As filed with the Securities and Exchange Commission on August 4, 2011.November 20, 2015

Registration No. 333-          

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FormFORM S-4

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

CONSOL Energy Inc.ENERGY INC.

(Exact name of registrantRegistrant as specified in its charter)

 

Delaware 1221 51-0337383

(State or other jurisdiction of

incorporation or organization)

 

(Primary Standard Industrial

Classification Code Number)

 

(I. R. S.IRS Employer

Identification No.)Number)

See Table Of Additional Registrants Below

P. Jerome Richey

Executive Vice President—Corporate Affairs,

Chief Legal Officer and Secretary

CONSOL Energy Inc.

CNX Center

1000 CONSOL Energy Drive

Canonsburg, PAPennsylvania 15317

724-485-4000(724) 485-4000

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

 

Stephen W. Johnson

Executive Vice President and Chief Administrative Officer

CONSOL Energy Inc.

1000 CONSOL Energy Drive

Canonsburg, Pennsylvania 15317

(724) 485-4000

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

CopiesCopy to:

Buchanan IngersollDavid J. Miller

Latham & Rooney PCWatkins LLP

Lewis U. Davis, Jr.811 Main Street, Suite 3700

One Oxford Centre, 20th FloorHouston, Texas 77002

301 Grant Street(713) 546-5400

Pittsburgh, PA 15219

(412) 562-8800

 

Approximate date of commencement of proposed sale of the securities to the publicpublic:: As soon as practicable after the effective date of this registration statement becomes effective.Registration Statement.

If the securities being registered on this Form are being offered in connection with the formation of a holding company and there is compliance with General Instruction G, check the following box.  ¨

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ¨

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer þx  Accelerated filer ¨
Non-accelerated filer ¨  (Do not check if a smaller reporting company)  Smaller reporting company ¨

If applicable, place an X in the box to designate the appropriate rule provision relied upon in conducting this transaction:

Exchange Act Rule 13e-4(i) (Cross-Border Issuer Tender Offer)  ¨

Exchange Act Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)  ¨

 


CALCULATION OF REGISTRATION FEE

 

Title of Each Class of
Securities to be Registered
 

Amount

to be
Registered

 

Proposed
Maximum Offering

Price per Unit

 

Proposed
MaximumAggregate

Offering Price (1)

 

Amount of

Registration Fee (3)

 

Amount

to be

Registered

 

Proposed

Offering Price

Per Note(1)

 

Proposed

Maximum

Aggregate

Offering Price(1)

 Amount of
Registration Fee

6.375% Senior Notes Due 2021

 $250,000,000 100% $250,000,000 $29,025

Guarantees of 6.375% Senior Notes Due 2021 (2)

        

8.000% Senior Notes due 2023

 $500,000,000 100% $500,000,000 $50,350

Guarantees of 8.000% Senior Notes due 2023(2)

 —   —   —   —  

Total

 $250,000,000   $250,000,000 $29,025 $500,000,000 —   $500,000,000 $50,350

(1)Estimated solely for the purposepurposes of calculating the registration fee pursuant to Rule 457(f) underof the Securities Act of 1933, as amended.amended (the “Securities Act”).
(2)Guarantees issued by those directNo separate consideration will be received for the guarantees, and indirect subsidiaries of Consol Energy Inc. listed on the following page under the caption “Table of Additional Registrants.” Pursuant to Rule 457(n) under the Securities Act, no additional registrationseparate fee is payable with respectpursuant to the guarantees.
(3)$116.10 per millionRule 457(a) of the Proposed Maximum Aggregate Offering Price pursuant to Section 6(b) ofrules and regulations under the Securities Act.
*The companies listed in the Table of Additional Registrant Guarantors on the next page are also included in this registration statement as additional registrants.

 

The Registrantsregistrants hereby amend this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrantsregistrants shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act, of 1933, as amended, or until the Registration Statement shall become effective on such date as the Securities and Exchange Commission,SEC, acting pursuant to said Section 8(a), may determine.


TABLE OF ADDITIONAL REGISTRANTSREGISTRANT GUARANTORS

The following are additional registrants that will guarantee the debt securities registered hereby:

 

Exact Name of Additional Registrant Guarantor as Specified in its Charter(1)

  State or Other
Jurisdiction of

Incorporation or
Organization
  I.R.S I.R.S.
Employer
Identification #
Number

AMVEST Coal & Rail, L.L.C.

  Virginia  54-0696869

AMVEST Coal Sales, Inc.

  Virginia  54-1135822

AMVEST Corporation

  Virginia  54-0696869

AMVEST Gas Resources, Inc.

  Virginia  20-1072935

AMVEST Mineral Services, Inc.

  Virginia  54-1560754

AMVEST Minerals Company, L.L.C.

  Virginia  54-0696869

AMVEST Oil & Gas, Inc.

  Virginia  54-1162979

AMVEST West Virginia Coal, L.L.C.

  West Virginia  54-1860378

Braxton-Clay Land & Mineral, Inc.

  West Virginia  43-1948819

Cardinal States Gathering Company

  Virginia  73-1394037

Central Ohio Coal Company

  Ohio31-4356096

CNX Gas Company LLC

  Virginia  31-1782401

CNX Gas Corporation

  Delaware  20-3170639

CNX Land Resources Inc.  LLC

  Delaware  25-187185146-4117542

CNX Marine Terminals Inc.

  Delaware  25-1385259

CNX Water AssetsRCPC LLC (f/k/a CONSOL of WV LLC)

  West VirginiaDelaware  20-247123551-0337383

Coalfield Pipeline Company

  Tennessee  03-0455546

Conrhein Coal Company

  Pennsylvania  25-1406541

CONSOL Energy Holdings LLC VI

  Delaware  27-2130445

CONSOL Energy Sales Company

  Delaware  25-1670342

CONSOL Financial Inc.

  Delaware  51-0395375

CONSOL Mining Company LLC

Delaware46-4011126

CONSOL Mining Holding Company LLC

Delaware46-4003532

CONSOL of Canada Inc.

  Delaware  98-0013773

CONSOL of Central Pennsylvania LLC

  Pennsylvania  20-5105698

CONSOL of Kentucky Inc.

  Delaware  94-2524120

CONSOL of Ohio LLC

  Ohio  20-8338255

CONSOL of WyomingCNX Water Assets LLC

  DelawareWest Virginia  20-877972220-2471235

Consol Pennsylvania Coal Company LLC

  Delaware  20-8732852

Consolidation Coal Company

  Delaware13-2566594

Eighty-Four Mining Company

Pennsylvania25-1695903

Fola Coal Company, L.L.C.

  West Virginia  54-1860378

Glamorgan Coal Company, L.L.C.

  Virginia  54-0696869

Helvetia Coal Company

  Pennsylvania  25-1180531

Island Creek Coal Company

  Delaware  55-0479426

Keystone Coal Mining CorporationCONSOL Amonate Facility LLC

  PennsylvaniaDelaware  25-132382246-4020820

CONSOL Amonate Mining Company LLC

Delaware46-3990422

CONSOL Buchanan Mining Company LLC

Delaware46-3984406

Knox Energy, LLC

  Tennessee  62-1866097

Laurel Run Mining Company

  Virginia  54-0892422

Leatherwood, Inc.

  Pennsylvania  25-1604505

Little Eagle Coal Company, L.L.C.

  West Virginia  22-3864739

McElroy Coal Company

  Delaware25-1553551

MOB Corporation

  Pennsylvania  25-1211093

Mon River Towing, Inc.  

  Pennsylvania25-1087222

MTB Inc.

  Delaware  25-1674211

Nicholas-Clay Land & Mineral, Inc.

  Virginia  55-0719265

Panda Bamboo Holdings, Inc.

Delaware46-3396253

Paros Corp.

Delaware46-3400629

Peters Creek Mineral Services, Inc.

  Virginia  54-1536678

Reserve Coal Properties Company

Delaware25-1582519

Rochester & Pittsburgh Coal CompanyR&PCC LLC

  Pennsylvania  25-0761480

Southern Ohio Coal Company

46-4003532West Virginia55-0403282** 

TEAGLE Company, L.L.C.

  Virginia  54-0696869


Exact Name of Registrant Guarantor as Specified in its Charter(1)

State or Other
Jurisdiction of
Incorporation or
Organization
I.R.S.
Employer
Identification
Number

TECPART Corporation

  Delaware  13-3038238

Terra Firma Company

  West Virginia  20-0869908


Exact Name of Additional Registrant

20-0869908
  Jurisdiction of
Organization
I.R.S Employer
Identification #

Terry Eagle Coal Company, L.L.C.

  West Virginia  54-1860378

Terry Eagle Limited Partnership

  West Virginia  31-0995566

Twin Rivers Towing Company

  Delaware25-1181155

Vaughn Railroad Company

  West Virginia  55-0725216

Windsor Coal Company

  West Virginia  13-5488703

Wolfpen Knob Development Company

  Virginia  25-1391218

Each additional registrant is a direct or indirect subsidiary of CONSOL Energy Inc. The address and telephone number of each additional registrant’s principal office is c/o CONSOL Energy Inc., 1000 CONSOL Energy Drive, Canonsburg, PA 15317, telephone (724) 485-4000. The name, address and telephone number of the agent for service for each additional registrant is P. Jerome Richey, Executive Vice President—Corporate Affairs and Chief Legal Officer and Corporate Secretary, CONSOL Energy Inc., 1000 CONSOL Energy Drive, Canonsburg, PA 15317, telephone (724) 485-4000.

(1)Each additional registrant is a direct or indirect subsidiary of CONSOL Energy Inc. The address, including zip code, and telephone number, including area code, of each of the additional registrant guarantor’s principal office is c/o CONSOL Energy Inc., 1000 CONSOL Energy Drive, Canonsburg, PA 15317, telephone (724) 485-4000. The name, address, including zip code, and telephone number, including area code, of the agent for service for each of the additional registrant guarantors is Stephen W. Johnson, Executive Vice President and Chief Administrative Officer, CONSOL Energy Inc., 1000 CONSOL Energy Drive, Canonsburg, PA 15317, telephone (724) 485-4000.
*Uses its sole member’s EIN (CONSOL Energy Inc.).
**Uses its sole member’s EIN (CONSOL Mining Holdings Company LLC).


The information in this preliminary prospectus is not complete and may be changed. We may not sell thesethe securities described herein until the registration statement filed with the Securities and Exchange Commission is declared effective. This preliminary prospectus is not an offer to sell thesethe securities described herein and it is not soliciting an offer to buy thesesuch securities in any statejurisdiction where the offer or salesuch declared offering is not permitted.

 

SUBJECT TO COMPLETION, DATED August 4, 2011NOVEMBER 20, 2015

PRELIMINARY PROSPECTUS

Consol

LOGO

CONSOL Energy Inc.

Offer to Exchange

$250,000,000Up to $500,000,000 of

8.000% Senior Notes due 2023 (CUSIP Nos. 20854P AM1 and U20892 AF9)

that Have Not Been Registered Under

the Securities Act of 1933, as amended

for

Up to $500,000,000 of

8.000% Senior Notes due 2023

that Have Been Registered Under

the Securities Act of 1933, as amended

The exchange offer and related withdrawal rights will expire at 5:00 p.m., New York City time, on                     , unless extended.

We are offering to exchange (the “exchange offer”) up to $500 million aggregate principal amount of 6.375%our new 8.000% Senior Notes Due 2021

for

$250,000,000 aggregate principal amount of 6.375% Senior Notes Due 2021

thatdue 2023, which have been registered under the Securities Act of 1933, as amended

The exchange offer will expire at 5:00 p.m.,

New York City time, on                      (the “Securities Act”), 2011, unless earlier terminated or extended.

CONSOL Energy Inc. hereby offers, upon the terms and subjectwhich we refer to the conditions set forth in this prospectus (which constituteas the “exchange offer”), to exchange up to $250,000,000 aggregate principal amount“new notes,” for any and all of its registered 6.375%our outstanding unregistered 8.000% Senior Notes due 2021, which it refers to as the “exchange notes,” for a like principal amount of its outstanding 6.375% Senior Notes due 2021, which it refers to as the “original notes.” The term “note” or “notes” in this prospectus refers collectively to the original notes and the exchange notes.

The terms of the exchange notes are substantially identical to the terms of the original notes in all material respects, except that the exchange notes are registered under the Securities Act of 1933, as amended, which is2023, referred to in this prospectus as the “old notes.” We issued the old notes on March 30, 2015 in a transaction not requiring registration under the Securities Act,Act. We are offering you new notes in exchange for old notes in order to satisfy our registration obligations agreed to in connection with such transaction. The old notes and the transfer restrictions, registration rights and additional interest provisions applicablenew notes are collectively referred to the original notes do not apply to the exchange notes.

The exchange notes will be fully and unconditionally guaranteed by substantially all of our existing and future wholly-owned domestic subsidiaries.

The principal features of the exchange offer are as follows:

The exchange offer is subject to certain conditions described in this prospectus including that no injunction, order or decree has been issued which would prohibit, prevent or materially impair our ability to proceed withas the “notes,” and they will be treated as a single class under the indenture governing them.

Please read “Risk Factors” beginning on page 8 for a discussion of factors you should consider before participating in the exchange offer.

All originalWe will exchange new notes for all outstanding old notes that are validly tendered and not validly withdrawn will be exchanged.

Tendersbefore expiration of originalthe exchange offer. You may withdraw tenders of old notes may be withdrawn at any time prior to the expiration of the exchange offer. The procedures related to this exchange are more fully described in “Exchange Offer—Procedures for Tendering.” If you fail to tender your old notes, you will continue to hold unregistered notes that you will not be able to transfer freely.

Neither CONSOL Energy norThe terms of the new notes are substantially identical to the terms of the old notes, except that the transfer restrictions, registration rights and provisions for additional interest relating to the old note do not apply to the new notes. Please read “Description of New Notes” for more details on the terms of the new notes. We will not receive any subsidiary guarantor will receive anycash proceeds from the exchange offer.

CONSOL Energy does not intend to apply for listingissuance of the new notes on any securities exchange or for inclusion of the notes in any automated quotation system.

You should consider carefully the “Risk Factors” beginning on page 10 of this prospectus before participating in the exchange offer.

Each broker-dealer that receives exchangenew notes for its own account in the exchange offerpursuant to this offering must acknowledge that it will deliver athis prospectus in connection with any resale of such exchangenew notes. The letter of transmittal states that by so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the Securities Act. This prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of exchangenew notes received in exchange for originalold notes where such originalold notes were acquired by such broker-dealer as a result of market-making activities or other trading activities. CONSOL Energy and the subsidiary guarantorsWe have agreed that, starting onfor a period of up to 180 days after the expirationexchange date (as defined herein) and ending on the close of business one year after the expiration date, theysuch period may be extended), we will make this prospectus, as amended or supplemented, available to any broker-dealer for use in connection with any such resale. SeePlease read “Plan of Distribution.”

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracydetermined if this prospectus is truthful or adequacy of this prospectus.complete. Any representation to the contrary is a criminal offense.

The date of this prospectus is                     , 2011.2015


This prospectus is part of a registration statement we filed with the Securities and Exchange Commission. In making your investment decision, you should rely only on the information contained or incorporated by reference in this prospectus and in the accompanying letter of transmittal. We have not authorized anyone to provide you with any other information. If you receive any unauthorized information, you must not rely on it. We are not making an offer to sell these securities or soliciting an offer to buy these securities in any jurisdiction where an offer or solicitation is not authorized or in which the person making that offer or solicitation is not qualified to do so or to anyone whom it is unlawful to make an offer or solicitation. You should not assume that the information contained in this prospectus, as well as the information we previously filed with the Securities and Exchange Commission that is incorporated by reference herein, is accurate as of any date other than its respective date.

TABLE OF CONTENTS

 

   Page 

INDUSTRY AND MARKET DATAFORWARD-LOOKING STATEMENTS

   ii  

FORWARD-LOOKING STATEMENTS

iii

PROSPECTUS SUMMARY

   1  

RISK FACTORS

   108  

USE OF PROCEEDS

14

RATIO OF EARNINGS TO COMBINED FIXED CHARGES

14

SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA

   15  

DESCRIPTIONRATIO OF CERTAIN INDEBTEDNESSEARNINGS TO FIXED CHARGES

16

SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA

17

EXCHANGE OFFER

   18  

THE EXCHANGE OFFERDESCRIPTION OF OTHER INDEBTEDNESS

   2325  

DESCRIPTION OF EXCHANGENEW NOTES

   3128  

MATERIAL UNITED STATES FEDERAL INCOME TAX CONSEQUENCES

   7485  

PLAN OF DISTRIBUTION

   7687  

LEGAL MATTERS

   7789  

EXPERTS

   7789  

WHERE YOU CAN FIND MORE INFORMATIONINFORMATION; INCORPORATION BY REFERENCE

   7889

ANNEX A: LETTER OF TRANSMITTAL

A-1  

The information contained in this prospectus speaks only as of the date of this prospectus unless the information specifically indicates that another date applies. No person has been authorized to give any information or to make any representations other than those contained in this prospectus in connection with the offer contained herein and, if given or made, such information or representations must not be relied upon as having been authorized by us. Neither the delivery of this prospectus nor any sale made hereunder shall under any circumstances create an implication that there has been no change in our affairs or that of our subsidiaries since the date hereof.

This prospectus incorporates important business and financial information about CONSOL Energy and the subsidiary guarantorsus that is not included in or delivered with this prospectus. CONSOL Energy will provideSuch information is available without charge to each person, including any beneficial owner, to whom a copyholders of this prospectus is delivered,the old notes upon the written or oral request of such person, a copy of any or all of the information incorporated by reference in this prospectus, other than exhibits to such information (unless such exhibits are specifically incorporated by reference into the information that this prospectus incorporates). Requests for such copies should be directedmade to CONSOL Energy Inc., CNX Center 1000 CONSOL Energy Drive, Canonsburg, PA 15317-6506, Attn. General Counsel.15317, Attention: Stephen W. Johnson, Telephone: (724) 485-4000. To obtain timely delivery youof any requested information, holders of the old notes must make any request the information no later than five business days before                     , 2011,prior to the expiration date of the exchange offer.

The notes initially will be represented by permanent global certificates in fully registered form without couponsUnless otherwise indicated, references to “CONSOL Energy,” refer to CONSOL Energy Inc. References to “we,” “us,” “our” and will be deposited withthe “Company” refer to CONSOL Energy Inc. and its consolidated subsidiaries. References to “CNX Gas” refer to CNX Gas Corporation, a custodian for, and registered in the namewholly owned subsidiary of a nominee of The Depository Trust Company, New York, New York, or DTC, as depositary.CONSOL Energy.

 

i


INDUSTRY AND MARKET DATA

We obtained the market and competitive position data incorporated by reference into this prospectus from our own research, surveys or studies conducted by third parties and industry or general publications. Industry publications and surveys generally state that they have obtained information from sources believed to be reliable, but do not guarantee the accuracy and completeness of such information. While we believe that each of these studies and publications is reliable, we have not independently verified such data, and we make no representation as to the accuracy of such information. Similarly, we believe our internal research is reliable, but it has not been verified by any independent sources. Market and competitive position data involve risks and uncertainties and are subject to change based on various factors, including those discussed under the caption “Risk Factors” in this prospectus.

ii


FORWARD-LOOKING STATEMENTS

With the exception of historical matters, the matters discussed in this prospectus and the documents incorporated by reference herein are forward-looking statements (as defined in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) that involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our future production, revenues, income and capital spending. When we use the words “believe,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “estimate,” “plan,” “predict,” “project,” or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this prospectus and the documents incorporated by reference herein speak only as of the date of this prospectus; we disclaim any obligation to update these statements unless required by securities law, and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our management considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks, contingencies and uncertainties relate to, among other matters, the following:

 

deterioration in economic conditions in any of the industries in which our customers operate, or sustained uncertainty in financial markets cause conditions we cannot predict;

operate;

 

prices for gas, natural gas liquids and coal are volatile and can fluctuate widely based upon a number of factors beyond our control including oversupply relative to the demand available for our products, weather and the price and availability of alternative fuels;

an extended decline in the prices we receive for our gas, natural gas liquids and coal including the impact on gas prices of our gas operations being concentrated in Appalachia which has experienced a dramatic increase in gas production and decline in gas affecting our operating results and cash flows;

pricing relative to the benchmark Henry Hub prices;

 

foreign currency fluctuations could adversely affect the competitiveness of coal abroad;

our customers extending existing contracts or entering into new long-term contracts for coal;

 

our reliance on major customers;

 

our inability to collect payments from customers if their creditworthiness declines;

 

the disruption of rail, barge, gathering, processing and transportation facilities and other systems that deliver our coalgas and gascoal to market;

 

a loss of our competitive position because of the competitive nature of the coalgas and gascoal industries, or a loss of our competitive position because of overcapacity in these industries impairing our profitability;

 

our ability to negotiate a new agreement with the United Mine Workers of America and our inability to maintain satisfactory labor relations;

coal users switching to other fuels in order to comply with various environmental standards related to coal combustion emissions;

 

the impact of potential, as well as any adopted regulations relating to greenhouse gas emissions on the demand for coalgas and natural gas, as well as the impact of any adopted regulations on our coal mining operations due to the venting of coalbed methane which occurs during mining;

coal;

 

foreign currency fluctuations could adversely affect the competitiveness of our coal abroad;

the risks inherent in gas and coal and gas operations, including our reliance upon third party contractors, being subject to unexpected disruptions, including geological conditions, equipment failure, timing of completion of significant construction or repair of equipment, fires, explosions, accidents and weather conditions which could impact financial results;

 

our focus on new gas development projects and exploration for gas in areas where we have little or no proven gas reserves;

decreases in the availability of, or increases in, the price of commodities and servicesor capital equipment used in our mining and gas operations, as well as our exposure under “take or pay” contracts we entered into with well service providers to obtain services which, if not used, could impact our cost of production;

operations;

 

iii


obtaining and renewing governmental permits and approvals for our gas and coal and gas operations;

 

ii


the effects of government regulation on the discharge into the water or air, and the disposal and clean-up of, hazardous substances and wastes generated during our gas and coal and gas operations;

 

our ability to find adequate water sources for our use in gas drilling, or our ability to dispose of water used or removed from strata in connection with our gas operations at a reasonable cost and within applicable environmental rules;

the effects of stringent federal and state employee health and safety regulations, including the ability of regulators to shut down a mine or well;

mine;

 

the potential for liabilities arising from environmental contamination or alleged environmental contamination in connection with our past or current gas and coal and gas operations;

 

the effects of mine closing, reclamation, gas well closing and certain other liabilities;

 

uncertainties in estimating our economically recoverable gas, oil and coal and gas reserves;

 

defects may exist in our chain of title and we may incur additional costs associated with perfecting title for coal or gas rights on some of our properties;

properties or failing to acquire these additional rights may result in a reduction of our estimated reserves;

 

the outcomes of various legal proceedings, which are more fully described in our reports filed under the Securities Exchange Act of 1934;

Act;

 

the impacts of various asbestos litigation claims;

increased exposure to employee relatedemployee-related long-term liabilities;

 

increased exposure to multi-employer pension plan liabilities;

minimum funding requirements by the Pension Protection Act of 2006 (the Pension Act) coupled with the significant investment and plan asset losses suffered during the recent economic decline has exposed us to making additional required cash contributions to fund the pension benefit plans which we sponsor and the multi-employer pension benefit plans in which we participate;

lump sum payments made to retiring salaried employees pursuant to our defined benefit pension plan exceeding total service and interest cost in a plan year;

 

acquisitions that we recently have completed or may make in the future including the accuracy of our assessment of the acquired businesses and their risks, achieving any anticipated synergies, integrating the acquisitions and unanticipated changes that could affect assumptions we may have made and asset monetization transactions, including sales of additional interests in our thermal coal or other assets to CNX Coal Resources LP and divestitures to third parties we anticipate may not occur or produce anticipated proceeds;

 

the anti-takeover effectsterms of our rights planexisting joint ventures restrict our flexibility, actions taken by the other party in our gas joint ventures may impact our financial position and various circumstances could prevent a change of control;

cause us not to realize the benefits we anticipate receiving from these joint ventures;

 

increased exposure onrisks associated with our financial performance due to the degree we are leveraged;

debt;

 

replacing our natural gas and oil reserves, which if not replaced, will cause our gas and oil reserves and gas production to decline;

 

our ability to acquire water supplies needed for gas drilling, or our ability to dispose of water used or removed from strata in connection with our gas operations at a reasonable cost and within applicable environmental rules;

our hedging activities may prevent us from benefiting from price increases and may expose us to other risks;

 

changes in federal or state income tax laws, particularly in the area of percentage depletion and intangible drilling costs, could cause our financial position and profitability to deteriorate;

failure to appropriately allocate capital and other resources among our strategic opportunities may adversely affect our financial condition;

failure by Murray Energy to satisfy liabilities it acquired from us, or failure to perform its obligations under various arrangements, which we guaranteed, could materially or adversely affect our results of operations, financial position, and cash flows;

information theft, data corruption, operational disruption and/or financial loss resulting from a terrorist attack or cyber incident;

operating in a single geographic area; and

iii


other factors discussed under the caption “Risk Factors” herein and in our Annual Report on Form10-K for the year ended December 31, 2014 and our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2015, June 30, 2015 and September 30, 2015, which are incorporated herein by reference.

Developments in any of these areas could cause actual results to differ materially from those anticipated or projected or cause a significant reduction in the market price of our common stock or notes.

The foregoing list of risks and uncertainties may not contain all of the risks and uncertainties that could affect us. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements in this prospectus.prospectus may not in fact occur. Accordingly, undue reliance should not be placed on these statements. We undertake no obligation to publicly update or revise any forward-looking statements as a result of new information, future events or otherwise, except as otherwise provided by law.

 

iv


PROSPECTUS SUMMARY

Except as otherwise indicated, in this prospectus, “CONSOL Energy,” “the company,” “we,” “us” and “our” refer to CONSOL Energy Inc. and its consolidated subsidiaries. This summary highlights selectedprovides a brief overview of information contained elsewhere in this prospectusincluded or incorporated by reference intoin this prospectus. ThisBecause it is abbreviated, this summary maydoes not contain all of the information that you should consider before exchanging any ofinvesting in the notes. You should read the entire prospectus carefully, including the section entitled “Risk Factors” in this prospectus and in our Annual Report on Form 10-K for the fiscal year ended December 31, 20102014 and our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2011 and2015, June 30, 2011,2015 and September 30, 2015, which are incorporated herein by reference, before making a decision to exchange the originalold notes for exchangenew notes.

BusinessUnless otherwise indicated, references to “CONSOL Energy,” refer to CONSOL Energy Inc. References to “we,” “us,” “our” and the “Company” refer to CONSOL Energy Inc. and its consolidated subsidiaries. References to “CNX Gas” refer to CNX Gas Corporation, a wholly owned subsidiary of CONSOL Energy.

Company Overview

We are a multi-fuelan integrated energy producercompany operating through two primary divisions, oil and energy services provider primarily serving the electric power generation industry in the United States. We produce high-Btu thermal coal used in the electric power generation industry, high quality metallurgical coal used in steelmaking, and pipeline-quality natural gas from our coalbed methane (“CBM”), unconventional shale,exploration and conventionalproduction (our “E&P division”) and coal mining (our “coal division”). Our E&P division is focused on Appalachian area natural gas operations.

We operate two principal business units: coal and gas. Our coal operations include the mining, preparation,liquids activities, including production, gathering, processing and marketing of thermal coal and metallurgical coal and are comprised of four reportable segments: steam coal, high volatile metallurgical, low volatile metallurgical and other coal. For 2010, we produced approximately 62 million tons of coal, which accounted for approximately 6% of the total tons produced in the United States and approximately 14% of the total tons produced east of the Mississippi River. We are one of the largest producersacquisition of natural gas properties in the Appalachian Basin. Our coal division is focused on the extraction and preparation of coal, also in the Appalachian Basin.

We were incorporated in Delaware in 1991, but our predecessors have been mining coal, primarily in the Appalachian Basin, since 1864. We entered the natural gas operations, which we operate through a wholly-owned subsidiary called CNX Gas Corporation, are comprisedbusiness in the 1980s initially to increase the safety and efficiency of four reportable segments: CBM, conventional,our coal mines by capturing methane from coal seams prior to mining. Over the past ten years, our natural gas production has grown by approximately 330% to produce 235.7 net billion cubic feet of natural gas equivalent in 2014. Our E&P business has grown from coalbed methane production in Virginia into other unconventional production, such as the Marcellus Shale and other gas. During 2010, we produced 127.9 BcfeUtica Shale, in the Appalachian Basin.

Our E&P division operates, develops and explores for natural gas primarily in Appalachia (Pennsylvania, West Virginia, Virginia, Ohio and Tennessee). Currently, our primary focus is the continued development of our Marcellus Shale acreage and the exploration and development of our Utica Shale acreage. We believe that our concentrated operating area, legacy surface acreage position, regional operating expertise, geological logs from nearly 100 years of shallow oil and natural gas.gas drilling activity in the region, held by production acreage position, and ability to coordinate natural gas drilling with coal mining activity collectively give us a significant operating advantage over our competitors.

For a further discussion of our business, we urge you to read our Annual Report on Form 10-K for the fiscal year ended December 31, 2010.2014 and our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2015, June 30, 2015 and September 30, 2015. See “Where You Can Find More“—Additional Information.”

Additional Information

CONSOL Energy was organized as a Delaware corporation in 1991. The address of ourOur principal executive offices isare located at CNX Center, 1000 CONSOL Energy Drive, Canonsburg, PA 15317-6505, and our telephone number at our principal executive offices is 724-485-4000. Our website is located at www.consolenergy.com. Information on our website or any other website is not incorporated by reference herein and does not constitute a part of this prospectus.

We make available our periodic reports and other information filed with or furnished to the Securities and Exchange Commission (the “SEC”), free of charge through our website, as soon as reasonably practicable after those reports and other information are electronically filed with or furnished to the SEC.

 



Summary of theThe Exchange Offer

On March 9, 2011,30, 2015, we completed thea private placementoffering of original notes in the$500 million aggregate principal amount of $250,000,000.our 8.000% Senior Notes due 2023 to qualified institutional buyers under Rule 144A of the Securities Act (“Rule 144A”) and non-U.S. persons outside the United States under Regulation S under the Securities Act (“Regulation S”). We refer to these notes in this prospectus as the “old notes.” As part of that private offering, we entered into a registration rights agreement with the initial purchasers of the originalold notes dated as of March 9, 2011, referred to in this prospectus as the registration rights agreement, in which we agreed, among other things, to deliver this prospectus to you and to use our commercially reasonable efforts to complete anthe exchange offer for the original notes. Belowon or prior to May 3, 2016. The following is a summary of the exchange offer.

 

Old notes

On March 30, 2015 we issued $500 million aggregate principal amount of 8.000% Senior Notes due 2023.

New notes

8.000% Senior Notes due 2023.

The terms of the new notes are substantially identical to the terms of the old notes, except that the transfer restrictions, registration rights and provisions for additional interest relating to the old notes do not apply to the new notes. The new notes offered hereby, together with any old notes that remain outstanding after the completion of the exchange offer, will be treated as a single class for all purposes under the indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase. The new notes will have a CUSIP number different from that of any old notes that remain outstanding after the completion of the exchange offer.

Exchange Offersoffer

We are offering to exchange any and allup to $500 million aggregate principal amount of our 6.375%new 8.000% Senior Notes due 2021, all of which2023 that have been registered under the Securities Act for any and allan equal amount of our outstanding unregistered 6.375%8.000% Senior Notes due 20212023 that were issued on March 9, 2011. Ashave not been so registered to satisfy our obligations under the registration rights agreement that we entered into in connection with the issuance of the date of this prospectus, there are $250,000,000 aggregate principal amount of original notes outstanding. The form and terms of these exchange notes are identical in all material respects to those of the original notes except that the exchange notes are registered under the Securities Act and the transfer restrictions, registration rights and additional interest provisions applicable to the original notes do not apply to the exchangeold notes. The original notes were offered under an indenture dated as of March 9, 2011, which we refer to herein as the indenture.

 

Expiration Datedate

The exchange offer will expire at 5:00 p.m., New York City time, on                     [                    ], 2010,(the “expiration date”) unless we earlier terminate ordecide to extend the exchange offer in our sole discretion. The exchange offer will be open for a minimum of 30 days per the terms of the registration rights agreement.

Tenders

In order to be exchanged, an original note must be properly tendered and accepted. All original notes that are validly tendered and not withdrawn prior to 5:00 p.m., New York City time, on the expiration date of the exchange offer will be exchanged. By tendering your original notes, you represent that:

you are neither an “affiliate” (as defined in Rule 405 under the Securities Act) of CONSOL Energy nor a broker-dealer tendering notes acquired directly from us for our own account;

any exchange notes you receive in the exchange offer are being acquired by you in the ordinary course of business;

at the time of commencement of the exchange offer, neither you nor, to your knowledge, anyone receiving exchange notes from you, has any arrangement or understanding with any person to participate in the distribution, as defined in the Securities Act, of the original notes or the exchange notes in violation of the Securities Act;

if you are not a participating broker-dealer, you are not engaged in, and do not intend to engage in, the distribution, as defined in the Securities Act, of the original notes or the exchange notes; and

if you are a broker-dealer, you will receive the exchange notes for your own account in exchange for the original notes that you

acquired as a result of your market-making or other trading activities and you will deliver a prospectus in connection with any resale of the exchange notes that you receive. For further information regarding resales of the exchange notes by participating broker-dealers, see the discussion under the caption “Plan of Distribution.”

Accrued Interest

The exchange notes will bear interest from the most recent date to which interest has been paid on the original notes. If your original notes are accepted for exchange, you will receive interest on the exchange notes and not on the original notes. Any original notes not tendered will remain outstanding and continue to accrue interest according to their terms.such deadline.

 

Conditions to the Exchange Offerexchange offer

The registration rights agreement does not require us to accept old notes for exchange if the exchange offer, or the making of any exchange by a holder of the old notes, would violate any applicable law or policy of the SEC. The exchange offer is subject to customary conditions. We may assert or waive these conditions in our sole discretion. See “The Exchangenot conditioned on a minimum aggregate principal amount of old notes being tendered. Please read “Exchange Offer—Conditions to the Exchange Offer” for more information regardingabout the conditions to the exchange offer.

 

Procedures for Tendering Original Notestendering old notes

A

All of the old notes are held in book-entry form through the facilities of The Depository Trust Company (“DTC”). To participate in the exchange offer, you must follow the automatic tender offer program (“ATOP”) procedures established by DTC for tendering holder must, on ornotes held in



book-entry form. The ATOP procedures require that (i) the exchange agent receive, prior to the expiration date, of the exchange offer, in the case of originala computer generated message known as an “agent’s message” that is transmitted through ATOP, and (ii) DTC confirm that:

DTC has received your instructions to exchange your old notes, and

you agree to be bound by the terms of the letter of transmittal included as Annex A hereto.

For more information on tendering your old notes, held in the form of book-entry interests, transmit an agent’s messageplease refer to the exchange agent at the address listedsections in this prospectus or inentitled “Exchange Offer—Terms of the case of holders of certificated notes, transmit a properly completed and duly executed letter of transmittal together with the certificates representing the original notes to the exchange agent. See “The Exchange Offer,” “Exchange Offer—Procedures for Tendering.”

Special Procedures for Beneficial Holders

If you are a beneficial holderTendering” and “Description of original notes that are registered in the name of your broker, dealer, commercial bank, trust company or other nominee,New Notes—Book-Entry, Delivery and you wish to tender in the exchange offer, you should promptly contact the person in whose name your original notes are registered and instruct that person to tender on your behalf. See “The Exchange Offer—Procedures for Tendering.Form.

 

Guaranteed Delivery Proceduresdelivery procedures

You must comply with the applicable guaranteed delivery procedures for tendering if you wish to tender your original notes and:None.

your original notes are not immediately available;

time will not permit your required documents to reach the exchange agent prior to 5:00 p.m., New York City time, on the expiration date of the exchange offer; or

you cannot complete the procedures for delivery by book-entry transfer prior to 5:00 p.m., New York City time, on the expiration date of the exchange offer.

 

Withdrawal Rightsof tenders

TendersYou may be withdrawnwithdraw your tender of old notes at any time prior to the expiration date. To withdraw, you must submit a notice of withdrawal to the exchange agent using ATOP procedures before 5:00 p.m., New York City time, on the expiration datedate. Please read “Exchange Offer—Withdrawal of the exchange offer.Tenders.”

 

Acceptance of Original Notesold notes and Deliverydelivery of Exchange Notesnew notes

Subject to theIf you fulfill all conditions stated in the section “The Exchange Offer—Conditions to the Exchange Offer”required for proper acceptance of this prospectus,old notes, we will accept for exchange any and all originalold notes which arethat you properly tenderedtender in the exchange offer on or before 5:00 p.m., New York City time, on the expiration date of thedate. We will return any old notes that we do not accept for exchange offer. The exchange notes will be deliveredto you without expense promptly after the expiration date ofdate. Please refer to the exchange offer. See “The Exchangesection in this prospectus entitled “Exchange Offer—Terms of the Exchange Offer.”

 

Regulatory ApprovalsFees and expenses

Other than the federal securities laws, there are no federal or state regulatory requirements that we must comply with and there are no approvals that we must obtain in connection withWe will bear all expenses related to the exchange offer. Please read “Exchange Offer—Fees and Expenses.”

 

Material United States Federal Tax ConsequencesUse of proceeds

Your exchangeWe will not receive any proceeds from the issuance of original notes for exchange notes pursuant tothe new notes. We are making the exchange offer generallysolely to satisfy our obligations under the registration rights agreement.

Consequences of failure to exchange old notes

If you do not exchange your old notes in the exchange offer, you will no longer be able to require us to register the old notes under the Securities Act, except in limited circumstances provided under the registration rights agreement. In addition, you will not be able to resell, offer to resell or otherwise transfer the old notes unless we have registered the old notes under the Securities Act, or unless you resell, offer to resell or otherwise transfer them under an exemption from the registration requirements of, or in a transaction not subject to, the Securities Act.



In addition, after the consummation of the exchange offer, it is anticipated that the outstanding principal amount of the old notes available for trading will be significantly reduced. This reduced float may adversely affect the liquidity and market price of the old notes. A smaller outstanding principal amount of old notes available for trading may make the prices of old notes more volatile.

U.S. federal income tax consequences

The exchange of old notes for new notes in the exchange offer will not be a taxable event for U.S. federal income tax purposes. SeePlease read “Material United States Federal Income Tax Consequences.”

 

Exchange Agentagent

TheWe have appointed Wells Fargo Bank, of Nova Scotia Trust Company of New York is servingNational Association as exchange agent in connection withfor the exchange offer. The addressYou should direct questions and telephone numberrequests for assistance, requests for additional copies of this prospectus or the letter of transmittal to the exchange agent are listed under the heading “The Exchange Offer—Exchange Agent.”

Use of Proceeds

We will not receive any proceeds from the issuance of exchange notes in the exchange offer. We have agreed to pay all expenses incidental to the exchange offer other than commissionsaddressed as follows: By registered and concessions of any brokercertified mail: Wells Fargo Bank, N.A., Corporate Trust Operations, MAC N9303-121, P.O. Box 1517, Minneapolis, MN 55480; by regular mail or dealer and certain transfer taxes and will indemnify holders of the notes, including any broker-dealers, against certain liabilities, including liabilities under the Securities Act.

We used the net proceeds from the sale of the original notes to repay our outstanding 7.875% senior secured notes due March 1, 2012 and pending that repayment, we used the proceeds to reduce outstanding borrowings under our short term credit facilities and our accounts receivable securitization facility andcourier: Wells Fargo Bank, N.A., Corporate Trust Operations, MAC N9303-121, 6th St. & Marquette Avenue, Minneapolis, MN 55479. Eligible institutions may make requests for other general corporate purposes. See “Use of Proceeds.”

Resales

Based on interpretations by the staff of the Securities and Exchange Commission, or the SEC, as detailed in a series of no-action letters issued to third parties that are not related to us, we believe that the exchange notes issued in the exchange offer may be offered for resale, resold or otherwise transferred by you without compliance with the registration and prospectus delivery requirements of the Securities Act as long as:

you are acquiring the exchange notes in the ordinary course of your business;

you are not participating, do not intend to participate and have no arrangement or understanding with any person to participate in a distribution of the exchange notes; and

you are neither an affiliate (as defined in Rule 405 under the Securities Act) of CONSOL Energy nor a broker-dealer tendering notes acquired directly from us for your own account.

