Coal stocks had a terrible 2013, but the full-year drops hid far-better second halves. But with coal getting hit early this year, it’s fair to ask: Is the coal boom over?
Jeff Swensen for The Wall Street JournalThe�Market Vectors Coal�ETF�(KOL) dropped 21% last year, but has gained 6.3% during the past six months. Peabody Energy�(BTU), meanwhile, fell 25% last year but has climbed 27% during the past six months, Alpha Natural Resources�(ANR) declined 27% but has gained 41% and Arch�Coal�(ACI) plunged 38% but gained 25% during the last six months. Consol Energy (CNX) rose 20% last year and gained 19% during the last six months.
And there were reasons to believe the coal recovery could continue. Newedge’s Robbert van Batenburg thought the policy mix could be more supportive with mid-term elections ahead, and the Wall Street Journal headline claimed that “despite gas boom, coal isn’t dead.”
10 Best Retail Stocks For 2015: Frontline Ltd (FRO)
Frontline Ltd., incorporated on June 12, 1992, is a shipping company. The Company is engaged primarily in the ownership and operation of oil tankers and oil/bulk/ore (OBO) carriers. The Company operates tankers of two sizes: very large crude carriers (VLCCs), which are between 200,000 and 320,000 deadweight tons, and Suezmax tankers, which are vessels between 120,000 and 170,000 deadweight tons. As of December 31, 2010, its tanker and OBO fleet consisted of 73 vessels. The fleet consists of 44 VLCCs, which are either owned or chartered in, 21 Suezmax tankers, which are either owned or chartered in and eight Suezmax OBOs, which are chartered in. The Company also had five VLCC newbuildings and two Suezmax newbuildings on order and three VLCCs under its commercial management. In February 2010, it purchased the VLCC Front Vista from Ship Finance International Limited (Ship Finance). In January 2011, it sold the VLCC Front Shanghai.
The Company operates through subsidiaries and partnerships located in the Bahamas, Bermuda, the Cayman Islands, India, the Isle of Man, Liberia, Norway, the United Kingdom and Singapore. The Company is also engaged in the charter, purchase and sale of vessels. In April 2010, the Company delivered the single hull Suezmax Front Voyager. During the year ended December 31, 2010, six newbuildings were completed. Four Suezmax vessels were delivered: the Northia, on January 5, 2010; the Naticina, on March 9, 2010; the Front Odin, on May 5, 2010, and the Front Njord on August 12, 2010. Two VLCCs were delivered: the Front Cecilie on June 10 and the Front Signe on August 9, 2010. As of December 31, 2010, the Company's newbuilding program consisted of two Suezmax tankers and five VLCCs.
Advisors' Opinion:- [By Dan Caplinger]
The reason for the disconnect between earnings and stock performance has to do with the changing fundamentals for shipping overall. For years, shipping companies both on the dry-bulk and the tanker side of the industry have suffered from weakness in the global economy after having built huge numbers of new ships during better times. That forced Overseas Shipholding Group to seek bankruptcy protection late last year and has left tanker giant Frontline (NYSE: FRO ) under considerable financial pressure as it continues to labor under a substantial debt load.
Best Energy Companies To Buy For 2014: KiOR Inc (KIOR)
KiOR, Inc. (KiOR), incorporated on July 23, 2007, is development- stage company. KiOR is a renewable fuels company engaged in producing cellulosic gasoline and diesel from abundant non-food biomass. Cellulosic fuel is derived from lignocellulose found in wood, grasses and the non-edible portions of plants. The Company generates hydrocarbons from renewable sources . Its end products are fungible hydrocarbon-based gasolines and diesels that can be used as components in formulating finished gasoline and diesel fuels, rather than alcohols or fatty acid methyl esters (FAME) such as ethanol or biodiesel. During the year ended December 31, 2011, the Company commenced construction of its initial-scale commercial production facility in Columbus, Mississippi, designed to process 500 bone dry ton per day (BDT) of feedstock per day, As of December 31, 2011, the Company had not generated any revenues.
