Consol Energy to Acquire Dominion’s Appalachian E&P Business for $3.475 Billion
(Houston, Texas) – Consol Energy Inc. (NYSE: CNX), a producer of high-Btu thermal coal, metallurgical coal and natural gas, announced today that it has entered into a definitive agreement to acquire the Appalachian exploration and production business of Dominion Resources, Inc. for $3.475 billion in cash.
Under the terms of the deal, Consol will acquire 1.46 million oil and gas acres from Dominion, along with more than 9,000 wells that are expected to produce more than 41 billion cubic feet equivalent in 2010.
Akin Gump Strauss Hauer & Feld LLP partner James L. Rice III and counsel Gabriel J. Procaccini led the transaction on behalf of Consol Energy. The Akin Gump team also included partners William H. Church Jr., Lisa S. Gallerano, Paul E. Gutermann, Joseph L. Motes III, Bruce Simonetti, W. Thomas Weir and Mark Zvonkovic; senior counsel Mark T. Mitchell and Vera C. Neinast; counsel Austin S. Lilling; and associates Fredricka S. Dorroh, Alexandra I. Reuss, Elizabeth M. Scott, Daniel Z. Vira and Helena E. Wolin.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP, a leading international law firm, numbers more than 800 lawyers in the United States, Europe, Asia and the Middle East.
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