If you are an affiliate of CONSOL Energy, are engaged in or intend to engage in or have any arrangement or understanding with any person to participate in the distribution of the exchange notes:

you cannot rely on the applicable interpretations of the staff of the SEC;

you will not be able to tender your original notes in the exchange offer; and

you must comply with the registration and prospectus delivery requirements of the Securities Act in connection with any sale or transfer of the notes unless such sale or transfer is made pursuant to an exemption from such requirements.

Each broker or dealer that receives exchange notes for its own account in exchange for original notes that were acquired as a result of market-making or other trading activities must acknowledge that it will comply with the registration and prospectus delivery requirements of the Securities Act in connection with any offer to resell, resale, or other transfer of the exchange notes issued in the exchange offer, including the delivery of a prospectus that contains information with respect to any selling holder required by the Securities Act in connection with any resale of the exchange notes.

Furthermore, any broker-dealer that acquired any of its original notes directly from CONSOL Energy:

may not rely on the applicable interpretation of the staff of the SEC’s position contained in Exxon Capital Holdings Corp., SEC no-action letter (April 13, 1988), Morgan, Stanley & Co. Inc., SEC no-action letter (June 5, 1991), and Shearman & Sterling, SEC no-action letter (July 2, 1993); and

must also be named as a selling holder in connection with the registration and prospectus delivery requirements of the Securities Act relating to any resale transaction.

As a condition to participation in the exchange offer, each holder will be required to represent that it is not an affiliate of CONSOL Energy or a broker-dealer that acquired the original notes directly from CONSOL Energy.

The SEC has not considered the exchange offer in the context of a no-action letter, and we cannot assure you that the SEC would make similar determinations with respect to the exchange offer. If any of these conditions are not satisfied, or if our belief is not accurate, and you transfer any exchange notes issued to you in the exchange offer without an exemption from registration of your exchange notes from those requirements, or you are a broker-dealer and fail to comply with

facsimile transmission at (877) 407-4679.

 


any applicable prospectus delivery requirements, you may incur liability under the Securities Act. We will not assume, nor will we indemnify you against, any such liability.

Consequences of Not Exchanging Original Notes

Original notes that are not tendered, or that are tendered but not accepted, will be subject to their existing transfer restrictions. We will have no further obligation, except under limited circumstances, to provide for registration under the Securities Act of the original notes. See “The Exchange Offer—Consequences of Exchanging or Failing to Exchange the Original Notes.”

Risk Factors

See “Risk Factors” and the other information in this prospectus for a discussion of factors you should carefully consider before deciding to exchange the notes.


Summary of the Terms of the ExchangeNew Notes

The following is a summaryterms of the new notes will be substantially identical to the terms of the exchange notes. The form and terms of these exchange notes are identical in all material respects to those of the originalold notes, except that the exchangenew notes arewill be registered under the Securities Act and the transfer restrictions, registration rights and provisions for additional interest provisions applicablerelating to the originalold notes do not apply to the exchangenew notes. The exchangenew notes will be governed byevidence the same debt as the old notes, and the same indenture asthat governs the originalold notes will govern the new notes. When weWe sometimes refer to the terms of “note” or “notes”new notes and the old notes collectively in this prospectus we are referring collectively toas “the notes.”

The following summary contains basic information about the originalnew notes and the exchange notes.is not intended to be complete. It does not contain all information that may be important to you. For a more complete descriptionunderstanding of the terms of the exchangenew notes, seeplease read “Description of Exchange Notes” in this prospectus.New Notes.”

 

Issuer

CONSOL Energy Inc., a Delaware corporation.

 

Exchange Notes Offeredoffered

$250,000,000 aggregate500 million principal amount of 6.375% senior notes8.000% Senior Notes due 2021.2023.

 

Maturity Datedate

The 2021 exchange notes will mature on MarchApril 1, 2021.2023.

 

Interest rate

8.000% per year (calculated using a 360-day year).

Interest payment dates

Interest on the 2021 exchange notes will accrue at a rate of 6.375% per annum. Interest on the exchangenew notes will be payable semi-annually in cash in arrears on MarchApril 1 and SeptemberOctober 1 of each year, commencing September 1, 2010.year. The initial interest payment on the new notes will include all accrued and unpaid interest on the old notes exchanged therefor.

Denominations

The new notes will be issued in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.

 

Guarantees

The exchangenew notes will be fully and unconditionally guaranteed on a senior basis by substantially all of our existing and future wholly-ownedwholly owned domestic restricted subsidiaries. Please read “Description of New Notes—Guarantees.”

 

Ranking

The new notes and the guarantees will be the Company’sour and the guarantors’ general senior unsecured obligations and will:

 

rank equally in right of payment with all of our and the guarantors’ existing and future senior obligations;

rank senior in right of payment to all of the Company’sour and the guarantors’ existingindebtedness and future senior unsecured debt;

rank senior in right of payment to any of the Company’s and the guarantors’ future debtother obligations that isare, by their terms, expressly subordinated in right of payment to the notes and the guarantees;

notes;

 

be effectively subordinated to the Company’sall of our and the guarantors’ secured indebtedness including indebtedness(including obligations under ourthe revolving credit facility and CNX Gas’ revolving credit facility,facility), to the extent of the value of the collateralassets securing such indebtedness; and

 

be structurally subordinated to all obligations of each of our future subsidiaries that is not a guarantor of the existing and future liabilities, including trade payables, of our subsidiaries that do not guarantee the notes.

 

 

As of JuneSeptember 30, 2011:2015, we had approximately $3.5 billion of senior indebtedness, excluding approximately $281 million of outstanding secured letters of credit, and no subordinated

 

we had $331 million of senior secured indebtedness outstanding on a consolidated basis (excluding $337 million of letters of credit outstanding under our and CNX Gas’ revolving credit facilities) and an additional $1,902 million of unused



 

commitments available to be borrowed underindebtedness. In addition, as of September 30, 2015, our and CNX Gas’ revolving credit facilities and an additional $130non-guarantor subsidiaries had $181 million available under our accounts receivable securitization facility; andof indebtedness outstanding. Please read “Description of New Notes—Ranking.”

 

Optional redemption

On or after March 1, 2016, weWe may, at our option, redeem some or all of the 2021 exchangenew notes at any time on or after April 1, 2018, at the redemption prices described in the sectionlisted under “Description of theNew Notes—Optional Redemption.”

 

 Prior to such dates,time, we may redeem some or all of the exchangenew notes at a redemption price ofequal to 100% of the principal amount thereof, plus the “applicable premium” and accrued and unpaid interest if any, to, but not including, the redemption date plus a “make-whole” premium. as described herein.

In addition, we may redeem up to 35% of the aggregate principalnew notes before April 1, 2018 with an amount of cash not greater than the exchange notes before March 1, 2014 with thenet cash proceeds offrom certain equity offerings at athe redemption price described under ��Description of 106.375%New Notes—Optional Redemption.”

Please read “Description of the principal amount plus accrued and unpaid interest, if any, to the redemption date.New Notes—Optional Redemption.”

 

Change of control

If we experience certain kinds of changeschange of control, we must offereach holder of new notes may require us to purchase the exchangerepurchase all or a portion of such holder’s notes at a purchase price equal to 101% of theirthe principal amount of the new notes, plus accrued and unpaid interest. For more details, seeinterest, if any, to, but not including, the sectiondate of repurchase. Please read “Description of the Notes” under the heading “ChangeNew Notes—Change of Control.

Mandatory Offer to Repurchase Following Certain Asset Sales

If we sell certain assets and do not repay certain debt or reinvest the proceeds of such sales within certain time periods, we must offer to repurchase the notes at the prices listed under “Description of Notes—Limitation on Sales of Assets and Subsidiary Stock.

 

Certain covenants

The indenture governing the notes contains covenants that, limit, among other things, limit our ability and the ability of some of our subsidiaries to:

 

incur additional debt;

debt or issue preferred securities;

 

declare or pay dividends redeem stock or make other distributions to stockholders;

repurchase equity or subordinated debt;

 

make investments;

unscheduled payments on subordinated indebtedness;

 

create liens or use assets as security in other transactions;

encumbrances;

 

enter into sale and leaseback transactions;

make investments, loans or other guarantees;

 

mergesell or consolidate, or sell, transfer, lease orotherwise dispose of substantially alla portion of our assets;

 

enter intoengage in transactions with affiliates; and

 

sellmake acquisitions or transfer certain assets.

merge or consolidate with another entity.

 

 These covenants are subject to a number of important qualifications and limitations.exceptions. In addition, many of the covenants contained in the indenture will be terminated before the notes mature if the notes are rated investment grade by either of Standard & Poor’s or Moody’s and no default has occurred and is continuing. See “Description of theNew Notes—Certain Covenants.”

 

Transfer restrictions

The new notes generally will be freely transferable, but will also be securities for which the public market may be limited. There can be



No established trading market

The exchange

no assurance as to the development, persistence or liquidity of any market for the new notes. We do not intend to apply for a listing of the new notes will not be listed on any securities exchange or on any automated dealer quotation system. We cannot assure you that an active or liquid trading market for the exchange

Form of new notes

The new notes will develop. If an activebe represented initially by one or liquid trading marketmore global notes. Each global new note will be deposited with the trustee, as custodian for the exchangeDTC.

Same-day settlement

The global new notes does not develop, the market pricewill be shown on, and liquiditytransfers of the global new notes will be effected only through, records maintained in book-entry form by DTC and its direct and indirect participants.

The new notes are expected to trade in DTC’s same day funds settlement system until maturity or redemption. Therefore, secondary market trading activity in the new notes will be settled in immediately available funds.

Trading

We do not expect to list the new notes for trading on any securities exchange or automated dealer quotation system.

Trustee, registrar and exchange agent

Wells Fargo Bank, National Association.

Governing law

The notes mayand the indenture relating to the notes are governed by, and will be adversely affected.construed in accordance with, the laws of the State of New York.

 

Risk factors

You should consider carefullyThe new notes involve risks. Please see “Risk Factors” beginning on page 8 and the informationrisk factors set forth in our Annual Report onForm 10-K for the sectionyear ended December 31, 2014 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2015, June 30, 2015 and September 30, 2015, for a discussion of this prospectus entitled “Risk Factors” and all the other information includedcertain factors you should consider in or incorporated by reference into this prospectus in deciding whether to participateevaluating an investment in the exchange offer.new notes.

 



RISK FACTORS

Investment in our securities is subject to various risks, including risks and uncertainties inherent in our business. Any of these individual risks described below, or any number of these risks occurring simultaneously, could have a material effect on our consolidated financial statements, business or results of operation. You should carefully consider the following riskthese factors in addition to the other information included in this prospectus before tenderingwhen evaluating your original notes in the exchange offer. In addition, you should carefully consider the matters discussed under “Risk Factors”investment in our Annual Report on Form 10-K forsecurities.

The risks and uncertainties described below are not the fiscal year ended December 31, 2010,only risks and in other documentsuncertainties that are subsequently filed with the SEC, which are incorporated by reference into this prospectus. If any of the risks discussed below or in the documents incorporated by reference actually occur, our business, financial condition, prospects, results of operations or cash flow could be materially and adversely affected.we face. Additional risks orand uncertainties not currentlypresently known to us or that we currently deem to be immaterial may also impair our business operations. We cannot assure you thatIf any of the events discussed in the risk factors below or in the documents incorporated by reference will not occurthose risks actually occurs, our business, financial condition and if such events do occur, you may lose all or partresults of your original investment in the notes.operations could suffer. The risks discussed below also include forward-looking statements and our actual results may differ substantially from those discussed in these forward-looking statements. See “Forward LookingPlease read “Forward-Looking Statements.” In addition, you should read the risk factors in our Annual Report on Form 10-K for the year ended December 31, 2014 and our Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2015, June 30, 2015 and September 30, 2015, which are incorporated herein by reference.

Risks Related to the Exchange Offer

You may have difficulty selling the original notes that you do not exchange.

If you do notfail to exchange your originalold notes, existing transfer restrictions will remain in effect, and the market value of old notes may be adversely affected because they may be more difficult to sell.

If you fail to exchange old notes for exchangenew notes pursuant toin the exchange offer, the original notesthen you hold will continue to be subject to the existing transfer restrictions. The originalrestrictions on the old notes. In general, the old notes may not be offered or sold unless they are registered or otherwise transferred, except in compliance with the registration requirements of the Securities Act, pursuant to an exemptionexempt from registration under the Securities Act or in a transaction not subject to the registration requirements of the Securities Act, and in compliance with applicable state securities laws. WeExcept in connection with this exchange offer or as required by the registration rights agreement, we do not anticipate that we willintend to register resales of the original notes under the Securities Act. After the exchange offer is consummated, the trading market for the remaining untendered original notes may be small and inactive. Consequently, you may find it difficult to sell any original notes you continue to hold because there will be fewer original notesold notes.

The tender of such series outstanding.

If you do not exchange your originalold notes in the exchange offer you will no longer be entitledreduce the principal amount of the currently outstanding old notes. Due to the corresponding reduction in liquidity, this may have an adverse effect upon, and increase in interest payments on originalthe volatility of, the market price of any currently outstanding old notes that you continue to hold following the indenture provides for if we fail to completecompletion of the exchange offer.

OnceRisks Related to Our Indebtedness

We have substantial debt and have the exchange offer has been completed, holdersability to incur additional debt. The principal and interest payment obligations of such debt may restrict our future operations and impair our ability to meet our obligations under the notes.

As of September 30, 2015, we and our subsidiaries had approximately $3.7 billion of outstanding originalindebtedness. In addition, the terms of our revolving credit facility and the indentures governing our existing senior notes permit us to incur additional debt, including up to approximately $774 million that would be available under our revolving credit facility on that date, subject to our ability to meet certain borrowing conditions.

Our substantial debt may have important consequences to you. For instance, it could:

make it more difficult for us to satisfy our financial obligations, including those relating to the notes issued in this offering;

require us to dedicate a substantial portion of any cash flow from operations to the payment of interest and principal due under our debt, which will reduce funds available for other business purposes, including capital expenditures and acquisitions;

limit our flexibility in planning for, or reacting to, changes in our business and in the natural gas and coal industries;

place us at a competitive disadvantage compared with some of our competitors that may have less debt and better access to capital resources; and

limit our ability to obtain additional financing required to fund working capital and capital expenditures and for other general corporate purposes.

Our ability to satisfy our obligations and to reduce our total debt depends on our future operating performance and on economic, financial, competitive and other factors, many of which are beyond our control. Our business may not generate sufficient cash flow, and future financings may not be entitledavailable to any increase inprovide sufficient net proceeds, to meet these obligations or to successfully execute our business strategy.

The provisions of our debt agreements and the interest rate on their originalrisks associated with our debt could adversely affect our business, financial condition and results of operations.

Our senior secured credit facility, the indentures governing our existing senior notes thatand the indenture governing the notes provides forlimit the incurrence of additional indebtedness unless specified tests or exceptions are met. In addition, our senior secured credit agreement, the indentures governing our existing senior notes and the indenture governing the notes subject us to financial and/or other restrictive covenants. Under our senior secured credit agreement, we must comply with certain financial covenants on a quarterly basis including a minimum interest coverage ratio, and a maximum senior secured leverage ratio, as defined. Our senior secured credit agreement, the indentures governing our existing senior notes and the indenture governing our notes offered hereby impose a number of restrictions upon us, such as restrictions on granting liens on our assets, making investments, paying dividends, selling assets and engaging in acquisitions. Failure by us to comply with these covenants could result in an event of default that, if not cured or waived, could have an adverse effect on us.

If our cash flows and capital resources are insufficient to fund our debt service obligations, we failmay be forced to completesell assets, seek additional capital or seek to restructure or refinance our indebtedness. These alternative measures may not be successful and may not permit us to meet our scheduled debt service obligations. In the exchange offer. Holdersabsence of original notes will not have any further rights to have their original notes registered, except in limited circumstances, once the exchange offer is completed.

Some holders of the exchange notes maysuch operating results and resources, we could face substantial liquidity problems and might be required to comply withsell material assets or operations to attempt to meet our debt service and other obligations. Our senior secured credit agreement, the registrationindentures governing our existing senior notes and prospectus delivery requirementsthe indenture governing the notes restrict our ability to sell assets and use the proceeds from the sales. We may not be able to consummate those sales or to obtain the proceeds which we could realize from them and these proceeds may not be adequate to meet any debt service obligations then due.

To service our indebtedness, we will require a significant amount of cash. However, our ability to generate cash depends on many factors beyond our control.

Our ability to make payments on, and to refinance, our indebtedness, including the Securities Act.

If you exchange your original notes, and to fund planned capital expenditures, will depend on our ability to generate cash in the exchange offerfuture which, in turn, is subject to general economic, financial, competitive, regulatory and other factors, many of which are beyond our control.

Our business may not generate sufficient cash flow from operations and we may not have available to us future borrowings in an amount sufficient to enable us to pay our indebtedness, including the notes, or to fund our other liquidity needs. In these circumstances, we may need to refinance all or a portion of our indebtedness, including the notes, on or before maturity. We may not be able to refinance any of our indebtedness, including our credit facility and the notes, on commercially reasonable terms, or at all. Without this financing, we could be forced to sell assets or secure additional financing to make up for any shortfall in our payment obligations under unfavorable circumstances. However, we may not be able to secure additional financing on terms favorable to us or at all and, in addition, the purposeterms of participating inour revolving credit facility and the Indenture governing the notes limit our

ability to sell assets and also restrict the use of proceeds from such a distributionsale. Moreover, substantially all of the exchange notes, you may be deemedour assets have been pledged to have received restricted securities and, if so, you will be required to comply with the registration and prospectus delivery requirementssecure repayment of the Securities Act in connection with any resale transaction.

our indebtedness under our revolving credit facility. In addition, a broker-dealer that purchased original noteswe may not be able to sell assets quickly enough or for its own account as part of market-making or trading activities must deliver a prospectus when it sellssufficient amounts to enable us to meet our obligations, including our obligations under the exchange notes it received in the exchange offer. Our obligation to make this prospectus available to broker-dealers is limited. We cannot assure you that a proper prospectus will be available to broker-dealers wishing to resell their exchange notes.

Failure to comply with the exchange offer procedures could prevent a holder from exchanging its original notes.

Holders of the original notes are responsible for complying with all exchange offer procedures. The issuance of exchange notes in exchange for original notes will only occur upon completion of the procedures described in this prospectus under “The Exchange Offer.” Therefore, holders of original notes who wish to exchange them for exchange notes should allow sufficient time for timely completion of the exchange procedure. Neither we nor the exchange agent are obligated to extend the offer or notify you of any failure to follow the proper procedure.

Risks Related to the ExchangeNew Notes

Your rightThe new notes and the guarantees will be unsecured obligations and will be effectively subordinated to receive payments onall of our existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness and structurally subordinated to the existing and future indebtedness of any non-guarantor subsidiaries.

The new notes isand the guarantees will be general unsecured senior obligations ranking effectively junior to those creditors who have a security interest in our assets.

Our obligations under the notes and our guarantors’ obligations under their guarantees of the notes are unsecured. Our revolving credit facility and CNX Gas’s revolving credit facility are secured by a security interest in substantially all of our existing and the guarantors’ domestic tangible and intangible assets. If we are declared bankrupt or insolvent, or if we defaultfuture secured indebtedness (including all borrowings under our revolving credit facilityfacility) to the extent of the value of the collateral securing such indebtedness. If we or CNX Gas defaults under its revolving credit facility,a guarantor is declared bankrupt, becomes insolvent or is liquidated or reorganized, the lenders could declareholders of our secured indebtedness or the secured indebtedness of such guarantor will be entitled to be paid in full from the proceeds of the assets, if any, securing such indebtedness before any payment may be made with respect to the new notes or the affected guarantees. Holders of the new notes will participate ratably in any remaining proceeds with all holders of our unsecured indebtedness, including unsecured indebtedness incurred after the new notes are issued that does not rank junior to the new notes, including trade payables and all of the funds borrowed thereunder, together with accrued interest, immediately due and payable. If we were unable to repay suchour other general indebtedness, such secured creditors could foreclosebased on the pledged assetsrespective amounts owed to each holder or creditor. In any of the exclusion offoregoing events, there may not be sufficient funds to pay amounts due on the new notes. As a result, holders of the new notes even if an eventwould likely receive less, ratably, than holders of default exists under the indenture under which the notes will be issued at such time. Furthermore, if such secured creditors foreclose and sell the pledged equity interests in any subsidiary guarantor under the notes, then that guarantor will be released from its guarantee of the notes automatically and immediately upon such sale. In any such event, because the notes will not be secured by any of our assets or the equity interests in subsidiary guarantors, it is possible that there would be no assets remaining from which your claims could be satisfied or, if any assets remained, they might be insufficient to satisfy your claims fully. See “Description of Other Indebtedness.”indebtedness.

As of JuneSeptember 30, 2011,2015, we and the guarantors would have had $331total consolidated long-term debt of approximately $3.7 billion, excluding approximately $281 million of senior secured indebtedness, not including $337 million of outstanding letters of credit. In addition,credit, and no subordinated indebtedness and we would have had $1,902been able to incur up to approximately $774 million available to be borrowedof additional indebtedness under our credit facility.

The new notes will also be structurally subordinated to any indebtedness and CNX Gas’ revolving credit facilities and an additional $130 million available under our accounts receivable securitization facility. In addition,other liabilities of any subsidiaries that do not guarantee the new notes. Under certain circumstances, the indenture governing the new notes will permit us to form or acquire additional subsidiaries that are not guarantors of the incurrencenew notes. Holders of substantial additional indebtedness by us and our restricted subsidiaries in the future, including secured indebtedness.

Thenew notes will be structurally junior to indebtedness of our non-guarantor subsidiaries.

You will not have anyno claim as a creditor against any of our non-guarantor subsidiaries,subsidiaries. See “Description of New Notes—Ranking.”

We and indebtedness and other liabilities, including trade payables, of those subsidiaries will effectively be senior to your claims against those subsidiaries. In addition, the indenture under whichguarantors may incur substantial additional indebtedness. This could increase the notes will be issued will, subject to certain limitations, permit these subsidiaries to incur additional indebtedness and will not contain any limitation onrisks associated with the amount of other liabilities, such as trade payables, that may be incurred by these subsidiaries.new notes.

In addition, for the year ended December 31, 2010 (not giving effect to this offering), our non-guarantor subsidiaries generated 4.3% of our total revenues and other income and 2.5% of our EBITDA.

Certain of our subsidiaries are not subjectSubject to the restrictive covenantsrestrictions in the indenture governing the notes.

Certain ofnew notes and in other instruments governing our other outstanding indebtedness (including our revolving credit facility), we and our subsidiaries are not subject tomay incur substantial additional indebtedness (including secured indebtedness) in the restrictive covenants infuture. Although the indenture governing the notes.new notes and our revolving credit facility contain restrictions on the incurrence of additional indebtedness, these restrictions are subject to waiver and a number of significant qualifications and exceptions, and indebtedness incurred in compliance with these restrictions could be substantial.

If we or a guarantor incurs any additional indebtedness that ranks equally with the new notes (or with the guarantees thereof), including additional unsecured indebtedness or trade payables, the holders of that indebtedness will be entitled to share ratably with holders of the new notes in any proceeds distributed in connection with any insolvency, liquidation, reorganization, dissolution or other winding-up of us or a guarantor. This meansmay have the effect of reducing the amount of proceeds paid to holders of the new notes in connection with such a distribution.

Any increase in our level of indebtedness will have several important effects on our future operations, including, without limitation, whether:

we will have additional cash requirements in order to support the payment of interest on our outstanding indebtedness;

increases in our outstanding indebtedness and leverage will increase our vulnerability to adverse changes in general economic and industry conditions, as well as to competitive pressure; and

depending on the levels of our outstanding indebtedness, our ability to obtain additional financing for working capital, capital expenditures, general corporate and other purposes may be limited.

We cannot assure you that these entitieswe will be able to maintain or improve our leverage position.

An element of our business strategy involves maintaining a disciplined approach to financial management. However, we are also seeking to acquire, exploit and develop additional reserves which may require the incurrence of additional indebtedness. Although we will seek to maintain or improve our leverage position, our ability to maintain or reduce our level of indebtedness depends on a variety of factors, including future performance and our future debt financing needs. General economic conditions, coal, NGL and natural gas prices and financial, business and other factors will also affect our ability to maintain or improve our leverage position. Many of these factors are beyond our control.

Our revolving credit facility and the indentures governing our existing senior notes, including the indenture that will govern notes, have restrictive covenants that could limit our financial flexibility. These restrictive covenants limit our ability to engage in many of the activities that wemay be in our long-term best interests. Our ability to borrow under our revolving credit facility is subject to compliance with certain financial covenants, including the maintenance of certain financial ratios, including a minimum current ratio, a maximum leverage ratio and a minimum interest coverage ratio. Our revolving credit facility and the indentures governing our existing senior notes contain covenants, that, among other things, limit our ability and the ability of our restricted subsidiaries to:

incur additional indebtedness;

sell assets;

pay dividends or make certain investments;

create liens that secure indebtedness;

enter into transactions with affiliates;

merge or consolidate with another company; and

redeem or prepay other debt.

See “Description of New Notes—Certain Covenants.” Our failure to comply with these covenants could result in an event of default that, if not cured or waived, could result in the acceleration of all of our indebtedness. We would not have sufficient working capital to satisfy our debt obligations in the event of an acceleration of all or a significant portion of our outstanding indebtedness.

We may not be able to generate sufficient cash to service all of our indebtedness, including the new notes, and may be forced to take other actions to satisfy the obligations under our indebtedness, which may not be successful.

We expect our earnings and cash flow to vary significantly from year to year due to the nature of our industry. As a result, the amount of debt that we can manage in some periods may not be appropriate for us in other periods. Additionally, our future cash flow may be insufficient to meet our debt obligations and other commitments. Any insufficiency could negatively impact our business. A range of economic, competitive,

business and industry factors will affect our future financial performance, and, as a result, our ability to generate cash flow from operations and to pay our debt obligations. Many of these factors, such as coal, natural gas and NGL prices, economic and financial conditions in our industry and the global economy and initiatives of our competitors, are prohibitedbeyond our control. We may not be able to maintain a level of cash flows from operating activities sufficient to permit us to pay the principal, premium, if any, and interest on our indebtedness, including the new notes.

If our cash flows and capital resources are insufficient to fund our debt service obligations, we may be forced to reduce or limiteddelay planned investments and capital expenditures, or to sell assets, seek additional financing in the debt or equity markets or restructure or refinance our indebtedness, including the new notes. Our ability to restructure or refinance our indebtedness will depend on the condition of the capital markets and our financial condition at such time. Any refinancing of our indebtedness could be at higher interest rates and may require us to comply with more onerous covenants, which could further restrict our business operations. The terms of our existing or future debt instruments and the indenture governing the new notes may restrict us from doingadopting some of these alternatives. In addition, any failure to make payments of interest and principal on our outstanding indebtedness on a timely basis would likely result in a reduction of our credit rating, which could harm our ability to incur additional indebtedness. In the absence of such operating results and resources, we could face substantial liquidity problems and might be required to dispose of material assets or operations to meet our debt service and other obligations. Our revolving credit facility and the indenture that will govern the new notes restrict our ability to dispose of assets and use the proceeds from the disposition. We may not be able to consummate those dispositions or to obtain the proceeds that we could have realized from them and any proceeds may not be adequate to meet any debt service obligations then due. These alternative measures may not be successful and may not permit us to meet our debt service obligations.

If we are unable to comply with the restrictions and covenants in the agreements governing the new notes and our other indebtedness, there could be a default under the terms of these agreements, which could result in an acceleration of payment of funds that we have borrowed and would affect our ability to make principal and interest payments on the new notes.

Any default under the agreements governing our indebtedness that is not cured or waived by the required lenders, and the remedies sought by the holders of any such indebtedness, could make us unable to pay principal, and interest, or special interest, if any, on the new notes and substantially decrease the market value of the new notes. If we are unable to generate sufficient cash flow and are otherwise unable to obtain funds necessary to meet required payments of principal, premium, if any, and interest, or special interest, if any, on our indebtedness, or if we otherwise fail to comply with the various covenants, including financial and operating covenants, in the agreements governing our indebtedness (including covenants in our revolving credit facility and the indenture governing the new notes), we could be in default under the terms of the indentureagreements governing such indebtedness. In the notes,event of such as incurring additional debt, securing assets in priority to the claims of default:

the holders of such indebtedness could elect to declare all the notes, paying dividends,funds borrowed thereunder to be due and payable, together with accrued and unpaid interest;

the lenders under our revolving credit facility could elect to terminate their commitments thereunder, cease making further loans and institute foreclosure proceedings against our assets; and

we could be forced into bankruptcy or liquidation.

If our operating performance declines, we may in the future need to obtain waivers under our revolving credit facility to avoid being in default. If we breach our covenants under our revolving credit facility and seek a waiver, we may not be able to obtain a waiver from the required lenders. If this occurs, we would be in default under the facilities, the lenders could exercise their rights, as described above, and we could be forced into bankruptcy or liquidation.

making investments, selling assetsWe may not be able to repurchase the new notes upon a change of control.

If we experience certain kinds of changes of control, we may be required to offer to repurchase all outstanding new notes at 101% of their principal amount plus accrued and entering into mergersunpaid interest, if any. The indentures governing our existing senior notes have substantially the same requirement. We may not be able to repurchase the new notes upon a change of control because we may not have sufficient financial resources to purchase all of the existing senior notes that are tendered following a change of control. In addition, the terms of our revolving credit facility or other business combinations. These actionsoutstanding indebtedness may prohibit us from repurchasing any series of notes upon a change of control. Our failure to repurchase our existing senior notes upon a change of control could be detrimentalcause a default under the relevant indentures governing such notes and could lead to a cross default under our revolving credit facility. Additionally, using cash to fund the potential consequences of a change of control may impair our ability to makeobtain additional financing in the future, which could negatively impact our ability to conduct our business operations. See “Description of New Notes—Change of Control.”

Federal and state statutes allow courts, under specific circumstances, to void guarantees and require noteholders to return payments received from guarantors.

Federal bankruptcy and state fraudulent transfer laws permit a court to avoid all or a portion of principal and interest when due andthe obligations of a guarantor pursuant to comply with our other obligations under the notes, and could reduce the amount of our assets that would be available to satisfy your claims should we default on the notes.

A court could void our subsidiaries’ guaranteesits guarantee of the notes, or to subordinate any guarantor’s obligations under such guarantee to claims of its other creditors, reducing or eliminating the noteholders’ ability to recover under such guarantee. Although laws differ among these jurisdictions, in general, under applicable fraudulent transfer laws.

Although the guarantees provide you with a direct claim against the assets of the subsidiary guarantors, under the federal bankruptcy laws and comparable provisions of state fraudulent transferor conveyance laws, a guarantee could be voided as a fraudulent transfer or claimsconveyance if (i) the guarantee was incurred with respect to a guarantee could be subordinated to all other debtsthe intent of that guarantor. In addition, a bankruptcy court could void (i.e., cancel) any payments by that guarantor pursuant to its guarantee and require those payments to be returned tohindering, delaying or defrauding creditors; or (ii) the guarantor or to a fund for the benefit of the other creditors of the guarantor.

The bankruptcy court might take these actions if it found, among other things, that when a subsidiary guarantor executed its guarantee (or, in some jurisdictions, when it became obligated to make payments under its guarantee):

such subsidiary guarantor received less than reasonably equivalent value or fair consideration in return for incurring the incurrence of its guarantee;guarantee and any of:

 

such subsidiary guarantor:

the guarantor was (or was rendered)insolvent or rendered insolvent by reason of the incurrence of the guarantee;

guarantee or subsequently became insolvent for other reasons;

 

was engaged or about to engage in a business or transaction for which its assets constitutedthe incurrence of the guarantee left the guarantor with an unreasonably small amount of capital to carry on itsthe business;

or

 

the guarantor intended to, incur, or believed that it would, incur obligationsdebts beyond its ability to pay such debts as those obligations matured; or

was a defendant in an action for money damages, or had a judgment for money damages docketed against it and, in either case, after final judgment, the judgment was unsatisfied.

they mature.

A bankruptcy court would likely find that a subsidiary guarantor received less than fair consideration ordid not receive reasonably equivalent value or fair consideration for its guarantee toif the extent that itguarantor did not receive directsubstantially benefit directly or indirect benefitindirectly from the issuance of the notes. A bankruptcyIf a court could alsowere to void a guarantee, you would no longer have a claim against the guarantor. Sufficient funds to repay the notes may not be available from other sources, including the remaining guarantors, if it foundany. In addition, the court might direct you to repay any amounts that you already received from the subsidiary issued its guarantee with actual intent to hinder, delay, or defraud creditors. Although courts in different jurisdictions measure solvency differently, in general, an entityguarantor. The measures of insolvency for purposes of fraudulent transfer laws vary depending upon the governing law of the applicable jurisdiction. Generally, a guarantor would be deemedconsidered insolvent if if:

the sum of its debts, including contingent and unliquidated debts, exceedsliabilities, was greater than the fair saleable value of all its assets, or if assets;

the present fair saleable value of its assets iswas less than the amount that would be required to pay the expectedits probable liability on its existing debts, including contingent liabilities, as they became absolute and unliquidatedmature; or

it could not pay its debts as they becomebecame due.

We cannot predict what standardEach guarantee will contain a court would apply in orderprovision intended to determine whether a subsidiary guarantor was insolvent as oflimit the date it issued the guarantee or whether, regardless of the method of valuation, a court would determine that the subsidiary guarantor was insolvent on that date, or whether a court would determine that the paymentsguarantor’s liability under the guarantee constituted fraudulent transfers or conveyances on other grounds.

If ato the maximum amount that the guarantor could incur without causing the incurrence of obligations under its guarantee is deemed to be deemed a fraudulent transfer. This provision may not be effective to protect the guarantees from being voided under fraudulent transfer it could be voided altogether, or it could be subordinated to all other debts of the subsidiary guarantor. In such case, any payment by the subsidiary guarantor pursuant to its guarantee could be required to be returned to the subsidiary guarantor or to a fund for the benefit of the creditors of the subsidiary guarantor. If a guarantee is voided or held unenforceable for any other reason, holders of the notes would cease to have a claim against the subsidiary guarantor based on the guarantee and would be creditors only of the Company and any subsidiary guarantor whose guarantee was not similarly voided or otherwise held unenforceable.law.

We may be unable to purchase the notes upon a change of control.

Upon the occurrence of a change of control, as defined in the Indenture governing the notes, we will be required to offer to purchase the notes in cash at a price equal to 101% of the principal amount of the notes, plus accrued interest and additional interest, if any. A change of control will constitute an event of default under our revolving credit facility that permits the lenders to accelerate the maturity of the borrowings thereunder and may trigger similar rights under our other indebtedness then outstanding. Our revolving credit facility will prohibit us from repurchasing any notes. The failure to repurchase the notes would result in an event of default under the notes. In the event of a change of control, we may not have sufficient funds to purchase all of the notes and to repay the amounts outstanding under our revolving credit facility or other indebtedness.

An active trading market may not develop for the new notes.

The new notes are a new issuesissue of securities. There is no active public trading market for the new notes. We do not intend to apply for listing of the notes on a security exchange. The liquidity of the trading market in the notes and the market prices quoted for the notes may be adversely affected by changes in the overall market for this type of securities and by changes in our financial performance or prospects or in the prospects for companies in our industry generally. As a consequence, an active trading market may not develop for the notes, you may not be able to sell the notes, or, even if you can sell the notes, you may not be able to sell them at an acceptable price.

We are a holding company and will rely on our subsidiaries for funds necessary to meet our financial obligations, including the notes.

We conduct all of our activities through our subsidiaries. We depend on those subsidiaries for dividends and other payments to generate the funds necessary to meet our financial obligations, including the payment of principal and interest on the notes. The ability of our subsidiaries to make payments to us may be restricted by, among other things, their credit facilities and applicable state corporation or similar statutes and other laws and regulations. Currently, there are no significant restrictions on our ability or the ability of any guarantor subsidiary to obtain funds from its subsidiaries by such means as a dividend or loan. We cannot assure you that the earnings from, or other available assets of, our subsidiaries will be sufficient to enable us to pay principal or interest on the notes when due.

The indenture for the notes permits us to distribute our oil and natural gas or our coal business to our shareholders. If we choose to effect a spinoff of our oil and natural gas business, we will be replaced as obligor on the notes by the subsidiary that holds our oil and natural gas assets and is distributed to our shareholders. In either event, a spinoff will leave the holders of the notes would have a smaller amount of consolidated assets and reduced cash flow supporting the repayment of the notes.

The indenture for the notes permits us to spinoff, by way of a stock dividend, a majority of the voting securities of a subsidiary that holds all or substantially all of our oil and natural gas properties or our coal reserves and related assets, subject only to compliance with a leverage test and provided that no default or event of default has occurred or would result from such dividend. If we elect to distribute to our shareholders the voting stock of our subsidiary that holds our oil and natural gas properties as opposed to our coal properties, then that subsidiary will replace us as obligor on the notes and we will have no further liability with respect to the notes or the guarantees. See “Description of New Notes—Certain Definitions—Qualified Spin Transaction.” As a result of any such spinoff transaction, the holders of the notes would have a smaller amount of consolidated assets and reduced cash flow supporting repayment of their notes.

Many of the covenants contained in the indenture will be terminated if the notes are rated investment grade by either of Standard & Poor’s or Moody’s and no default has occurred and is continuing, but there are no assurances that the notes will ever be rated investment grade.

Many of the covenants in the indenture governing the notes will be terminated if the notes are rated investment grade by Standard & Poor’s or Moody’s, provided at such time no default or event of default has occurred and is continuing. These covenants include restrictions on our ability to pay dividends, to incur debt and to enter into certain transactions. There can be no assurance that the notes will ever be rated investment grade. See “Description of New Notes—Certain covenants—Changes in Covenants When Notes Rated Investment Grade.”

We face risks related to rating agency downgrades.

We expect one or more rating agencies to rate the notes. If such rating agencies either assign the notes a rating lower than the rating expected by the investors, or reduce the rating in the future, the market price of the notes may be adversely affected, raising capital may become more difficult and borrowing costs under our revolving credit facility and other future borrowings may increase.

USE OF PROCEEDS

This exchange offer is intended to satisfy our obligations under the registration rights agreement.agreement we entered into with the initial purchasers of our old notes in connection with the initial offer and sale thereof. We will not receive any cash proceeds from the issuance of the new notes in the exchange notes.offer. In consideration for issuing the exchangenew notes as contemplated in this prospectus, we will receive the originalold notes in a like principal amount, the form and terms of which are the same as the form andamount. The terms of the exchangenew notes are substantially identical to the terms of the old notes, except as otherwise described in this prospectus. The originalthat the new notes will be registered under the Securities Act and the transfer restrictions, registration rights and provisions for additional interest relating to the old notes do not apply to the new notes. Old notes surrendered in exchange for exchangethe new notes will be retired and canceled upon consummation of the exchange offercancelled and cannotwill not be reissued. Accordingly, no additional debt will result from the exchange. We have agreed to pay all expenses incidental to the exchange offer other than commissions and concessions of any broker or dealer and certain transfer taxes and will indemnify holdersissuance of the new notes includingwill not result in any broker-dealers, against certain liabilities, including liabilities under the Securities Act.

We received approximately $245 million of net proceeds from the sale of the original notes. We used the net proceeds from the notes offering to repaychange in our outstanding 7.875% senior secured notes due March 1, 2012. Pending such use, the proceeds were used to reduce outstanding indebtedness under our short-term credit facilities and our accounts receivable securitization facility and for general corporate purposes.indebtedness.

RATIO OF EARNINGS TO COMBINED FIXED CHARGES

The following table below sets forth our ratio of earnings to combined fixed charges for the periods indicated on a consolidated basis for eachhistorical basis. For purposes of computing the time periods indicated.

(In Thousands)ratio of earnings to fixed charges, “earnings” are defined as income before taxes plus fixed charges less capitalized interest. “Fixed charges” consist of interest expensed and capitalized and an estimate of interest within rent expense.