The Company has developed a process that converts non-food lignocellulose into gasoline and diesel that can be transported using the existing fuels distribution system for use in vehicles on the road. Its biomass-to-cellulosic fuel technology platform combines catalyst systems with fluid catalytic cracking (FCC) processes that have been used in crude oil refineries to produce gasoline. The biomass fluid catalytic cracking (BFCC) process operates at moderate temperatures and pressures to convert biomass in a matter of seconds into the renewable crude oil that can be processed using standard refining equipment into its cellulosic gasoline and diesel. In its demonstration unit the Company varies its volume output of gasoline from 37% to 61%, diesel from 31% to 55% and fuel oil from 8% to 9% from its renewable crude oil. The Company focuses on its commercialization efforts with respect to its gasoline and diesel. As of December 31, 2011, the Company had 76 pending original patent application families containing over 2,300 pending claims.
Advisors' Opinion:- [By Nickey Friedman]
It has not been a good year for biofuel producer KiOR (NASDAQ: KIOR ) . Aside from the stock being down over 75%, the company has badly missed its guidance targets virtually every time, and its CFO quit without any explanation. Then, to top off the 12 months of disappointment, KiOR ended the year with another resignation and more production shortfalls.
- [By Bryan Murphy]
To say KiOR Inc. (NASDAQ:KIOR) is one of today's biggest winners would still be an understatement. This clean-fuels company's stock is up nearly 60% in Thursday's trade on news of plans to grow its production capability significantly within the foreseeable future. Traders responded accordingly, rewarding the corporation's initiative by bidding up KIOR to a price of $2.86, as of the last look.
- [By Robert Rapier]
In 2011, Khosla took public Amyris (Nasdaq: AMRS), Gevo (Nasdaq: GEVO), and KiOR (Nasdaq: KIOR). Each of these stocks started out trading up from the IPO price, with Amyris gaining more than 90 percent at one point. But the challenges of producing fuels from biomass began to mount, and investors realized that this business is capital-intensive. Enthusiasm for these companies dissipated as they fell short of production expectations. Since their respective IPOs Amyris, Gevo, and KiOR are down 70 percent, 92 percent, and 88 percent.
- [By Maxx Chatsko]
KiOR (NASDAQ: KIOR ) Here's a company that often gets associated with industrial biotech companies, but there are very few comparisons. Rather than encouraging microbes to pump out useful chemicals and fuels in biochemical processes, KiOR uses standard thermocatalytic reactions to turn wood chips and waste into drop-in fuels. The company does not produce cellulosic ethanol or biodiesel. The company produces chemically identical cellulosic gasoline and diesel, although current operations churn out fuel blendstocks. KiOR's first facility has an annual capacity of between 11-13 million gallons of fuels, while a larger facility will be three times that size. A modular platform and catalytic improvements will help boost economics and scale for future production.
Best Energy Companies To Buy For 2014: Cenovus Energy Inc (CVE)
Cenovus Energy, Inc. (Cenovus), incorporated on January 1, 2011, is a Canadian integrated oil company. The Company�� operations include oil sands projects in northern Alberta, which use specialized methods to drill and pump the oil to the surface. It also has natural gas and oil production in Alberta and Saskatchewan. It operates in four segments: oil sands, conventional, refining and marketing, and corporate and eliminations. The Company has 50% ownership with Phillips 66 in two United States refineries, which includes Wood River (Illinois) and Borger (Texas) refineries. It has two producing steam-assisted gravity drainage (SAGD) projects in the oil sands-Foster Creek and Christina Lake, as well as several emerging projects which are in various stages of development. Foster Creek and Christina Lake are 50%-owned by ConocoPhillips. It also produces heavy oil from the mobile Wabiskaw formation at its 100%-owned Pelican Lake operation in the Greater Pelican Region, about 300 kilometers north of Edmonton.
