash flow is a necessity. That’s why many companies choose oilfield factoring as their financing option. It eliminates the wait on customer payment, giving you the working capital you need to operate and grow your business.
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Consol Energy is a publicly owned American energy company with interests in the production of natural gas and coal. Consol Energy is headquartered in Canonsburg, Pennsylvania, which is located right outside of Pittsburgh. Consol Energy is one of the largest companies focused on independent natural gas production, exploration and development, whose operations are centered in major shale formations of the Appalachian Basin.
Consol Energy has been a pioneer company in providing abundant, reliable and affordable domestic energy since its establishment in 1860. However, the company started its first active operations in 1864. A century and a half down the line, the employees of Consol Energy continue to lead in generating the fuels that power the United States.
Consol Energy prides itself on not only being a follower but also a trendsetter. The company believes that they do not just follow the road map to the country’s energy future, but they are also shaping that map on a daily basis. This can only happen through their innovative approach to the responsible production of energy. The company’s energy supports the lives of many Americans year round through the creation of community and family-sustaining jobs. Consol Energy also aims at keeping the United States competitive in the global marketplace.
Consol Energy has managed to remain accomplished and dynamic due to its strong record of environmental stewardship and safety. The fundamental elements of the company’s business model comprise its core values. They are: safety, compliance and continuous improvement. These values also distinguish Consol Energy from its peers. Every day the company strives to maintain its position as not only an innovator but also one of the world’s most respected and safest producers of energy.
Consol Energy was created as the Consolidation Coal Company in 1860 following the merger of several small mining companies located in Western Maryland. For the first 85 years following its establishment in 1864, the company was headquartered in Cumberland, Maryland. This is also where Consolidated Coal Company became the largest company mining bituminous coal in the eastern region of the country.
The company was acquired twice, first by the Continental Oil Company in 1966, then by DuPont in 1981. In 1991, the company agreed to join in an equal part joint venture with Rheinbraun AG, thus creating Consol Energy. In 1998, the company acquired Rochester & Pittsburgh Coal Company but underwent a public offering in 1999 so as to reduce some of the significant debt incurred during the acquisition.
Forbes Magazine named Consol Energy one of the 100 Most Trustworthy Companies in 2010. As of 2011, the company began doing expansions for its terminal in Baltimore in order to increase its capacity from 14 million to 16 million tons. This expansion helped the company increase its revenue.
Consol Energy, which produces energy for electrical power generation, operates as a producer of multiple energy sources. The natural gas and coal divisions happen to be company’s largest assets. However, Consol Energy also maintains support services such as Fairmont Supply Company, Research & Development, Baltimore Marine Terminal, Land Division and River Division.
The Coal Division
The company’s coal division operates 12 mining complexes located in four states throughout the United States. They include the states of Pennsylvania, West Virginia, Utah and Virginia. The coal produced from the 12 mines are sold from Consol offices in Atlanta, Pittsburgh and Philadelphia. In 2002, 2003 and 2004, the company’s coal division was awarded the U.S. Department of the Interior’s Office of Surface Mining’s National Award for Excellence in Surface Mining.
The Gas Division
The company’s gas division is responsible for dealing with the development, production and exploration of natural gas. As of 2010, Consol’s gas division produced almost 128 billion cubic feet of coal-bed methane. The company also has access to more than 3.7 trillion cubic feet of natural gas reserves in Ohio, West Virginia and Pennsylvania. These gas reserves, which include shale and methane beds, are proved to be clean burning.
Consol Energy has continued growth in energy production and revenue. In 2010, the company had an annual income of $5.236 billion. In 2011, the company was ranked number 428 on the Fortune 500 list.
1000 Consol Energy Drive
Canonsburg, PA 15317-6506