 

  Year Ended December 31, Six Months Ended
June 30,
 
  2010 2009 2008 2007 2006 2011 2010 
(Dollars in thousands)  Nine Months
Ended
September 30,
 Twelve Months Ended December 31, 
2015 2014 2013 2012 2011 2010 

Earnings:

           

Income from continuing operations before income taxes

  $467,913   $788,345   $725,595   $428,957   $550,920   $349,861   $238,316    $(658,190 $183,124   $46,075   $406,687   $872,926   $430,958  

Fixed charges, as shown below

   249,804    69,277    69,402    61,336    50,227    155,696    94,099     178,229   279,163   292,958   285,784   289,123   240,177  

Equity in income of investees

   (21,428  (15,707  (11,140  (6,551  (1,201  (11,312  (8,692

Noncontrolling interest—gas

   (11,845  (27,425  (43,191  (25,038  (29,608  —      (11,845

Amortization of capitalized interest

   6,770   8,278   6,520   4,978   6,595   5,836  

Equity in income of investees, net of distributions

   (13,094 (39,821 (20,095 (11,548 (17,463 (7,996

Interest capitalized

   (1,767 (13,573 (43,717 (38,054 (15,547 (13,393

Noncontrolling Interest

   —      —     1,386   397    —      —    
                        

 

  

 

  

 

  

 

  

 

  

 

 

Adjusted Earnings (Loss)

  $684,444   $814,490   $740,666   $458,704   $570,338   $494,245   $311,878  

Adjusted Earnings

  $(488,052 $417,171   $283,127   $648,244   $1,135,634   $655,582  
                        

 

  

 

  

 

  

 

  

 

  

 

 

Fixed Charges:

        

Fixed charges:

   

Interest on indebtedness, expensed or capitalized

  $218,425   $43,290   $48,345   $45,414   $35,818   $137,299   $79,521    $151,954   $237,137   $262,915   $258,096   $263,891   $218,425  

Interest within rent expense

   31,379    25,987    21,057    15,922    14,409    18,397    14,578     26,275   42,026   30,043   27,688   25,232   21,752  
                        

 

  

 

  

 

  

 

  

 

  

 

 

Total Fixed Charges

  $249,804   $69,277   $69,402   $61,336   $50,227   $155,696   $94,099    $178,229   $279,163   $292,958   $285,784   $289,123   $240,177  
                        

 

  

 

  

 

  

 

  

 

  

 

 

Ratio of Earnings to Fixed Charges

   2.74    11.76    10.67    7.48    11.36    3.17    3.31  

Ratio of Earnings to Fixed Charges(1)

   (2.74 1.49   0.97   2.27   3.93   2.73  
                        

 

  

 

  

 

  

 

  

 

  

 

 

(1)For the nine months ended September 30, 2015, our earnings would have needed to have been higher by $667 million for our ratio of earnings to fixed charges to be 1.00.

SELECTED HISTORICAL CONSOLIDATED FINANCIAL DATA

The following table presents our selected historical consolidated financial data for, and as of the end of, each of the periods indicated. The selectedsummary historical consolidated financial data for, andset forth below as of the end of,December 31, 2014 and 2013 and for each of the years ended December 31, 2010, 2009, 2008, 20072014, 2013 and 2006 are2012 have been derived from our audited Consolidated Financial Statements.consolidated financial statements, which are incorporated by reference in this prospectus.

In December 2013, we completed the sale of our Consolidation Coal Company (CCC) subsidiary, which includes all five of its longwall coal mines in West Virginia, to a subsidiary of Murray Energy. For all periods presented in the following summary historical consolidated financial data, the sale of CCC was classified as discontinued operations. There were no other active businesses classified as discontinued operations in the three-year period ended December 31, 2013. Certain reclassifications of prior year data, including reclassifications to report discontinued operations for each relevant period, have been made to conform to the year ended December 31, 2010 as required by the Noncontrolling Interest Topic of the Financial Accounting Standards Board Accounting Standards Codification.

The historical statement of operations data, the cash flow data and the other data for the six months ended June 30, 2011 and 2010, and the historical balance sheet data as of June 30, 2011, have been derived from our unaudited condensed consolidated financial statements incorporated by reference into this prospectus. In the opinion of management, the interim financial information provided herein reflects all adjustments consisting of normal and recurring adjustments necessary for a fair statement of the data for the periods presented. Interim results are not necessarily indicative of the results to be expected for the entire fiscal year.2013 presentation.

The selected historical consolidated financial data are not necessarily indicative of the results that may be expected for any future period. You should read the summary historical financial data together with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” incorporated by reference into this prospectus from our Annual Report on Form 10-K for the year ended December 31, 20102014 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2011 and2015, June 30, 2011.2015 and September 30, 2015.

  (Unaudited)                

(Dollars in thousands,

Except per share data)

 For the Nine Months
Ended September 30,
  For the Years Ended December 31, 
  2015  2014  2014  2013  2012  2011  2010 

Operating revenues from Continuing Operations

 $2,185,465   $2,612,709   $3,476,100   $3,120,722   $3,282,350   $4,237,913   $3,559,511  

Income (Loss) from Continuing Operations

 $(398,801 $95,111   $168,777   $79,264   $317,959   $681,675   $315,240  

Net Income Attributable to CONSOL Energy Inc. Shareholders

 $(405,291 $89,424   $163,090   $660,442   $388,470   $632,497   $346,781  

Earnings (Loss) per share:

       

Basic:

       

Income from Continuing Operations

 $(1.77 $0.41   $0.73   $0.35   $1.40   $3.01   $1.41  

Income from Discontinued Operations

  —      (0.02  (0.02  2.54    0.31    (0.22  0.20  

Net Income

 $(1.77 $0.39   $0.71   $2.89   $1.71   $2.79   $1.61  

Dilutive:

       

Income from Continuing Operations

 $(1.77 $0.41   $0.73   $0.35   $1.39   $2.98   $1.40  

Income from Discontinued Operations

  —      (0.02  (0.03  2.52    0.31    (0.22  0.20  

Net Income

 $(1.77 $0.39   $0.70   $2.87   $1.70   $2.76   $1.60  

Assets from Continuing Operations

 $11,185,366   $11,718,935   $11,759,530   $11,393,667   $10,383,343   $9,952,077   $9,543,457  

Assets from Discontinued Operations

  —      —      —      —      2,614,251    2,573,623    2,527,153  

Total assets

 $11,185,366   $11,718,935   $11,759,530   $11,393,667   $12,997,594   $12,525,700   $12,070,610  

Long-term debt from Continuing Operations (including current portion)

 $2,789,091   $3,291,547   $3,288,894   $3,175,014   $3,185,497   $3,196,455   $3,209,101  

Long-term debt from Discontinued Operations (including current portion)

 $—      —      —      —      2,574    1,659    1,820  

Total Long-term debt (including current portion)

 $2,789,091   $3,291,547   $3,288,894   $3,175,014   $3,188,071   $3,198,114   $3,210,921  

Cash dividends declared per share of common stock

 $0.1350   $0.1875   $0.250   $0.375   $0.625   $0.425   $0.400  

See “Risk Factors” beginning on page 8 for a discussion of an adjustment to operating revenues for all periods and other matters that affect the comparability of the selected financial data as well as uncertainties that might affect the Company’s future financial condition.

STATEMENT OF INCOME DATA

(In thousands except per share data)

  For the Years Ended December 31,  For the Six Months
Ended June 30,
 
  2010  2009  2008  2007  2006  2011  2010 

Sales—Outside

 $4,938,703   $4,311,791   $4,181,569   $3,324,346   $3,286,522   $2,871,478   $2,389,630  

Sales—Purchased Gas

  11,227    7,040    8,464    7,628    43,973    2,142    4,756  

Sales—Gas Royalty Interests

  62,869    40,951    79,302    46,586    51,054    35,108    28,490  

Freight—Outside

  125,715    148,907    216,968    186,909    162,761    96,440    59,275  

Other Income

  97,507    113,186    166,142    196,728    170,861    48,137    47,256  
                            

Total Revenue and Other Income

  5,236,021    4,621,875    4,652,445    3,762,197    3,715,171    3,053,305    2,529,407  

Cost of Goods Sold and Other Operating Charges (exclusive of depreciation, depletion and amortization shown below)

  3,262,327    2,757,052    2,843,203    2,352,000    2,249,776    1,741,108    1,585,633  

Acquisition and Financing Fees

  65,363    —      —      —      —      —      64,078  

Loss on Debt Extinguishment

  —      —      —      —      —      16,090    —    

Purchased Gas Costs

  9,736    6,442    8,175    7,162    44,843    2,452    3,647  

Gas Royalty Interests Costs

  53,775    32,376    73,962    39,921    41,879    31,173    23,725  

Freight Expense

  125,544    148,907    216,968    186,909    162,761    96,251    59,275  

Selling, General and Administrative Expenses

  150,210    130,704    124,543    108,664    91,150    83,619    69,175  

Depreciation, Depletion and Amortization

  567,663    437,417    389,621    324,715    296,237    306,862    251,950  

Abandonment of Long-Lived Assets

  —      —      —      —      —      115,479    —    

Interest Expense

  205,032    31,419    36,183    30,851    25,066    131,079    73,183  

Taxes Other Than Income

  328,458    289,941    289,990    258,926    252,539    179,331    160,425  

Black Lung Excise Tax Refund

  —      (728  (55,795  24,092    —      —      —    
                            

Total Costs

  4,768,108    3,833,530    3,926,850    3,333,240    3,164,251    2,703,444    2,291,091  
                            

Earnings Before Income Taxes

  467,913    788,345    725,595    428,957    550,920    349,861    238,316  

Income Taxes

  109,287    221,203    239,934    136,137    112,430    80,328    59,534  
                            

Net Income

  358,626    567,142    485,661    292,820    438,490    269,533    178,782  

Less: Net Income Attributable to Noncontrolling Interest

  (11,845  (27,425  (43,191  (25,038  (29,608  —      (11,845
                            

Net Income Attributable to CONSOL Energy Inc. Shareholders

 $346,781   $539,717   $442,470   $267,782   $408,882   $269,533   $166,937  
                            

Earnings Per Share:

       

Basic

 $1.61   $2.99   $2.43   $1.47   $2.23   $1.19   $0.82  
                            

Dilutive

 $1.60   $2.95   $2.40   $1.45   $2.20   $1.18   $0.81  
                            

Weighted Average Number of Common Shares Outstanding:

       

Basic

  214,920,561    180,693,243    182,386,011    182,050,627    183,354,732    226,499,994    203,842,526  
                            

Dilutive

  217,037,804    182,821,136    184,679,592    184,149,751    185,638,106    228,917,335    206,311,383  
                            

Dividends Paid Per Share

 $0.40   $0.40   $0.40   $0.31   $0.28   $0.20   $0.20  
                            

BALANCE SHEET DATA

(In thousands)

   As of December 31,   As of
June 30,
 
   2010  2009  2008  2007  2006   2011 

Working (deficiency) capital

  $(549,779 $(487,550 $(527,926 $(333,242 $174,372    $(393,401

Total assets

   12,070,610    7,775,401    7,535,458    6,333,490    5,663,332     12,201,118  

Short-term debt

   484,000    522,850    722,700    372,900    —       330,750  

Long-term debt (including current portion)

   3,210,921    468,302    490,752    507,208    552,263     3,207,530  

Total deferred credits and other liabilities

   4,283,674    3,849,428    3,716,021    3,325,231    3,228,653     4,260,571  

CONSOL Energy Inc. Stockholders’ equity

   2,944,477    1,785,548    1,462,187    1,214,419    1,066,151     3,219,178  

DESCRIPTION OF CERTAIN INDEBTEDNESSEXCHANGE OFFER

The following are summaries of certain indebtedness of CONSOL Energy, and certain of its subsidiaries, and do not purport to be complete and are subject to, and qualified in their entirety by reference to, the provisions of those agreements, each of which has been previously filed with the SEC and are incorporated by reference in this prospectus.

Revolving Credit Facility

We andsold the old notes on March 30, 2015 pursuant to that certain of our subsidiaries as guarantor loan parties (other than CNX Gas and its subsidiaries) entered into a new Amended and Restated Credit Agreementpurchase agreement, dated as of April 12, 2011, which we refer to as the “Credit Agreement”, for a $1.5 billion senior secured revolving credit facility with certain lenders, PNC Bank, National Association as administrative agent, Bank of America, N.A. as syndication agent, The Bank of Nova Scotia, The Royal Bank of Scotland PLCMarch 25, 2015, by and Sovereign Bank as co-documentation agents and PNC Capital Markets LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arrangers. CNX Gas and its subsidiaries separately guaranteed the obligations under the Credit Agreement pursuant to an Amended and Restated CNX Gas Continuing Agreement of Guaranty and Suretyship dated as of April 12, 2011, which we refer to as the “CNX Gas Guaranty Agreement”. The new senior secured revolving credit facility replaced the Company’s existing $1.5 billion senior secured revolving credit facility which had been entered into as of May 7, 2010, which we refer to as the “Old Facility”.

The Credit Agreement provides for a secured revolving credit facility, which we refer to as the “Credit Facility”, in an aggregate outstanding principal amount of up to $1.5 billion, including borrowings and letters of credit. In addition to refinancing all outstanding amounts under the Old Facility, borrowings under the Credit Facility may be used by CONSOL Energy for general corporate purposes.

Interest on outstanding indebtedness under the Credit Facility currently accrues, at our option, at a rate based on either:

the greater of (i) the federal funds open rateplus 0.5%, (ii) PNC Bank, National Association’s prime rate,

and (iii) the daily LIBOR rateplus 1.0%,

in each case,plus a margin ranging from 0.75% to 1.75%

or

the LIBOR rateplus a margin ranging from 1.75% to 2.75%.

The applicable margin added to the underlying interest rate fluctuates based on the leverage ratio.

The Credit Facility matures on April 12, 2016, and requires compliance with conditions precedent that must be satisfied prior to any borrowing as well as ongoing compliance with certain affirmative and negative covenants to which CONSOL Energy and most of its wholly-owned subsidiaries must adhere.

The affirmative covenants include, among others: (i) preservation of existence; (ii) payment of obligations, including taxes; (iii) maintenance of properties, insurance, leases, books and records, coal supply agreements and material contracts; (iv) compliance with laws; (v) use of proceeds; (vi) subordination of intercompany loans; (vii) anti-terrorism laws; and (viii) collateral.

The negative covenants of the Credit Facility include restrictions on the ability of CONSOL Energy and its subsidiary guarantors (excluding CNX Gas and its subsidiaries) except in certain circumstances: (i) to create, incur, assume or suffer to exist indebtedness; (ii) to create or permit to exist liens on properties; (iii) to guaranty the debt of another party; (iv) to make loans or investments in excess of certain amounts except for permitted investments; (v) to make or pay dividends or distributions on CONSOL Energy common stock in excess of an annual rate of $0.40 per share unless certain conditions are met; (vi) to merge, liquidate, and dissolve and to make

acquisitions; (vii) to dispose of assets in excess of certain amounts subject to certain ordinary course and other exceptions; (viii) to deal with any affiliate except on fair and reasonably arm’s length terms; (ix) to create certain subsidiaries and joint ventures; (x) to engage in other businesses; (xi) to change fiscal year; (xii) other than CONSOL Energy, to issue additional equity to any person other than to CONSOL Energy or the other loan parties; (xiii) to amend certificates of incorporation, bylaws, or other organizational documents; (xiv) to make prepayments on or amendments to our senior notes; (xv) to permit restrictions on upstream dividends and payments to loan parties; or (xvi) to enter into agreements inconsistent with the Credit Agreement and loan documents. In addition, we are obligated to maintain at the end of each fiscal quarter (x) a leverage ratio not greater than 4.75 to 1.0 through March 31, 2013 and from June 30, 2013 and thereafter 4.50 to 1.0, subject to adjustment for certain dispositions; (y) an interest coverage ratio equal to or greater than 2.5 to 1.0; and (z) a senior secured leverage ratio not greater than 2.0 to 1.0; all as calculated in accordance with the terms and definitions determining such ratios contained in Credit Agreement. The Credit Agreement also contains various reporting requirements.

The Credit Facility also contains customary events of default, including, but not limited to, a cross-default to certain other debt, breaches of representations and warranties, change of control events and breaches of covenants.

The obligations under the Credit Agreement are secured by substantially all of the assets of CONSOL Energy and its subsidiaries (excluding CNX Gas and its subsidiaries and certain other subsidiaries) pursuant to the existing Amended and Restated Collateral Trust Agreement, as amended by a CONSOL Successor Agent Agreement, an Amended and Restated Pledge Agreement, an Amended and Restated Security Agreement, an Amended and Restated Patent, Trademark and Copyright Security Agreement, as well as various mortgages.

CNX Gas Credit Facility

CNX Gas and its wholly-owned subsidiaries entered into an Amended and Restated Credit Agreement dated as of April 12, 2011, which we refer to as the “CNX Gas Credit Agreement” for a $1.0 billion senior secured revolving credit facility with certain lenders, PNC Bank, National Association as administrative agent, Bank of America, N.A. as syndication agent, The Bank of Nova Scotia, The Royal Bank of Scotland PLC and Wells Fargo Bank, N.A. as co-documentation agents and PNC Capital Markets LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated as joint lead arrangers. CONSOL Energy and its subsidiaries that are loan parties under the Credit Agreement separately guaranteed the obligations under the CNX Gas Credit Agreement pursuant to a CONSOL Amended and Restated Continuing Agreement of Guaranty and Suretyship dated as of April 12, 2011. The new CNX Gas senior secured revolving credit facility replaced CNX Gas’ existing $700 million revolving credit facility which had been entered into as of May 7, 2010, which we refer to as the “CNX Gas Old Facility”.

The CNX Gas Credit Agreement provides for a secured revolving credit facility, which we refer to as the “CNX Gas Credit Facility”, in an aggregate outstanding principal amount of up to $1.0 billion, including borrowings and letters of credit. In addition to refinancing all outstanding amounts under the CNX Gas Old Facility, borrowings under the CNX Gas Credit Facility may be used by CNX Gas for general corporate purposes.

The availability under the CNX Gas Credit Facility, including availability for letters of credit, is generally limited to a borrowing base, which is determined by the required number of lenders in good faith by calculating a loan value of CNX Gas’ proved reserves and reducing that number by an equity cushion determined by the lenders required to approve the borrowing base.

Interest on outstanding indebtedness under the CNX Gas Credit Facility currently accrues, at CNX Gas’ option, at a rate based on either:

the greater of (i) the federal funds open rateplus0.5%, (ii) PNC Bank, National Association’s prime rate,

and (iii) the daily LIBOR rateplus 1.0%,

in each case,plus a margin ranging from 0.5% to 1.5%

or

the LIBOR rateplus a margin ranging from 1.5% to 2.5%.

The applicable margin added to the underlying interest rate fluctuates based on the facility utilization percentage.

The CNX Gas Credit Facility matures on April 12, 2016, and requires compliance with conditions precedent that must be satisfied prior to any borrowing as well as ongoing compliance with certain affirmative and negative covenants to which CNX Gas and its wholly-owned subsidiaries must adhere.

The affirmative covenants include, among others: (i) preservation of existence; (ii) payment of liabilities, including taxes; (iii) maintenance of properties, insurance, intellectual property and books and records; (iv) compliance with laws, leases, pipeline arrangements and other material contractual obligations; (v) use of proceeds; (vi) subordination of intercompany loans; (vii) anti-terrorism laws; and (viii) collateral and access to title information.

The negative covenants of the CNX Gas Credit Facility include restrictions on the ability of CNX Gas and its subsidiary guarantors except in certain circumstances: (i) to create, incur, assume or suffer to exist indebtedness; (ii) to create or permit to exist liens on properties; (iii) to guaranty the debt of another party; (iv) to make loans or investments in excess of certain amounts except for permitted investments; (v) to make or pay any dividends or distributions to third parties in excess of certain amounts subject to certain conditions; (vi) to merge, liquidate, or dissolve; (vii) to dispose of assets in excess of certain amounts subject to certain ordinary course and other exceptions; (viii) to deal with any affiliate except on fair and reasonably arm’s length terms; (ix) creation of certain subsidiaries and joint ventures; (x) to engage in other businesses; (xi) to change fiscal year; (xii) other than CNX Gas, to issue additional equity to any person other than CNX Gas or its wholly-owned subsidiaries; (xiii) to amend certificates of incorporation, bylaws, or other organizational documents; (xiv) to enter into any hedging agreement other than those permitted by the CNX Gas Credit Agreement in the ordinary course of CNX Gas’ business; (xv) to sell, transfer or convey or voluntarily pool or unitize its proved reserves; (xvi) to permit restrictions on upstream dividends and payments to loan parties; or (xvii) to enter into agreements inconsistent with the CNX Gas Credit Agreement and loan documents. In addition, CNX Gas is obligated to maintain as of the end of each fiscal quarter a leverage ratio of not greater than 3.5 to 1.0 and an interest coverage ratio equal to or greater than 3.0 to 1.0, as calculated in accordance with the terms and definitions determining such ratios contained in CNX Gas Credit Agreement. The CNX Gas Credit Agreement also contains various reporting requirements.

The CNX Gas Credit Facility also contains customary events of default, including, but not limited to, a cross-default to certain other debt, breaches of representations and warranties, change of control events and breaches of covenants.

The obligations under the CNX Gas Credit Agreement are secured by substantially all of the assets of CNX Gas and its subsidiaries pursuant to an existing Amended and Restated Collateral Trust Agreement, as amended by a CNX Gas Successor Agent Agreement, a CNX Gas Pledge Agreement and a CNX Gas Security Agreement, as well as various mortgages.

Accounts Receivable Securitization

In 2007, CONSOL Energy and certain of its U.S. subsidiaries amended their existing trade accounts receivable facility with financial institutions for the sale on a continuous basis of eligible trade accounts receivable. The amended facility allows CONSOL Energy to receive, on a revolving basis, up to $200 million. The amended facility also allows for the issuance of letters of credit against the $200 million capacity. The amended facility expires in April 2012. In accordance with the facility agreement, CONSOL Energy is able to receive proceeds based upon total eligible accounts receivable at the previous month-end. The cost of funds is based on commercial paper rates plus a charge for administrative services paid to financial institutions. CONSOL Energy formed CNX Funding Corporation, a wholly owned, special purpose, bankruptcy-remote subsidiary for the sole purpose of buying and selling eligible trade receivables generated by certain subsidiaries of CONSOL Energy. Under the receivables facility, CONSOL Energy and certain subsidiaries, irrevocably and without recourse, sell all of their eligible trade accounts receivable to CNX Funding Corporation. CNX Funding Corporation then sells, on a revolving basis, an undivided percentage interest in the pool of eligible trade accounts receivable to financial institutions and their affiliates, while maintaining a subordinated interest in a portion of the trade receivables. CONSOL Energy has agreed to continue servicing the sold receivables for the financial institutions for a fee based upon market rates for similar services.

Senior Notes due 2017 and 2020

On April 1, 2010 the following agreements were entered into: (i) an Indenture dated as of April 1, 2010 among CONSOL Energy, the Company’s subsidiaries named therein and The Bank of Nova Scotia Trust Company of New York, as trustee, regarding the issuance of 8.00% Senior Notes due 2017 (the “2017 Indenture”); (ii) an Indenture dated as of April 1, 2010 among the Company, the Company’s subsidiaries named therein and The Bank of Nova Scotia Trust Company of New York, as trustee, regarding the issuance of 8.25% Senior Notes due 2020 (the “2020 Indenture” and together with the 2017 Indenture, the “Indentures”), and (iii) a Registration Rights Agreement (the “Registration Rights Agreement”) dated as of April 1, 2010 among CONSOL Energy Inc., the Company’s subsidiaries named thereinsubsidiary guarantors party thereto, and Merrill Lynch, Pierce, FennerGoldman, Sachs & Smith Incorporated (formerly known as Bank of America Securities LLC)Co., as representative of the several initial purchasers.purchasers named therein. The old notes initially issuedwere subsequently offered by the initial purchasers to qualified institutional buyers pursuant to Rule 144A and to non-U.S. persons pursuant to Regulation S.

Purpose of the Exchange Offer

We sold the old notes in transactions that were exempt from or not subject to the registration requirements under these indentures werethe Securities Act. Accordingly, the old notes are subject to transfer restrictions. In general, you may not offer or sell the old notes unless either they are registered under the Securities Act.

The $1.5 billion of 8.00% Senior Notes due 2017 issuedAct or such offer or sale is exempt from, or not subject to, registration under the 2017 Indenture (includingSecurities Act and applicable state securities laws.

In connection with the sale of the old notes, offered inwe entered into a registration rights agreement with the initial purchasers of the old notes. In that agreement, we agreed to use our commercially reasonable efforts to file a registration statement and effect an exchange therefore are referred to asoffer thereunder after the “2017 Notes”). The $1.25 billionclosing date following the offering of 8.25% senior notes due 2020 issuedthe old notes. To satisfy our obligations under the 2020 Indenture (includingregistration rights agreement, we are offering certain holders of the old notes offered(those who are able to make certain representations described below under “—Procedures for Tendering—Your Representations to Us”), the opportunity to exchange their old notes for the new notes in the exchange therefore) are referredoffer. The exchange offer will be open for a period of at least 20 full business days. During the exchange offer period, we will exchange the new notes for all old notes properly surrendered and not withdrawn before the expiration date. The new notes will be registered under the Securities Act, and the transfer restrictions, registration rights and provisions for additional interest relating to as the “2020 Notes” and, collectively withold notes will not apply to the 2017 Notes, the “Notes.” The 2017 Notes will mature on April 1, 2017 and bear interest at the rate of 8.00% per annum. The 2020 Notes will mature on April 1, 2020 and bear interest at the rate of 8.25% per annum. Interest on the Notes is payable on April 1 and October 1 of each year.new notes.

If the Company experiences specified kinds of changes of control, the Company must offer to repurchase the Notes at 101% of theOn March 30, 2015, we issued $500 million aggregate principal amount of the Notes repurchased, plus accrued and unpaid interest and additional interest, if any, to the date of repurchase.

The Notes are general unsecured obligations of the Company. The Notes rank equal in right of payment with all of the Company’s existing and future senior unsecured indebtedness.

The Notes are jointly and severally guaranteed by substantially all of the Company’s wholly owned domestic restricted subsidiaries as well as by CNX Gas Corporation and its wholly-owned subsidiaries.

At any time prior to April 1, 2013, the Company may on any one or more occasions redeem with the net cash proceeds of certain common stock offerings by the Company (i) up to 35% of the aggregate principal amount of 2017 Notes at a redemption price of 108.00% and/or (ii) up to 35% of the aggregate principal amount of the 2020 Notes at a redemption price of 108.25% of the principal amount, plus in each case accrued and unpaid interest and additional interest, if any, to the redemption date.

At any time prior to April 1, 2014, the Company may redeem in whole, but not in part, the 2017 Notes at a redemption price equal to the sum of 100% of the principal amount and an applicable make whole premium plus accrued and unpaid interest and additional interest, if any, to the redemption date. At any time prior to April 1, 2015, the Company may redeem in whole, but not in part, the 2020 Notes at a redemption price equal to the sum of 100% of the principal amount and an applicable make whole premium plus accrued and unpaid interest and additional interest, if any, to the redemption date.

On and after April 1, 2014, the Company may redeem all or a part of the 2017 Notes upon not less than 30 nor more than 60 days’ notice, at redemption prices (expressed as percentages of principal amount) equal to 104.000% for the twelve-month period beginning on April 1, 2014, 102.000% for the twelve-month period beginning on April 1, 2015 and 100.000% beginning on April 1, 2016, plus accrued and unpaid interest and additional interest, if any. On and after April 1, 2015, the Company may redeem all or a part of the 2020 Notes at redemption prices (expressed as percentages of principal amount) equal to 104.125% for the twelve-month period beginning on April 1, 2015, 102.750% for the twelve-month period beginning on April 1, 2016, 101.375% for the twelve-month period beginning on April 1, 2017 and 100.000% beginning on April 1, 2018, plus accrued and unpaid interest and additional interest, if any.

The Indentures restrict the Company’s ability and the ability of certain of its subsidiaries which are restricted subsidiaries to: (i) incur or guarantee additional indebtedness; (ii) declare or pay dividends or make other distributions on capital stock or redeem or repurchase capital stock or subordinated indebtedness; (iii) make certain investments; (iv) create or incur liens or use assets as security in other transactions; (v) enter into sale and leaseback transactions; (vi) merge or consolidate with other entities; (vii) enter into transactions with affiliates; (viii) sell or transfer certain assets; and (ix) incur dividend or other payment restrictions affecting restricted subsidiaries. These covenants are subject to a number of important exceptions and qualifications.

The Indentures provide that each of the following is an Event of Default: (i) default for 30 days in the payment when due of interest on, or additional interest with respect to, the Notes; (ii) default in payment when due of the principal of, or premium, if any, on any Note; (iii) failure to comply with the obligations regarding mergers and consolidations; (iv) failure to comply for 30 days after notice with the obligations regarding change in control (other than a failure to purchase the respective Notes), incurrence or guarantee of additional indebtedness, restricted payments, restrictions on distributions from restricted subsidiaries, sale or transfer of assets (other than a failure to purchase the respective Notes), transactions with affiliates, creating or incurring liens, sale and leaseback transactions and joining future domestic subsidiaries; (v) failure to comply for 60 days after notice with any of the other agreements in the Indenture; (vi) indebtedness of the Company or any restricted subsidiary is not paid within any applicable grace period after final maturity or the maturity of such indebtedness is accelerated by the holders thereof because of a default (and such acceleration is not rescinded or annulled) and the total amount of all such indebtedness unpaid or accelerated exceeds $75.0 million; (vii) failure by the Company or any of its significant subsidiaries to pay final judgments aggregating in excess of $75.0 million, which judgments are not paid, discharged or stayed for a period of 60 days; (viii) any subsidiary guarantee of a significant subsidiary ceases to be in full force and effect (other than in accordance with the terms of that guarantee and the Indentures) or is declared null and void and unenforceable or found to be invalid or any subsidiary guarantor denies its liability under its subsidiary guarantee (other than by reason of release from its subsidiary guarantee); and (ix) certain events of bankruptcy or insolvency described in the Indentures with respect to the Company or any of its significant subsidiaries. In the case of an Event of Default arising from certain events of bankruptcy or insolvency with respect to the Company, all outstanding Notes will become due and payable immediately without further action or notice. If any other Event of Default occurs and is continuing, the trustee or the holders of at least 25% in principal amount of the then outstanding Notes may declare all the Notes to be due and payable immediately.

THE EXCHANGE OFFER

Purpose of the Exchange Offer

On March 9, 2011, we issued an aggregate principal amount of $250,000,000 of originalold notes under the indenture in an offering underpursuant to Rule 144A144 and Regulation S of the Securities Actin an offering that was not registered under the Securities Act. In connection with the issuance and sale of the originalold notes, we entered into a registration rights agreement with the initial purchasers of the originalold notes. Under the registration rights agreement, we agreed to file a registration statement regarding the exchange of the originalold notes for exchangenew notes which are registered under the Securities Act. We also agreed to use our commercially reasonable best efforts to cause the registration statement to become effective with the SEC and to conduct this exchange offer after the registration statement is declared effective. The form and terms of the exchangenew notes are substantially identical to the originalold notes except that the issuance of the exchangenew notes has been registered under the Securities Act and the transfer restrictions, registration rights and certain additional interest provisions relating to the originalold notes do not apply to the exchangenew notes. Under the registration rights agreement, we may be required to make additional payments in the form of additional interest to the holders of the originalold notes under circumstances relating to the timing of the exchange offer. The registration rights agreement provides that we will be required to pay additional interest to the holders of the originalold notes if the exchange offer is not consummated as of the 366th day after March 9, 2011by May 3, 2016 or a shelf registration statement is required to be filed under the registration rights agreement but has not been declared effective on or prior to date required by the registration rights agreement.

The registration rights agreement is filed as an exhibit to the registration statement of which this prospectus forms a part. This summary of certain provisions of the registration rights agreement does not purport to be complete and is subject to, and is qualified in its entirety by reference to, all the provisions of the registration rights agreement, a copy of which may be obtained as described under “Where You Can Find More Information.”

Resale of New Notes

Based on no-action letters of the staff of the SEC issued to third parties, we believe that new notes may be offered for resale, resold and otherwise transferred by you without further compliance with the registration and prospectus delivery provisions of the Securities Act if:

you are not an “affiliate” of ours within the meaning of Rule 405 under the Securities Act;

such new notes are acquired in the ordinary course of your business; and

you do not intend to participate in a distribution of the new notes.

The staff of the SEC, however, has not considered the exchange offer for the new notes in the context of a no-action letter, and the staff of the SEC may not make a similar determination as in the no-action letters issued to these third parties.

If you tender in the exchange offer with the intention of participating in any manner in a distribution of the new notes, you:

cannot rely on such interpretations by the staff of the SEC; and

must comply with the registration and prospectus delivery requirements of the Securities Act in connection with a secondary resale transaction.

Unless an exemption from registration is otherwise available, any securityholder intending to distribute new notes should be covered by an effective registration statement under the Securities Act. The registration statement should contain the selling securityholder’s information required by Item 507 or 508, as applicable, of Regulation S-K under the Securities Act.

This prospectus may be used for an offer to resell, resale or other transfer of new notes only as specifically described in this prospectus. If you are a broker-dealer, you may participate in the exchange offer only if you acquired the old notes as a result of market-making activities or other trading activities. Each broker-dealer that receives new notes for its own account in exchange for old notes, where such old notes were acquired by such broker-dealer as a result of market-making activities or other trading activities, must acknowledge by way of the letter of transmittal that it will deliver this prospectus in connection with any resale of the new notes. Please read the section captioned “Plan of Distribution” for more details regarding the transfer of new notes.

Terms of the Exchange Offer

UponSubject to the terms and conditions described in this prospectus and in the letter of transmittal, we will accept for exchange originalany old notes that are properly tendered on or before the expiration date and not withdrawn as permitted below. As used in this prospectus, the term “expiration date” meansprior to 5:00 p.m., New York City time, on , 2010. However, if we,the expiration date. We will issue new notes in our sole discretion, have extendedprincipal amount equal to the periodprincipal amount of timeold notes surrendered in the exchange offer. Old notes may be tendered only for whichnew notes and only in denominations of $2,000 and integral multiples of $1,000 in excess thereof. We will deliver the new notes promptly after the expiration date.

The exchange offer is open, the term “expiration date” means the latest time and date to which we extendednot conditioned upon any minimum aggregate principal amount of old notes being tendered in the exchange offer.

As of the date of this prospectus, $250,000,000$500 million aggregate principal amount of the original8.000% Senior Notes due 2023 representing old notes is outstanding. The original notes were offered under the indenture dated as of March 9, 2011. This prospectus and letter of transmittal is first being sent on or about                     , 2011to DTC, the sole registered holder of the old notes, and to all persons that we can identify as beneficial owners of the old notes. There will be no fixed record date for determining registered holders of originalold notes knownentitled to us. Our obligationparticipate in the exchange offer.

We intend to accept originalconduct the exchange offer in accordance with the provisions of the registration rights agreement, the applicable requirements of the Securities Act and the Exchange Act, and the rules and regulations of the SEC. Old notes whose holders do not tender for exchange in the exchange offer iswill remain outstanding and continue to accrue interest. These old notes will be entitled to the rights and benefits such holders have under the indenture relating to the notes and the registration rights agreement.

We will be deemed to have accepted for exchange properly tendered old notes when we have given oral or written notice of the acceptance to the exchange agent and complied with the applicable provisions of the registration rights agreement. The exchange agent will act as agent for the tendering holders for the purposes of receiving the new notes from us.

If you tender old notes in the exchange offer, you will not be required to pay brokerage commissions or fees or, subject to the conditions described under “—Conditionsletter of transmittal, transfer taxes with respect to the Exchange Offer.”exchange of old notes. We will pay all charges and expenses, other than certain applicable taxes described below, in connection with the exchange offer. Please read “—Fees and Expenses” for more details regarding fees and expenses incurred in connection with the exchange offer.

We will return any old notes that we do not accept for exchange for any reason without expense to their tendering holders promptly after the expiration or termination of the exchange offer.

Expiration Date

The exchange offer will expire at 5:00 p.m., New York City time, on                     ,          unless, in our sole discretion, we extend such deadline.

Extensions, Delays in Acceptance, Termination or Amendment

We expressly reserve the right, at any time or various times, to extend the period of time during which the exchange offer is open. We would thenmay delay acceptance for exchange of any originalold notes by giving oral (promptly followed in writing) or written notice of ansuch extension and delay to their holders at any time until the holders of original notes as described below.exchange offer expires or terminates. During any extension period,such extensions, all originalold notes previously tendered will remain subject to the exchange offer, and we may be acceptedaccept them for exchange.

To extend the exchange offer, we will notify the exchange agent orally or in writing of any extension. We will notify the holders of old notes of the extension via a press release issued no later than 9:00 a.m., New York City time, on the business day after the previously scheduled expiration date.

If any of the conditions described below under “—Conditions to the Exchange Offer” have not been satisfied, we reserve the right, in our sole discretion

to extend the exchange offer,

to delay accepting for exchange any old notes, or

to terminate the exchange offer,

by us. Any original notes not accepted for exchange will be returnedgiving oral (promptly followed in writing) or written notice of such delay, extension or termination to the tendering holder afterexchange agent. Subject to the expiration or terminationterms of the registration rights agreement, we also reserve the right to amend the terms of the exchange offer. Holdersoffer in any manner.

Any such delay in acceptance, extension, termination or amendment will be followed as promptly as practicable by oral (promptly followed in writing) or written notice thereof to holders of original notes do not have dissenters’ rightsthe old notes. Any notice relating to the extension of appraisal in connection with the exchange offer.offer will disclose the number of securities tendered as of the date of the notice, as required by Rule 14e-1(d) under the Exchange Act. If we amend the exchange offer in a manner that we determine to constitute a material change, we will promptly disclose such amendment by means of a prospectus supplement. The prospectus supplement will be distributed to holders of the old notes. Depending upon the significance of the amendment and the manner of disclosure to holders, we may extend the exchange offer if it would otherwise expire during such period. If an amendment constitutes a material change to the exchange offer, including the waiver of a material condition, we will extend the exchange offer, if necessary, to remain open for at least five business days after the date of the amendment. In the event of any increase or decrease in the consideration we are offering for the old notes or in the percentage of old notes being sought by us, we will extend the exchange offer to remain open for at least 10 business days after the date we provide notice of such increase or decrease to the registered holders of old notes.

YouIf we delay accepting any old notes or terminate the exchange offer, we will promptly pay the consideration offered, or return any old notes deposited, pursuant to the exchange offer as required by Rule 14e-1(c) under the Exchange Act.

Conditions to the Exchange Offer

We will not be required to accept for exchange, or exchange any new notes for, any old notes if the exchange offer, or the making of any exchange by a holder of old notes, would violate applicable law or policy of the staff of the SEC. Similarly, we may onlyterminate the exchange outstandingoffer as provided in this prospectus before expiration of the offer in the event of such a potential violation.

We will not be obligated to accept for exchange the old notes of any holder that has not made to us the representations described under “—Procedures for Tendering” and “Plan of Distribution” and such other representations as may be reasonably necessary under applicable SEC rules, regulations or interpretations to allow us to use an appropriate form to register the new notes under the Securities Act.

Additionally, we will not accept for exchange any old notes tendered, and will not issue new notes in denominationsexchange for any such old notes, if at such time any stop order has been threatened or is in effect with respect to the exchange offer registration statement of $2,000 and higher integral multipleswhich this prospectus constitutes a part or the qualification of $1,000.the indenture under the Trust Indenture Act of 1939, as amended.

We expressly reserve the right to amend or terminate the exchange offer, and not to acceptreject for exchange any originalold notes not previously accepted for exchange, upon the occurrence of any of the conditions ofto the exchange offer specified under “—Conditions to the Exchange Offer.” In the event of a material change in the

terms of the offer, we will extend the expiration date, if necessary, so that at least five business days remain in the offer period following notice of the material change.above. We will give to the exchange agent oral or written notice of any extension, amendment, non-acceptance or termination to the holders of the originalold notes as promptly as practicable.

These conditions are for our sole benefit, and we may assert them or waive them in whole or in part at any time or at various times prior to the expiration of the exchange offer in our sole discretion. If we fail at any time to exercise any of these rights, this failure will not mean that we have waived our rights. Each such right will be deemed an ongoing right that we may assert at any time or at various times prior to the expiration of the exchange offer.

Procedures for Tendering

To participate in the exchange offer, you must properly tender your old notes to the exchange agent as described below. We will only issue new notes in exchange for old notes that you timely and properly tender. Therefore, you should allow sufficient time to ensure timely delivery of the old notes, and you should follow carefully the instructions on how to tender your old notes. It is your responsibility to properly tender your old notes. We have the right to waive any defects. However, we are not required to waive defects, and neither we nor the exchange agent is required to notify you of any extension by means of a press releasedefects in your tender.