Its reserves and production are located in Canada, primarily within the provinces of Alberta and Saskatchewan. As of December 31, 2012, it had a land base of approximately seven million net acres and Company Interest Before Royalties proved reserves of approximately 1,717 million barrels of bitumen, 184 million barrels of heavy crude oil, 115 million barrels of light and medium crude oil and NGLs and 955 billion cubic feet of natural gas. It also had Company Interest Before Royalties probable reserves of approximately 676 million barrels of bitumen, 105 million barrels of heavy crude oil, 56 million barrels of light and medium crude oil and natural gas liquefied (NGLs) and 338 billion cubic feet of natural gas as of December 31, 2012.
Oil Sands
The Oil sands segment includes the development and production of Cenovus�� bitumen assets at Foster Creek, Christina Lake and Narrows Lake, as well as heavy oil assets at Pelican Lake. This segment also includes the Atha! basca natural gas assets and projects in the early stages of development, such as Grand Rapids and Telephone Lake. Certain of the Company�� operated oil sands properties, notably Foster Creek, Christina Lake and Narrows Lake, are jointly owned with ConocoPhillips. As of December 31, 2012, it had bitumen rights of approximately 1,469,000 gross acres (1,097,000 net acres) within the Athabasca and Cold Lake areas, as well as the exclusive rights to lease an additional 478,000 net acres areas on the Cold Lake Air Weapons Range on its behalf and/or its assignee�� behalf.
As of December 31, 2012, there were 56 wells producing. It operates an 80 megawatt natural gas-fired cogeneration facility in conjunction with the SAGD operation at Foster Creek. The steam and power generated by the facility is presently being used within the SAGD operation and the excess power generated is being sold into the Alberta Power Pool. It has 50% interest in Christina Lake, an oil sands property in northeast Alberta that uses SAGD technology and produces from the McMurray formation. During 2011, the Company drilled three wells at Christina Lake using its Wedge WellTM technology. As of December 31, 2012, there were six producing wells.
The Company holds 50% interest in Narrows Lake, an oil sands property within the Christina Lake Region in northeast Alberta. The project includes gross production capacity of 130,000 barrels per day (bbls/d) of bitumen to be developed in up to three phases, with the first phase expected to have production capacity of approximately 45,000 barrels per day of bitumen. Using a pattern, horizontal well polymer flood, it produces heavy crude oil from the Cretaceous Wabiskaw formation at its Pelican Lake property, which is located within the Greater Pelican Region in northeast Alberta. During 2012, it drilled 76 heavy oil wells. The Company holds a 38% non-operated interest in 110 kilometers, 20-inch diameter crude oil pipeline, which connects the Pelican Lake area to a pipelin! e that tr! ansports crude oil from northern Alberta to crude oil markets.
The Company�� new resource play assets include oil sands properties. Its Grand Rapids property is located in the Greater Pelican Region in northeast Alberta, where deposits of bitumen have been identified in the Cretaceous Grand Rapids formation. Its Telephone Lake property is located in the Borealis Region in northeast Alberta. The Steepbank and East McMurray properties are also located in the Borealis Region, southwest of Telephone Lake. It produces natural gas from the Cold Lake Air Weapons Range and several surrounding landholdings located in northeast Alberta and hold surface access and natural gas rights for exploration, development and transportation from areas. The majority of its natural gas production in the area is processed through wholly owned and operated compression facilities.
Conventional
Conventional segment includes the development and production of conventional crude oil, NGLs and natural gas in Alberta and Saskatchewan. It includes the carbon dioxide enhanced oil recovery project at Weyburn and emerging tight oil opportunities. As of December 31, 2012, it had an established land position of approximately 4.9 million gross acres, of which approximately 3.2 million gross acres are developed. The mineral rights on approximately 59% of its net landholdings are owned in fee title by Cenovus. It leases Crown lands in some areas in Alberta, mainly in the Early Cretaceous geological formations, primarily in the Suffield and Wainwright areas.
