What happens when a more than 100-year-old energy leader decides to split its business in two parts—one focusing on coal and the other on natural gas? How does that affect employees? And as a national leader in both segments, how does that affect the market strength of each company as a separate entity, rather than as a conglomerate?
In this month’s edition of the Energy Insider Interview Series, Matthew Burger, Chair of Buchanan’s Energy section spoke with Tim Dugan, Chief Operating Officer of Exploration and Production for CONSOL Energy. Just this month, CONSOL’s board approved its split into two publicly traded companies, one to mine coal and the other to extract oil and gas. Once the split becomes official, Dugan will remain on the gas side, soon to be known as CNX Resources Corp.
In the interview, Mr. Dugan speaks about the decision to make the split, how it came to be and what the future holds for the two companies. He also discusses the impact of loosening federal regulations on CONSOL’s business and how the companies keep pace in what’s now an ultra-competitive western Pennsylvania talent market.