If you have any questions or other public announcement no later than 9:00 a.m., New York City time, on the business day following the previously scheduled expiration date.

Our acceptance of the tender of originalneed help in exchanging your old notes, by a tendering holder will form a binding agreement upon the terms and subject to the conditions provided in this prospectus. The exchange offer is not being made to holders of original notes in any jurisdiction where the exchange would not comply with the securities or blue sky laws of such jurisdiction.

Procedures for Tendering

The tender to us of original notes by you, as set forth below, and our acceptance of the original notes will constitute a binding agreement between us and you, upon the terms and subject to the conditions set forth in this prospectus.

A tendering holder who holds notes in the form of book-entry interests must, on or prior to the expiration date, transmit an agent’s message toplease call the exchange agent at thewhose address listed below under “—Exchange Agent.” In addition, the exchange agent must receive timely confirmation of book-entry transfer of the original notes into the exchange agent’s account at the Depository Trust Company, or DTC, the book-entry transfer facility, along with the agent’s message. The term “agent’s message” means a message transmitted to DTC and received by the exchange agent and forming a part of a book-entry transfer.

Only registered holders of certificated original notes may tender certificated notesphone number are described in the exchange offer. A tendering holder of certificated notes must, on or prior to the expiration date, transmit a written or facsimile copy of a properly completed and duly executed letter of transmittal including all other required documents,included as Annex A to the address listed belowthis prospectus and under “—“Prospectus Summary—The Exchange Offer—Exchange Agent.” In addition,

All of the exchange agent must receiveold notes were issued in book-entry form, and all of the certificates representing the originalold notes prior to the expiration date.

If you are a beneficial owner whose original notes arecurrently represented by global certificates registered in the name of a broker, dealer, commercial bank, trust company or otherCede & Co., the nominee and wish to tender, you should promptly instructof DTC. We have confirmed with DTC that the registered holder to tender on your behalf. Any registered holder that is a participant in DTC’s book-entry transfer facility systemold notes may make book-entry deliverybe tendered using ATOP. The exchange agent will establish an account with DTC for purposes of the original notesexchange offer promptly after the commencement of the exchange offer, and DTC participants may electronically transmit their acceptance of the exchange offer by causing DTC to transfer the originaltheir old notes into the exchange agent’s account.

We will determine in our sole discretion all questions as to the validity, form and eligibility of original notes tendered for exchange. This discretion extends to the determination of all questions concerning the timing of receipts and acceptance of tenders. These determinations will be final and binding.

We reserve the right to reject any particular original note not properly tendered, or any acceptance that might, in our judgment or our counsel’s judgment, be unlawful. We also reserve the right to waive any conditions of the exchange offer as applicable to all original notes prior to the expiration date. We also reserve the right to waive any defects or irregularities or conditions of the exchange offer as to any particular original note prior to the expiration date. Our interpretation of the terms and conditions of the exchange offer as to any particular original note either before or after the expiration date shall be final and binding on all parties. Unless waived, any defects or irregularities in connection with tenders of original notes must be cured within a reasonable period of time. None of us, the exchange agent or any other personusing the ATOP procedures. In connection with the transfer, DTC will be under any dutysend an “agent’s message” to give notification of any defect or irregularity in any tender of original notes. Nor will we, the exchange agent or any other person incur any liability for failingagent. The agent’s message will state that DTC has received instructions from the participant to give notification of any defect or irregularity.

By tendering, each holder representstender old notes and that the participant agrees to us that:

be bound by the holder is not an affiliate of CONSOL Energy (as defined in Rule 405 under the Securities Act) or a broker-dealer tendering notes acquired directly from us for its own account;

the exchange notes are being acquired in the ordinary course of businessterms of the person receivingletter of transmittal.

By using the ATOP procedures to exchange old notes, whether or not that person is the holder; and

neither the holder nor the other person has any arrangement or understanding with any person to participate in the distribution (within the meaning of the Securities Act) of the exchange notes.

In the case of a holder that is not a broker-dealer, that holder, by tendering, will also represent to us that the holder is not engaged in, and does not intend to engage in, a distribution of the exchange notes.

However, each holder who is our “affiliate” (within the meaning of the Securities Act) who intends to participate in the exchange offer for the purpose of distributing the exchange notes or a broker-dealer (within the meaning of the Securities Act) that acquired original notes in a transaction other than as part of its trading or market-making activities and who has arranged or has an understanding with any person to participate in the distribution of the exchange notes:

you will not be ablerequired to rely ondeliver a letter of transmittal to the applicable interpretationexchange agent. However, you will be bound by the staffits terms just as if you had signed it.

There is no procedure for guaranteed late delivery of the SEC set forth in the applicable no-action letters;old notes.

will not be able to tender its original notes in the exchange offer; and

must comply with the registration and prospectus delivery requirements of the Securities Act in connection with any sale or transfer of the notes unless such sale or transfer is made pursuant to an exemption from such requirements.

Each broker or dealerbroker-dealer that receives exchangenew notes for its own account in exchange for originalold notes, where the originalsuch old notes were acquired by itsuch broker-dealer as a result of market-making activities or other trading activities, must acknowledge that it will deliver a prospectus that meets the requirements of the Securities Act in connection with any resale of the exchangesuch new notes. By so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the Securities Act. However, a broker-dealer may be a statutory underwriter. SeePlease read “Plan of Distribution.”

Furthermore, any broker-dealer that acquired any of its original notes directly from us:

may not rely on the applicable interpretation of the staff of the SEC’s position contained inExxon Capital Holdings Corp., SEC no-action letter (April 13, 1988),Morgan, Stanley & Co. Inc., SEC no-action letter (June 5, 1991), andShearman & Sterling, SEC no-action letter (July 2, 1993); and

must also be named as a selling holder in connection with the registration and prospectus delivery requirements of the Securities Act relating to any resale transaction.

By delivering an agent’s message, a beneficial owner (whose original notes are registeredDeterminations in the nameExchange Offer

We will determine in our sole discretion all questions as to the validity, form, eligibility, time of a broker, dealer, commercial bank, trust company or other nominee) or holderreceipt, acceptance of tendered old notes and withdrawal of tendered old notes. Our determination will be deemedfinal and binding on all parties. We reserve the absolute right to have irrevocably appointedreject any old notes not properly tendered or any old notes our acceptance of which would, in the exchange agent as its agent and attorney-in-fact (with full knowledge that the exchange agent isopinion of our counsel, be unlawful. We also acting as an agent for us in connection with the exchange offer) with respect to the original notes, with full power of substitution (such power of attorney being deemed to be an irrevocable power coupled with an interest subject only toreserve the right to waive any defect, irregularities or conditions of withdrawal described in this prospectus),tender as to receive for our account all benefits and otherwise exercise all rightsparticular old notes. Our interpretation of beneficial ownership of such original notes, in accordance with the terms and conditions of the exchange offer.

Each beneficial owner or holder will also be deemed to have represented and warranted to us that it has authority to tender, exchange, sell, assign and transferoffer, including the original notes it tenders and that, when the same are

accepted for exchange, we will acquire good, marketable and unencumbered title to such original notes, free and clear of all liens, restrictions, charges and encumbrances, and that the original notes tendered are not subject to any adverse claims or proxies. Each beneficial owner and holder, by tendering its original notes, also agrees that it will comply with its obligations under the registration rights agreement.

Guaranteed Delivery Procedures

Holders who wish to tender their original notes and

whose original notes are not immediately available;

who cannot deliver their original notes,instructions in the letter of transmittal, will be final and binding on all parties. Unless waived, all defects or irregularities in connection with tenders of old notes must be cured within such time as we shall determine. Although we intend to notify holders of defects or irregularities with respect to tenders of old notes, neither we, the exchange agent nor any other required documentsperson will incur any liability for failure to give such notification. Tenders of old notes will not be deemed made until such defects or irregularities have been cured or waived. Any old notes received by the exchange agent that are not properly tendered and as to which the defects or irregularities have not been cured or waived will be returned to the tendering holder promptly upon expiration or termination of the exchange offer.

When We Will Issue New Notes

In all cases, we will issue new notes for old notes that we have accepted for exchange in the exchange offer only after the exchange agent receives, prior to 5:00 p.m., New York City time, on the expiration datedate:

a book-entry confirmation of such old notes into the exchange agent’s account at DTC; and

a properly transmitted agent’s message.

Return of Old Notes Not Accepted or Exchanged

If we do not accept any tendered old notes for exchange or if old notes are submitted for a greater principal amount than the holder desires to exchange, the unaccepted or non-exchanged old notes will be returned without expense to their tendering holder. Such non-exchanged old notes will be credited to an account maintained with DTC. These actions will occur promptly upon the expiration or termination of the exchange offer; oroffer.

Your Representations to Us

By agreeing to be bound by the letter of transmittal, you will represent to us that, among other things:

any new notes that you receive will be acquired in the ordinary course of your business;

 

who cannot completeyou have not engaged in and have no intent to engage in (nor have you entered into any arrangement or understanding with any person or entity to participate in) a distribution of the proceduresnew notes in violation of the provisions of the Securities Act;

you are not an “affiliate” (within the meaning of Rule 405 under the Securities Act) of CONSOL Energy Inc. or the guarantors; and

if you are a broker-dealer that will receive new notes for deliveryyour own account in exchange for old notes that were acquired as a result of market-making activities or other trading activities, then you will deliver a prospectus (or to the extent permitted by book-entry transferlaw, make available a prospectus to purchasers) in connection with any resale of the new notes.

Withdrawal of Tenders

Except as otherwise provided in this prospectus, you may withdraw your tender at any time prior to 5:00 p.m., New York City time, on the expiration datedate. For a withdrawal to be effective you must comply with the

appropriate ATOP procedures. Any notice of the exchange offer,

may effect a tender if:

the tender is made by or through an “eligible guarantor institution;”

prior to 5:00 p.m., New York City time, on the expiration date of the exchange offer, the exchange agent receives from such “eligible guarantor institution” a properly completed and duly executed Notice of Guaranteed Delivery, by facsimile transmission, mail or hand delivery, setting forthwithdrawal must specify the name and addressnumber of the holder of the original notes, the certificate number or numbers of such original notes and the principal amount of original notes tendered, stating that the tender is being made thereby, and guaranteeing that, within three business days after the expiration date, a letter of transmittal, or facsimile thereof or agent’s message in lieu of such letter of transmittal, together with the certificate(s) representing the original notes to be tendered in proper form for transfer and any other documents required by the letter of transmittal will be deposited by the eligible guarantor institution with the exchange agent; and

a properly completed and duly executed letter of transmittal (or facsimile thereof) together with the certificate(s) representing all tendered original notes in proper form for transfer, or an agent’s message in the case of delivery by book-entry transfer, and all other documents required by the letter of transmittal are received by the exchange agent within three business days after the expiration date.

Acceptance of Original Notes for Exchange; Delivery of Exchange Notes

Upon satisfaction or waiver of all of the conditions to the exchange offer, we will accept, promptly after the expiration date, all original notes properly tendered, unless we terminate the exchange offer because of the non-satisfaction of conditions. We will issue the exchange notes promptly after acceptance of the original notes. For purposes of the exchange offer, we will be deemed to have accepted properly tendered original notes for exchange when, as and if we have given oral or written notice to the exchange agent, with prompt written confirmation of any oral notice. See “—Conditions to the Exchange Offer” below for a discussion of the conditions that must be satisfied before we accept any original notes for exchange.

For each original note accepted for exchange, the holder of the original note will receive an exchange note having a principal amount equal to that of the surrendered original note. The exchange notes will bear interest from the most recent date to which interest has been paid on the original notes. Accordingly, registered holders of exchange notes on the relevant record date for the first interest payment date following the completion of the exchange offer will receive interest accruing from the most recent date to which interest has been paid or, if no interest has been paid on the original notes, from March, 9, 2011. Original notes accepted for exchange will cease to accrue interest from and after the date of completion of the exchange offer. Holders of original notes whose

original notes are accepted for exchange will not receive any payment for accrued interest on the original notes otherwise payable on any interest payment date, the record date for which occurs on or after completion of the exchange offer and will be deemed to have waived their rights to receive the accrued interest on the original notes.

In all cases, issuance of exchange notes for original notes will be made only after timely receipt by the exchange agent of an agent’s message and a timely confirmation of the book-entry transfer of the original notes into the exchange agent’s account at DTC.

Unaccepted or non-exchanged original notes will be returned without expense to the tendering holder of the original notes. The non-exchanged original notes will be credited to an account maintained with DTC promptly after the expiration of the exchange offer.

Book-Entry Transfer

The exchange agent will make a request to establish an account for the original notes at DTC for purposes of the exchange offer within two business days after the date of this prospectus. Any financial institution that is a participant in DTC’s systems must make book-entry delivery of original notes by causing DTC to transfer those original notes into the exchange agent’s account at DTC in accordanceto be credited with DTC’s procedure for transfer. This participant should transmit its acceptance to DTC on or prior to the expiration date. DTC will verify this acceptance, execute a book-entry transfer of the tendered original notes into the exchange agent’s account at DTC and then send to the exchange agent confirmation of this book-entry transfer. The transmission of the originalwithdrawn old notes and agent’s message to DTC and delivery by DTC to and receipt by the exchange agent of the related agent’s message will be deemed to be a valid tender.

Exchanging Book-Entry Notes

The exchange agent and the book-entry transfer facility have confirmed that any financial institution that is a participant in the book-entry transfer facility may utilize the book-entry transfer facility’s Automated Tender Offer Program, or ATOP, procedures to tender original notes. Any participant in the book-entry transfer facility may make book-entry delivery of original notes by causing the book-entry transfer facility to transfer such original notes into the exchange agent’s account in accordanceotherwise comply with the book-entry transfer facility’s ATOP procedures for transfer. However, the exchange for the original notes so tendered will only be made after a book-entry confirmation of the book-entry transfer of original notes into the exchange agent’s account, and timely receipt by the exchange agent of an agent’s message and any other documents required by the letter of transmittal. Delivery of documents to DTC in accordance with DTC’s procedures does not constitute delivery to the exchange agent. The term “agent’s message” means a message, transmitted by the book-entry transfer facility and received by the exchange agent and forming part of a book-entry confirmation, which states that the book-entry transfer facility has received an express acknowledgment from a participant tendering original notes that are the subject of such book-entry confirmation that such participant has received and agrees to be bound by the terms of the exchange offer as described in this prospectus, and that we may enforce such terms against such participant.procedures.

Withdrawal Rights

Tenders of original notes may be withdrawn at any time before 5:00 p.m., New York City time, on the expiration date.

For a withdrawal of a tender of original notes to be effective, the exchange agent must receive a valid withdrawal request through ATOP from the tendering DTC participant before the expiration date. Any such request for withdrawal must include the VOI number of the tender to be withdrawn and the name of the ultimate beneficial owner of the related original notes in order that such bonds may be withdrawn.

We will determine all questions as to the validity, form, and eligibility includingand time of receipt of noticesa notice of withdrawal. Any originalOur determination shall be final and binding on all parties. We will deem any old notes so withdrawn will be deemed not to have been validly tendered for exchange. No exchange notes will be issued unlessfor purposes of the original notes so withdrawn are validly re-tendered. exchange offer.

Any originalold notes that have been tendered for exchange but whichthat are not exchanged for any reason will be returned to the tendering holder without cost to the holder. The original notes will be credited to an account maintained with DTC for the originalold notes. The original notesThis return or crediting will be credited to the DTC accounttake place promptly afterupon withdrawal, rejection of tender, expiration or termination of the exchange offer. ProperlyYou may retender properly withdrawn originalold notes may be re-tendered by following the procedures described under the heading “—Procedures for Tendering” above at any time on or before 5:00 p.m., New York City time, on the expiration date.

Conditions to the Exchange Offer

Notwithstanding any other provision of the exchange offer, we will not be required to accept for exchange, or to issue exchange notes in exchange for, any original notes, and may terminate or amend the exchange offer, if at any time prior to the expiration date any of the following events occurs:

there is threatened, instituted or pending any action or proceeding before, or any injunction, order or decree issued by, any court or governmental agency or other governmental regulatory or administrative agency or commission which, in our judgment, would reasonably be expected to impair our ability to proceed with the exchange offer;

a change in applicable law prohibits the consummation of such exchange offer; or

any change, or any development involving a prospective change, has occurred or been threatened in our business, financial condition, operations or prospects and those of our subsidiaries taken as a whole that is or may be adverse to us, or we have become aware of facts that have or may have an adverse impact on the value of the original notes or the exchange notes, which in our reasonable judgment in any case makes it inadvisable to proceed with the exchange offer and about which change or development it makes a public announcement.

All conditions will be deemed satisfied or waived prior to the expiration date unless we assert them prior to the expiration date. The foregoing conditions to the exchange offer are for our sole benefit, and we may assert them prior to the expiration date regardless of the circumstances giving rise to any of these conditions, or we may waive them prior to the expiration date in whole or in part in our reasonable discretion. Our failure at any time to exercise any of the foregoing rights will not be deemed a waiver of any right.

In addition, we will not accept for exchange any original notes tendered, and no exchange notes will be issued in exchange for any original notes, if at the time the original notes are tendered any stop order is threatened or in effect relating to the registration statement of which this prospectus constitutes a part. We are required to make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of a registration statement at the earliest possible moment.

Exchange Agent

We have appointed The Bank of Nova Scotia Trust Company of New York as the exchange agent for the exchange offer. You should direct questions and requests for assistance and requests for additional copies of this prospectus or the related letter of transmittal and notice of guaranteed delivery to the exchange agent addressed as follows:

Delivery To:

The Bank of Nova Scotia Trust Company of New York

By Hand, Registered or Certified Mail, or Overnight Courier:

The Bank of Nova Scotia Trust Company of New York

Attention: Pat Keane

One Liberty Plaza

New York, NY 10006

By Facsimile: (212) 225-5436

(Eligible Guarantor Institutions only)

To confirm by telephone for more information: (212) 225-5427

(Eligible Guarantor Institutions Only)

Reference: CONSOL Energy Inc. Exchange

All other questions should be addressed to CONSOL Energy Inc., CNX Center, 1000 CONSOL Energy Drive, Canonsburg, PA 15317-6505, Attn. General Counsel.

Fees and Expenses

We will bear the expenses of soliciting tenders. The principal solicitation is being made by mailmail; however, we may make additional solicitation by the exchange agent. Additional solicitation may be made bye-mail, telephone facsimile or in person by our officers and regular employees and by persons so engaged bythose of our affiliates.

We have not retained any dealer-manager in connection with the exchange agent.

offer and will not make any payments to broker-dealers or others soliciting acceptances of the exchange offer. We will, however, pay the exchange agent reasonable and customary fees for its services and will reimburse it for its related reasonable out-of-pocket expenses.

We will pay the cash expenses to be incurred in connection therewith and pay otherwith the exchange offer. They include SEC registration expenses, includingfees, fees and expenses of the exchange agent and trustee, under the indenture, filing fees, blue skyaccounting and legal fees and printing costs and distributionrelated fees and expenses. We will not make any payment to brokers, dealers or others soliciting acceptances of the exchange offer.

Accounting Treatment

We will not recognize any gain or loss for accounting purposes upon the consummation of the exchange offer. We will amortize the expense of the exchange offer over the term of the exchange notes in accordance with accounting principles generally accepted in the United States of America.

Transfer Taxes

We will pay all transfer taxes, if any, in connection withapplicable to the exchange of originalold notes for exchangenew notes in the exchange offer. TheEach tendering holder, however, will be required to pay any transfer taxes, whether imposed on the recordregistered holder or any other person, if we are instructed to registera transfer tax is imposed for any reason other than the exchange of old notes for new notes in the nameexchange offer.

Consequences of or requestedFailure to return any originalExchange

If you do not exchange your old notes not tendered or not acceptedfor new notes in the exchange offer, the old notes you hold will remain outstanding and continue to a person other than the registered tendering holder.

Consequences of Exchanging or Failing to Exchange the Original Notes

Holders of original notes who do not exchange their original notes for exchange notes in the exchange offeraccrue interest, but will continue to be subject to the provisions in the indenture regarding transfer and exchange of the original notes and theexisting restrictions on transfer of the original notes as described in the legend on the original notes as a consequence of the issuance of the original notes under exemptions from, or in transactions not subject to, the

registration requirements of the Securities Act and applicable state securities laws.transfer. In general, the original notesyou may not be offeredoffer or sold, unless registered undersell the Securities Act,old notes except under an exemption from, or in a transaction not subject to, the Securities Act and applicable state securities laws. Original note holders thatAfter the expiration of this exchange offer, we do not intend to register old notes under the Securities Act unless the registration rights agreement requires us to do so.

Accounting Treatment

We will record the new notes in our accounting records at the same carrying value as the old notes. This carrying value is the aggregate principal amount of the old notes, as reflected in our accounting records on the date of exchange. Accordingly, we will not recognize any gain or loss for accounting purposes in connection with the exchange original notes foroffer, other than the recognition of the fees and expenses of the exchange notesoffer as stated under “—Fees and Expenses.”

Other

Participation in the exchange offer willis voluntary, and you should consider carefully whether to accept. You are urged to consult your financial and tax advisors in making your own decision on what action to take.

We may in the future seek to acquire untendered old notes in open market or privately negotiated transactions, through subsequent exchange offers or otherwise. We have no longer havepresent plans to acquire any registration rights with respect to such notes.

Based on existing interpretations of the Securities Act by the SEC’s staff contained in several no-action letters to third parties unrelated to us, and subject to the immediately following sentence, we believeold notes that the exchange notes would generally be freely transferable by holders after the exchange offer without further registration under the Securities Act, subject to certain representations required to be made by each holder of exchange notes, as set forth below. However, any purchaser of exchange notes who is one of our “affiliates” (as defined in Rule 405 under the Securities Act) or who intends to participateare not tendered in the exchange offer or to file a registration statement to permit resales of any untendered old notes.

DESCRIPTION OF OTHER INDEBTEDNESS

Revolving Credit Facility

On April 12, 2011, we entered into a five-year, $1 billion revolving credit facility (the “2011 Revolving Credit Facility”) pursuant to an amended and restated credit agreement with certain lenders and PNC Bank, National Association as administrative agent for the purposelenders, which was amended by Amendment No. 1, dated as of distributingDecember 5, 2013. The 2011 Revolving Credit Facility was used for general corporate purposes, including letters of credit, capital expenditures, acquisitions and working capital. The 2011 Revolving Credit Facility was secured by the exchange notes:assets of CONSOL Energy and certain of its subsidiaries.

will not be ableAlso on April 12, 2011, CNX Gas, entered into a revolving credit facility pursuant to rely onan amended and restated credit agreement with certain lenders, with PNC Bank, National Association, acting as administrative agent (the “CNX Gas Revolving Credit Facility”, and together with the applicable interpretation2011 Revolving Credit Facility, the “Prior Credit Facilities”). The CNX Gas Revolving Credit Facility provided for a revolving credit facility in an initial aggregate outstanding principal amount of up to $1.0 billion (with the staff of the SEC;

will not be ableability to tender its original notesrequest an increase in the exchange offer;aggregate outstanding principal amount up to $1.25 billion), including borrowings and

must comply with letters of credit. The borrowings under the registrationCNX Gas Revolving Credit Facility were used by CNX Gas for general corporate purposes, including, transaction fees, letters of credit, acquisitions, capital expenditures and prospectus delivery requirementsworking capital. The obligations of CNX Gas under the Securities ActCNX Gas Revolving Credit Facility were secured by the assets of CNX Gas and certain of its subsidiaries.

On June 18, 2014, the Prior Credit Facilities were refinanced in connection with the establishment by CONSOL Energy of a five-year, $2 billion revolving credit facility (the “Revolving Credit Facility”) pursuant to a credit agreement with certain lenders and PNC Bank, National Association as administrative agent.

The Revolving Credit Facility was used to refinance all amounts outstanding under the Prior Credit Facilities and is now used for general corporate purposes, including letters of credit, capital expenditures, acquisitions and working capital. CONSOL Energy may borrow, prepay and reborrow amounts at any sale or transfertime during the term of the notes unlessRevolving Credit Facility. The Revolving Credit Facility will mature on June 18, 2019. Interest on outstanding indebtedness under the Revolving Credit Facility currently accrues, at our option, at a rate based on either: (a) the highest of (i) PNC Bank, National Association’s prime rate, (ii) the federal funds open rate plus 0.5%, and (iii) the daily LIBOR rate plus 1.0%, in each case, plus a margin ranging from 0.50% to 1.50% or (b) the LIBOR rate plus a margin ranging from 1.50% to 2.00%. The applicable margin added to the underlying interest rate fluctuates based on the aggregate outstanding principal under the Revolving Credit Facility with the margin increasing as the outstanding principal amount increases.

The Revolving Credit Facility contains certain covenants and restrictions that limit the ability of CONSOL Energy and certain of its subsidiaries to, among other things:

create, incur, assume or suffer to exist any indebtedness;

create or permit to exist liens on its properties;

guaranty the debt of another party except in certain circumstances;

make or pay any dividends or distributions to third parties in excess of certain amounts;

merge with or into another person, liquidate or dissolve; or acquire all or substantially all of the assets of any going concern or going line of business or acquire all or a substantial portion of another person’s assets (other than when certain liquidity and other requirements are met);

make particular investments and loans;

sell, transfer, convey, assign or dispose of its assets or properties other than in the ordinary course of business and other select instances;

deal with any affiliate except on terms no less favorable to CONSOL Energy than it would otherwise receive in an arm’s length transaction;

other than CONSOL Energy, issue additional equity to any person other than CONSOL Energy or certain of its subsidiaries; and

amend its certificate of incorporation, bylaws, or other organizational documents in a manner that would be materially adverse to the lenders;

The Revolving Credit Facility imposes the following additional obligations and restrictions (with certain limited exceptions) on, among others, CONSOL Energy and certain of its subsidiaries:

Ratios. CONSOL Energy is obligated to maintain minimum current ratio equal to or greater than 1.00 to 1.0, as calculated in accordance with the terms and definitions determining such ratio contained in the Revolving Credit Facility. CONSOL Energy is obligated to maintain an interest coverage ratio equal to or greater than 2.50 to 1.0, as calculated in accordance with the terms and definitions determining such ratio contained in the Revolving Credit Facility.

Defaults. The Revolving Credit Facility also contains customary events of default, including a cross-default to certain other debt, breaches of representations and warranties, change of control events and breaches of covenants.

Security. The Revolving Credit Facility is secured by the assets of CONSOL Energy and substantially all of its subsidiaries.

On May 22, 2015, the Revolving Credit Facility was amended (the “Amendment”) to allow for, among other things, spinoffs, or other public equity offering transactions, in regard to subsidiaries that own certain coal assets and all arrangements, actions and transactions in connection therewith. The Amendment also permits the incurrence of a term loan facility and a revolving credit facility at those subsidiaries owning certain coal assets.

Accounts Receivables Securitization Facility

In 2007, we and certain of our U.S. subsidiaries amended and restated our accounts receivable facility with certain financial institutions for the sale or transfer is madeon a continuous basis of eligible trade accounts receivable. The amended facility allowed us to receive, on a revolving basis, up to $125 million. The amended facility also allowed for the issuance of letters of credit against the $125 million capacity.

In accordance with the amended facility, we were able to receive proceeds based upon total eligible accounts receivable at the previous month-end. We formed CNX Funding Corporation, a wholly owned, special purpose, bankruptcy-remote subsidiary for the sole purpose of buying and selling eligible trade receivables generated by certain of our subsidiaries. Under the amended facility, we and certain of our subsidiaries, irrevocably and without recourse, sold all of our eligible trade accounts receivable to CNX Funding Corporation. CNX Funding Corporation would then sell, on a revolving basis, an undivided percentage interest in the pool of eligible trade accounts receivable to financial institutions and their affiliates, while maintaining a subordinated interest in a portion of the trade receivables. We agreed to continue servicing the sold receivables for the financial institutions for a fee based upon market rates for similar services.

On July 7, 2015, we and certain of our subsidiaries entered into a payoff letter with the financial institutions party to the amended facility pursuant to an exemption from such requirements. See “Plan of Distribution.”

We do not intend to seek our own interpretation regardingwhich the exchange offeramended facility was paid off in full and there can be no assurance that the SEC’s staff would make a similar determination with respect to the exchange notes as it has in other interpretations to other parties, although we have no reason to believe otherwise.all lender commitments thereunder were terminated.

DESCRIPTION OF EXCHANGE NOTESExisting Senior Notes

CONSOL Energy issuedSet forth in the originaltable below are each of our series of senior notes and will issue the exchange notes offered hereby (the “Notes”) under the Indenture datedoutstanding as of March 9, 2011 (as supplemented through the date of this prospectus (our “existing senior notes”) as well as the amounts of each such series of existing senior notes outstanding as of the date indicated.

(in thousands)

  Amount Outstanding as
of September 30, 2015
 

8.25% senior notes due 2020

  $74,470  

6.375% senior notes due 2021

  $20,611  

5.875% senior notes due 2022(1)

  $1,855,840  

8.000% senior notes due 2023(1)

  $493,213  

(1)Amount outstanding includes amortization of bond premium.

Each series of our existing senior notes is guaranteed by certain of our subsidiaries. Interest on each series of our existing senior notes is payable semi-annually in arrears.

Optional Redemption

Each series of our existing senior notes is redeemable at any time prior to certain dates specified in the indenture governing such series notes, at a price equal to 100% of the principal amount thereof, plus a make-whole premium and accrued and unpaid interest, if any, to the applicable redemption date.

In addition, on or after certain dates specified in the indenture governing each series of our existing senior notes, the applicable series of existing senior notes are redeemable in whole or in part, at fixed redemption prices plus accrued and unpaid interest, if any, to the redemption date.

Further, we may redeem up to 35% of each of series of our existing senior notes in an amount equal to the net cash proceeds we receive from certain qualified equity offerings if such redemption takes place prior to a date specified in the indenture governing such series of notes.

Change of Control and Covenants

Upon a change of control, each noteholder of our existing senior notes will be entitled to require us to purchase all or a portion of its notes at a purchase price of 101% plus accrued and unpaid interest, if any. In addition, our existing senior notes contain various covenants that limit, among other things, our ability, and the ability of certain of our subsidiaries, to:

incur additional indebtedness;

pay distributions on, or repurchase or redeem our equity interests;

make certain investments;

incur liens;

enter into certain types of transactions with affiliates; and

sell assets or consolidate or merge with or into other companies.

If the existing senior notes achieve investment grade ratings by both Moody’s and Standard & Poor’s and no default or event of default has occurred and is continuing, we will no longer be subject to many of the foregoing covenants. At September 30, 2015, we were in compliance with these covenants.

MEDCO Bonds

As of September 30, 2015, we had approximately $103 million outstanding of our Maryland Economic Development Corporation Port Facilities Refunding Revenue Bonds (MEDCO) 5.75% revenue bonds due September 2025.

DESCRIPTION OF NEW NOTES

We are offering to exchange up to $500 million aggregate principal amount of our new 8.000% Senior Notes due 2023, which have been registered under the Securities Act, referred to in this prospectus as the “new notes,” for any and all of our outstanding unregistered 8.000% Senior Notes due 2023, referred to in this prospectus as the “old notes.” We issued $500 million aggregate principal amount of old notes on March 30, 2015 in a transaction exempt from registration under the Securities Act. We are offering new notes to the holders of the old notes in exchange for such notes in order to satisfy our registration obligations under the registration rights agreement that we entered into in connection with the issuance of the old notes.

The new notes will be treated as a single class with any old notes that remain outstanding after the completion of the exchange offer. The new notes will be issued, and the old notes are currently outstanding, under an indenture dated as of March 30, 2015 (the “Indenture”), among CONSOL Energy,the Company, the Guarantors (as defined below) and TheWells Fargo Bank National Association, as trustee (the “Trustee”), as supplemented and amended. You can find the definition of Nova Scotia Trust Companyvarious terms used in this Description of New York, as trustee. TheNotes under “—Certain Definitions” below.

This Description of New Notes is intended to be a useful overview of the material provisions of the new notes, the guarantees and the Indenture. Since this Description of New Notes is only a summary, you should refer to the Indenture has beenwhich is filed as an exhibit to the registration statement of which this prospectus is part. The Indenture complies with the Trust Indenture Acta part for a complete description of 1939. The terms of the notes include those stated in the Indentureour obligations and those made part of the Indenture by reference to the Trust Indenture Act.

On March 9, 2011, CONSOL Energy issued $250 million aggregate principal amount of original notesyour rights under the Indenture. The terms of the exchange notes will be identical in all material respects to the terms of the original notes, except for certain transfer restrictions and registration and other rights relating to the exchange of the original notes for exchange notes. The Bank of Nova Scotia Trust Company of New York, as trustee, will authenticate and deliver exchange notes for original issue in exchange for a like principal amount of original notes.

Description of Notes

Certain terms used inIn this description, are defined under the subheading “—Certain definitions.” As used in this section, the terms “Company,” “we,” “us” and “our” refer only to CONSOL Energy Inc., the issuer of the new notes offered hereby, and not to any of its subsidiaries.

subsidiaries;provided that following an E&P Spin Transaction constituting a Qualified Spin Transaction, “Company” shall refer to the Person designated by CONSOL Energy Inc. as provided in the definition of “Qualified Spin Transaction.” The termsterm “Notes” in this section of the Notes include those stated inprospectus includes the Indenture and those made partold notes issued on March 30, 2015 as well as the new notes, unless the context otherwise requires.

If the exchange offer is consummated, Holders of the Indenture by reference to the Trust Indenture Act of 1939 (the “Trust Indenture Act”). The following description is only a summary of the material provisions of the Indenture. We urge you to read the Indenture because it,old notes who do not this description, defines your rights asexchange their old notes for new notes will vote together with the Holders of the Notes. You may request copiesnew notes for all relevant purposes under the Indenture. In that regard, the Indenture requires that certain actions by the Holders under the Indenture (including acceleration after an Event of Default as defined in “—Defaults” below) must be taken, and certain rights must be exercised, by Holders of specified minimum percentages of the aggregate principal amount of all outstanding Notes issued under the Indenture. In determining whether Holders of the requisite percentage in aggregate principal amount of Notes have given any notice, consent or waiver or taken any other action permitted or required under the Indenture, any old notes that remain outstanding after the exchange offer will be aggregated with the new notes, and the registrationHolders of these old notes and the new notes will vote together as a single class for all such purposes. Accordingly, all references in this Description of New Notes to specified percentages in aggregate principal amount of the outstanding Notes mean, at any time after the exchange offer for the old notes is consummated, such percentage in aggregate principal amount of such old notes and the new notes then outstanding.

The registered Holder of a Note will be treated as the owner of it for all purposes. Only registered Holders will have rights agreement at our address set forth under the heading “Where You Can Find More Information.”Indenture.

General

The Company issued $250.0 million of 6.375% Senior Notes due 2021 (the “Notes”) under an indenture, dated as of March 9, 2011 (the “Indenture”), among the Company, the Subsidiary Guarantors (as defined below) and The Bank of Nova Scotia Trust Company of New York as Trustee.

Principal of and interest on the Notes will be payable, and the Notes may be exchanged or transferred, at our office or agency in the Borough of Manhattan, The City and State of New York (which initially shall be the corporate trust office of the Trustee), except that, at our option, payment of interest may be made by check mailed to the address of the Holders as such address appears in the note register.

The Notes will be issued only in fully registered form, without coupons, in denominations of $2,000 and any integral multiple of $1,000 in excess thereof. No service charge shall be made for any registration of transfer or exchange of Notes, but we may require payment of a sum sufficient to cover any transfer tax or other similar governmental charge payable in connection therewith.

Subject to the covenants described below under “—Certain covenants” and applicable law,Covenants,” the Company may issue additional Notes (the “Additional Notes”) under the Indenture in unlimited principal amounts.amounts (any Notes so issued, “Additional Notes”). The Notes and any Additional Notes subsequently issued under the Indenture would be treated as a single class for all purposes under the Indenture, in each case including without limitation, waivers, amendments, redemptions and offers to purchase. Unless the context otherwise requires, for all purposes of the Indenture and this “Description of theNew Notes,” references to the Notes include any Additional Notes actually issued.

Terms of the Notes

The $250.0$500 million aggregate principal amount of Notesnew notes offered hereby will be unsecured senior obligations of the Company. The Notes will mature on MarchApril 1, 20212023 and bear interest at the rate per annum shown on the

cover page hereofof the prospectus from the date of original issuance, or from the most recent date to which interest has been paid or provided for, payable semiannually to Holders of record at the close of business (whether or not a Business Day) on the FebruaryMarch 15 or AugustSeptember 15 immediately preceding the interest payment date on MarchApril 1 and SeptemberOctober 1 of each year, beginning SeptemberApril 1, 2011. Interest2015. If a payment date falls on overdue principala day that is not a Business Day, the payment made on such payment date will be made on the next succeeding Business Day with the same force and (to the extent permitted by law)effect as if made on overdue installments ofsuch payment date, and no additional interest will accrue, at 1% per annum in excessor default will occur, as a result of such rate.delayed payment. Interest on the Notes will be computed on the basis of a 360-day year of twelve 30-day months.

Optional redemptionRedemption

Except as set forth in the following two paragraphs or the last paragraph under the caption “—Change of Control,” the Notes will not be redeemable at the option of the Company prior to MarchApril 1, 2016.2018. Thereafter, the Notes will be redeemable, at our option, in whole or in part, at any time or from time to time, upon not less than 30 nor more than 60 days’ prior notice mailedas described below under “—Selection and Notice,” given by first-classfirst class mail to each Holder’s registered address (or sent electronically if The Depository Trust Company (“DTC”) is the recipient), at the following redemption prices (expressed in percentages of principal amount on the redemption date)amount), plus accrued and unpaid interest (including additional interest, if any) to, but not including, the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the 12-month period commencing on March 1April 15 of the years set forth below:

 

Period

  Redemption
price
 

2016

   103.188

2017

   102.125

2018

   101.062

2019 and thereafter

   100.000

Year

  Percentage 

2018

   106.000

2019

   104.000

2020

   102.000

2021 and thereafter

   100.000

Prior to MarchApril 1, 2014,2018, we may at our option on one or more occasions redeem the Notes (which includes Additional Notes, if any) in an aggregate principal amount not to exceed 35% of the aggregate principal amount of the Notes (which includes Additional Notes, if any) originally issued at a redemption price (expressed as a percentage of principal amount) of 106.375%108.000%, plus accrued and unpaid interest (including additional interest, if any) to, but not including, the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date), with an amount of cash equal to the net cash proceedsNet Cash Proceeds from one or more Stock Offerings;provided that at least 65% of suchthe aggregate principal amount of Notes (which includes Additional Notes, if any)issued on the Issue Date (including, for the avoidance of doubt, outstanding old notes) remains outstanding immediately after the occurrence of each such redemption (excluding Notes held directly or indirectly, by the Company or its Affiliates)Subsidiaries) and each such redemption occurs within 60180 days after the date of consummation of the relatedsuch Stock Offering.Offerings.

In addition, at any time and from time to time prior to MarchApril 1, 2016,2018, upon not less than 30 nor more than 60 days’ prior notice mailedas described below under “—Selection and Notice,” given by first-classfirst class mail to each Holder’s registered address (or sent electronically if DTC is the recipient), the Company may redeem the Notes, in whole but notor in part, at a redemption price equal to 100% of the principal amount thereof plus the Applicable Premium, plus accrued and unpaid interest, (including additional interest, if any), if any, to, but not including, the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date).

Selection and Notice

In the case of any partial redemption, selection of the Notes for redemption will be made by the Trustee on apro rata basis by lot(or, in the case of Notes issued in global form as discussed under the caption “—Book-Entry, Delivery and Form,” based on such method as DTC or byits nominee or successor may require or, where such othernominee or successor is the Trustee, such method that most nearly approximatespro rata selection as the Trustee in its sole discretion shall deem to bedeems fair and appropriate, although nounless otherwise required by law).

No Note of $2,000 in original principal amount or less shallcan be redeemed in part. Notices of redemption will be mailed by first class mail (or sent electronically if DTC is the recipient) at least 30 but not more than 60 days before the redemption date to each Holder of Notes to be redeemed at its registered address, except that redemption notices may be sent more than 60 days prior to a redemption date if the notice is issued in connection with a defeasance of the Notes or a satisfaction and discharge of the Indenture. Notices of redemption may be subject to one or more conditions specified in the notice of redemption.

If any Note is to be redeemed in part only, the notice of redemption relating to such Note shall state the portion of the principal amount thereof to be redeemed. A new Notenote in principal amount equal to the unredeemed portion thereof will be issued in the name of the Holder thereof upon cancellation of the original Note.

old note. Notes called for redemption without condition become due on the date fixed for redemption. On and after the redemption date, interest ceases to accrue on Notes or portions of them called for redemption.

redemption, unless the Company has defaulted in the payment of the redemption price.