The Company holds interests in multiple zones in the Suffield, Brooks North, Langevin, Drumheller, and Wainwright areas in southern Alberta with a mix of medium and heavy crude oil production. Development in these areas focuses on infill drilling, optimization of existing wells and other specialized oil recovery methods. It operates water handling facilities to manage oil production. In the unitized portion of the Weyburn crude oil field ! in southe! ast Saskatchewan, it has 62% working interest. The Weyburn unit produces light and medium sour crude oil from the Mississippian Midale formation and covers 78 sections of land. As of December 31, 2012, approximately 90% of the approved CO2 flood pattern development at the Weyburn unit was completed. It holds interests in multiple zones in the Suffield, Brooks North, Langevin and Drumheller areas in southern Alberta.
Refining and Marketing
Refining and marketing segment is focused on the refining of crude oil products into petroleum and chemical products at two refineries located in the United States. The refineries are jointly owned with and operated by Phillips 66. This segment also markets Cenovus�� crude oil and natural gas, as well as third-party purchases and sales of product that provide operational flexibility for transportation commitments, product type, delivery points and customer diversification.
Through WRB Refining LP (WRB), the Company has 50% ownership interest in both the Wood River and Borger Refineries located in Roxana, Illinois and Borger, Texas respectively. ConocoPhillips is the operator and manager of WRB. As of December 31, 2012, the Wood River refinery had a processing capacity of approximately 306,000 barrels per day of crude oil, including approximately 110,000 barrels per day of heavy crude oil. It processes light low-sulphur and heavy high-sulphur crude oil that it receives from North American crude oil pipelines to produce gasoline, diesel and jet fuel, petrochemical feedstocks and asphalt. As December 31, 2012, the Borger Refinery had a processing capacity of approximately 146,000 barrels per day of crude oil, including approximately 35,000 barrels per day of heavy crude oil, and approximately 45,000 barrels per day of NGLs. It processes crude oil and NGLs that it receives from North American pipeline systems to produce gasoline, diesel and jet fuel along with NGLs and solvents.
The Company's Marketing group is focused ! on enhanc! ing the netback price of its production. It manages the transportation and marketing of crude oil for its upstream operations. It also manages the marketing of its natural gas, which is primarily sold to industrials, other producers and energy marketing companies.
Corporate and Eliminations
The segment includes inter-segment eliminations that relate to transactions that have been recorded at transfer prices based on current market prices, as well as unrealized intersegment profits in inventory. The Corporate and Eliminations segment also includes Cenovus costs for general and administrative and financing activities.
Advisors' Opinion:- [By Robert Rapier] I spent the past week in the heart of the Athabasca oil sands in Fort McMurray, Alberta. I was there as a guest of the Canadian government, which hosts annual tours for small groups of journalists and energy analysts. The trip was incredibly informative, and helped me gain a much deeper understanding of what’s happening in Alberta’s oil sands.
In today’s Energy Letter, I want to provide readers with a general overview of the situation in Alberta. In this week’s Energy Strategist I will specifically discuss two companies that I visited on this trip — Cenovus Energy (NYSE: CVE, TSE:CVE) and Canadian Natural Resources (NYSE: CNQ, TSE: CNQ). In next week’s Energy Letter I will discuss some of the logistical issues involved in getting the oil sands crude to market.
Canada produced 3.9 million barrels per day (bpd) in 2012, making it the fifth largest oil producer in the world. Canada is also the fifth largest global natural gas producer at 15 billion cubic feet (Bcf) per day.
Alberta has a population of 4 million people, and is Canada’s primary oil- and gas-producing province. Alberta’s economy is highly dependent on oil and gas. It’s situated next to its more liberal neighbor British Columbia, which is a bit like having Texas border California.
