The Marcellus continues to mesmerize aspiring shale players. We've seen Statoil team up with Chesapeake Energy
Supporting my thesis that Asia's shale gas appetite is growing, India's Reliance Industries was said to be in talks with Atlas Energy
A week ago, CONSOL grabbed a big piece of Marcellus real estate through a deal with Dominion. I said that the coal firm got gas, and I meant that in more ways than one. The firm understands the hurdles that coal is likely to face in the years ahead. Cap and trade may never move forward, but some form of carbon tax remains quite likely. CONSOL is diversifying into coal's natural successor: natural gas.
Today's offer to buy out the piece of CNX Gas
Whether you view this acquisition as a timely move depends a lot on your outlook for natural gas in 2010. While I'm pretty agnostic on that issue, the larger strategic rationale appears sound.