Mandatory redemption; offersRedemption; Offers to purchase; open market purchasesPurchase; Open Market Purchases

We are not required to make any mandatory redemption or sinking fund payments with respect to the Notes. However, under certain circumstances, we may be required to offer to purchase Notes as described under the captions “—Change of control”Control” and “—Certain covenants—Covenants—Limitation on salesSales of assetsAssets and subsidiary stock.Subsidiary Stock.” We may at any time and from time to time purchaseacquire Notes in theby means other than a redemption, whether pursuant to a tender offer, open market purchase or otherwise.

Guarantees

The Subsidiary Guarantors, jointly and severally, as primary obligors and not merely as sureties, will irrevocably, fully and unconditionally guaranteeGuarantee (each, a “Subsidiary Guarantee”) on a senior basis the performance and the punctual payment when due, whether at Stated Maturity, by acceleration or otherwise, all of the obligations of the Company under the Indenture and the Notes (all such obligations guaranteed by the Subsidiary Guarantors being herein called the “Guaranteed Obligations”).Notes. The Company derives a substantial portion of its operating income and cash flow from its subsidiaries,Subsidiaries, including the Subsidiary Guarantors.

Each Subsidiary Guarantee will be limited in amount to an amount not to exceed the maximum amount that can be guaranteedGuaranteed by the applicable Subsidiary Guarantor without rendering the Subsidiary Guarantee, as it relates to such Subsidiary Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. If a Subsidiary Guarantee were to be rendered voidable, it could be subordinated by a court to all other indebtednessIndebtedness (including guaranteesGuarantees and other contingent liabilities) of the applicable Subsidiary Guarantor, and depending on the amount of such indebtedness,Indebtedness, a Subsidiary Guarantor’s liability on its Subsidiary Guarantee could be reduced to zero. See “Risk Factors— factors—Risks

Related to the New Notes—A court couldFederal and state statutes allow courts, under specific circumstances, to void our subsidiaries’ guarantees of the notes under fraudulent transfer laws.and require noteholders to return payments received from guarantors.

Pursuant to the Indenture, a Subsidiary Guarantor may consolidate with, merge with or into, or transfer all or substantially all its assets to any other Person to the extent described below under “—Certain covenants— Covenants—Merger and consolidation”Consolidation”;provided however, that if such Person is not the Company or another Subsidiary Guarantor, the Subsidiary Guarantor’s obligations under the Indenture and its Subsidiary Guarantee must be expressly assumed by such other Person. However, uponPerson, unless such Subsidiary Guarantee is released as described in the sale or other disposition (including by waynext paragraph.

The Subsidiary Guarantee of consolidation or merger) of a Subsidiary Guarantor or the sale or disposition of all or substantially all the assets of a Subsidiary Guarantor (in each case other than to the Company or an Affiliate of the Company) in compliance with the covenant described below under “—Limitation on sales of assets and subsidiary stock,” such Subsidiary Guarantor will be released automatically and relieved from all its obligations under its Subsidiary Guarantee. See “—Certain covenants—Merger and consolidation.”unconditionally:

(1)in connection with any sale or other disposition of all or substantially all of the assets of that Subsidiary Guarantor (including by way of merger or consolidation) to a Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary of the Company, if the sale or other disposition does not violate the covenant described under the caption “—Certain Covenants—Limitation on Sales of Assets and Subsidiary Stock”;

(2)in connection with any sale or other disposition of such amount of Capital Stock of that Subsidiary Guarantor to a Person that is not (either before or after giving effect to such transaction) the Company or a Restricted Subsidiary of the Company, including a disposition in connection with a Qualified Spin Transaction, if such sale or other disposition does not violate the covenant described under the caption “—Certain Covenants—Limitation on Sales of Assets and Subsidiary Stock,” and the Subsidiary Guarantor ceases to be a Restricted Subsidiary of the Company as a result thereof;

(3)if the Company designates that Subsidiary Guarantor as an Unrestricted Subsidiary in accordance with the covenant described below under “—Certain Covenants—Designation of Unrestricted Subsidiaries”;

(4)upon Legal Defeasance or Covenant Defeasance as described under the caption “—Defeasance” or upon satisfaction and discharge of the Indenture as described under caption “—Satisfaction and Discharge”;

(5)at such time as such Subsidiary Guarantor becomes an Immaterial Subsidiary of the Company; or

(6)as provided in the covenant described blow under “—Certain Covenants—Future Subsidiary Guarantors.”

Ranking

The indebtednessIndebtedness evidenced by the Notes and the Subsidiary Guarantees will be unsecured, general obligations of the Company and the relevant Subsidiary Guarantor, as the case may be, senior in right of payment, as set forth in the Indenture, to the payment of any future Indebtedness of the Company or the relevant Subsidiary Guarantor, as the case may be, that is expressly subordinated in right of payment to the Notes or the Subsidiary Guarantees. The Notes and Subsidiary Guarantees will bepari passu in right of payment with all existing and future unsecured senior obligations of the Company or the relevant Subsidiary Guarantor, as the case may be. The Notes and Subsidiary Guarantees will be effectively subordinated to Secured Indebtedness of the Company and the applicable Subsidiary Guarantor, to the extent of the value of the assetscollateral securing such Indebtedness, including the obligations of the Company under, and such Subsidiary Guarantor’s guarantee, if any, of the Company’s obligations with respect to,Guarantor under the Credit Facilities and the 2012 Notes.Agreement.

At JuneSeptember 30, 2011, the Company and the Subsidiary Guarantors would have2015, we had total consolidated long-term debt of approximately $331$3.7 billion, excluding approximately $281 million of secured indebtedness outstanding (excluding $337 million ofsecured letters of credit, outstandingand no subordinated indebtedness and we would have been able to incur up to approximately $774 million of additional indebtedness under our Credit

Facilities), an additional $1,902 million of unused commitments available to be borrowed under our Credit Facilities and an additional $130 million available under our accounts receivable securitizationcredit facility.

Although the Indenture containswill contain limitations on the amount of additional Indebtedness that the Company and the Subsidiary Guarantors may incur, under certain circumstances the amount of such Indebtedness could be

substantial and, in any case,certain cases, such Indebtedness may be Secured Indebtedness. See “—Certain covenants— Covenants—Limitation on indebtedness.Indebtedness.

The operations of the Company are currently conducted through its Subsidiaries and not all of its Subsidiaries will guaranteeGuarantee the Notes.

The Notes will be effectivelystructurally subordinated to all existing and future obligations, including Indebtedness, of any Restricted Subsidiaries of the Company that do not guaranteeGuarantee the Notes and of any Unrestricted Subsidiaries. Claims of creditors of these Subsidiaries, including trade creditors, will generally have priority as to the assets of these Subsidiaries over the claims of the Company and the holders of the Company’s Indebtedness, including the Notes. CNX Funding Corporation (a Receivables Subsidiary) will be an Unrestricted Subsidiary. The Notes

We own a 50% equity interest in CONE Gathering LLC, a Joint Venture with Noble Energy, which, in turn, indirectly owns the general partner interest in CONE Midstream Partners LP, a publicly traded master limited partnership (“MLP”) that owns and operates the gathering system for most of our Marcellus shale production. Our equity interest in this Joint Venture, and our 32.1% limited partnership interest in the MLP, had a total carrying value of approximately $184 million at September 30, 2015. Neither CONE Gathering LLC nor CONE Midstream Partners LP will qualify as our “Subsidiary” for purposes of the Indenture and, therefore neither will be structurally subordinatedsubject to the liabilities ofrestrictive covenants in the Unrestricted Subsidiaries.Indenture nor will they guarantee the Notes.

Same day settlementDay Settlement and paymentPayment

WeThe Company will make payments in respect of the Notes (includingboth principal premium, if any, and interest if any)on the Notes by wire transfer of immediately available funds to the accounts specified by the holder.Holder. The Notesnew notes are expected to be eligible to trade in DTC’s Same-Day Funds Settlement System, and any permitted secondary market trading activity in suchany Notes will, therefore, be required by DTC to be settled in immediately available funds.

Change of controlControl

(a) UponExcept as provided below, upon the occurrence of any of the following events (each a “Change of Control”), each Holder shall have the right to require that the Company purchaserepurchase such Holder’s Notes atpursuant to a purchase pricecash tender offer (a “Change of Control Offer”) on the terms set forth in the Indenture. In the Change of Control Offer, the Company will offer a payment in cash (the “Change of Control Payment”) equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, (including additional interest, if any), to, but not including, the date of purchase (the “Change of Control Purchase Date”) (subject to the right of Holders of record on the relevant record date to receive interest on the relevant interest payment date), in accordance with the terms contemplated in paragraph (b) below:the next succeeding paragraph:

 

 (1)the consummation of any transaction (including, without limitation, any merger or consolidation) the result of which is that any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) is or becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, except that for purposes of this clause (1) such person shall be deemed to have “beneficial ownership” of all shares that such person has the right to acquire, whether such right is exercisable immediately or only after the passage of time),Beneficial Owner, directly or indirectly, of more than 35%50% of the total voting power of the Voting Stock of the Company (for the purposes of this clause (1), such person shall be deemed to beneficially own any Voting Stock of a specified corporation held by a parent corporation, if such person is the beneficial owner (as defined in this clause (1)), directly or indirectly, of more than 35% of the voting power of the Voting Stock of such parent corporation);Company;

 

 (2)during any period of two consecutive years from and after the Issue Date, individuals who at the beginning of such period constituted the Board of Directors of the Company (together with any new directors whose election by such Board of Directors or whose nomination for election by the shareholders of the Company was approved by a vote of a majority of the directors of the Company then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors then in office;

(3)the shareholders of the Company shall have approved any plan of liquidation or dissolution of the Company; or

 

 (4)(3)(a)the direct or indirect sale, lease, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the assets of the Company and the(including Equity Interests of Restricted Subsidiaries are sold or otherwise transferredof the Company) and its Subsidiaries taken as a whole to any Person other than a Wholly-OwnedRestricted Subsidiary or (b) the Company consolidates or merges with or into another Person or any Person consolidates or merges with or into the Company, in either case under this clause (4), in one transaction or a series of related transactions in which immediately after the consummation thereof Persons beneficially owning (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, Voting Stock representing in the aggregate a majority of the total voting power of the Voting Stock of the Company immediately prior to such consummation do(it being understood that a Qualified Spin Transaction shall not beneficially own (as defined in Rules 13d-3 and 13d-5 underconstitute the Exchange Act), directlysale or indirectly, Voting Stock representing a majorityother transfer of all or substantially all of the total voting power of the Voting Stock of the Company or the surviving or transferee Person.Company’s and its Restricted Subsidiaries’ assets).

(b)

Within 30 days following a Change of Control, the Company shall mail a notice to each Holder (or send electronically if DTC is the recipient) with a copy to the Trustee stating: (1) that a Change of Control has occurred and that such Holder has the right to require the Company to purchase such Holder’s Notes at a purchase price in cash equal to 101%the Change of the principal amount thereof plus accrued and unpaid interest, if any (including additional interest, if any), to the date of purchaseControl Payment (subject to the right of Holders of record on the relevant record date to receive interest on the relevant interest payment date); (2) the circumstances and relevant facts regarding such Change of Control; (3) the purchase dateChange of Control Purchase Date (which shall be no earlier than 30 days nor later than 60 days from the date such notice is mailed)sent); and (4) the instructions determined by the Company, consistent with this covenant, that a Holder must follow in order to have its Notes purchased.

(c) The Company shall comply, to the extent applicable, with the requirements of Section 14(e) ofRule 14e-1 under the Exchange Act and any other securities laws or regulations in connection with the repurchase of Notes pursuant to this covenant. To the extent that the provisions of any securities laws or regulations conflict with the provisions of this covenant, the Company shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this covenant by virtue thereof.of such compliance.

ThePromptly following the expiration of the Change of Control purchase featureOffer, the Company will, to the extent lawful, accept for payment all Notes or portions of Notes properly tendered pursuant to the Change of Control Offer. Promptly after such acceptance, the Company will, on the Change of Control Purchase Date:

(1)deposit with the paying agent an amount equal to the Change of Control Payment in respect of all Notes or portions of Notes properly tendered; and

(2)deliver or cause to be delivered to the Trustee the Notes properly accepted together with an officers’ certificate stating the aggregate principal amount of Notes or portions of Notes being purchased by the Company.

The paying agent will promptly mail to each Holder of Notes properly tendered the Change of Control Payment for such Notes (or, if all the Notes are then in global form, make such payment through the facilities of DTC), and the Trustee will promptly authenticate and mail (or cause to be transferred by book-entry) to each Holder a new Note equal in principal amount to any unpurchased portion of the Notes may in certain circumstances make more difficultsurrendered, if any. The Company will publicly announce the results of the Change of Control Offer on or discourageas soon as practicable after the Change of Control Purchase Date.

Notwithstanding the preceding, (i) a sale or takeoverconversion of the Company and, thus, the removalor any of incumbent management. The Change of Control purchase feature isits Restricted Subsidiaries from a result of negotiations between the Company and the initial purchasers. Management has no present intention to engage in a transaction involving a Change of Control, although it is possible that the Company would decide to do so in the future. Subject to the limitations discussed below, the Company could, in the future, enter into certain transactions, including acquisitions, refinancingcorporation, limited partnership, limited liability company or other recapitalizations, that wouldform of entity to a limited liability company, corporation, limited partnership or other form of entity or (ii) an exchange of all of the outstanding Capital Stock in one form of entity for Capital Stock in another form of entity shall not constitute a Change of Control, underso long as immediately following such conversion or exchange the Indenture, but“persons” (as that could increaseterm is used in Sections 13(d) and 14(d) of the amount of Indebtedness outstanding at such time or otherwise affectExchange Act) who Beneficially Owned the Company’s capital structure or credit ratings. Restrictions on the abilityCapital Stock of the Company immediately prior to Incur additional Indebtedness are containedsuch transactions continue to Beneficially Own in the covenants described under “—Certain covenants—Limitation on indebtedness” and “—Limitation on liens.” Such restrictions can only be waived with the consentaggregate more than 50% of the HoldersVoting Stock of such entity, or continue to Beneficially Own sufficient Capital Stock in such entity to elect a majority of its directors, managers, trustees or other persons serving in principal amounta similar capacity for such entity or its general partner, as applicable, and, in either case no “person” Beneficially Owns more than 50% of the Notes then outstanding. Except for the limitations contained inVoting Stock of such covenants, however, the Indenture will not contain any covenantsentity or provisions that may afford Holders of the Notes protection in the event of a highly leveraged transaction.its general partner, as applicable.

Future indebtednessThe Credit Agreement contains, and agreements governing future Indebtedness of the Company may contain, prohibitions on the occurrence of certain events that would constitute a Change of Control or require such indebtednessIndebtedness to be repurchased upon a Change of Control. Moreover, the exercise by the Holders of their right to require the Company to repurchase the Notes could cause a default under such indebtedness,Indebtedness, even if the Change of Control itself does not, due to the financial effect of such repurchase on the Company. Finally, the Company’s ability to pay cash to the Holders of Notes following the occurrence of a Change of Control may be limited by the Company’s then existing financial resources. There can be no assurance that sufficient funds will be available when necessary to make any required repurchases.

The provisions under the Indenture relating to the Company’s obligation to make an offer to repurchase the Notes as a result of a Change of Control may be waived or modified with the written consent of the Holders of a majority in outstanding principal amount of the Notes.

The Company will not be required to make an offer to purchase the Notes as a result of a Change of Control if (a) a third party:party makes such offer in the manner, at the times and otherwise in compliance with the requirements set forth in the Indenture relating to the Company’s obligations to make such an offer and purchases all Notes validly tendered and not withdrawn under such an offer, (b) notice of redemption of all outstanding Notes has been given pursuant to the Indenture as described above under the caption “—Optional Redemption,” unless and until there is a default in payment of the applicable redemption price or (c) in connection with or in contemplation of any Change of Control, the Company has made an offer to purchase (an “Alternate Offer”) any and all Notes validly tendered at a cash price equal to or higher than the Change of Control Payment and has purchased all Notes properly tendered in accordance with the terms of the Alternate Offer. Notwithstanding anything to the contrary contained in the Indenture, a Change of Control Offer may be made in advance of a Change of Control, conditioned upon the consummation of such Change of Control, if a definitive agreement or letter of intent is in place for the Change of Control at the time the Change of Control Offer is made.

In the event that, upon consummation of a Change of Control Offer or Alternate Offer, less than 10% in aggregate principal amount of the Notes (including Additional Notes, if any) that were originally issued are held by Holders other than the Company or Affiliates thereof, the Company will have the right, upon not less than 30 nor more than 60 days’ prior notice, given not more than 30 days following the purchase pursuant to the Change of Control Offer or Alternate Offer described above, to redeem all of the Notes that remain outstanding following such purchase at a redemption price equal to the Change of Control Payment plus, to the extent not included in the Change of Control Payment, accrued and unpaid interest, if any, on the Notes that remain outstanding, to, but not including, the date of redemption (subject to the rights of Holders of record on the relevant record date to receive interest due on an interest payment date that is on or prior to the redemption date).

Certain Covenants

Changes in Covenants When Notes Rated Investment Grade

Beginning on the date that:

 

 (1)makes such offer in the manner, at the times and otherwise in compliance with the requirements set forth in the Indenture relating to the Company’s obligations to make suchNotes have an offer;Investment Grade Rating from either Rating Agency; and

 

 (2)purchases all Notes validly tendered and not withdrawn under such an offer.

Certain covenants

Changes in Covenants when Notes Rated Investment Grade

If on any date following the Issue Date:

(a)the Notes have Investment Grade Ratings from both Rating Agencies; and

(b)no Default or Event of Default shall have occurred and be continuing, (the occurrence of the events described in the foregoing clauses (1) and (2) being collectively referred to as a “Fall Away Event”), the covenants specifically listed under the following captions and the definitions relevant thereto in this offering memorandum will no longer be applicable to the Notes:

the covenants specifically listed under the following captions in this prospectus will no longer be applicable to the Notes:

 

 (1)(a)“—Limitation on indebtedness”Indebtedness”;

 

 (2)(b)“—Limitation on restricted payments”Restricted Payments”;

 

 (3)(c)“—Limitation on restrictions on distributions from restricted subsidiaries”Future Subsidiary Guarantees”;

 

 (4)(d)“—Limitation on sales of assets and subsidiary stock”Restrictions on Distributions from Restricted Subsidiaries”;

 

 (5)(e)“—Limitation on affiliate transactions”Sales of Assets and Subsidiary Stock”;

(f)“—Limitation on Affiliate Transactions”;

(g)clause (3) of the first paragraph under “—Merger and Consolidation”; and

 

 (6)(h)clause (3)“—Designation of the covenant listed under “—Merger and consolidation.Unrestricted Subsidiaries.

andThere can be no Defaultassurance that the Notes will ever achieve or Eventmaintain an Investment Grade Rating. After such covenants terminate, the Company may not designate any of Default will be deemed to have occurredits Subsidiaries as a result of a failure to comply with the foregoing covenants.Unrestricted Subsidiaries.

Limitation on indebtednessIndebtedness

(a) The Company shall not, and shall not permit any of its Restricted SubsidiarySubsidiaries to, Incur, directly or indirectly, incur, assume, Guarantee or otherwise become liable, contingently or otherwise, with respect to (collectively, “incur”) any Indebtedness; Indebtedness, and the Company will not issue any Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any Preferred Stock;provided,however, that the Company or a Restricted Subsidiary Guarantorof the Company may Incurincur Indebtedness, the Company may issue Disqualified Stock and any Restricted Subsidiary of the Company may issue Preferred Stock if, on the date of such Incurrenceincurrence and after giving effect thereto, the Consolidated Coverage Ratio equals or exceeds 2.0 to 1.0.1.0;provided,further, that the amount of Indebtedness that may be incurred and the Preferred Stock that may be issued pursuant to the foregoing by Restricted Subsidiaries that are not Guarantors shall not exceed at any one time outstanding the greater of (a) $200 million and (b) 2.0% of the Company’s ACNTA.

(b) The limitation described in the foregoingpreceding paragraph (a) shall not prohibit the incurrence of the following Indebtedness:Indebtedness by the Company or any of its Restricted Subsidiaries or the issuance of Disqualified Stock by the Company or Preferred Stock by any Restricted Subsidiary of the Company (“Permitted Debt”):

 

 (1)Indebtedness of the Company or any Subsidiary Guarantor Incurred pursuantof its Restricted Subsidiaries (with letters of credit being deemed to any Credit Facility, so long ashave a principal amount equal to the aggregate amountmaximum potential liability of all Indebtedness outstandingthe Company and its Restricted Subsidiaries thereunder) under allone or more Credit Facilities pursuant to this clause (1) does not,in an aggregate principal amount at any one time exceedoutstanding under this clause (1) not exceeding the greater of (x) $3.0(a) $2.5 billion and (y) 35%(b) the sum of $500 million plus 30.0% of the Company’s ACNTA as of the date of such Incurrence;incurrence;

 

 (2)[Reserved]

(3)Indebtedness owed to and Preferred Stock issued to and, in each case, held by the Company or any of its Restricted Subsidiary; Subsidiaries;provided however, that any subsequent issuance or transfer of any Capital Stock which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary of the Company or any subsequent transfer of such Indebtedness or Preferred Stock (other than to the Company or another Restricted Subsidiary)Subsidiary of the Company) shall be deemed, in each case, to constitute the Incurrenceincurrence of such Indebtedness byor the issuer thereofissuance of such Preferred Stock not permitted by this clause (3)(2);

 (4)(3)the Notes (other than any Additional Notes), Subsidiary Guarantees and the Exchange Notes and any ExchangeSubsidiary Guarantees related thereto;

 

 (5)(4)Indebtedness outstanding on the Issue Date (other than Indebtedness described in clauseclauses (1), (2) and (3) of this paragraph);

(5)Refinancing Indebtedness in respect of Indebtedness incurred by the Company or any of its Restricted Subsidiaries in exchange for, or the net proceeds of which are used to Refinance any Indebtedness (other than intercompany Indebtedness), Disqualified Stock or Preferred Stock, as applicable, that was permitted by the Indenture to be incurred or issued pursuant to the first paragraph of this covenant or pursuant to clauses (3) and (4) of this covenant)paragraph and this clause (5);

 

 (6)Indebtedness represented by Capital Lease Obligations, mortgage financings, purchase money obligations or other Indebtedness, in each case incurred for the purpose of financing all or any part of the price or cost of design, construction, installation, development, repair or improvement of plant, property or equipment used in the business of the Company or any of its Restricted Subsidiaries, and Refinancing Indebtedness thereof, in respectan aggregate principal amount, when taken together with the outstanding amount of all other Indebtedness Incurredor Refinancing Indebtedness incurred pursuant to paragraphthis clause (6), not to exceed at any time outstanding under this clause (6) the greater of (a) or pursuant to clause (4) or (5) above or$500 million and (b) 5.0% of the Company’s ACNTA at the time of any incurrences under this clause (6);

 

 (7)Non-recourse Purchase Money Indebtedness and Capital Lease Obligations Incurred by the Company or any Restricted Subsidiary, and Refinancing Indebtedness thereof, in an aggregate amount not to exceed at any time outstanding under this clause (7) the greater of (a) $250.0 million and (b) 5% of Consolidated Net Tangible Assets at the time of any Incurrences under this clause (7);

(8)(i) Guarantees by the Company or anya Restricted Subsidiary Guarantorof the Company of any Indebtedness of the Company or any otherRestricted Subsidiary Guarantorof the Company that is permitted to be Incurredincurred by another provision of this covenant and could have been Incurredincurred (in compliance with this covenant) by the Person so guaranteeingGuaranteeing such Indebtedness;provided,however, that upon any suchif the Indebtedness being

Guaranteed is subordinated to orpari passu with the Notes, then the Subsidiary Guarantor ceasing toGuarantee must be a Subsidiary Guarantorsubordinated or such Indebtedness being owed to any Person other than the Company or a Subsidiary Guarantor, the Company or such Subsidiary Guarantor,pari passu, as applicable, shall be deemed to have Incurredthe same extent as the Indebtedness not permitted by this clause 8(i); and (ii) Guarantees by a Restricted Subsidiary that is not a Subsidiary Guarantor of any Indebtedness of the Company or any Restricted Subsidiary;Guaranteed;

 

 (9)Indebtedness consisting of Interest Rate Agreements directly related to Indebtedness permitted to be Incurred by the Company and its Restricted Subsidiaries pursuant to the Indenture;

(10)(8)Indebtedness under Hedging Contracts, Interest Rate Agreements and Currency Agreements entered into in the ordinary course of business for the purpose of limiting risks and not for speculation that arise in the ordinary course of business of the Company and its Restricted Subsidiaries;not for speculation;

 

 (11)(9)Indebtedness in respect of self-insurance obligations or bid, plugging and abandonment, appeal, reimbursement, performance, or surety and similar obligations issuedand completion guarantees provided by or for the account of the Company or any Restricted Subsidiary of the Company in the ordinary course of business, includingand any Guarantees and letters of credit functioning as or supporting such bid, performance or surety obligations (in each case other than for an obligation for money borrowed);any of the foregoing in the ordinary course of business;

 

 (12)(10)Permitted Marketing Obligations;

 

 (13)(11)in-kind obligations relating to oil andor natural gas balancing positions arising in the ordinary course of business;

 

 (14)(12)Indebtedness under the Existing Receivables Financing and the Incurrence byany other Indebtedness of a Receivables Subsidiary of Indebtednessincurred in a Qualified Receivables Transaction that is without recourse (other than pursuant to representations, warranties, covenants, indemnities and performance guarantees customarily entered intoTransaction;

(13)liability in connection with a Receivables financing) torespect of the Company or toIndebtedness of any RestrictedUnrestricted Subsidiary of the Company or its assets (other thanany Joint Venture but only to the extent that such Receivablesliability is the result of (a) the Company’s or any such Restricted Subsidiary’s being a general partner of such Unrestricted Subsidiary or Joint Venture and its subsidiariesnot as Guarantor of such Indebtedness, provided that, after giving effect to any such incurrence, the aggregate principal amount of all Indebtedness incurred under this clause (13) and assets);then outstanding does not exceed $25 million, or (b) the pledge of (or a Guarantee limited in recourse solely to) Equity Interests in such Unrestricted Subsidiary or Joint Venture held by the Company or such Restricted Subsidiary to secure such Indebtedness and solely to the extent such Indebtedness constitutes Non-Recourse Debt;

(14)Permitted Acquisition Indebtedness; and

 

 (15)Indebtedness of the Company andor any Restricted Subsidiary Guarantorof the Company or the issuance of any Disqualified Stock by the Company or Preferred Stock by any Restricted Subsidiary in an aggregate amount which, together with the amount of all othernot exceeding, at any one time outstanding, including any Refinancing Indebtedness of the Company and the Subsidiary Guarantors outstanding on the date of such Incurrence (other than Indebtedness permitted by clauses (1) through (14) above or paragraph (a)) does not exceedthereof, the greater of (x) $250.0(i) $500 million and (y) 5%(ii) 5.0% of Consolidated Net Tangible Assetsthe Company’s ACNTA at the time of any Incurrenceincurrence under this clause (15).

(c) For purposes of determining compliance with this covenant, inIn the event that an item of Indebtedness meets the criteria of more than one of the categories of Indebtedness described in clauses (1) through (15) of the immediately preceding paragraph or is entitled to be Incurredincurred pursuant to the first paragraph (a) of this covenant, the Company shall, in its sole discretion, divide, classify or reclassify (or later divide, classify, redivide or reclassify) such item of Indebtedness in any manner that complies with this covenant (including splitting into multiple exceptions) and will only be required to include the amount and type of such Indebtedness in one of such clauses of the immediately preceding paragraph or pursuant

to the first paragraph (a) of this covenant;provided that Indebtedness of the Company and any of its Restricted Subsidiaries outstanding under the Credit Agreement as of the Issue Date and Indebtedness outstanding under the CNX Gas Credit Agreement as of the Issue Date shall initially be deemed to have been Incurredincurred pursuant to clause (1) of paragraph (b)the preceding paragraph.

The accrual of interest or Preferred Stock or Disqualified Stock dividends or distributions, the accretion or amortization of original issue discount, the payment of interest on any Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of Preferred Stock or Disqualified Stock as Indebtedness due to a change in accounting principles, and the payment of dividends or distributions on Preferred Stock or Disqualified Stock in the form of additional securities of the same class of Preferred Stock or Disqualified Stock will not be deemed to be an incurrence of Indebtedness or an issuance of Preferred Stock or Disqualified Stock

for purposes of this covenant andcovenant;providedthat the amount thereof shall not be reclassified.included in the calculation Consolidated Interest Expense of the Company as accrued to the extent required by the definition of such term.

Limitation on restricted paymentsRestricted Payments

(a) The Company shall not, and shall not permit any of its Restricted Subsidiary,Subsidiaries to, directly or indirectly, to make a Restricted Payment if at the time the Company or such Restricted Subsidiary makes such Restricted Payment:

 

 (1)a Default (other than a Reporting Default) shall have occurred and be continuing (or would result therefrom);

 

 (2)the Company is not able to Incurincur an additional $1.00 of Indebtedness pursuant to paragraph (a) of the covenantConsolidated Coverage Ratio test described under the caption “—Limitation on indebtedness”Indebtedness”; or

 

 (3)the aggregate amount of such Restricted Payment and all other Restricted Payments since AprilJanuary 1, 2010 (excluding Restricted Payments permitted by clauses (2) through (10) and clauses (12) and (13) of the second paragraph of this covenant) would exceed the sum of (without duplication):

 

 (A)(a)50% of the aggregatecumulative Consolidated Net Income of the Company accrued on a cumulative basisfor the period commencing on January 1, 2010 and ending on the last day of the fiscal quarter ending on or immediately preceding the date of such proposed Restricted Payment (or, if such aggregate Consolidated Net Income shall be a deficit, minus 100% of such deficit);

 

 (B)(b)the aggregate Net Cash Proceeds and the Fair Market Value of property or securities other than cash received (including Equity Interests of Persons other than the Company or a Subsidiary of the Company, engaged primarily in the Permitted Business or assets used or useful in the Permitted Business) in each case by the Company since January 1, 2010 as a contribution to its common equity capital or from the issuance or sale of its Capital StockEquity Interests (other than Disqualified Stock) subsequent to April 1, 2010 (other than (x)Stock and Net Cash Proceeds received from an issuance or sale of such Equity Interests to a Subsidiary of the Company and (y)or an issuanceemployee stock ownership plan, option plan or similar trust to the extent such sale to an employee stock ownership plan, option plan or to asimilar trust establishedis financed by loans from or Guaranteed by the Company or any Restricted Subsidiary of its Subsidiaries for the benefitCompany (unless such loans have been repaid with cash on or prior to the date of their employees)determination));

 

 (C)(c)the amount by which Indebtedness of the Company or its Restricted Subsidiaries is reduced on the Company’s balance sheet upon the conversion or exchange (other than by a Subsidiary of the Company) subsequent to AprilJanuary 1, 2010 of any Indebtedness of the Company or its Restricted Subsidiaries convertible or exchangeable for Capital StockEquity Interests (other than Disqualified Stock) of the Company (less the amount of any cash, or the fair valueFair Market Value of any other property, distributed by the Company upon such conversion or exchange);, together with the net proceeds, if any, received by the Company or any of its Restricted Subsidiaries upon such conversion or exchange;

(d)to the extent not already included in Consolidated Net Income for such period, if any Restricted Investment is that was made by the Company or any of its Restricted Subsidiaries after January 1, 2010 is sold for cash (other than to the Company or any Subsidiary of the Company) or otherwise cancelled, liquidated, released or repaid for cash, the cash return or other reduction with respect to such Restricted Investment resulting from such sale, cancellation, liquidation, release or repayment;

(e)

the extent that any Unrestricted Subsidiary of the Company or a Restricted Subsidiary of the Company designated as such after January 1, 2010 is redesignated as a Restricted Subsidiary pursuant to the terms of the Indenture or is merged or consolidated with or into, or transfers or otherwise disposes of all of substantially all of its assets to or is liquidated into, the Company or a Restricted Subsidiary of the Company after January 1, 2010, the lesser of, as of the date of such

redesignation, merger, consolidation, transfer, disposition or liquidation, (i) the Fair Market Value of the Company’s Restricted Investment in such Subsidiary (or of the properties or assets disposed of, as applicable) as of the date of such redesignation, merger, consolidation, transfer, disposition or liquidation and (ii) such Fair Market Value as of the date on which such Subsidiary was originally designated as an Unrestricted Subsidiary after January 1, 2010; and

 

 (D)(f)an amount equal to the sum of (i) the net reductionany dividends or distributions received in Investments made subsequent to April 1, 2010cash by the Company or anya Restricted Subsidiary in any Person resulting from dividends, repayments of loans or advances or other transfers of assets, in each case to the Company or any Restricted Subsidiaryafter January 1, 2010 from such Person, and (ii) the portion (proportionate to the Company’s equity interest in such Subsidiary) of the fair market value of the net assets of an Unrestricted Subsidiary atof the timeCompany, to the extent that such Unrestricted Subsidiary is designated a Restricted Subsidiary after April 1, 2010;provided, however,that the foregoing sum shalldividends or distributions were not exceed,otherwise included in the caseConsolidated Net Income of any such Person or Unrestricted Subsidiary, the amount of Investments previously made (and treated as a Restricted Payment) by the Company or any Restricted Subsidiary infor such Person or Unrestricted Subsidiary.period.

(b) As of September 30, 2015, the amount available for Restricted Payments pursuant to this clause (3) would have been approximately $2,766 million.

The provisions of the foregoing paragraph (a) shall not prohibit:

 

 (1)the payment of any dividends paidor distribution or the consummation of any irrevocable redemption within 60 days after the date of declaration thereofof the dividend or distribution or giving of the redemption notice, as the case may be, if at suchthe date of declaration suchor notice, the dividend, distribution or redemption payment would have complied with this covenant; provided, however, that at the time of payment of such dividend, no other Default shall have occurred and be continuing (or result therefrom); provided further, however, that such dividend shall be included in the calculationprovisions of the amount of Restricted Payments;Indenture;

 

 (2)

the making of any purchase or redemption of Capital Stock or Subordinated Obligations of the Company made byRestricted Payment in exchange for, or out ofor with Excluded Contributions or the proceedsNet Cash Proceeds of, the substantially concurrent sale of Capital StockEquity Interests of the

Company (other than Disqualified Stock and other than Capital StockEquity Interests issued or sold to a Subsidiary of the Company or an employee stock ownership plan or to a trust established by the Company or any of its Subsidiaries for the benefit of their employees)Company);provided however, that (A) such purchase or redemption shall be excluded in the calculation of the amount of Restricted Payments and (B)any such the Net Cash Proceeds fromor Excluded Contributions that are utilized for any such saleRestricted Payment shall be excluded from the calculation of amounts under clause (3)(B)(b) of the preceding paragraph (a) above (but only to the extent that the amount of such Net Cash Proceeds or Excluded Contributions were used to purchase or redeem such Capital StockEquity Interests as provided in this clause (2));

 

 (3)any purchase, repurchase, redemption, defeasance or other acquisition or retirement for value of Subordinated Obligations or Disqualified Stock of the Company or Subordinated Obligations or Preferred Stock of any Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale of, Subordinated Obligations or Equity Interests of the Company; provided, however, thatCompany or any Guarantor;

(4)repurchases of Subordinated Obligations of the Company or any Guarantor at a purchase price not greater than (i) 101% of the principal amount of such purchase,Subordinated Obligations in the event of a change of control or (ii) 100% of the principal amount of such Subordinated Obligations in the event of an asset disposition, in each case plus accrued and unpaid interest thereon, to the extent required by the terms of such Subordinated Obligations, but only if:

(a)in the case of a change of control, the Company has first complied with and fully satisfied its obligations under the provisions described under the caption “—Change of Control”; or

(b)in the case of an asset disposition, the Company has complied with and fully satisfied its obligations in accordance with the covenant described under the caption “—Limitation on Sales of Assets and Subsidiary Stock”;

(5)

the repurchase, redemption defeasance or other acquisition or retirement for value shall be excluded in the calculation of the amount of Restricted Payments;

(4)the repurchase of shares of, or options to purchase shares of, common stockEquity Interests of the Company or any of its Subsidiaries from employees, former employees, directorsheld by any current or former directorsofficer, director or employee of the Company or any of its Subsidiaries (or their respective estates, heirs, family members, spouses, former spouses or beneficiaries under their estates or other permitted transferees of such employees, former employees, directors or former directors)transferees), pursuant to the terms of the agreements (including employment agreements)any equity subscription agreement, stock option agreement, shareholders’ agreement, compensation agreement or plans (or amendments thereto) approved by the Board of Directors under which such individuals purchasearrangement or sell or are granted the option to purchase or sell, shares of such common stock; similar agreement;provided however, that the aggregate amount of such repurchasesacquisitions or retirements (excluding amounts representing cancellation of Indebtedness) shall not exceed $5.0$7 million in any calendar year;year (with any portion of such $7 million amount that is unused in any calendar year to be carried forward to successive calendar years and added to such amount,

provided that such amount shall not exceed $10 million at any time);provided further however,that such repurchases shallamount in any calendar year may be excluded inincreased by an amount not to exceed the calculationcash proceeds of key man life insurance policies received by the amount of Restricted Payments;Company after the Issue Date;

 

 (5)(6)the repurchase of Equity Interests deemed to occur upon the exercise of stock or other equity options to the extent such Equity Interests represent a portion of the exercise price of those stock or other equity options and any repurchase or other acquisition of Equity Interests made in lieu of withholding taxes in connection with any exercise or exchange of stock options, warrants, incentives or other rights to acquire Equity Interests;

(7)dividends on the Company’s common stockCapital Stock not to exceed an annual rate of $0.40$0.50 per share (such amount to be appropriately adjusted to reflect any stock split, reverse stock split, stock dividend or similar transaction occurring after April 1, 2010the Issue Date so that the aggregate amount of dividends permitted after such transaction is the same as the amount permitted immediately prior to such transaction);

(8)the declaration and payment of regularly scheduled or accrued dividends or distributions to holders of any class or series of Disqualified Stock of the Company or any Preferred Stock of any Restricted Subsidiary of the Company issued on or after the Issue Date in accordance with the covenant described under the caption “—Limitation on Indebtedness”;

(9)payments of cash, dividends, distributions, advances or other Restricted Payments by the Company or any of its Restricted Subsidiaries to allow the payment of cash in lieu of the issuance of fractional shares upon (i) the exercise of options or warrants or (ii) the conversion or exchange of Equity Interests of any such Person;

(10)payments to dissenting stockholders of the Company not to exceed $5 million in the aggregate made (a) pursuant to applicable law or (b) in connection with the settlement or other satisfaction of legal claims made pursuant to or in connection with a consolidation, merger or transfer of assets in connection with a transaction not prohibited by the Indenture;

(11)Equity Repurchases (a) in an aggregate amount not in excess of $500 million and (b) in excess of the amount provided in clause (a) provided that, in the case of (b), immediately after giving effect to such Restricted Payment and the incurrence of any Indebtedness to finance such repurchase, as if it had occurred at the beginning of the most recently ended four full fiscal quarters for which internal financial statements of the Company are available, the Total Leverage Ratio would not be greater than 2.75 to 1.0;provided, howeverhowever, that such dividendamount shall be included in the calculation of the amount available for Restricted Payments pursuant to clause (3) of the preceding paragraph, but shall not reduce such amount available for Restricted Payments; orPayments below zero;

 

 (6)(12)other a Qualified Spin Transaction; and

(13)Restricted Payments in an aggregate amount since January 1, 2010 not to exceed $50.0 million.the greater of (a) $100 million and (b) 1.0% of the Company’s ACNTA.

For the purposes of this covenant, a sale of Equity Interests or Subordinated Obligations shall be deemed “substantially concurrent” if such sale occurs within 120 days of the applicable exchange. For purposes of determining compliance with the foregoing covenant, in the event that a Restricted Payment or other transaction governed by this covenant meets the criteria of more than one of the categories of Restricted Payments described in clauses (1) through (13) of the preceding paragraph, or is permitted pursuant to the first paragraph of this covenant, the Company will be permitted to classify or divide (or later classify, reclassify, divide or redivide in whole or in part in its sole discretion) such Restricted Payment or other such transaction (or portion thereof) on the date made or later classify, reclassify, divide or re-divide such Restricted Payment or other such transaction (or portion thereof) in any manner that complies with this covenant. The amount of all Restricted Payments (other than cash) will be the Fair Market Value on the date of the Restricted Payment (or, in the case of a dividend or distribution, on the date of declaration) of the asset(s) or securities proposed to be transferred or issued by the Company or such Restricted Subsidiary, as the case may be, pursuant to the Restricted Payment.