Alberta accounted for 2.5 million bpd of Canada’s oil production, and 10 Bcf/day of Canada’s gas production last year. Alberta’s share of Canada’s oil production is expected to grow substantially over time. The province supplied 22 percent of US crude oil imports in 2012, a larger contribution than from any country other than its own.
Canada has the third-largest oil reserves in the world — more than Iran or Iraq. Of the 173 billion barrels of Canadian reserves, 169 billion barrels are from oil sands, which are a mixture of sand, clay, water and bitumen — a very heavy oil.
Of the world’s oil re - [By Holly LaFon]
We also added Cenovus (CVE) to the Worldwide High Dividend portfolio during the quarter. This Canadian oilsands operator has a strong production growth profile with low cost in situ oilsands reserves. At purchase, Cenovus was trading at a substantial discount from our estimate of intrinsic value and was paying a dividend yield of 3.2%.
- [By Holly LaFon]
Portfolio activity was quite modest during the quarter. However, noteworthy new editions to some of our Fund portfolios included two Hong Kong-based companies and Cenovus Energy (CVE), a Canadian oilsands company. One of the Hong Kong-based companies is a real estate conglomerate, which has a strong operating record, is in a net cash position, and at purchase was trading at a one third discount from our conservative estimate of its intrinsic value. After spinning off much of its real estate into two REITS at what we believe were very advantageous prices, it should have the financial flexibility to create additional value should Hong Kong real estate face a downturn. The other Hong Kong-based company is a luxury retailer and a classic Ben Graham net current asset microcap stock, which at purchase was trading at two thirds of its net cash and inventories. We also added Cenovus to the Worldwide High Dividend portfolio during the quarter. This Canadian oilsands operator has a strong production growth profile with low cost in situ oilsands reserves. At purchase, Cenovus was trading at a substantial discount from our estimate of intrinsic value and was paying a dividend yield of 3.2%. We also added to a number of pre-existing positions in our Fund portfolios during the quarter, including Banco Santander Brasil, TNT Express, G4S, and DBS, among others.
Best Energy Companies To Buy For 2014: World Point Terminals LP (WPT)
World Point Terminals, LP, incorporated on April 19, 2013, is a fee-based Delaware limited partnership formed to own, operate, develop and acquire terminals and other assets relating to the storage of light refined products, heavy refined products and crude oil. WPT GP, LLC is the general partner of the Company. It operates in a single reportable segment consists primarily of the fee-based storage and terminaling services it performs under contracts with its customers. The Company�� storage terminals are located in the East Coast, Gulf Coast and Midwest regions of the United States and, as of May 31, 2013, had a combined available storage capacity of 12.4 million barrels. The Company provides terminaling and storage of light refined products, such as gasoline, distillates and jet fuels; heavy refined products, such as residual fuel oils and liquid asphalt, and crude oil. Most of its terminal facilities are located on waterways, and have truck racks. Several of its terminal facilities also have rail or pipeline access. As of May 31, 2013, approximately 93% of its available storage capacity was under contract.
The Company generates revenue from Storage Services Fees, Ancillary Services Fees and Additive Services Fees. Storage Services Fees are its customers pay base storage services fees, which are fixed monthly fees paid at the beginning of each month to reserve storage capacity in its tanks and to compensate it for receiving up to a base product volume on their behalf. The Company charges ancillary services fees to its customers for providing services, such as heating, mixing and blending its customers��products that are stored in its tanks; transferring its customers��products between its tanks; at its Granite City terminal, adding polymer to liquid asphalt, and rail car loading and dock operations. The Company generates revenue from fees for injecting generic gasoline, gasoline, lubricity, red dye and cold flow additives to its customers��products.
Advisors' Opinion:- [By Jon C. Ogg]
World Point Terminals L.P. (NYSE: WPT) was initiated as Outperform with a $23 price target at Credit Suisse.
