CNX Gas Corp.

Public Company, Headquarters Location
1000 CONSOL Energy Dr., Canonsburg, PA 15317-6506, United States
(724)485-4000, http://www.cnxgas.com

Primary SIC: Crude Petroleum And Natural Gas, Primary NAICS: Crude Petroleum and Natural Gas Extraction
Description: CNX Gas Corporation began extracting coalbed methane (CBM) in the early 1980s from coal seams in Virginia in order to reduce the gas content in the coal being mined by CONSOL Energy. The company developed techniques to extract CBM from coal seams prior to mining in order to enhance the safety and efficiency of CONSOL Energy's mining operations. On June 30, 2005, CNX Gas was formed as a Delaware corporation. On August 8, 2005, the company acquired all of CONSOL Energy's rights associated with CBM from 4.5 billion tons of proved coal reserves owned or controlled by CONSOL Energy in Northern Appalachia, Central Appalachia, the Illinois Basin and other western basins. In exchange, CONSOLE Energy owns 83.3 percent of the company's outstanding common stock, which is publicly traded on the New York Stock Exchange. CNX Gas engages in the exploration, development, production and gathering of natural gas primarily in the Appalachian and Illinois Basins. In particular, the company is a developer of CBM with a growing conventional and shale exploration program. The company's proved reserves are approximately 97 percent CBM, 55 percent proved developed, and long-lived with a reserve life index of 18.6 years.Mining: Natural gas.