Limitation on restrictionsRestrictions on distributionsDistributions from restricted subsidiariesRestricted Subsidiaries

The Company shall not, and shall not permit any of its Restricted SubsidiarySubsidiaries to, create or otherwise cause or permit to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary (A) to pay dividends or make any other distributions on its Capital Stock or pay any Indebtedness owed toof the Company to:

(1)pay dividends or make any other distributions on its Capital Stock or pay any Indebtedness owed to the Company or any Restricted Subsidiary of the Company (provided,however, that (i) the priority that any series of Preferred Stock of a Restricted Subsidiary of the Company has in receiving dividends or liquidating distributions shall not be deemed to be a restriction on the ability to pay dividends or make other distributions on its Capital Stock for purposes of this covenant and (ii) the subordination of Indebtedness owed to the Company or any Restricted Subsidiary to other Indebtedness incurred by any Restricted Subsidiary shall not be deemed a restriction on the ability to pay Indebtedness);

(2)make any loans or advances to the Company or a Restricted Subsidiary of the Company (it being understood that the subordination of loans or advances made to the Company or any Restricted Subsidiary to other Indebtedness incurred by the Company or any Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances); or

(3)sell, lease or transfer any of its property or assets to the Company or a Restricted Subsidiary of the Company.

However, the preceding restrictions will not apply to encumbrances or a Restricted Subsidiary, (B) to make any loansrestrictions existing under or advances to the Company or a Restricted Subsidiary or (C) to transfer any of its property or assets to the Company or a Restricted Subsidiary, except:by reason of:

 

 (1)any encumbrance or restriction in anany agreement in effect on the Issue Date (including without limitation, the Credit Agreement);

 

 (2)the Indenture, the Notes and the Subsidiary Guarantees;

(3)any encumbrance or restriction with respect to a Restricted Subsidiary of the Company pursuant to an agreement relating to any Indebtedness Incurredincurred by such Restricted Subsidiary on or prior to the date on which such Restricted Subsidiary was acquired by the Company or became a Restricted Subsidiary of the Company (other than Indebtedness Incurredincurred as consideration in, or to provide all or any portion of the funds or credit support utilized to consummate, the transaction or series of related transactions pursuant to which such Restricted Subsidiary became a Restricted Subsidiary of the Company or was acquired by the Company) and outstanding on such date;

 

 (3)(4)

any encumbrance or restriction pursuant to an agreement effecting a Refinancing of Indebtedness Incurredincurred pursuant to an agreement referred to in clause (1), (2) or (2)(3) of this covenantparagraph or this clause (3)(4) or

contained in any amendment to an agreement referred to in clause (1), (2) or (2)(3) of this covenantparagraph or this clause (3)(4);provided however, that the encumbrances and restrictions with respect to such Restricted Subsidiary contained in any such refinancing agreement or amendment are no less favorable to the Noteholders than encumbrances and restrictions with respect to such Restricted Subsidiary contained in such agreements;

(4)any such encumbrance or restriction consisting of customary nonassignment provisionsagreements, as determined in leases governing leasehold interests togood faith by the extent such provisions restrict the transfer of the lease or the property leased thereunder;Company;

 

 (5)(a) customary non-assignment provisions in any contract, license, lease or sale or exchange agreement and (b) cash, other deposits, or net worth or similar requirements, in each case, imposed by suppliers, customers or lessors under contracts or leases, in the case of each of clauses (a) and (b), entered into in the ordinary course of business;

(6)in the case of clause (C) above,(3) of the preceding paragraph, restrictions contained in Capital Lease Obligations, purchase money obligations, security agreements or mortgages securing Indebtedness of a Restricted Subsidiary of the Company to the extent such restrictions restrict the transfer of the property subject to such Capital Lease Obligations, purchase money obligations, security agreements or mortgages;

 

 (6)(7)any restriction with respect to a Restricted Subsidiary of the Company imposed pursuant to an agreement entered into for the sale or disposition of all or substantially all the Capital Stock or assets of such Restricted Subsidiary pending the closing of such sale or disposition;

 (7)(8)any encumbrance or restriction in any agreement or instrument in the Existing Receivables FacilityFinancing and in connection with a Qualified Receivables Transaction;

(9)Refinancing Indebtedness;provided that the encumbrances or restrictions contained in the agreements governing such Refinancing Indebtedness are not materially more restrictive, taken as a whole, than those contained in the agreements governing the Indebtedness being refinanced, as determined in good faith by the Company;

(10)Liens securing Indebtedness otherwise permitted to be incurred under the provisions of the covenant described below under the caption “—Limitation on Liens” that limit the right of the debtor to dispose of the assets subject to such Liens;

(11)provisions limiting the disposition or distribution of assets or property in joint venture agreements, asset sale agreements, sale-leaseback agreements, stock sale agreements and other similar agreements (including, without limitation, agreements entered into in connection with a Restricted Investment) entered into with the approval of the Company’s Board of Directors, which limitation is applicable only to the assets that are the subject of such agreements;

(12)encumbrances or restrictions applicable only to a Restricted Subsidiary of the Company that is not a Domestic Subsidiary;

(13)customary encumbrances and restrictions contained in agreements of the types described in the definition of “Permitted Business Investments”;

(14)agreements governing Hedging Contracts, Interest Rate Agreements and Currency Agreements incurred in the ordinary course of business;

(15)any encumbrance or restriction with respect to an Unrestricted Subsidiary pursuant to or by reason of an agreement that the Unrestricted Subsidiary is a party to or entered into before the date on which such Unrestricted Subsidiary became a Restricted Subsidiary of the Company;provided that such agreement was not entered into in anticipation of the Unrestricted Subsidiary becoming a Restricted Subsidiary of the Company and any such encumbrance or restriction does not extend to any assets or property of the Company or any other Restricted Subsidiary of the Company other than the assets and property of such Unrestricted Subsidiary;

(16)provisions limiting the distribution or dividend of assets or any portion of Capital Stock of SpinCo in connection with a Qualified Spin Transaction; and

 

 (8)(17)any encumbrances or restrictions imposed by any amendments restatements, modifications, renewals or refinancings (regardless of whether the principal amount of underlying Indebtedness is increased or decreased) of the contracts, instruments or obligations referred to in clauses (1) through (6) above;(16) of this paragraph;providedthat such amendments or refinancings are in the good faith judgment of the Company’s Board of Directors, nonot materially more materially restrictive with respect to such encumbrances and restrictions than those prior to such amendment or refinancing.refinancing, as determined in good faith by the Company.

Limitation on salesSales of assetsAssets and subsidiary stockSubsidiary Stock

(a) The Company will not, and will not permit any of its Restricted SubsidiarySubsidiaries to, directly or indirectly, consummate any Asset Disposition unless:

 

 (1)the Company or sucha Restricted Subsidiary receives consideration at least equal to the fair market value (such fair market value to be determined onFair Market Value (measured as of the date of contractually agreeingthe definitive agreement with respect to such Asset Disposition in good faith by an Officer or an officer of such Restricted Subsidiary with responsibility for such transaction, or the Board of Directors if the Asset Disposition exceeds $50.0 million, which determination shall be conclusive evidence of compliance with this provision)Disposition), of the equityassets and assets subjectEquity Interests issued or sold pursuant to such Asset Disposition;

 

 (2)at least 75% of the consideration received by the Company or suchits Restricted SubsidiarySubsidiaries is in the form of cash or cash equivalents,Temporary Cash Investments, Additional Assets or any combination thereof (collectively, the “Cash Consideration”);provided that each of the following will be deemed to be cash:

(a)

any liabilities, as shown on the Company’s most recent consolidated balance sheet, of the Company or any Restricted Subsidiary (other than contingent liabilities and liabilities that are by

their terms subordinated to the Notes or any Subsidiary Guarantee) that are assumed by the transferee by written agreement that releases the Company or such Restricted Subsidiary from or indemnifies the Company or such Restricted Subsidiary against further liability;

(b)with respect to any Asset Disposition of Oil and Gas Properties by the Company or any Restricted Subsidiary where the Company or such Restricted Subsidiary retains an interest in such property, the costs and expenses of the Company or such Restricted Subsidiary related to the exploration, development, completion or production of such properties and activities related thereto which the transferee (or an Affiliate thereof) agrees to pay;

(c)any securities, notes or other obligations received by the Company or any Restricted Subsidiary from the transferee that are, within 180 days of the Asset Disposition, converted by the Company or such Restricted Subsidiary into cash, to the extent of the cash received in that conversion; and

(d)any Designated Non-Cash Consideration received by the Company or such Restricted Subsidiary in such Asset Disposition having an aggregate Fair Market Value, taken together with all other Designated Non-Cash Consideration received pursuant to this clause (d), not to exceed an amount equal to 7.5% of the Company’s ACNTA (determined at the time of receipt of such Designated Non-Cash Consideration), with the Fair Market Value of each item of Designated Non-Cash Consideration being measured at the time received and without giving effect to subsequent changes in value; and

 

 (3)an amount equal to 100% of the Net Available Cash from such Asset Disposition is applied by the Company (or sucha Restricted Subsidiary, as the case may be): within 365 days to:

 

 (A)(a)to prepay, repay, redeem or purchase Secured Indebtedness of the Company or any Subsidiary Guarantor or Indebtedness (other than any Disqualified Stock) of a Wholly Owned Subsidiary that is not a Subsidiary Guarantor (in each case other than Indebtedness owed to the Company or an Affiliate of the Company) within 365 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash, provided such prepayment, repayment, redemption or purchase permanently retires, or reduces the related loan commitment (if any) for, such Indebtedness in an amount equal to the principal amount so prepaid, repaid, redeemed or purchased;Senior Debt;

 (B)(b)to the extent the Company elects, to acquire Additional Assets or to make capital expenditures in a Permitted Business within 365 days from the later of the date of such Asset Disposition or the receipt of such Net Available Cash;Assets; or

 

 (C)(c)to make an offer to the Holders of the Notes (and to holders of other Pari Passu Indebtedness of the Company designated by the Company) to purchase Notes (and such other Pari Passu Indebtedness of the Company) pursuant to and subject to the conditions containedcapital expenditures in the Indenture, as set forth below.a Permitted Business.

The requirement of clauses (3)(b) and (3)(c) of the preceding paragraph shall be deemed to be satisfied if a bona fide binding contract committing to make the investment, acquisition or expenditure referred to therein is entered into by the Company (or any Restricted Subsidiary of the Company) with a Person other than a Restricted Subsidiary of the Company within the time period specified in the preceding paragraph and such Net Available Cash is subsequently applied in accordance with such contract within six months following the date such agreement is entered into.

Pending application of Net Available Cash pursuant to this covenant, such Net Available Cash shall be invested in Temporary Cash Investments or applied to temporarily reduce revolving credit Indebtedness.

For the purposes of this covenant, any liabilities, as shown on the Company’s or such Restricted Subsidiary’s most recent balance sheet, of the Company or any Restricted Subsidiary (other than contingent liabilities and Subordinated Obligations)of the Company may apply the Net Available Cash to temporarily reducing Indebtedness under any Credit Facility or otherwise invest the Net Available Cash in any manner that are assumedis not prohibited by the transferee of any such assets pursuant to (1) a customary novation agreement that releases the Company or such Restricted Subsidiary from further liability or (2) an assignment agreement that includes, in lieu of such a release, the agreement of the transferee or its parent company to indemnify and hold harmless the Company or such Restricted Subsidiary from and against any loss, liability or cost in respect of such assumed liability, shall be deemed to be cash or cash equivalents.Indenture.

(b) The amount of Net Available Cash not applied or invested as provided above will constitute “Excess Proceeds.” When the aggregate amount of Excess Proceeds equals or exceeds $50.0$50 million, the Company shall make suchan offer to purchase Notes and other Pari Passu Indebtedness of the Company (an “Offer”) on or before the 366th day after the later of the date of such Asset Disposition or the receipt of such Net Available Cash,within 30 days, and shall purchase Notes tendered pursuant to an Offer by the Company for the Notes (and such other Pari Passu Indebtedness of the Company) at a purchase price of 100% of their principal amount without premium, plus accrued but unpaid interest (including additionalto, but not including, the date of purchase, subject to the right of Holders of record on the relevant record date to receive interest if any)on the relevant interest payment date (or, in respect of such other Pari Passu Indebtedness of the Company, such lesser price, if any, as may be provided for by the terms of such Pari PassuPariPassu Indebtedness of the Company) in accordance with the procedures (including prorating in the event of oversubscription) set forth in the Indenture. If the aggregate purchase price of the securities tendered exceeds the amount of Excess Proceeds, the Company will select the securities to be purchased on apro rata basis (except that any Notes represented by a Note in global form will be selected by such method as DTC or its nominee or successor may require or, where such nominee or successor is the Trustee, a method that most nearly

approximatespro rata selection as the Trustee deems fair and appropriate unless otherwise required by law) but in round denominations, which in the case of the Notes will be denominations of $2,000 principal amount or integral multiples of $1,000 in excess thereof. Upon completion of such an Offer, to purchase, Excess Proceeds will be deemed to be reset to zero.

(c) The provisions of the Indenture relative to the Company’s obligation to make an offer to repurchase the Notes as a result of an Asset Disposition may be waived or modified with the consent of a majority in principal amount of the outstanding Notes (including, without limitation, Additional Notes, if any).

The Company will comply, to the extent applicable, with the requirements of Section 14(e) ofRule 14e-1 under the Exchange Act and any other securities laws or regulations in connection with the repurchase of Notes pursuant to this covenant. To the extent that the provisions of any securities laws or regulations conflict with provisions of this covenant, the Company will comply with the applicable securities laws and regulations and will not be deemed to have breached its obligations under this covenant by virtue of its compliance with such securities laws or regulations.

Limitation on affiliate transactionsAffiliate Transactions

(a) The Company shall not, and shall not permit any of its Restricted SubsidiarySubsidiaries to, enter into or permit to exist any transaction (including the purchase, sale, lease or exchange of any property, employee compensation arrangements or the rendering of any service) with any Affiliate of the Company (an “Affiliate Transaction”) unless the terms thereof:

 

 (1)are nonot materially less favorable to the Company or such Restricted Subsidiary than those that could be obtained at the time of such transaction in arm’s-length dealings with a Person who is not such an Affiliate;Affiliate or, if in the good faith judgment of the Board of Directors, no comparable transaction is available with which to compare such Affiliate Transaction, such Affiliate Transaction is otherwise fair to the Company or the relevant Restricted Subsidiary from a financial point of view; and

 

 (2)if such Affiliate Transaction involves an amount in excess of $25.0$30 million, are set forth in writing and have been approved by the Board of Directors, including a majority of the members of the Board of Directors having no personal stake in such Affiliate Transaction; and

(3)if such Affiliate Transaction involves an amount in excess of $75.0 million, have been determined by a nationally recognized investment banking firm or other qualified independent appraiser to be fair, from a financial standpoint, to the Company and its Restricted Subsidiaries.Transaction.

(b) The following items will not be deemed to be Affiliate Transactions under the Indenture and, therefore, will not be subject to the provisions of the foregoing paragraph (a) shall not prohibit:paragraph:

 

 (1)any employment agreement, employee benefit plan, officer or director indemnification agreement or any similar arrangement entered into by the Company or any of its Restricted Subsidiaries in the ordinary course of business and payments pursuant thereto;

(2)any sale of hydrocarbonsHydrocarbons or other mineral products to an Affiliate of the Company or the entering into or performance of Hedging Contracts, gascontracts for exploring for, producing, gathering, transportationmarketing, processing, storing or processingotherwise handling Hydrocarbons, or activities or services reasonably related or ancillary thereto, or other operational contracts or oil or natural gas marketing or exchange contracts with an Affiliate of the Company, in each case, on market terms andentered into in the ordinary course of business so longwhich are fair to the Company and its Restricted Subsidiaries taken as a whole, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party, as determined in good faith by the terms of any such transaction (or the arrangement or framework for establishing such terms) are approved by a majority of the members of the Board of Directors who are disinterested with respect to such transaction;Company;

 

 (2)(3)the sale or issuance to an Affiliate of the Company of Capital Stock of the Company that does not constitute Disqualified Stock, and the sale to an Affiliate of the Company of Indebtedness (including Disqualified Stock) of the Company in connection with an offering of such Indebtedness in a market transaction and on terms substantially identical to those of other purchasers in such market transaction;

 

 (3)(4)transactions contemplated by any employment agreementwith a Person (other than an Unrestricted Subsidiary of the Company) that is an Affiliate of the Company solely because the Company owns, directly or other compensation planthrough a Restricted Subsidiary of the Company, Capital Stock in, or arrangement existing on the Issue Date or thereafter entered into bycontrols, such Person;

(5)transactions between the Company or any Restricted Subsidiary of itsthe Company and any Person, a director of which is also a director of the Company and such director is the sole cause for such Person to be deemed an Affiliate of the Company or such Restricted Subsidiaries inSubsidiary;provided that such director shall abstain from voting as a director of the ordinary course of business;Company on any matter involving such other person;

 

 (4)(6)the payment of reasonable fees to and reimbursements of expenses (including travel and entertainment expenses and similar expenditures in the ordinary course of business) of employees, officers, directors of the Company and its Restricted Subsidiaries who are not employeesor consultants of the Company or any Restricted Subsidiary;of its Subsidiaries;

 

 (5)(7)transactions between or among the Company and its Restricted Subsidiaries;

 

 (6)(8)Restricted Payments that are permitted by the provisions of the Indenture described above under the caption “—Limitation on restricted payments”;Restricted Payments” or Permitted Investments;

 

 (7)(9)sales, contributions, conveyances and other transfers of Receivables and related assets of the type specified in the definition of Qualified Receivables Transaction to a Receivables Subsidiary or any other similar transactions in connection with any Qualified Receivables Transaction; and

 

 (8)(10)[Reserved];transactions effected in accordance with the terms of any agreement to which the Company or any Restricted Subsidiary of the Company is a party as of the Issue Date and scheduled in the Indenture, and any amendments, modifications, supplements, extensions, renewals or replacements thereof so long as such amendments, modifications, supplements, extensions, renewals or replacements do not materially and adversely affect the rights, taken as a whole, of the Holders of the Notes as compared to the terms of such agreement in effect on the Issue Date, as determined in good faith by the Company;

 

 (9)(11)any transaction in which the Company or any of its Restricted Subsidiaries, as the case may be, delivers to the Trustee a letter from an accounting, appraisal or investment banking firm of national standing stating that such transaction is fair to the Company or such Restricted Subsidiary from a financial point of view or that such transaction meets the requirements of clause (1) of the preceding paragraph;

(12)loans or advances to employees, officers or directors in the ordinary course of business and approved by the Company’s Board of Directors in an aggregate principal amount not to exceed $7.5 million outstanding at any one time.time;

(13)agreements and transactions entered into or effected in connection with a Qualified Spin Transaction; and

(14)(a) Guarantees by the Company or any of its Restricted Subsidiaries of performance of obligations of the Company’s Unrestricted Subsidiaries in the ordinary course of business, except for Guarantees of Indebtedness and (b) pledges by the Company or any Restricted Subsidiary of the Company of (or any Guarantee by the Company or any Restricted Subsidiary limited in recourse solely to) Equity Interests in Unrestricted Subsidiaries for the benefit of lenders or other creditors of the Company’s Unrestricted Subsidiaries.

Limitation on liensLiens

The Company shall not, and shall not permit any of its Restricted SubsidiarySubsidiaries to, directly or indirectly, create, incur, assume or permit or suffer to exist any Lien (other(the “Initial Lien”), other than Permitted Liens)Liens, of any nature whatsoever against any assets of the Company or any Restricted Subsidiary of the Company (including Capital Stock of a Restricted Subsidiary), whether owned at the Issue Date or thereafter acquired, which Lien secures Indebtedness or trade payables, unless contemporaneously therewith:

 

 (1)in the case of any such Lien securing an obligation that rankspari passu with the Notes or a Subsidiary Guarantee, effective provision is made to secure the Notes or such Subsidiary Guarantee, as the case may be, at least equally and ratably with or prior to such obligation with a Lien on the same assets of the Company or such Restricted Subsidiary, as the case may be; and

 (2)in the case of any such Lien securing an obligation that is subordinated in right of payment to the Notes or a Subsidiary Guarantee, effective provision is made to secure the Notes or such Subsidiary Guarantee, as the case may be, with a Lien on the same assets of the Company or such Restricted Subsidiary, as the case may be, that is prior to the Lien securing such subordinated obligation,obligation;

in each case,provided that any Lien created for so long asthe benefit of the Holders of the Notes pursuant to this covenant shall provide by its terms that such obligation is secured by suchLien shall be automatically and unconditionally released and discharged upon the release and discharge of the Initial Lien.

Limitation on Sale and Leaseback Transactions

The Company will not, and will not permit any Restricted Subsidiary to, directly or indirectly, enter into any Sale/Leaseback Transaction;providedthat the Company or any Restricted Subsidiary may enter into a Sale/ Leaseback Transaction if:

(1)the Company or such Restricted Subsidiary could have (a) Incurred the Indebtedness attributable to such Sale/Leaseback Transaction pursuant to the covenant described under “—Limitation on indebtedness” and (b) Incurred a Lien to secure such Indebtedness without equally and ratably securing the Notes pursuant to the covenant described under “—Limitation on liens”;

(2)the gross cash proceeds of such Sale/Leaseback Transaction are at least equal to the fair market value of the asset that is the subject of such Sale/Leaseback Transaction; and

(3)the transfer of assets in such Sale/Leaseback Transaction is permitted by, and the Company or the applicable Restricted Subsidiary applies the proceeds of such transaction in accordance with, the covenant described under “—Limitation on sales of assets and subsidiary stock.”

Merger and consolidationConsolidation

The Company shall not consolidate with or merge with or into, or convey, transfer, lease or lease,otherwise dispose of, in one transaction or a series of related transactions, all or substantially all the assets of the Company and its Restricted Subsidiaries, taken as a whole, to any Person, unless:

 

 (1)(A)(a) the resulting, surviving or transferee Person (if not the Company) (the “Successor Company”) shall be a corporation or a limited liability companyPerson organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and (B)(b) the Successor Company (if not the Company) shall expressly assume by an indenture supplemental thereto, executed and delivered to the Trustee, all the obligations of the Company under the Notes, the Indenture and the registration rights agreement;agreement pursuant to agreements in form reasonably satisfactory to the Trustee;

 

 (2)immediately after giving effect to such transaction, (and treating any Indebtedness which becomes an obligation of the Successor Company or any Restricted Subsidiary as a result of such transaction as having been Incurred by such Successor Company or such Subsidiary at the time of such transaction), no Default shall have occurred and be continuing;

 

 (3)immediately after giving effect to such transaction and any related financing transaction on a pro forma basis as if the same had occurred at the beginning of the applicable four-quarter period, either (i) the Company or the Successor Company (if other than the Company) would be able to Incurincur an additional $1.00 of Indebtedness pursuant to the first paragraph (a) of the covenant described under the caption “—Limitation on indebtedness”;Indebtedness” or (ii) the Consolidated Coverage Ratio of the Company or the Successor Company (if other than the Company) is equal to or greater than the Consolidated Coverage Ratio of the Company immediately prior to such transaction; and

 

 (4)the Company shall have compliedhas delivered to the Trustee an officers’ certificate and an opinion of counsel, each stating that such transaction and such supplemental indenture, if any, comply with certain additional conditions set forth in the Indenture;Indenture.

provided, however,that clause (3) shall not be applicable to any such transaction solely between the Company and any Restricted Subsidiary.

For purposes of this paragraph, except as provided in the foregoing,next paragraph, the transfer (by lease, assignment, sale or otherwise, in a single transaction or series of transactions) of all or substantially all of the properties or assets of one or more Restricted Subsidiaries, the Capital Stock of which constitute all or substantially all of the properties and assets of the Company, will be deemed to be the transfer of all or substantially all of the properties and assets of the Company.

The foregoing notwithstanding, the restrictions in the preceding paragraph will not apply to any disposition of assets resulting from a Qualified Spin Transaction that is effected in accordance with the definition of that term. Furthermore, any Restricted Subsidiary of the Company may consolidate with or merge into the Company and the Company may consolidate with or merge into or dispose of all or substantially all of its assets to any Guarantor, without complying with the foregoing clause (3) in connection with any such consolidation, merger or disposition.

The foregoing notwithstanding, the Company is permitted to reorganize as any other form of entity in accordance with the following proceduresprovided that:

(1)the reorganization involves the conversion (by merger, sale, contribution or exchange of assets or otherwise) of the Company into a form of entity other than a corporation formed under Delaware law;

(2)the entity so formed by or resulting from such reorganization is an entity organized or existing under the laws of the United States, any state thereof or the District of Columbia;

(3)the entity so formed by or resulting from such reorganization assumes all the obligations of the Company under the Notes and the Indenture pursuant to a supplemental indenture in form reasonably satisfactory to the Trustee;

(4)immediately after such reorganization no Default exists; and

(5)such reorganization is not materially adverse to the Holders or Beneficial Owners of the Notes.

The Successor Company shall be the successor to the Company and shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture, and the predecessor Company, except in the case of a lease, shall be released from the obligation to pay the principal of and interest on the Notes.

The Company will not permit any Subsidiary Guarantor to consolidate with or merge with or into, or convey, transfer, lease or otherwise dispose of, in one transaction or a series of transactions, all or substantially all of its assets to any Person (other than the Company or a Subsidiary Guarantor) unless:unless either the Subsidiary Guarantee of such Subsidiary Guarantor is released as described above under “—Guarantees” or:

 

 (1)the resulting, surviving or transferee Person (if not such Subsidiary) shall be a Person organized and existing under the laws of the jurisdiction under which such Subsidiary was organized or under the laws of the United States of America, or any State thereof or the District of Columbia, and if such Person is not the Company, such Person shall expressly assume, by executing a Guarantee Agreement,supplemental indenture in form reasonably satisfactory to the Trustee, all the obligations of such Subsidiary, if any, under its Subsidiary Guarantee and the registration rights agreement;

 

 (2)immediately after giving effect to such transaction or transactions on a pro forma basis (and treating any Indebtedness which becomes an obligation of the resulting, surviving or transferee Person as a result of such transaction as having been issued by such Person at the time of such transaction), no Default shall have occurred and be continuing; and

 

 (3)the Company shall have complied with certain additional conditions contained in the Indenture.

The provisions of clauses (1) and (2) above shall not apply to any one or more transactions which constitute an Asset Disposition if the Company has complied with the applicable provisions of the covenant described under “—Limitation on sales of assets and subsidiary stock” above.

SEC reportsReports

Whether or not required by the Securities and Exchange Commission (the “SEC”), so long as any Notes are outstanding, the Company will furnish or make available to the Holders of Notes, within the time periods specified in the SEC’s rules and regulations for a company that is subject to Section 13(a) or 15(d) of the Exchange Act:

 

 (1)all quarterly and annual financial information that would be required to be contained in a filing with the SEC on Forms 10-Q and 10-K if the Company were required to file such Forms, including a “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and, with respect to the annual information only, a report on the annual financial statements by the Company’s certified independent accountants; and

 

 (2)all current reports that would be required to be filed with the SEC on Form 8-K if the Company were required to file such reports;

providedthat any such above information or reports filed with the EDGAR system of the SEC (or any successor system) and available publicly on the Internet shall be deemed to be furnished or made available to the Holders of Notes.

TheIf the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries and such Unrestricted Subsidiaries hold more than 10.0% of the Adjusted Consolidated Net Tangible Assets of the Company in the aggregate, then the quarterly and annual financial information required by the preceding paragraph shall include

a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Company’s Unrestricted Subsidiaries.

In addition, whether or not required by the SEC, the Company will file a copy of all of the information and reports referred to in clauses (1) and (2) above with the SEC for public availability within the time periods specified in the SEC’s rules and regulations (unless the SEC will not accept such a filing) and make such information available to securities analysts and prospective investors upon request. The Company agrees that it will not take any action for the purpose of causing the SEC not to accept such filings. If, notwithstanding the foregoing, the SEC will not accept such filings for any reason, the Company will post the reports specified in the preceding sentence on its website within the time periods that would apply if the Company were required to file those reports with the SEC.

The Company and the Subsidiary Guarantors have agreedwill agree in the Indenture that, for so long as any Notes remain outstanding and are “restricted securities” under Rule 144 of the Securities Act, if at any time they are not required to file with the SEC the reports required by the first paragraph of this covenant, the Company and the Subsidiary Guarantors will furnish to Holders of Notes and securities analysts and prospective investors, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act.

Future subsidiary guarantorsSubsidiary Guarantors

If, after the Issue Date, (a)any Domestic Subsidiary of the Company that is not an Immaterial Subsidiary and that is not already a Subsidiary Guarantor Guarantees or otherwise becomes an obligor with respect to any other Indebtedness of the Company or any Restricted Subsidiary Guarantor in excess of the De Minimis Amount, then such Domestic Subsidiary will become a Guarantor by executing a supplemental indenture and delivering it to the Trustee within 20 Business Days of the date on which it Guaranteed or became an obligor with respect to such Indebtedness;provided, however, that the preceding shall acquire or create another domestic wholly ownednot apply to Subsidiaries of the Company that have properly been designated as Unrestricted Subsidiaries in accordance with the Indenture for so long as they continue to constitute Unrestricted Subsidiaries. Notwithstanding the preceding, any Subsidiary (other thanGuarantee of a Domestic Subsidiary that has been designatedwas incurred pursuant to this paragraph shall provide by its terms that it shall be automatically and unconditionally released at such time as such Subsidiary Guarantor ceases to Guarantee or otherwise be an Unrestricted Subsidiary), (b)obligor with respect to any Unrestricted Subsidiary that is a domestic wholly owned Subsidiary is redesignated a Restricted Subsidiary or (c) any Restricted Subsidiary (including any newly formed, newly acquired or newly redesignated Restricted Subsidiary) Guarantees anyother Indebtedness of the Company then,or any other Subsidiary Guarantor in each such case,excess of the De Minimis Amount.

Designation of Unrestricted Subsidiaries

The Board of Directors of the Company shall, within 30 days following such event, cause suchmay designate any Restricted Subsidiary to:to be an Unrestricted Subsidiary if that designation would not cause a Default. If a Restricted Subsidiary is designated as an Unrestricted Subsidiary, the aggregate Fair Market Value of all outstanding Investments owned by the Company and its Restricted Subsidiaries in the Subsidiary designated as Unrestricted will be deemed to be either an Investment made as of the time of the designation that will reduce the amount available for Restricted Payments under the covenant described above under the caption “—Limitation on Restricted Payments” or represent a Permitted Investment under one or more clauses of the definition of Permitted Investments, as determined by the Company. That designation will only be permitted if the Investment would be permitted at that time and if the Restricted Subsidiary otherwise meets the definition of an Unrestricted Subsidiary.

(1)execute and deliver to the Trustee (a) a supplemental indenture pursuant to which such Restricted Subsidiary shall unconditionally Guarantee all of the Company’s obligations under the Notes and the Indenture and (b) a notation of Guarantee in respect of its Subsidiary Guarantee; and

(2)deliver to the Trustee one or more opinions of counsel that such supplemental indenture (a) has been duly authorized, executed and delivered by such Restricted Subsidiary and (b) constitutes a valid and legally binding obligation of such Restricted Subsidiary in accordance with its terms.

DefaultsAny designation of a Subsidiary of the Company as an Unrestricted Subsidiary will be evidenced to the Trustee by filing with the Trustee a copy of a resolution of the Board of Directors giving effect to such designation and an officers’ certificate certifying that such designation complied with the preceding conditions and was permitted by the covenant described above under the caption “—Limitation on Restricted Payments.” If, at any time, any Unrestricted Subsidiary would fail to meet the preceding requirements as an Unrestricted Subsidiary, it will thereafter cease to be an Unrestricted Subsidiary for purposes of the Indenture and any Indebtedness of such Subsidiary will be deemed to be incurred by a Restricted Subsidiary of the Company as of such date and, if such Indebtedness is not permitted to be incurred as of such date under the covenant described under the caption “—Limitation on Indebtedness,” the Company will be in default of such covenant.

AnThe Board of Directors of the Company may at any time designate any Unrestricted Subsidiary to be a Restricted Subsidiary of the Company;provided that such designation will be deemed to be an incurrence of Indebtedness by a Restricted Subsidiary of the Company of any outstanding Indebtedness of such Unrestricted Subsidiary, and such designation will only be permitted if (1) such Indebtedness is permitted under the covenant

described under the caption “—Limitation on Indebtedness,” calculated on a pro forma basis as if suchdesignation had occurred at the beginning of the applicable reference period; and (2) no Default or Event of Default would be in existence following such designation.

Defaults

Each of the following is defined in the Indenture as:an “Event of Default”:

 

 (1)a default in anythe payment when due of interest or additional interest on the Notes when the same becomes due and payable and such default continues for a period of 30 consecutive days;

 

 (2)a default in the payment of principal of any Note when the same becomes due and payable at(at its Stated Maturity, upon optional redemption, upon required purchase, upon declaration of acceleration or otherwise;otherwise);

 

 (3)the failure by the Company for 30 days after written notice has been given to the Company by the Trustee or Holders of at least 25% in principal amount of the Notes then outstanding to comply with any of its obligations to offer to purchase or purchase Notes in the covenants described above under “—Change of Control” and “—Certain Covenants—Limitation on Sales of Assets and Subsidiary Stock” or with its obligations under “—Certain covenants—Covenants—Merger and consolidation”Consolidation” above;

 

 (4)the failure by the Company to comply for 30 consecutive180 days after written notice to the Company from the Trustee or Holders of at least 25% in principal amount of the Notes then outstanding to comply with any of its obligations in the covenants described above under “—Change of control” (other than a failure to purchase Notes), “—Limitation on indebtedness,” “—Limitation on restricted payments,” “—Limitation on restrictions on distributions from restricted subsidiaries,” “—Limitation on sales of assets and subsidiary stock” (other than a failure to purchase Notes), “—Limitation on affiliate transactions,” “—Limitation on liens,” “—Limitation on Sale and Leaseback Transactions” or “Future subsidiary guarantors”Certain Covenants—Reports”;

 

 (5)the failure by the Company for 60 days after written notice to the Company by the Trustee or Holders of at least 25% in principal amount of the Notes then outstanding to comply for 60 consecutive days after notice with any of its other agreements contained in the Notes or such Indenture;

 

 (6)default under any mortgage, indenture or instrument under which there is issued or by which there is secured or evidenced any Indebtedness offor money borrowed by the Company or any of its Restricted SubsidiarySubsidiaries (or the payment of which is not paid withinGuaranteed by the Company or any applicableof its Restricted Subsidiaries), whether such Indebtedness or Guarantee now exists, or is created after the Issue Date, if that default:

(a)is caused by a failure to pay principal of, premium, if any, on, or interest, if any, on, such Indebtedness prior to the expiration of the grace period after final maturityprovided in such Indebtedness on the date of such default (a “Payment Default”); or

(b)results in the maturityacceleration of such Indebtedness is accelerated by the holders thereof because of a default (and such acceleration is not rescinded or annulled) and the total amount of all such Indebtedness unpaid or accelerated exceeds $75.0 million (the “cross acceleration provision”);prior to its express maturity,

and, in each case, the principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Payment Default or the maturity of which has been so accelerated, aggregates $75 million or more;provided,however, that if, prior to any acceleration of the Notes, (i) any such Payment Default is cured or waived, (ii) any such acceleration is rescinded, or (iii) such Indebtedness is repaid during the 30 Business Day period commencing upon the end of any applicable grace period for such Payment Default or the occurrence of such acceleration, as the case may be, any Default or Event of Default (but not any acceleration of the Notes) caused by such Payment Default or acceleration shall be automatically rescinded, so long as such rescission does not conflict with any judgment, decree or applicable law;

 

 (7)certain events of bankruptcy, insolvency or reorganization of the Company or a Significant Subsidiary (the “bankruptcy provisions”); as described in the Indenture;

 

 (8)

any judgment or decree for the payment of money in an uninsured or unindemnified amount in excess of $75.0$75 million or its foreign currency equivalent at the time is rendered against the Company or a

Significant Subsidiary remains outstanding(to the extent not covered by insurance or indemnity or, if covered by insurance or indemnity, to the extent the insurer or indemnitor has not disclaimed coverage), which judgments are not discharged, waived, bonded or stayed for a period of 60 days following the entry of such judgment or decree and is not discharged, waived, bonded or stayed within ten days after notice (the “judgment default provision”); or

 (9)any Subsidiary Guarantee of any Significant Subsidiary ceases to be in full force and effect (other than in accordance with the terms of such Subsidiary Guarantee and the Indenture) or is declared null and void and unenforceable or found to be invalid or any Subsidiary Guarantor denies its liability under its Subsidiary Guarantee (other than by reason of release of a Subsidiary Guarantor from its Subsidiary Guarantee in accordance with the terms of the Indenture and the Subsidiary Guarantee) (the “guarantee default provision”).

However, a default under clause (4) or (5) will not constitute an Event of Default until the Trustee or the Holders of at least 25% in principal amount of the outstanding Notes notify the Company of the default and the Company does not cure such default within the time specified after receipt of such notice.

If an Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the outstanding Notes may declare the principal of and accrued but unpaid interest on all the Notes to be due and payable. Upon such a declaration, such principal and interest shall be due and payable immediately. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Company occurs and is continuing, the principal of and interest on all the Notes will ipso facto become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders of the Notes. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Notes may rescind any such acceleration with respect to the Notes and its consequences.

Subject to the provisions of the Indenture relating to the duties of the Trustee in case an Event of Default occurs and is continuing, the Trustee will be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders of the Notes unless such Holders have furnished to the Trustee reasonable indemnity or security satisfactory to it against any loss, liability or expense. Except to enforce the right to receive payment of principal premium (if any) or interest when due, no Holder of a Note may pursue any remedy with respect to the Indenture or the Notes unless:

 

 (1)such Holder has previously given the Trustee notice that an Event of Default is continuing;

 

 (2)Holders of at least 25% in principal amount of the outstanding Notes have requested in writing the Trustee to pursue the remedy;

 

 (3)such Holders have furnishedoffered the Trustee reasonable security or indemnity satisfactory to it against any loss, liability or expense;

 

 (4)the Trustee has not complied with such request within 60 days after the receipt thereof and the offer of security or indemnity; and

 

 (5)the Holders of a majority in principal amount of the outstanding Notes have not given the Trustee a direction inconsistent with such request within such 60-day period.

Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Notes are givenwill have the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder of a Note or that would involve the Trustee in personal liability.

The Indenture provideswill provide that if a Default occurs and is continuing and is known to the Trustee, the Trustee must mail to each Holder of the Notes (or send electronically if DTC is the recipient) notice of the Default within 90 days after it occurs. Except in the case of a Default in the payment of principal of or interest on any Note, the Trustee may withhold notice if and so long as a committee of its trust officersit determines that withholding notice is not opposed to the interest of the Holders of

the Notes. In addition, the Company iswill be required to deliver to the Trustee, within 120 days after the end of each fiscal year, a certificate indicating whether the signers thereof know of any Default that occurred during the previous year. The Company also iswill be required to deliver to the Trustee, within 30 days afterof becoming aware of the occurrence thereof, written notice of any event which would constitute certain Defaults, their status and what action the Company is taking or proposes to take in respect thereof.

No Personal Liability of Directors, Officers, Employees and Stockholders

No director, officer, employee, manager, incorporator, member, partner or stockholder or other owner of Capital Stock of the Company or any of its Subsidiaries, as such, will have any liability for any obligations of the Company or the Subsidiary Guarantors under the Notes, the Indenture or the Subsidiary Guarantees, or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of a Note by accepting the Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.