See also more analyst upgrades and downgrades for Tuesday.
- [By Robert Rapier]
World Point Terminals (NYSE: WPT) owns and operates terminals and other assets for the storage of light refined products, heavy refined products and crude oil. World Point’s storage terminals are located in the East Coast, Gulf Coast and Midwest regions of the US. The partnership debuted on Aug. 9, and units have gained 2 percent since. The partnership agreement provides for a minimum quarterly distribution of $1.20 per unit on an annualized basis. At the recent closing price of $19.64/unit, this equates to a minimum annualized yield of 6.1 percent.
- [By John Emerson]
Berman pioneered the idea of the World Poker Tour (WPT) and sold the concept to the Travel Channel. Watching poker on television had always been boring since the viewing audience could not see the down cards which the players held. Berman remedied that problem by allowing a camera to expose the down cards to the TV audience. That idea suddenly transformed Texas Holdem into a fascinating spectator�� sport. By the end of 2003 the stock had reached its book value of 15 dollars a share and I decided to take my profits, perhaps a bit prematurely. The stock quickly climbed to about 30 dollars a share on sheer momentum.
Best Energy Companies To Buy For 2014: CONSOL Energy Inc (CNX)
CONSOL Energy Inc. (CONSOL Energy), incorporated in 1991, is a producer of coal and natural gas for global energy and raw material markets, which include the electric power generation industry and the steelmaking industry. During the year ended December 31, 2011, the Company produced 62.6 million tons of high-British thermal unit (Btu) bituminous coal from 12 mining complexes in the United States. In addition, it provides energy services, including river and dock services, terminal services, industrial supply services, coal waste disposal services and land resource management services. The Company operates in two segments: Coal and Gas. In July 2012, Cloud Peak Energy Inc. acquired Youngs Creek Mining Company, LLC (Youngs Creek) joint venture and other related coal and surface assets from Chevron U.S.A. Inc. (Chevron) and the Company.
Coal Operations
The principal activities of the Coal unit are mining, preparation and marketing of thermal coal, sold primarily to power generators, and metallurgical coal, sold to metal and coke producers. The Coal division consists of four reportable segments, which includes Thermal, Low Volatile Metallurgical, High Volatile Metallurgical and Other Coal. Each of these reportable segments includes a number of operating segments (mines or type of coal sold). During 2011, the Thermal aggregated segment included the Bailey, Blacksville #2, Enlow Fork, Fola Complex, Loveridge, McElroy, Miller Creek Complex, Robinson Run and Shoemaker mines. During 2011, the Low Volatile Metallurgical coal aggregated segment included the Buchanan mine. During 2011, the High Volatile Metallurgical coal aggregated segment included Bailey, Blacksville #2, Enlow Fork, Fola Complex, Loveridge, Miller Creek Complex and Robinson Run coal sales.
The Other Coal segment includes its purchased coal activities, idled mine activities, as well as various other activities assigned to the coal division but not allocated to each individual mine. During 2011, the Company! �� reserves were located in northern Appalachia (62%), the mid-western United States (17%), central Appalachia (15%), the western United States (4%), and in western Canada (2%). As of December 31, 2011, the Company had an estimated 4.5 billion tons of proven and probable reserves. During 2011, 94% of its production came from underground mines, 6% from surface mines, and 91% of its production came from mines equipped with longwall mining systems. As of December 31, 2011, CONSOL Energy operated 22 towboats, five harbor boats and a fleet of 625 barges that serve customers along the Ohio, Allegheny, Kanawha and Monongahela Rivers. During 2011, over 84% of all the coal it produced was sold under contracts with terms of one year or more.
