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UPDATE 1-Consol sells non-producing coal assets for $170 mln
July 2, 2012 / 1:03 PM / 5 years ago

UPDATE 1-Consol sells non-producing coal assets for $170 mln

July 2 (Reuters) - Coal and natural gas producer Consol Energy Inc said it sold its non-producing assets in Wyoming’s Northern Powder River Basin coal fields to Cloud Peak Energy for $170 million in cash to fund its capital spending for the year.

Consol will retain an 8 percent production royalty interest on about 200 million tons, the company said.

The assets include Youngs Creek Mining Company LLC and CX Ranch, both of which are 50 percent owned by Chevron Corp , and properties in and around Sheridan, Wyoming.

Consol’s asset sales this year, including the Cloud Peak deal, total $224 million.

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