Amendments and waiversWaivers

Subject to certain exceptions, the Indenture may be amended with the consent of the Holders of a majority in principal amount of the Notes then outstanding (including consents obtained in connection with a tender offer or exchange for the Notes) and any past default or compliance with any provisions may also be waived with the consent of the Holders of a majority in principal amount of the Notes then outstanding. However, without the consent of each Holder of an outstanding Note affected thereby, an amendment or waiver may not, among other things:

 

 (1)reduce the amount of Notes whose Holders must consent to an amendment;amendment or waiver;

 

 (2)reduce the rate of or extend the time for payment of interest on any Note;

 

 (3)reduce the principal of or change the Stated Maturity of any Note;

 

 (4)reduce the premium payable upon a required purchase (to the extent the Company has at the time become obligated by the terms of the Indenture to effect a required purchase), or the redemption of any Note or changealter or waive any of the time at which any Note may be redeemedprovisions with respect to the redemption or repurchase of the Notes (except provisions relating to minimum required notice of optional redemption or those provisions relating to the covenants to make offers to purchase Notes as described under the captions “—Optional redemption”Change of Control” and “—Certain Covenants—Limitation on Sales of Assets and Subsidiary Stock”);

 

 (5)make any Note payable in money other than that stated in the Note;

 

 (6)impair the right of any Holder of the Notes to receive payment of principal of and interest on such Holder’s Notes on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder’s Notes;

 

 (7)make any change in the amendment provisions which require each Holder’s consent or in the waiver provisions;

 

 (8)make the Notes or the Subsidiary Guarantees subordinated in right of payment to any other obligation; or

 

 (9)make any change in any Subsidiary Guarantee that could adversely affect such Holder.

Without the consent of any Holder of the Notes, the Company, the Subsidiary Guarantors and the Trustee may amend the Indenture or the Notes to:

 

 (1)cure any ambiguity, omission, defect or inconsistency;

 

 (2)provide for the assumption by a successor corporation of the obligations of the Company or the Subsidiary Guarantors under the Indenture;

 

 (3)provide for uncertificated Notes in addition to or in place of certificated Notes (provided that the uncertificated Notes are issued in registered form for purposes of Section 163(f) of the Code, or in a manner such that the uncertificated Notes are described in Section 163(f)(2)(B) of the Code);Notes;

 

 (4)add guaranteesGuarantees with respect to the Notes (including any Subsidiary Guarantee); as provided in the Indenture or otherwise, or to evidence the release of any Subsidiary Guarantor from its Subsidiary Guarantee, as provided in the Indenture;

 

 (5)secure the Notes;Notes or the Subsidiary Guarantees;

 (6)add to the covenants of the Company for the benefit of the Holders of the Notes or surrender any right or power conferred upon the Company or any Subsidiary Guarantor, including to comply with the Subsidiary Guarantors;requirements of the SEC or DTC in order to maintain the transferability of the Notes pursuant to Rule 144A under the Securities Act (“Rule 144A”) or Regulation S under the Securities Act (“Regulation S”);

 

 (7)make any change that does not adversely affect the rights of any Holder of the Notes;

 (8)comply with any requirement of the SEC in connection with the qualification of the Indenture under the Trust Indenture Act; or

 

 (9)provide for the issuance of Additional Notes in accordance with the limitations set forth in the Indenture as of the Issue Date;

(10)evidence or provide for the acceptance of appointment under the Indenture of a successor Trustee; or

(11)conform the text of the Indenture, the Notes or the Subsidiary Guarantees to any provision of this “Description of New Notes,” as certified to the Notes.”Trustee in an officers’ certificate.

The consent of the Holders of the Notes is not necessary under the Indenture to approve the particular form of any proposed amendment. It is sufficient if such consent approves the substance of the proposed amendment.

After an amendment under the Indenture requiring the consent of the Holders becomes effective, the Company is required to mail to Holders of the Notes (or sent electronically if DTC is the recipient) a notice briefly describing such amendment. However, the failure to give such notice to all Holders of the Notes, or any defect therein, will not impair or affect the validity of the amendment.

Transfer

The Notes will be issued in registered form and will be transferable only upon the surrender of the Notes being transferred for registration of transfer. The Company may require payment of a sum sufficient to cover any tax, assessment or other governmental charge payable in connection with certain transfers and exchanges.

Defeasance

The Company at any time may terminate all its obligations under the Notes and the Indenture (“legal defeasance”Legal Defeasance”), except for certain obligations, including those respecting the defeasance trust and obligations to register the transfer or exchange of the Notes, to replace mutilated, destroyed, lost or stolen Notes and to maintain a registrar and paying agent in respect of the Notes. The Company at any time may terminate its obligations under “—Change of control”Control” and under the covenants described under the caption “—Certain covenants”Covenants” (other than the covenant described under the caption “—Certain Covenants—Merger and consolidation”Consolidation”), the operation of the cross acceleration provision, the bankruptcy provisions with respect to Significant Subsidiaries, the judgment default provision and the guarantee default provision described under the caption “—Defaults” above and the limitations contained in clause (3) underof the first paragraph ofunder the caption “—Certain covenants—Covenants—Merger and consolidation” aboveConsolidation” (“covenant defeasance”Covenant Defeasance”).

The Company may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasanceCovenant Defeasance option. If the Company exercises its legal defeasanceLegal Defeasance option, payment of the Notes may not be accelerated because of an Event of Default with respect thereto. If the Company exercises its covenant defeasanceCovenant Defeasance option, payment of the Notes may not be accelerated because of an Event of Default specified in clause (3), (4), (5), (6), (7) (with respect only to Significant Subsidiaries) or (8) under “—Defaults” above or because of the failure of the Company to comply with clause (3) underof the first paragraph ofunder “—Certain covenants—Covenants—Merger and consolidation” above.Consolidation.” If the Company exercises its legal defeasanceLegal Defeasance option or its covenant defeasanceCovenant Defeasance option, each Subsidiary Guarantor will be released from all its obligations with respect to its Subsidiary Guarantee.

In order to exercise either defeasance option,Legal Defeasance or Covenant Defeasance:

(1)

the Company must irrevocably deposit with the Trustee, in trust, for the benefit of the Holders of the Notes, cash in U.S. dollars, Government Securities, or a combination thereof, in amounts as will be sufficient, in the opinion of an accounting, appraisal or investment banking firm of national standing, to

pay the principal of, and interest on, the outstanding Notes on the stated date for payment thereof or on the applicable redemption date, as the case may be, and the Company must specify whether the Notes are being defeased to such stated date for payment or to a particular redemption date (provided that if such redemption is made as provided in the third paragraph under “—Optional Redemption,” (x) the amount of cash in U.S. dollars, Government Securities, or a combination thereof, that must be irrevocably deposited will be determined using an assumed Applicable Premium calculated as of the date of such deposit and (y) the depositor must irrevocably deposit or cause to be deposited additional money in trust on the redemption date as necessary to pay the Applicable Premium as determined by such redemption date);

(2)in the case of Legal Defeasance, the Company must deliver to the Trustee an opinion of counsel reasonably acceptable to the Trustee confirming that (a) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or (b) since the Issue Date, there has been a change in the applicable federal income tax law, in either case to the effect that, and based thereon such opinion of counsel will confirm that, the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Legal Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Legal Defeasance had not occurred;

(3)in the case of Covenant Defeasance, the Company must deliver to the Trustee an opinion of counsel reasonably acceptable to the Trustee confirming that the Holders of the outstanding Notes will not recognize income, gain or loss for federal income tax purposes as a result of such Covenant Defeasance and will be subject to federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such Covenant Defeasance had not occurred;

(4)no Default or Event of Default has occurred and is continuing on the date of such deposit (other than a Default or Event of Default resulting from the borrowing of funds to be applied to such deposit (and any similar concurrent deposit relating to other Indebtedness), and the granting of Liens to secure such borrowings);

(5)such Legal Defeasance or Covenant Defeasance will not result in a breach or violation of, or constitute a default under, any material agreement or instrument (other than the Indenture and the agreements governing any other Indebtedness being defeased, discharged or replaced) to which the Company or any of its Subsidiaries is a party or by which the Company or any of its Subsidiaries is bound;

(6)the Company must deliver to the Trustee an officers’ certificate stating that the deposit was not made by the Company with the intent of defeating, hindering, delaying or defrauding any creditors of the Company or others; and

(7)the Company must deliver to the Trustee an officers’ certificate and an opinion of counsel, each stating that all conditions precedent relating to the Legal Defeasance or the Covenant Defeasance have been complied with.

Satisfaction and Discharge

The Indenture will be satisfied and discharged and will cease to be of further effect as to all Notes issued thereunder (except as to surviving rights of registration of transfer or exchange of the Notes and as otherwise specified in the Indenture), when:

(1)either:

(a)all Notes that have been authenticated, except lost, stolen or destroyed Notes that have been replaced or paid and Notes for whose payment money has been deposited in trust and thereafter repaid to the Company, have been delivered to the Trustee for cancellation; or

(b)

all Notes that have not been delivered to the Trustee for cancellation have become due and payable or will become due and payable within one year by reason of the giving of a notice of

redemption or otherwise and either the Company or any Subsidiary Guarantor has irrevocably deposited or caused to be deposited with the Trustee as trust funds in trust solely for the benefit of the Holders, cash in U.S. dollars, Government Securities, or a combination thereof, in such amounts as will be sufficient, without consideration of any reinvestment of interest, to pay and discharge the entire Indebtedness on the Notes not delivered to the Trustee for cancellation for principal of, or interest on, the Notes to the date of Stated Maturity or redemption (providedthat if such redemption is made as provided in the third paragraph under “—Optional Redemption,” (i) the amount of cash in U.S. dollars, Government Securities, or a combination thereof, that must be irrevocably deposited will be determined using an assumed Applicable Premium calculated as of the date of such deposit and (ii) the depositor must irrevocably deposit or cause to be deposited additional money in trust on the redemption date as necessary to pay the Applicable Premium as determined by such date);

(2)in respect of clause (1)(b), no Event of Default has occurred and is continuing on the date of the deposit (other than an Event of Default resulting from the borrowing of funds to be applied to such deposit and any similar deposit relating to other Indebtedness and, in each case, the granting of Liens to secure such borrowings) and the deposit will not result in a breach or violation of, or constitute a default under, any other instrument to which the Company or any Subsidiary Guarantor is a party or by which the Company or any Subsidiary Guarantor is bound (other than with respect to the borrowing of funds to be applied concurrently to make the deposit required to effect such satisfaction and discharge and any similar concurrent deposit relating to other Indebtedness, and in each case the granting of Liens to secure such borrowings);

(3)the Company has paid or caused to be paid all other sums payable by the Company under the Indenture; and

(4)the Company has delivered irrevocable instructions to the Trustee to apply the deposited money toward the payment of the Notes at Stated Maturity or on the redemption date, as the case may be.

In addition, the Company must irrevocably deposit in trust (the “defeasance trust”) with the Trustee money or U. S. Government Obligations for the payment of principaldeliver an officers’ certificate and interest on the Notes to redemption or maturity, as the case may be, and must comply with certain other conditions, including delivery to the Trustee of an opinion of counsel to the effectTrustee stating that Holders of the Notes will not recognize income, gain or loss for Federal income tax purposes as a result of such depositall conditions precedent to satisfaction and defeasance and will be subject to Federal income tax on the same amounts and in the same manner and at the same times as woulddischarge have been the case if such deposit and defeasance had not occurred (and, in the case of legal defeasance only, such opinion of counsel must be based on a ruling of the Internal Revenue Service or other change in applicable Federal income tax law).satisfied.

Concerning the Trustee

TheWells Fargo Bank, of Nova Scotia Trust Company of New York isNational Association will be the Trustee under the Indenture and has been appointed by the Company as Registrarregistrar and Paying Agentpaying agent with regard to the Notes.

If the Trustee becomes a creditor of the Company or any Subsidiary Guarantor, the Indenture will limit the right of the Trustee to obtain payment of claims in certain cases, or to realize on certain property received in respect of any such claim as security or otherwise. The Trustee will be permitted to engage in other transactions; however, if it acquires any conflicting interest (as defined in the Trust Indenture Act) after a Default has occurred and is continuing it must eliminate such conflict within 90 days, apply to the SEC for permission to continue as Trustee (if the Indenture has been qualified under the Trust Indenture Act) or resign.

The Holders of a majority in principal amount of the outstanding Notes will have the right to direct the time, method and place of conducting any proceeding for exercising any remedy available to the Trustee, subject to certain exceptions. The Indenture provides that ifIf an Event of Default occurs (and is not cured), the Trustee will be required, in the exercise of its power, to use the degree of care of a prudent manperson in the conduct of hissuch person’s own affairs. Subject to such provisions, the Trustee will be under no obligation to exercise any of its rights or powers under the Indenture at the request of any Holder of Notes, unless such Holder shall have furnished to the Trustee security andor indemnity satisfactory to it against any loss, liability or expense and then only to the extent required by the terms of the Indenture.

Governing lawLaw

The Indenture will provide that it, the Notes and the NotesSubsidiary Guarantees will be governed by, and construed in accordance with, the laws of the State of New York.

Certain definitionsWhere You Can Find More Information

“2012Any prospective investor in this offering who receives this prospectus may obtain a copy of the Indenture without charge by writing to CONSOL Energy Inc., 1000 CONSOL Energy Drive, Canonsburg, PA 15317-6506; Attention: Stephen W. Johnson.

Book-Entry, Delivery and Form

The new notes will be issued initially only in the form of one or more global notes (collectively, the “Global Notes” means). The Global Notes will be deposited upon issuance with the $250.0 millionTrustee as custodian for DTC, and registered in the name of DTC’s nominee, Cede & Co., in each case for credit to an account of a direct or indirect participant in DTC that has exchanged old notes for new notes in the exchange offer, as described below. Beneficial interests in the Global Notes may be held through the Euroclear System (“Euroclear”) and Clearstream Banking, S.A. (“Clearstream”) (as indirect participants in DTC).

The Global Notes may be transferred, in whole but not in part, only to another nominee of DTC or to a successor of DTC or its nominee. Beneficial interests in the Global Notes may not be exchanged for notes in registered, certificated form (“Certificated Notes”) except in the limited circumstances described below. See “—Exchange of Global Notes for Certificated Notes.”

Depository Procedures

The following description of the operations and procedures of DTC, Euroclear and Clearstream are provided solely as a matter of convenience. These operations and procedures are solely within the control of the respective settlement systems and are subject to changes by them. The Company takes no responsibility for these operations and procedures and urges investors to contact the system or their participants directly to discuss these matters.

DTC has advised the Company that DTC is a limited-purpose trust company created to hold securities for its participating organizations (collectively, the “Participants”) and to facilitate the clearance and settlement of transactions in those securities between Participants through electronic book-entry changes in accounts of its Participants. The Participants include securities brokers and dealers, banks, trust companies, clearing corporations and certain other organizations. Access to DTC’s system is also available to other entities such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a Participant, either directly or indirectly (collectively, the “Indirect Participants”). Persons who are not Participants may beneficially own securities held by or on behalf of DTC only through the Participants or the Indirect Participants. The ownership interests in, and transfers of ownership interests in, each security held by or on behalf of DTC are recorded on the records of the Participants and Indirect Participants.

DTC has also advised the Company that, pursuant to procedures established by it:

(1)upon deposit of the Global Notes, DTC will credit the accounts of Participants designated by the exchange agent with portions of the principal amount of the Global Notes; and

(2)ownership of these interests in the Global Notes will be shown on, and the transfer of ownership of these interests will be effected only through, records maintained by DTC (with respect to the Participants) or by the Participants and the Indirect Participants (with respect to other owners of beneficial interests in the Global Notes).

Investors in the Global Notes who are Participants in DTC’s system may hold their interests therein directly through DTC. Investors in the Global Notes who are not Participants may hold their interests therein indirectly through organizations (including Euroclear and Clearstream) which are Participants in such system. Euroclear and Clearstream may hold interests in the Global Notes on behalf of their participants through customers’ securities accounts in their respective names on the books of their depositories, which are Euroclear Bank S.A./N.V., as operator of Euroclear, and Citibank, N.A., as operator of Clearstream. All interests in a Global Note, including those held through Euroclear or Clearstream, may be subject to the procedures and requirements of DTC. Those interests held through Euroclear or Clearstream may also be subject to the procedures and requirements of such systems.

The laws of some states require that certain Persons take physical delivery in definitive form of securities that they own. Consequently, the ability to transfer beneficial interests in a Global Note to such Persons will be limited to that extent. Because DTC can act only on behalf of Participants, which in turn act on behalf of Indirect Participants, the ability of a Person having beneficial interests in a Global Note to pledge such interests to Persons that do not participate in the DTC system, or otherwise take actions in respect of such interests, may be affected by the lack of a physical certificate evidencing such interests.

Except as described below, owners of beneficial interests in the Global Notes will not have notes registered in their names, will not receive physical delivery of Certificated Notes and will not be considered the registered owners or “Holders” thereof under the Indenture for any purpose.

Payments in respect of the principal of, and interest and premium, if any, on, a Global Note registered in the name of DTC or its nominee will be payable to DTC in its capacity as the registered Holder under the Indenture. Under the terms of the Indenture, the Company, the Guarantors and the Trustee will treat the Persons in whose names the notes, including the Global Notes, are registered as the owners of the notes for the purpose of receiving payments and for all other purposes. Consequently, none of the Company, the Guarantors, the Trustee or any agent of the Company or the Trustee has or will have any responsibility or liability for:

(1)any aspect of DTC’s records or any Participant’s or Indirect Participant’s records relating to or payments made on account of beneficial ownership interests in the Global Notes or for maintaining, supervising or reviewing any of DTC’s records or any Participant’s or Indirect Participant’s records relating to the beneficial ownership interests in the Global Notes; or

(2)any other matter relating to the actions and practices of DTC or any of its Participants or Indirect Participants.

DTC has advised the Company that its current practice, at the due date of any payment in respect of securities such as the notes, is to credit the accounts of the relevant Participants with the payment on the payment date unless DTC has reason to believe it will not receive payment on such payment date. Each relevant Participant is credited with an amount proportionate to its beneficial ownership of an interest in the principal amount of the notes as shown on the records of DTC. Payments by the Participants and the Indirect Participants to the beneficial owners of notes will be governed by standing instructions and customary practices and will be the responsibility of the Participants or the Indirect Participants and will not be the responsibility of DTC, the Trustee or the Company. Neither the Company nor the Trustee will be liable for any delay by DTC or any of its Participants in identifying the beneficial owners of the notes, and the Company and the Trustee may conclusively rely on and will be protected in relying on instructions from DTC or its nominee for all purposes.

Transfers between Participants in DTC will be effected in accordance with DTC’s procedures, and will be settled in same-day funds, and transfers between participants in Euroclear and Clearstream will be effected in accordance with their respective rules and operating procedures.

Cross-market transfers between the Participants in DTC, on the one hand, and Euroclear or Clearstream participants, on the other hand, will be effected through DTC in accordance with DTC’s rules on behalf of

Euroclear or Clearstream, as the case may be, by its depository; however, such cross-market transactions will require delivery of instructions to Euroclear or Clearstream, as the case may be, by the counterparty in such system in accordance with the rules and procedures and within the established deadlines (Brussels time) of such system. Euroclear or Clearstream, as the case may be, will, if the transaction meets its settlement requirements, deliver instructions to its respective depository to take action to effect final settlement on its behalf by delivering or receiving interests in the relevant Global Note in DTC, and making or receiving payment in accordance with normal procedures for same-day funds settlement applicable to DTC. Euroclear participants and Clearstream participants may not deliver instructions directly to the depositories for Euroclear or Clearstream.

DTC has advised the Company that it will take any action permitted to be taken by a Holder of notes only at the direction of one or more Participants to whose account DTC has credited the interests in the Global Notes and only in respect of such portion of the aggregate principal amount of the Company’s 7.875%notes as to which such Participant or Participants has or have given such direction. However, if there is an Event of Default under the notes, DTC reserves the right to exchange the Global Notes due 2012 outstandingfor Certificated Notes, and to distribute such notes to its Participants.

Although DTC, Euroclear and Clearstream have agreed to the foregoing procedures to facilitate transfers of interests in the Global Notes among participants in DTC, Euroclear and Clearstream, they are under no obligation to perform or to continue to perform such procedures, and may discontinue such procedures at any time. None of the Company, the Trustee or any of their respective agents will have any responsibility for the performance by DTC, Euroclear or Clearstream or their respective participants or indirect participants of their respective obligations under the rules and procedures governing their operations.

Exchange of Global Notes for Certificated Notes

A Global Note is exchangeable for Certificated Notes in minimum denominations of $2,000 and in integral multiples of $1,000 in excess of $2,000, if:

(1)DTC (a) notifies the Company that it is unwilling or unable to continue as depositary for the Global Note or (b) has ceased to be a clearing agency registered under the Exchange Act and in either event the Company fails to appoint a successor depositary within 90 days; or

(2)there has occurred and is continuing an Event of Default and DTC notifies the Trustee of its decision to exchange the Global Note for Certificated Notes.

Beneficial interests in a Global Note may also be exchanged for Certificated Notes in the other limited circumstances permitted by the Indenture, including if an affiliate of ours acquires such interests. In all cases, Certificated Notes delivered in exchange for any Global Note or beneficial interests in Global Notes will be registered in the names, and issued in any approved denominations, requested by or on behalf of the depositary (in accordance with its customary procedures).

Exchange of Certificated Notes for Global Notes

Certificated Notes may not be exchanged for beneficial interests in any Global Note, except in the limited circumstances provided in the Indenture.

Same-Day Settlement and Payment

The Company will make payments in respect of the Notes represented by the Global Notes (including principal, premium, if any, and interest) by wire transfer of immediately available funds to the accounts specified by the Global Note Holder. The Company will make all payments of principal, interest and premium, if any, with respect to Certificated Notes by wire transfer of immediately available funds to the accounts specified by the Holders of the Certificated Notes or, if no such account is specified, by mailing a check to each such Holder’s

registered address. The Notes represented by the Global Notes are eligible to trade in DTC’s Same-Day Funds Settlement System, and any permitted secondary market trading activity in such Notes will, therefore, be required by DTC to be settled in immediately available funds. The Issuers expect that secondary trading in any Certificated Notes will also be settled in immediately available funds.

Because of time zone differences, the securities account of a Euroclear or Clearstream participant purchasing an interest in a Global Note from a Participant in DTC will be credited, and any such crediting will be reported to the relevant Euroclear or Clearstream participant, during the securities settlement processing day (which must be a business day for Euroclear and Clearstream) immediately following the settlement date of DTC. DTC has advised the Company at cash received in Euroclear or Clearstream as a result of sales of interests in a Global Note by or through a Euroclear or Clearstream participant to a Participant in DTC will be received with value on the Issue Date.settlement date of DTC but will be available in the relevant Euroclear or Clearstream cash account only as of the business day for Euroclear or Clearstream following DTC’s settlement date.

Certain Definitions

“Additional Assets” means:

 

 (1)any property or assets (other than Indebtedness and Capital Stock) used or useful in a Permitted Business;

 

 (2)the Capital Stock of a Person that becomes a Restricted Subsidiary as a result of the acquisition of such Capital Stock by the Company or another Restricted Subsidiary; or

 

 (3)Capital Stock constituting a non-controlling interest in any Person that at such time is a Restricted Subsidiary;

provided however,that any such Restricted Subsidiary described in clauses (2) or (3) above is primarily engaged in a Permitted Business.

“Adjusted Consolidated Net Tangible Assets” or “ACNTA” means (without duplication), as of the date of determination:

(a) the sum of:

 

 (1)the sum of:

(a)the discounted future net revenuerevenues from proved crude oil and natural gas reserves of the Companya Person and the Subsidiary Guarantorsits Restricted Subsidiaries calculated in accordance with SEC guidelines before any state or federal income taxes, as estimated in a reserve report prepared as of the end of the Company’ssuch Person’s most recently completed fiscal year, which reserve report is prepared, audited or reviewed by independent petroleum engineers as to proved reserves accounting for at least 80% of all such discounted future net revenues and by them Company’s petroleum engineers with respect to any other proved reserves covered by such report, asincreased by, as of the date of determination, the estimated discounted future net revenue of (A) revenues from:

(i)estimated proved crude oil and natural gas reserves of the Companysuch Person and the Subsidiary Guarantors attributable to acquisitions consummatedits Restricted Subsidiaries acquired since the date of such year-end reserve report, and (B) 

(ii)estimated crudeproved oil and natural gas reserves of the Companysuch Person and the Subsidiary Guarantorsits Restricted Subsidiaries attributable to extensions, discoveries and other additions and upward determinationsrevisions of estimates of proved crude oil and natural gas reserves (including previously estimated development costs incurred during the period and the accretion of discount since the prior yearperiod end) since the date of such year-end reserve report due to exploration, development or exploitation, production or other activities which reserves were not reflected in such year-end reserve report which would, in the case of determinations made pursuant to clauses (A) and (B), in accordance with standard industry practice, result incause such determinations, in each case calculated in accordance with SEC guidelines (utilizing the prices utilized in such year-end reserve report), and decreased by, as of the date of determination, the discounted future net revenue attributable to (C) revisions,

anddecreased by, as of the date of determination, the discounted future net revenue attributable to:

(iii)estimated proved crude oil and natural gas reserves of the Companysuch Person and the Subsidiary

Guarantorsits Restricted Subsidiaries reflected in such year-end reserve report produced or disposed of since the date of such year-end reserve report, and (D) 

(iv)reductions in the estimated crudeproved oil and natural gas reserves of the Companysuch Person and the Subsidiary Guarantorsits Restricted Subsidiaries reflected in such year-end reserve report since the date of such year-end reserve report attributable to downward determinationsrevisions of estimates of proved crude oil and natural gas reserves since such year-end due to exploration, development or exploitation, productionchanges in geological conditions or other activities conducted or otherwise occurring since the date of such year-end reserve reportfactors which would, in the case of determinations made pursuant to clauses (C) and (D), in accordance with standard industry practice, resultcause such revisions;

in the case of the preceding clauses (i) through (iv), calculated on a pre-tax basis in accordance with SEC guidelines (utilizing the prices utilized in such Person’s year-end reserve report) and estimated by such Person’s petroleum engineers or any independent petroleum engineers engaged by such Person for that purpose;

(b)the capitalized costs that are attributable to oil and gas properties of such Person and its Restricted Subsidiaries to which no proved oil and natural gas reserves are attributable, based on such Person’s books and records as of a date no earlier than the last day of such Person’s most recent quarterly or annual period for which internal financial statements are available;

(c)the Net Working Capital of such Person and its Restricted Subsidiaries as of a date no earlier than the last day of such Person’s most recent quarterly or annual period for which internal financial statements are available; and

(d)the greater of:

(i)the net book value, and

(ii)the appraised value, as estimated by independent appraisers, of other tangible assets (including Investments in such determinations, unconsolidated Subsidiaries),

in each case, of such Person and its Restricted Subsidiaries as of a date no earlier than the last day of the date of such Person’s most recent quarterly or annual period for which internal financial statements are available;providedthat if no such appraisal has been performed, such Person shall not be required to obtain such an appraisal and only clause (1)(d)(i) of this definition shall apply,

minus,to the extent not otherwise taken into account in this clause (1),

(2)the sum of:

(a)minority interests;

(b)any net gas balancing liabilities of such Person and its Restricted Subsidiaries as of the last day of such Person’s most recent annual or quarterly period for which internal financial statements are available;

(c)the discounted future net revenues, calculated in accordance with SEC guidelines (utilizing the prices utilized in such Person’s year-end reserve report);provided, however,, attributable to reserves that inare required to be delivered to third parties to fully satisfy the case of each of the determinations made pursuant to clauses (A) through (D), such increases and decreases shall be as estimated by the Company’s engineers, except that if as a resultobligations of such acquisitions, dispositions, discoveries, extensions or revisions, there is a Material Change which is an increase, then such increasesPerson and decreases inits Restricted Subsidiaries with respect to Volumetric Production Payments on the discounted future net revenue shall be confirmed in writing by an independent petroleum engineer;

(2)the Net Working Capital on a date no earlier than the date of the Company’s latest annual or quarterly financial statements;schedules specified with respect thereto; and

 

 (3)the net book value on a date no earlier than the date of the Company’s latest annual or quarterly financial statements of other tangible assets of the Company and the Subsidiary Guarantors (including coal assets but excluding crude oil and natural gas properties) as of a date no earlier than the date of the Company’s latest audited financial statements; minus

(b) to the extent not otherwise taken into account in the immediately preceding clause (a), the sum of:

(1)non-controlling interests;

(2)any coal or natural gas balancing liabilities of the Company and the Subsidiary Guarantors reflected in the Company’s latest audited financial statements; and

(3)(d)the discounted future net revenue,revenues, calculated in accordance with SEC guidelines, (utilizing the same prices utilized in the Company’s year-end reserve report), attributable to reserves subject to participation interests, overriding royalty interests or other interestsDollar-Denominated Production Payments that, based on the estimates of third parties, pursuantproduction and price assumptions included in determining the discounted future net revenues specified in (1)(a) above, would be necessary to participation, partnership, vendor financing or other agreements then in effect, or which otherwise are requiredfully satisfy the payment obligations of such Person and its Restricted Subsidiaries with respect to be delivered to third parties.Dollar-Denominated Production Payments on the schedules specified with respect thereto.

If such Person changes its method of accounting from the successful efforts method to the full costs method or a similar method of accounting, “Adjusted Consolidated Net Tangible Assets” will continue to be calculated as if such Person were still using the successful efforts method of accounting. For the avoidance of doubt, “oil and gas reserves” shall include any reserves attributable to natural gas liquids.

“Affiliate” of any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when“control,” as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management andor policies of such Person, directly or indirectly, whether through the ownership of voting securities,Voting Stock, by contractagreement or otherwise; and the terms “controlling” and “controlled” have meanings correlative to the foregoing.otherwise. For purposes of this definition, the provisions described under “—Certain covenants—Limitation on restricted payments,terms “controlling,“—Limitation on affiliate transactions”“controlled by” and “—Limitation on sales of assets and subsidiary stock” only, “Affiliate” shall also mean any beneficial owner of Capital Stock representing 10% or more of the total voting power of the Voting Stock (on a fully diluted basis) of the Company or of rights or warrants to purchase such Capital Stock (whether or not currently exercisable) and any Person who would be an Affiliate of any such beneficial owner pursuant to the first sentence hereof.“under common control with” have correlative meanings.

“Applicable Premium” means, with respect to a Note onat any date of redemption,time, as determined by the greaterCompany, the excess of:

 

 (1)1.0% of the principal amount of such Note and

(2)

the excess, if any, of (a) the present value as ofat such date of redemptiontime of (i) the redemption price of suchthe Note on Marchat April 1, 2016201 (such redemption price being describedset forth in the table appearing above under the caption “—Optional redemption”Redemption”),

plus (ii) all required interest payments due on suchthe Note through MarchApril 1, 20162018 (excluding accrued but unpaid interest to the date of redemption)redemption date), computed using a discount rate equal to the Treasury Rate as of such date of redemptiontime plus 50 basis points discounted to the redemption date on a semi-annual basis (assuming a 360 day year consisting of twelve 30 day months), over (b) 

(2)the then outstanding principal of such Note.

“As determined in good faith by the Company” means a determination made in good faith by the Board of Directors of the Company or any officer of the Company involved in or otherwise familiar with the transaction for which such determination is being made, any such determination being conclusive for all purposes under the Indenture.

“Asset Disposition” means any sale, lease (other than an operating lease), transfer or other disposition (or series of related sales, leases, transfers or dispositions) by the Company or any Restricted Subsidiary of the Company, including any disposition by means of a merger, consolidation or similar transaction (each referred to for the purposes of this definition as a “disposition”), of:

 

 (1)any shares of Capital Stock of a Restricted Subsidiary of the Company (other than directors’ qualifying shares or shares required by applicable law to be held by a Person other than the Company or a Restricted Subsidiary);

 

 (2)all or substantially all the assets of any division or line of business of the Company or any Restricted Subsidiary;Subsidiary of the Company; or

 

 (3)any other assets of the Company or any Restricted Subsidiary of the Company outside of the ordinary course of business of the Company or such Restricted Subsidiary.Subsidiary, which “ordinary course of business” includes, for the avoidance of doubt, transfers or dispositions of assets to facilitate the Permitted Business through operating agreements, working interests, royalty interests, mineral interests, processing agreements, farm-in agreements, farm-out agreements, developments agreements, area of mutual interest agreements, unitization agreements, pooling agreements, joint bidding agreements, service contracts, joint venture agreements, limited liability company agreements, partnership agreements (whether general or limited), subscription agreements, stock purchase agreements and other similar agreements with third parties;

providedthat the sale, lease, conveyance or other disposition of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole will be governed by the provisions of the Indenture described above under the caption “—Change of Control” and/or the provisions described above under the caption “—Certain Covenants—Merger and Consolidation” and not by the provisions of the covenant described under the caption “—Certain Covenants—Limitation of Sales of Assets and Subsidiary Stock.”

Notwithstanding the foregoing, none of the following shall be deemed to be an Asset Disposition:

 

 (1)a disposition by a Restricted Subsidiary toof assets between or among the Company or by the Company or aand its Restricted Subsidiary to a Wholly Owned Subsidiary;Subsidiaries;

 

 (2)for purposesa disposition of the covenant described under “—Certain covenants—Limitation on sales of assets and subsidiary stock” only, a disposition that constitutes a Restricted Payment permitted by the covenant described above under the caption “—Limitation on restricted payments,Restricted Payments, a disposition of all or substantially all the assets of the Company in compliance with “—Merger and consolidation” or a disposition that constitutes a Change of Control pursuant to clause (4) of the definition thereof;Permitted Investment;

 

 (3)an issuance or sale of Equity Interests by a Restricted Subsidiary of the abandonment, farm-out, leaseCompany to the Company or subleaseto a Restricted Subsidiary of developed or undeveloped crude oil and natural gas properties in the ordinary course of business;Company;

 

 (4)the trade or exchange by the Company or any Restricted Subsidiary of any crude oil and natural gas property owned or held by the Company or such Restricted Subsidiary for any crude oil and natural gas property owned or held by another Person;an Asset Swap;

 

 (5)the sale or transferother disposition of hydrocarbonsHydrocarbons or other mineral products or surplus or obsolete equipment;in the ordinary course of business;

 

 (6)a sale, contribution, conveyance or other transferdisposition of Receivables and related assets of the type specified in the definition of Qualified Receivables Transaction by or to a Receivables Subsidiary in a Qualified Receivables Transaction;

(7)any Production Payments and Reserve Sales;provided that any such Production Payments and Reserve Sales, other than incentive compensation programs on terms that are reasonably customary in the Permitted Business for geologists, geophysicists and other providers of technical services to the Company or a Restricted Subsidiary of the Company, shall have been created, incurred, issued, assumed or Guaranteed in connection with the financing of, and within 60 days after the acquisition of, the property that is subject thereto;

(8)the sale, lease or other disposition of products, services or accounts receivable in the ordinary course of business and any sale or other disposition of surplus, damaged, worn-out or obsolete assets in the ordinary course of business (including the abandonment or other disposition of intellectual property, including seismic data and interpretations thereof, that is, in the reasonable judgment of the Company, no longer economically practicable to maintain or useful in the conduct of the business of the Company and its Restricted Subsidiaries taken as whole);

(9)licenses and sublicenses by the Company or any of its Restricted Subsidiaries of software or intellectual property, including seismic data and interpretations thereof, in the ordinary course of business;

(10)any surrender or waiver of contract rights or settlement, release, recovery on or surrender of contract, tort or other claims in the ordinary course of business;

(11)the granting of Liens not prohibited by the covenant described above under the caption “—Certain Covenants—Limitation on Liens” and dispositions in connection with Permitted Liens;

(12)the sale or other disposition of cash or Temporary Cash Investments or other financial instruments;

(13)any sale or other disposition of Equity Interests in an Unrestricted Subsidiary;

(14)the early termination or unwinding of any Hedging Obligations; and

 

 (7)(15)a single transaction or series of related transactions that involve the disposition of assets with a fair market valueFair Market Value of less than $10.0$20 million.

Attributable Debt”Asset Swap” means any substantially contemporaneous (and in respectany event occurring within 180 days of a Sale/Leaseback Transaction means, as at the timeeach other) purchase and sale or exchange of determination, the present value (discounted at the interest rate implicitany assets or properties used or useful in the Sale/Leaseback Transaction, compounded annually)Permitted Business between the Company or any of its Restricted Subsidiaries and another Person;provided that the Fair Market Value of the total obligationsproperties or assets traded or exchanged by the Company or such Restricted Subsidiary (together with any cash) is reasonably equivalent to the Fair Market Value of the lessee for rental payments duringproperties or assets (together with any cash) to be received by the remaining termCompany or such Restricted Subsidiary, andprovided further that any net cash received must be applied in accordance with the provisions described above under the caption “—Certain Covenants—Limitation on Sales of the lease includedAssets and Subsidiary Stock” if then in such Sale/Leaseback Transaction (including any period for which such lease has been extended).effect.

“Average Life” means, as of the date of determination, with respect to any Indebtedness or Preferred Stock, the quotient obtained by dividing

 

 (1)the sum of the products of the numbers of years from the date of determination to the dates of each successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such Preferred Stock multiplied by the amount of such payment by

 (2)the sum of all such payments.

Beneficial Owner” has the meaning assigned to such term in Rule 13d-3 and Rule 13d-5 under the Exchange Act, except that in calculating the beneficial ownership of any particular “person” (as that term is used in Section 13(d)(3) of the Exchange Act), such “person” will be deemed to have beneficial ownership of all securities that such “person” has the right to acquire by conversion or exercise of other securities, whether such right is currently exercisable or is exercisable only after the passage of time. The terms “Beneficially Owns” and “Beneficially Owned” have corresponding meanings. For purposes of this definition, a Person shall be deemed not to Beneficially Own securities that are the subject of a stock purchase agreement, merger agreement, amalgamation agreement, arrangement agreement or similar agreement until consummation of the transactions or, as applicable, series of related transactions contemplated thereby.

Board of Directors” means the Board of Directors of the Company or other than for purposes of the definition of “Change of Control,” any committee thereof duly authorized to act on behalf of such Board.

“Business Day” means each day which is not a Legal Holiday (as defined in the Indenture).

“Capital Lease Obligation” means an obligation that is required to be classified and accounted for as a capital lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with GAAP; and the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty. Notwithstanding the foregoing, any lease (whether entered into before or after the Issue Date) that would have been classified as an operating lease pursuant to GAAP as in effect on the Issue Date will be deemed not to represent a Capital Lease Obligation.

“Capital Stock” of any Person means (1) in the case of a corporation, corporate stock; (2) in the case of an association or business entity, any and all shares, interests, participations, rights to purchase, warrants, options, participations or other equivalents (however designated) of corporate stock; (3) in the case of a partnership or limited liability company, partnership interests (whether general or limited) or membership interests; and (4) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or interests in (however designated) equitydistributions of suchassets of, the issuing Person, including any Preferred Stock, but excluding from all of the foregoing any debt securities exercisable for, exchangeable for or convertible into Capital Stock, whether or not such equity.debt securities include any right of participation with Capital Stock.

“CNX Gas”Funding” means CNX GasFunding Corporation, a Delaware corporation.

CNX Gas Credit Agreement”Consolidated Cash Flow” for any period means, with respect to any specified Person for any period, the Credit Agreement among CNX Gas Corporation, as Borrower,sum of its Consolidated Net Income, plus, to the guarantors party thereto,extent deducted in calculating such Consolidated Net Income:

(1)Consolidated Interest Expense;

(2)provision for taxes based on income or profits (including state franchise taxes accounted for as income taxes in accordance with GAAP) of such Person and its Restricted Subsidiaries for such period;

(3)depletion, depreciation and impairment charges and expenses of such Person and its Restricted Subsidiaries for such period;

(4)amortization expense (including amortization of goodwill and other intangibles but excluding amortization of prepaid cash expenses that were paid in a prior period) of such Person and its Restricted Subsidiaries for such period;

(5)if such Person accounts for its oil and natural gas operations using successful efforts or a similar method of accounting, exploration and abandonment expense of such Person and its Restricted Subsidiaries for such period; and

(6)all other non-cash charges, including non-cash charges taken pursuant to FASB ASC 815 (excluding any such non-cash charge to the extent that it represents an accrual of or reserve for cash charges in any future period or amortization of a prepaid cash expense that was paid in a prior period except such amounts as the Company determines in good faith are nonrecurring or represent a write-off, write-down or reserve with respect to a current asset),

minus all non-cash items increasing Consolidated Net Income for such period (other than any such non-cash item to the lenders party thereto and PNC Bank, National Association, as Administrative Agent, and certain other financial institutions, dated May 7, 2010, as amended, includingextent that it (i) will result in the receipt of cash payments in any related notes, guarantees, instruments and agreements executedfuture period or (ii) represents the reversal of any accrual, or cash reserve for, anticipated cash expenditures in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced, refinancedany prior period where such accrual or increased in whole or in part from time to time.