Gas Operations
The principal activity of the Gas division is to produce pipeline methane gas for sale primarily to gas wholesalers. The Gas Division consists of four reportable segments, which include Coalbed Methane (CBM), Marcellus, Shallow Oil and Gas and Other Gas. The Other Gas segment includes its purchased gas activities, as well as various other activities assigned to the gas division but not allocated to each individual well type. Its gas division focuses on developing the Marcellus acreage position in southwest Pennsylvania, central Pennsylvania and northwest West Virginia. CONSOL Energy�� all Other segment includes terminal services, river and dock services, industrial supply services and other business activities. Its gas operations primarily produce CBM, which is a gas that resides in coal seams. The Company�� Coalbed Methane operations are located in central Appalachia in Southwest Virginia. Its CBM production also comes from northern Appalachia in northwestern West Virginia and southwestern Pennsylvania where it drills vertical-to-horizontal CBM wells.
As of December 31, 2011, the Company had rights to extract CBM in Virginia from approximately 359,000 net CBM acres, which cover a portion of its coal reserves in Cen! tral Appa! lachia. CONSOL Energy produces gas primarily from the Pocahontas #3 seam, which is the coal seam mined by its Buchanan Mine. The Company also has right to extract CBM in northwestern West Virginia and southwestern Pennsylvania from approximately 859,000 net CBM acres, which contains its recoverable coal reserves in Northern Appalachia. CONSOL Energy produces gas primarily from the Pittsburgh #8 coal seam.
In central Pennsylvania, the Company has the right to extract CBM from approximately 263,000 net CBM acres, which contains its recoverable coal reserves, as well as leases from other coal owners. In addition, CONSOL Energy controls 810,000 net CBM acres in Illinois, Kentucky, Indiana and Tennessee. It also has the right to extract CBM on 139,000 net acres in the San Juan Basin, 20,000 net acres in the Powder River Basin and 92,000 net acres in eastern Ohio and central West Virginia. Its Marcellus wells are primarily horizontal wells with 2,500 to 5,000 feet of lateral length. As of December 31, 2011, the Company had the right to extract natural gas in Pennsylvania, West Virginia and New York from approximately 361,000 net acres.
CONSOL Energy controls approximately 346,000 net acres of rights to gas in the New Albany shale in Kentucky, Illinois and Indiana. The New Albany shale is a formation containing gaseous hydrocarbons, and its acreage position has thickness of 50-300 feet at an average depth of 2,500-4,000 feet. CONSOL Energy has 249,000 net acres of Chattanooga Shale. It has 457,000 net acres of Huron shale in Kentucky and Virginia. During 2011, the Company drilled 254.9 net development wells and 47 net developmental wells.
Other Operations
CONSOL Energy provides other services to its own operations and others. These include land services, industrial supply services, terminal services, including break bulk, general cargo and warehouse services, and river and dock services water services. Fairmont Supply Company, which is CONSOL Energy�� subs! idiary, i! s a general-line distributor of mining, drilling, and industrial supplies in the United States. During 2011, approximately 12.6 million tons of coal was shipped through CNX Marine Terminal Inc.�� exporting terminal in the Port of Baltimore. CONSOL Energy�� river operations, located in Monessen, Pennsylvania, transport coal from its mines, coal from other mines and non-coal commodities from river loadout facilities located primarily along the Monongahela and Ohio Rivers in northern West Virginia and southwestern Pennsylvania.
As of December 31, 2011, it operated 22 towboats, five harbor boats and 625 barges. In 2011, its river vessels transported a total of 19.1 million tons of coal and other commodities, including 6.2 million tons of coal produced by CONSOL Energy mines. CONSOL Energy provides dock services for its mines, as well as for third parties at its Alicia Dock, located on the Monongahela River in Fayette County, Pennsylvania. Its subsidiary CNX Water Assets LLC acquires and develops existing sources of water used to support its coal and gas operations.
Advisors' Opinion:- [By Claudia Assis]
Among the handful of energy companies in the black, coal miner Consol Energy Inc. (CNX) �rose 0.3%. The Williams Cos. Inc. (WMB) �advanced 0.2%.
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