“Code” means the Internal Revenue Code of 1986, as amended.reserve is no longer required).

“Consolidated Coverage Ratio” of any Person as of any date of determination means the ratio ofof:

(x) the aggregate amount of EBITDA

(1)the aggregate amount of Consolidated Cash Flow of such Person for the period of the most recent four consecutive fiscal quarters for which internal financial statements are available prior to the date of such determination to

(y) Consolidated Interest Expense for such four fiscal quarters;provided, however,that:

(1)if the Company or any Restricted Subsidiary has Incurred any Indebtedness since the beginning of such period that remains outstanding or if the transaction giving rise to the need to calculate the Consolidated Coverage Ratio is an Incurrence of Indebtedness, or both, EBITDA and Consolidated Interest Expense for such period shall be calculated after giving effect on a pro forma basis to such Indebtedness as if such Indebtedness had been Incurred on the first day of such period and the discharge of any other Indebtedness repaid, repurchased, defeased or otherwise discharged with the proceeds of such new Indebtedness as if such discharge had occurred on the first day of such period;

 

 (2)if the Company or any Restricted Subsidiary has repaid, repurchased, defeased or otherwise discharged any Indebtedness since the beginning of such period or if any Indebtedness is to be repaid, repurchased, defeased or otherwise discharged on the date of the transaction giving rise to the need to calculate the Consolidated Coverage Ratio, EBITDA and Consolidated Interest Expense of such Person for such period shall be calculated on a pro forma basis as if such discharge had occurred on the first day of such period and as if the Company or such Restricted Subsidiary had not earned the interest income actually earned during such period in respect of cash or Temporary Cash Investments used to repay, repurchase, defease or otherwise discharge such Indebtedness;

(3)if since the beginning of such period the Company or any Restricted Subsidiary shall have made any Asset Disposition, then EBITDA for such period shall be reduced by an amount equal to EBITDA (if positive) directly attributable to the assets which are the subject of such Asset Disposition for such period, or increased by an amount equal to EBITDA (if negative), directly attributable thereto for such period and Consolidated Interest Expense for such period shall be reduced by an amount equal to the Consolidated Interest Expense directly attributable to any Indebtedness of the Company or any Restricted Subsidiary repaid, repurchased, defeased or otherwise discharged with respect to the Company and its continuing Restricted Subsidiaries in connection with such Asset Disposition for such period (or, if the Capital Stock of any Restricted Subsidiary is sold, the Consolidated Interest Expense for such period directly attributable to the Indebtedness of such Restricted Subsidiary to the extent the Company and its continuing Restricted Subsidiaries are no longer liable for such Indebtedness after such sale);four fiscal quarters.

(4)if since the beginning of such period the Company or any Restricted Subsidiary (by merger or otherwise) shall have made an Investment in any Restricted Subsidiary (or any Person which becomes a Restricted Subsidiary) or an acquisition (including by way of lease) of assets, including any acquisition of assets occurring in connection with a transaction requiring a calculation to be made hereunder, EBITDA and Consolidated Interest Expense for such period shall be calculated after giving pro forma effect thereto (including the Incurrence of any Indebtedness) as if such Investment or acquisition occurred on the first day of such period; and

(5)if since the beginning of such period any Person (that subsequently became a Restricted Subsidiary or was merged with or into the Company or any Restricted Subsidiary since the beginning of such period) shall have made any Asset Disposition, any Investment or acquisition of assets that would have required an adjustment pursuant to clause (3) or (4) above if made by the Company or a Restricted Subsidiary during such period, EBITDA and Consolidated Interest Expense for such period shall be calculated after giving pro forma effect thereto as if such Asset Disposition, Investment or acquisition occurred on the first day of such period.

In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, Guarantees, repays, repurchases, redeems, defeases or otherwise discharges any Indebtedness or issues, repurchases or redeems Preferred Stock subsequent to the commencement of the period for which the Consolidated Coverage Ratio is being calculated and on or prior to the date on which the event for which the calculation of the Consolidated Coverage Ratio is made (the “Calculation Date”), then the Consolidated Coverage Ratio will be calculated giving pro forma effect to such incurrence, assumption, Guarantee, repayment, repurchase, redemption, defeasance or other discharge of Indebtedness, or such issuance, repurchase or redemption of Preferred Stock, and the use of the proceeds therefrom, as if the same had occurred at the beginning of the applicable four-quarter reference period (except that in making such calculation, the amount of Indebtedness under any revolving Credit Facility outstanding on the Calculation Date will be deemed to be (i) the average daily balance of such Indebtedness during such four-quarter period or such shorter period for which such facility was outstanding or (ii) if such revolving Credit Facility was created after the end of such four-quarter period, the average daily balance of such Indebtedness during the period from the date of creation of such revolving Credit Facility to the Calculation Date,provided that such average daily balance shall take into account any repayment of Indebtedness under such revolving Credit Facility to the extent of any related commitment termination). For purposes of this definition, whenever pro forma effect is to be given to an acquisition of assets, the amount of income or earnings relating thereto and the amount of Consolidated Interest Expense associated with any Indebtedness Incurred in connection therewith,calculation under this definition, the pro forma calculations shallwill be determined either (i) in accordance with Regulation S-X under the Securities Act or (ii) in good faith by a responsiblethe chief financial or accounting Officerofficer of the Company. Ifsuch Person;providedthat such officer may in his or her discretion include any Indebtedness bears a floating rate of interestreasonably identifiable and is being givenfactually supportable pro forma effect,changes to Consolidated Cash Flow, including any pro forma expenses and cost reductions, that have occurred or in the interest onjudgment of such Indebtedness shall be calculated as if the rate in effect on the date of determination had been the applicable rate for the entire period (taking into account any Interest Rate Agreement applicableofficer are reasonably expected to such Indebtedness if such Interest Rate Agreement has a remaining term in excess ofoccur within 12 months).

“Consolidated Current Liabilities” asmonths of the date of determination means the aggregateapplicable transaction (regardless of whether such expense or cost reduction or any other operating improvements could then be reflected properly in pro forma financial statements prepared in accordance with Regulation S-X under the Securities Act or any other regulation or policy of the SEC) and that are set forth in an officers’ certificate signed by the chief financial or accounting officer of such Person that states (a) the amount of liabilitieseach such adjustment, (b) that such adjustments are based on the reasonable good faith belief of the Companyofficers executing such officers’ certificate at the time of such execution and its consolidated Restricted Subsidiariesthe (c) factual basis on which would properly be classified as current liabilities (including taxes accrued as estimated), on a consolidated balance sheetsuch good faith belief is based.

In addition, for purposes of calculating the Company and its Restricted Subsidiaries at such date, after eliminating:Consolidated Coverage Ratio:

 

 (1)acquisitions that have been made by the specified Person or any of its Restricted Subsidiaries, including through mergers or consolidations, or any Person or any of its Restricted Subsidiaries acquired by the specified Person or any of its Restricted Subsidiaries, and including all intercompany items betweenrelated financing transactions and including increases in ownership of Restricted Subsidiaries, during the Companyfour-quarter reference period or subsequent to such reference period and any Restricted Subsidiary; andon or prior to the Calculation Date, or that are to be made on the Calculation Date, will be given pro forma effect as if they had occurred on the first day of the four-quarter reference period;

 

 (2)all current maturities of long-term Indebtedness, allthe Consolidated Cash Flow attributable to discontinued operations, as determined in accordance with GAAP, consistently applied.and operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded;

(3)the Consolidated Interest Expense attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses (and ownership interests therein) disposed of prior to the Calculation Date, will be excluded, but only to the extent that the obligations giving rise to such Consolidated Interest Expense will not be obligations of the specified Person or any of its Restricted Subsidiaries following the Calculation Date;

(4)any Person that is a Restricted Subsidiary on the Calculation Date will be deemed to have been a Restricted Subsidiary at all times during such four-quarter period;

(5)any Person that is not a Restricted Subsidiary on the Calculation Date will be deemed not to have been a Restricted Subsidiary at any time during such four-quarter period; and

(6)if any Indebtedness bears a floating rate of interest, the interest expense on such Indebtedness will be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligation applicable to such Indebtedness if such Hedging Obligation has a remaining term as at the Calculation Date in excess of 12 months).

“Consolidated Interest Expense” means, for any period, the total interest expense of the Companyspecified Person and its Restricted Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP (excluding (i) any interest attributable to Dollar-Denominated Production Payments, (ii) write-off of deferred financing costs and (iii) accretion of interest charges on future plugging and abandonment obligations, future retirement benefits and other obligations that do not constitute Indebtedness), plus, to the extent not included in such total interest expense, and to the extent incurred by the Companysuch Person or its Restricted Subsidiaries, without duplication:

 

 (1)interest expense attributable to Capital Lease Obligations and imputed interest with respect to Attributable Debt;Obligations;

 (2)capitalized interest;

 

 (3)non-cash interest expense;

 

 (4)commissions, discounts and other fees and charges owed with respect to letters of credit and bankers’ acceptance financing;

 

 (5)net costs (including amortization of fees and up-front payments) associated with interest rate caps and other interest rate and currency options that, at the time entered into, resulted in the Companysuch Person and its Restricted Subsidiaries being net payees as to future payouts under such caps or options, and interest rate and currency swaps and forwards for which the Companysuch Person or any of its Restricted Subsidiaries has paid a premium;

 

 (6)dividends (excluding dividends paid in shares of Capital StockEquity Interests which isare not Disqualified Stock) in respect of all Disqualified Stock held by Persons other than the Companysuch Person or a Wholly Owned Subsidiary;Restricted Subsidiary of such Person; and

 (7)interest accruing on any Indebtedness of any other Person to the extent such Indebtedness is Guaranteed by the Companysuch Person or any of its Restricted SubsidiarySubsidiaries or secured by a Lien on assets of the Companysuch Person or any of its Restricted SubsidiarySubsidiaries to the extent such Indebtedness constitutes Indebtedness of the Companysuch Person or anysuch Restricted Subsidiary (whether or not such Guarantee or Lien is called upon);

provided,however“Consolidated, that “Consolidated Interest Expense” shall not include any (x) amortization of costs relating to original debt issuances other than the amortization of debt discount related to the issuance of zero coupon securities or other securities with an original issue price of not more than 90% of the principal thereof and (y) Consolidated Interest Expense with respect to any Indebtedness Incurred pursuant to clause (b) (8) of the covenant described under “—Certain covenants—Limitation on indebtedness.”thereof.

“Consolidated Net Income” means, with respect to any specified Person for any period, the aggregate net income (loss) of the Companysuch Person and its Subsidiaries determined on a consolidated basis in accordance with GAAP; GAAP and without any reduction in respect of Preferred Stock dividends;provided, however, that there shall not be included in such Consolidated Net Income:

 

 (1)any net income of any other Person (other than the Company) if such other Person is not a Restricted Subsidiary, except that:

 

 (A)(a)subject to the exclusion contained in clause (4) below,of this definition, the Company’sspecified Person’s equity in the net income of any such other Person for such period shall be included in such Consolidated Net Income up to the aggregate amount of cash actually distributed by such other Person during such period to the Companyspecified Person or aany of its Restricted SubsidiarySubsidiaries as a dividend or other distribution (subject, in the case of a dividend or other distribution paid to a Restricted Subsidiary, to the limitations contained in clause (2) below)of this definition); and

 

 (B)(b)the Company’sspecified Person’s equity in a net loss of any such other Person for such period shall be included in determining such Consolidated Net Income;

 

 (2)any net income of any Restricted Subsidiary of such Person (other than a Subsidiary Guarantor) if such Restricted Subsidiary is subject to restrictions, directly or indirectly, on the payment of dividends or the making of distributions by such Restricted Subsidiary, directly or indirectly, to the Company, except that:

 

 (A)(a)subject to the exclusion contained in clause (3) below, the Company’s equity in the net income of any such Restricted Subsidiary for such period shall be included in such Consolidated Net Income up to the aggregate amount of cash actually distributed by such Restricted Subsidiary during such period to the Company or another Restricted Subsidiary of the Company as a dividend or other distribution (subject, in the case of a dividend or other distribution paid to another Restricted Subsidiary, to the limitation contained in this clause); and

 

 (B)(b)the Company’s equity in a net loss of any such Restricted Subsidiary for such period shall be included in determining such Consolidated Net Income;

 (3)any gainincome or loss realized upon the sale or other disposition of any assets of the Company or its Subsidiaries (including pursuantattributed to any sale-and-leaseback arrangement) which is not sold or otherwise disposed of in the ordinary course of business and any gain or loss realized upon the sale or other disposition of any Capital Stock of any Person;discontinued operations;

 

 (4)any extraordinary gains or losses, together with any related provision for taxes on such gains or losses;

 

 (5)any non-cash compensation expense realized for grants of performance shares, stock, stock options or stock awards to officers, directorsother equity-based awards;

(6)unrealized losses and employeesgains under derivative instruments included in the determination of Consolidated Net Income, including those resulting from the Companyapplication of FASB ASC 815;

(7)any asset impairment or any of its Restricted Subsidiaries;write-downs on Oil and Gas Properties or other assets under GAAP or SEC guidelines; and

 

 (6)(8)the cumulative effect of a change in accounting principles.

Notwithstanding the foregoing, for the purposes of the covenant described under the caption “—Certain covenants— Covenants—Limitation on restricted payments”Restricted Payments” only, there shall be excluded from Consolidated Net Income

any dividends, repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries to the Company or a Restricted Subsidiary of the Company to the extent such dividends, repayments or transfers increase the amount of Restricted Payments permitted under such covenant pursuant to clause (a)(3)(D) thereof.

“Consolidated Net Tangible Assets,” as of any date of determination, means the total amount of assets (less accumulated depreciation and amortization, allowances for doubtful receivables, other applicable reserves and other properly deductible items) which would appear on a balance sheet(f) of the Company and its Restricted Subsidiaries, determined on a consolidated basis in accordance with GAAP, and after giving effect to purchase accounting and after deducting there from Consolidated Current Liabilities and, to the extent otherwise included, the amounts of:first paragraph thereof.

(1)non-controlling interests in Restricted Subsidiaries held by Persons other than the Company or a Restricted Subsidiary;

(2)excess of cost over fair value of assets of businesses acquired, as determined in good faith by the Board of Directors;

(3)any revaluation or other write-up in book value of assets subsequent to the Issue Date as a result of a change in the method of valuation in accordance with GAAP consistently applied;

(4)unamortized debt discount and expenses and other unamortized deferred charges, goodwill, patents, trademarks, service marks, trade names, copyrights, licenses, organization or developmental expenses and other intangible items;

(5)treasury stock;

(6)cash set apart and held in a sinking or other analogous fund established for the purpose of redemption or other retirement of Capital Stock to the extent such obligation is not reflected in Consolidated Current Liabilities; and

(7)Investments in and assets of Unrestricted Subsidiaries.

“Credit Agreement” means the Amended and Restated Credit Agreement, dated as of June 18, 2014, by and among CONSOL Energy Inc., as Borrower, the guarantors party thereto, and the lenders and agents party thereto, and PNC Bank, National Association as Administrative Agent and certain other financial institutions, dated May 7, 2010, as amended, including any related notes, guarantees,Guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced, refinanced or increased in whole or in part from time to time.

“Credit Facilities” means with respect to the Company or any Restricted Subsidiary, one or more debt facilities (including the Credit Agreement and the CNX Gas Credit Agreement), indentures or commercial paper facilities, in each case, with banks or other institutional lenders or investors providing for revolving credit loans, term loans, production payments,

Production Payments, capital market financings, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables) or letters of credit, in each case, as amended, restated, modified, renewed, refunded, replaced in any manner (whether upon or refinancedafter termination or otherwise) or Refinanced (including by means of sales of debt securities to institutional investors) in whole or in part from time to time.

“Currency Agreement” means in respect of a Person any foreign exchange contract, currency swap agreement or other similar agreement to which such Person is a party or a beneficiary.

Customary Recourse Exceptions” means, with respect to any Non-Recourse Debt of an Unrestricted Subsidiary, exclusions from the exculpation provisions with respect to such Non-Recourse Debt for the voluntary bankruptcy of such Unrestricted Subsidiary, fraud, misapplication of cash, environmental claims, waste, willful destruction and other circumstances customarily excluded by lenders from exculpation provisions or included in separate indemnification agreements in non-recourse financings.

Default” means any event which is, or after notice or passage of time or both would be, an Event of Default.

“De Minimis Amount” means a principal amount of Indebtedness that does not exceed $10 million.

“Designated Non-Cash Consideration” means the Fair Market Value of non-Cash Consideration received by the Company or a Restricted Subsidiary of the Company in connection with an Asset Disposition that is so designated as Designated Non-Cash Consideration pursuant to an officers’ certificate, setting forth the basis of such valuation and executed by the chief financial officer and one other officer of the Company, less the amount of cash or Temporary Cash Investments received in connection with a subsequent sale of or collection on such Designated Non-Cash Consideration.

“Disqualified Stock” means any Capital Stock of a Person or any of its Restricted Subsidiaries that by its terms (or by the terms of any security into which it is convertible or for which it is exchangeable, in either case at the option of the holder thereof) or otherwise (a) matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise, (b) is or may become redeemable or repurchaseable at the option of the holder thereof, in whole or in part or (c) is convertible or exchangeable at the option of the holder thereof for Indebtedness or Disqualified Stock, on or prior to the earlier of, in the case of clause (a), (b) or (c), (i) 91 days after the Stated Maturity of the Notes.Notes and (ii) the date on which no Notes are outstanding (provided that only the portion of Capital Stock which is mandatorily redeemable or matures or is redeemable at the option of the holder thereof prior to such date will be deemed to be Disqualified Stock), in each case other than in exchange for Capital Stock of the Company (other than Disqualified Stock).

Notwithstanding the preceding sentence:

 

 (1)any Capital Stock that would constitute Disqualified Stock solely because the holders thereof have the right to require the Company to repurchase such Capital Stock upon the occurrence of a change of control or an asset saledisposition will not constitute Disqualified Stock so long as the right to have such Capital Stock repurchased upupon a change of control or asset sale aredisposition is no more favorable to the holders thereof than the requirements set forth herein under “—Change of Control” and “—Certain Covenants—Limitation on salesSales of assetsAssets and subsidiary stock;”Subsidiary Stock”;

 

 (2)any Capital Stock issued to any plan for the benefit of employees of the Company or its Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Company or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations; and

 

 (3)any Capital Stock held by any future, current or former employee, director, manager or consultant (or their respective trusts, estates, investment funds, investment vehicles or immediate family members) of the Company or any of its Subsidiaries, or any parent in each case upon the termination of employment or death of such person pursuant to any stock option plan or any other management or employee benefit plan or agreement shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Company or its Subsidiaries.

EBITDA”Dollar-Denominated Production Payments” means production payment obligations recorded as liabilities in accordance with GAAP, together with all undertakings and obligations in connection therewith.

“Domestic Subsidiary” means any Restricted Subsidiary of the referent Person that was formed under the laws of the United States or any state of the United States or the District of Columbia.

“Equity Interests” of any Person means (1) any and all Capital Stock of such Person and (2) all rights to purchase, warrants or options (whether or not currently exercisable), participations or other equivalents of or interests in (however designated) such Capital Stock of such Person, but excluding from all of the foregoing any debt securities exercisable for, exchangeable for or convertible into Equity Interests, regardless of whether such debt securities include any periodright of participation with Equity Interests.

“Equity Repurchase” means the sum of Consolidated Net Income, plus Consolidated Interest Expense plus, to the extent deducted in calculating such Consolidated Net Income:

(1)provision for taxes based on income or profits;

(2)depletion and depreciation expense;

(3)amortization expense;

(4)exploration expense (if applicable to the Company after April 1, 2010); and

(5)all other non-cash charges, including non-cash charges taken pursuant to the “Derivatives and Hedging” topic of the FASC (excluding any such non-cash charge to the extent that it represents an accrual of or reserve for cash charges in any future period or amortization of a prepaid cash expense that was paid in a prior period except such amounts as the Company determines in good faith are nonrecurring or represents a write-off, write-down or reserve with respect to a current asset),

minusall non-cash items increasing Consolidated Net Incomerepurchase or other acquisition or retirement for such period (other than any such non-cash item to the extent that it (x) will result in the receipt of cash payments in any future period or (y) represents the reversalvalue of any accrual, or cash reserve for, anticipated cash expenditures in any prior period where such accrual or reserve is no longer required).

Notwithstanding the foregoing, the provision for taxes based on the income or profitsEquity Interests of and the depletion, depreciation, amortization and exploration and other non-cash charges of, a Restricted Subsidiary shall be added to Consolidated Net Income to compute EBITDA only to the extent (and in the same proportion) that the net income of such Restricted Subsidiary was included in calculating Consolidated Net Income and only if a corresponding amount would be permitted at the date of determination to be dividended to the Company by such Restricted Subsidiary without prior approval (that has not been obtained), pursuant to any stock repurchase plan of the termsCompany approved by the Board of its charterDirectors of the Company and all agreements, instruments, judgments, decrees, orders, statutes, rules and governmental regulationseffected in accordance with Rule 10b-18 under the Exchange Act or otherwise in accordance with applicable to such Restricted Subsidiary or its stockholders.law.

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

Exchange Guarantee” means each Guarantee of the obligations with respect to the Exchange Notes issued by a Person.

“Exchange Note”Excluded Contributions” means the senior debt securities to be issuednet cash proceeds received by the Company after the Issue Date from contributions to its common equity capital or the sale (other than to a Subsidiary of the Company) of Equity Interests (other than Disqualified Stock) of the Company, in each case designated as “Excluded Contributions” pursuant to an officers’ certificate executed by an officer of the Registration Rights Agreement.Company.

“Existing Receivables Financing” means the receivables financing and related transactions in connection with (i) that certain Amended and Restated Receivables Purchase Agreement, dated as of April 30, 2007, by and among the Company, CNX Funding Corporation and the other parties from time to time party thereto, and (ii) that certain Purchase and Sale Agreement, dated as of April 30, 2003, by and among CNX Funding, Corporation, the Company and the other parties from time to time party thereto, in each case as amended, restated, renewed supplemented or otherwise modified from time to time.

“Fair Market Value” means the value that would be paid by a willing buyer to an unaffiliated willing seller in a transaction not involving distress or necessity of either party, determined in good faith by the Board of

Directors of the Company in the case of amounts of $50 million or more and otherwise by an officer of the Company (unless otherwise provided in the Indenture), any such determination being conclusive for all purposes under the Indenture.

“FASB ASC 815” means Financial Accounting Standards Board Accounting Standards Codification Topic No. 815, Derivatives and Hedging.

“GAAP” means generally accepted accounting principles in the United States of America as in effect from time to time.

“Government Securities” means securities that are:

 

 (1)direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged; or

 

 (2)obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America,

which, in either case, are not callable or redeemable at the option of the issuersIssuer thereof, and shall also include a depository receipt issued by a bank (as defined in Section 3(a)(2) of the Securities Act), as custodian with respect to any such Government Securities or a specific payment of principal of or interest on any such Government Securities held by such custodian for the account of the holder of such depository receipt;provided that(except (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of the Government Securities or the specific payment of principal of or interest on the Government Securities evidenced by such depository receipt.

“Guarantee” means, without duplication, any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness of any Person and any obligation, direct or indirect, contingent or otherwise, of such Person:

 

 (1)to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness of such Person (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services, to take-or-pay or to maintain financial statement conditions or otherwise); or

 

 (2)entered into for the purpose of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof (in whole or in part);

provided,however, that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of business. The term “Guarantee” used as a verb has a corresponding meaning. The term “Guarantor” shall mean any Person Guaranteeing any obligation.

“Guarantee Agreement” means a supplemental indenture pursuant to which a Subsidiary Guarantor or any other Person becomes subject to the applicable terms and conditions of the Indenture.

“Hedging Contract” means any purchaseputs, cap transactions, floor transactions, collar transactions, forward contract, commodity swap agreement, commodity option agreement or hedgingother similar agreement or arrangement relatedin respect of Hydrocarbons to be used, produced, processed or sold by the purchaseCompany or any of coal, oil and gas or other commodity usedits Restricted Subsidiaries that are customary in the ordinary course of business, in each case, that isPermitted Business and designed to provide protectionprotect such Person against coal, oilfluctuations in or manage exposure to Hydrocarbon prices and gas or other commodity price fluctuations.not for speculative purposes.

“Hedging Obligations” of any Person means the obligations of such Person pursuant to any Hedging Contract, Interest Rate Agreement or Currency Agreement.

“Holder” or “Noteholder” means the Person in whose name a Note is registered on the Registrar’sregistrar’s books.

Incur”Hydrocarbons” means issue, assume, Guarantee, incurcoal, oil, natural gas, casing head gas, drip gasoline, natural gasoline, condensate, distillate, liquid hydrocarbons, gaseous hydrocarbons and all constituents, elements or compounds thereof and products refined or processed therefrom.

“Immaterial Subsidiary” means any Restricted Subsidiary that had:

(1)assets having an aggregate book value, as of the end of the fiscal year most recently ended, not exceeding $1 million; and

(2)Consolidated Net Income not exceeding $1 million for such fiscal year,

provided that a Restricted Subsidiary will not be considered to be an Immaterial Subsidiary if it, directly or indirectly, Guarantees or otherwise become liable for;provided, however,thatprovides direct credit support for any Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Subsidiary at the time it becomes a Subsidiary. The term “Incurrence” when used as a noun shall have a correlative meaning. The accretion of principal of a non-interest bearing or other discount security shall not be deemed the Incurrence of Indebtedness.Company.

“Indebtedness” means, with respect to any Person on any date of determination (without duplication):

 

 (1)the principal of and premium (if any) in respect of (A)(a) indebtedness of such Person for money borrowed and (B)(b) indebtedness evidenced by notes, debentures, bonds or other similar instruments for the payment of which such Person is responsible or liable;

 

 (2)all Capital Lease Obligations of such Person and all Attributable Debt in respect of Sale/ Leaseback Transactions entered into by such Person;

 

 (3)all obligations of such Person issued or assumed as the deferred purchase price of property (which purchase price is due more than six months after the date of taking delivery of title to such property), including all obligations of such Person for the deferred purchase price of property under any title retention agreement (but excluding trade accounts payable arising in the ordinary course of business);

 

 (4)all obligations of such Person for the reimbursement of any obligor on any letter of credit, banker’sbankers’ acceptance or similar credit transaction (other than obligations with respect to letters of credit securing obligations (other than obligations described in clauses (1) through (3) above)of this paragraph) entered into in the ordinary course of business of such Person to the extent such letters of credit are not drawn upon or, if and to the extent drawn upon, such drawing is reimbursed no later than the tenth Business Day following receipt by such Person of a demand for reimbursement following payment on the letter of credit);

 (5)the amount of all obligations of such Person with respect to the redemption, repayment or other repurchase of any Disqualified Stock (but excluding any accrued dividends);Hedging Obligations;

 

 (6)all obligations of the type referred to in clauses (1) through (5) of this paragraph of other Persons and all dividends of other Persons for the payment of which, in either case, such Person is responsible or liable, directly or indirectly, as obligor, guarantor or otherwise, including by means of any Guarantee; and

 

 (7)all obligations of the type referred to in clauses (1) through (6) of this paragraph of other Persons secured by any Lien on any property or asset of such first-mentioned Person (whether or not such obligation is assumed by such first-mentioned Person), the amount of such obligation being deemed to be the lesser of the value of such property or assets or the amount of the obligation so secured.

The “amount” or “principal amount” of any Indebtedness or Disqualified Stock or other Preferred Stock outstanding at any time of determination as used herein shall be as set forth below or, if not set forth below, determined in accordance with GAAP:

(1)the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount;

(2)the principal amount of the Indebtedness, in the case of any other Indebtedness;

(3)in respect of Indebtedness of another Person secured by a Lien on the assets of the specified Person, the lesser of:

(a)the Fair Market Value of such assets at the date of determination; and

(b)the amount of the Indebtedness of the other Person;

(4)in the case of any Capital Lease Obligation, the amount determined in accordance with the definition thereof;

(5)in the case of any Preferred Stock, (a) if other than Disqualified Stock, the greater of its voluntary or involuntary liquidation preference and its maximum fixed redemption price or repurchase price or (b) if Disqualified Stock, as specified in the definition thereof;

(6)in the case of any Interest Rate Agreements included in the definition of “Permitted Debt,” zero;

(7)in the case of all other unconditional obligations, the amount of the liability thereof determined in accordance with GAAP; and

(8)in the case of all other contingent obligations, the maximum liability at such date of such Person.

For purposes of determining any particular amount of Indebtedness, (i) Guarantees of, any Person at any dateor obligations in respect of letters of credit relating to, Indebtedness otherwise included in the determination of such amount shall not also be included and (ii) if obligations in respect of letters of credit are incurred pursuant to a Credit Facility and are being treated as incurred pursuant to clause (1) of the definition of “Permitted Debt” and the letters of credit relate to other Indebtedness, then the amount of such other Indebtedness equal to the face amount of such letters of credit shall not be included. If Indebtedness is secured by a letter of credit that serves only to secure such Indebtedness, then the total amount deemed incurred shall be the outstanding balance at such date of all unconditional obligations as described above and the maximum liability, assuming the contingency giving riseequal to the obligation were to have occurred ongreater of (a) the principal of such date,Indebtedness and (b) the amount that may be drawn under such letter of any Guarantees outstanding at such date.credit.

None of the following shall constitute Indebtedness:

 

 (1)indebtednessIndebtedness arising from agreements providing for indemnification or adjustment of purchase price or from guaranteesGuarantees securing any obligations of the Company or any of its Subsidiaries pursuant to such agreements, incurred or assumed in connection with the disposition of any business, assets or Subsidiary of the Company, other than guaranteesGuarantees or similar credit support by the Company or any of its Subsidiaries of Indebtedness incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition;

 

 (2)obligations to pay accrued expenses, any trade payables or other similar liabilities to trade creditors and other accrued current liabilities incurred in the ordinary course of business as the deferred purchase price of property;

 

 (3)any liability for Federal, state, local or other taxes owed or owing by such Person;

 

 (4)obligations to pay royalties and other amounts due in the ordinary course of business to other royalty and working interest owners;

 

 (5)obligations arising from guaranteesGuarantees to suppliers, lessors, licensees, contractors, franchisees or customers incurred in the ordinary course of business;

 

 (6)obligations (other than express Guarantees of indebtednessIndebtedness for borrowed money) in respect of Indebtedness of other Persons arising in connection with (A) the sale or discount of accounts receivable, (B)(a) trade acceptances and (C)(b) endorsements of instruments for deposit in the ordinary course of business;

 

 (7)obligations in respect of performance bonds provided by the Company or its Subsidiaries in the ordinary course of business and refinancing thereof;

(8)obligations arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business;provided howeverthat such obligation is extinguished within two Business Days of its Incurrence;incurrence;

 

 (9)(8)obligations in respect of any obligations under workers’ compensation laws and similar legislation;

 (10)(9)obligations under Production Payments and Reserve Sales, and any obligationobligations that do not pertain to the borrowing of money under all contracts and other agreements, instruments or arrangements described in respectthe definition of any Hedging Contract;“Oil and Gas Liens”;

 

 (11)(10)any unrealized losses or charges in respect of Hedging Obligations (including those resulting from the application of the “Derivatives and Hedging” topicFASB ASC 815);

(11)Indebtedness consisting of the FASC).financing of insurance premiums in customary amounts consistent with the operations and business of the Company and its Restricted Subsidiaries; and

(12)any repayment or reimbursement obligation of such Person or any of its Restricted Subsidiaries with respect to Customary Recourse Exceptions, unless and until an event or circumstance occurs that triggers the Person’s or such Restricted Subsidiary’s direct repayment or reimbursement obligation (as opposed to contingent or performance obligations) to the lender or other Person to whom such obligation is actually owed, in which case the amount of such direct payment or reimbursement obligation shall constitute Indebtedness.

“Interest Rate Agreement” means any non-speculative interest rate swap agreement, interest rate cap agreement or other financial agreement or arrangement designed to protect the Company or any Restricted Subsidiary of the Company against or manage exposure to fluctuations in interest rates.

“Investment” in any Person means any (1) direct or indirect advance, loan (other than advances to customers or joint interest partners or drilling partnerships sponsored by the Company or any Restricted Subsidiary in the ordinary course of business that are recorded as accounts receivable on the balance sheet of the lender) or other extensions of credit (including by way of Guarantee or similar arrangement) or capital contribution to (by means of(including any transfer of cash or other property to others or any payment for property or services for the account or use of others)others but excluding (a) advances to customers or joint interest partners or drilling partnerships sponsored by the Company or any Restricted Subsidiary of the Company in the ordinary course of business that are recorded as accounts receivable on the balance sheet of the lender, (b) commission, travel and similar advances to officers, directors and employees made in the ordinary course of business and (c) prepaid expenses or deposits and trade payables and extensions of trade credit on commercially reasonable terms in accordance with normal trade practices), (2) all items that are or would be classified as investments on a balance sheet or (3) any purchase or acquisition of Capital Stock, Indebtedness or other similar instrumentssecurities (excluding any interest in an oil or natural gas leasehold to the extent constituting a security under applicable law) issued by such Person. Except as otherwise provided for herein,in the Indenture, the amount of an Investment shall be its fair valueFair Market Value at the time the Investment is made and without giving effect to subsequent changes in value.

If the Company or any Restricted Subsidiary of the Company sells or otherwise disposes of any Capital Stock of any Restricted Subsidiary of the Company, or any Restricted Subsidiary of the Company issues any Capital Stock, in either case, such that, after giving effect to any such sale or disposition, such Person is no longer a Subsidiary, the Company shall be deemed to have made an Investment on the date of any such sale or other disposition equal to the fair market valueFair Market Value of the Capital Stock of and all other Investments in such Restricted Subsidiary retained.

For purposes of the definition of “Unrestricted Subsidiary,” the definition of “Restricted Payment” and the covenant described under the caption “—Limitation on restricted payments”Restricted Payments”:

 

 (1)“Investment” shall include the portion (proportionate to the Company’s equity interest in such Subsidiary) of the fair market valueFair Market Value of the net assets of any Subsidiary of the Company at the time that such Subsidiary is designated an Unrestricted Subsidiary after April 1, 2010;Subsidiary;provided, however, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Company shall be deemed to continue to have a permanent “Investment” in an Unrestricted Subsidiary equal to an amount (if positive) equal to (x)(i) the Company’s “Investment” in such Subsidiary at the time of such redesignation less (y)(ii) the portion (proportionate to the Company’s equity interest in such Subsidiary) of the fair market valueFair Market Value of the net assets of such Subsidiary at the time of such redesignation; and

 

 (2)any property transferred to or from an Unrestricted Subsidiary shall be valued at its fair market valueFair Market Value at the time of such transfer, in each case as determined in good faith by the Board of Directors.transfer.

“Investment Grade Rating” means a rating of Baa3 or better by Moody’s (or its equivalent under any successor rating categories of Moody’s) and BBB- or better by S&P (or its equivalent under any successor rating

categories of S&P) (or, in each case, if such Rating Agency ceases to rate the Notes for reasons outside of the control of the Company, the equivalent investment grade credit rating from any Rating Agency selected by the Company as a replacement Rating Agency).

“Issue Date” means the first date on which the Notes are originally issued.issued under the Indenture.

“Joint Venture” means any Person that is not a direct or indirect Subsidiary of the Company in which the Company or any of its Restricted Subsidiaries makes any equity Investment.

“Lien” means any mortgage, pledge, security interest, encumbrance, lien or charge of any kind (including any conditional sale or other title retention agreement or lease in the nature thereof).

“Material Change” means an increase or decrease (excluding changes that result solely from changes in prices and changes resulting from the Incurrence of previously estimated future development costs) of more than 25% during a fiscal quarter in the discounted future net revenues from proved crude oil and natural gas reserves of the Company and its Restricted Subsidiaries, calculated in accordance with clause (a)(1) of the definition of Adjusted Consolidated Net Tangible Assets;provided, however,that the following will be excluded from the calculation of Material Change:

(1)any acquisitions during the fiscal quarter of oil and gas reserves that have been estimated by independent petroleum engineers and with respect to which a report or reports of such engineers exist; and

(2)any disposition of properties existing at the beginning of such fiscal quarter that have been disposed of in compliance with the covenant described under “—Limitation on sales of assets and subsidiary stock.”

“Moody’s” means Moody’s InvestorsInvestor’s Service, Inc. and its successors.

“Net Available Cash” from an Asset Disposition means cash payments received therefrom (including any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding any other consideration received in the form of assumption by the acquiring Person of Indebtedness or other obligations relating to such properties or assets or received in any other noncash form), in each case net of:

 

 (1)all legal, title and recording tax expenses, commissions and other fees (including financial and other advisory fees) and expenses incurred, and all Federal, state, provincial, foreign and local taxes required to be accrued as a liability under GAAP, as a consequence of such Asset Disposition;

 

 (2)all payments made on any Indebtedness which is secured by any assets subject to such Asset Disposition, in accordance with the terms of any Lien upon or other security agreement of any kind with respect to such assets, or which must by its terms, or in order to obtain a necessary consent to such Asset Disposition, or by applicable law, be repaid out of the proceeds from such Asset Disposition;

 

 (3)all distributions and other payments required to be made to non-controlling interest holders in Subsidiaries or joint venturesJoint Ventures as a result of such Asset Disposition; and

 

 (4)the deduction of appropriate amounts provided by the seller as a reserve, in accordance with GAAP, against any liabilities associated with the property or other assets disposed in such Asset Disposition and retained by the Company or any Restricted Subsidiary of the Company after such Asset Disposition.

“Net Cash Proceeds,” with respect to any issuance or sale of Capital Stock, means the cash proceeds of such issuance or sale net of attorneys’ fees, accountants’ fees, initial purchasers’ or placement agents’ fees, discounts or commissions and brokerage, consultant and other fees actually incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof.

“Net Working Capital” of any Person means:

 

 (1)all current assets of the Companysuch Person and its Restricted Subsidiaries;minus

 

 (2)all current liabilities of the Companysuch Person and its Restricted Subsidiaries, except current liabilities included in Indebtedness;

in each case, determined in accordance with GAAP.

Non-recourse Purchase Money Indebtedness”Non-Recourse Debt” means, Indebtedness (other than Capital Lease Obligations) of the Company or any Subsidiary Guarantor incurred in connection with the acquisition by the Company or such Subsidiary Guarantor in the ordinary course of business of fixed assets used in a Permitted Business (including office buildings and other real property used by the Company or such Subsidiary Guarantor in conducting its operations) with respect to which:Indebtedness of any Unrestricted Subsidiary or Joint Venture, Indebtedness:

 

 (1)the holders of such Indebtedness agree that they will look solely

as to the fixed assets so acquired which secure such Indebtedness, and neither the Company nor any of its Restricted SubsidiarySubsidiaries (a) is directly or indirectly liable for such Indebtedness or (b) provides credit support includingof any kind (including any undertaking, Guarantee, agreement or instrument that would constitute Indebtedness (other thanIndebtedness) or (b) is directly or indirectly liable as a guarantor or otherwise, except for Customary Recourse

Exceptions and except by the grantpledge of (or a Lien onGuarantee limited in recourse solely to) the Equity Interests of such acquired fixed assets);Unrestricted Subsidiary or Joint Venture; and

 

 (2)no defaultas to which the lenders will not have any recourse to the Capital Stock or event of default with respect to such Indebtedness would cause, or permit (after notice or passage of time or otherwise), any holder of any other Indebtednessassets of the Company or aany of its Restricted Subsidiaries (other than the Equity Interests of such Unrestricted Subsidiary Guarantor to declare a default or event of default on such other Indebtedness or cause the payment, repurchase, redemption, defeasance or other acquisition or retirementJoint Venture), except for value thereof to be accelerated or payable prior to any scheduled principal payment, scheduled sinking fund payment or maturity.Customary Recourse Exceptions.

“Officer” means the Chairman of the Board, the President, any Vice Chairman of the Board, Vice President, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary or any Assistant Secretary of a Person.

“Oil and Gas Liens” means:

 

 (1)Liens on any specific property or any interest therein, construction thereon or improvement thereto to secure all or any part of the costs incurred for surveying, exploration, drilling, extraction, development, operation, production, construction, alteration, repair or improvement of, in, under or on such property and the plugging and abandonment of wells located thereon (it being understood that, in the case of oilOil and gas producing properties,Gas Properties, or any interest therein, costs incurred for “development” shall include costs incurred for all facilities relating to such properties or to projects, ventures or other arrangements of which such properties form a part or which relate to such properties or interests);

 

 (2)Liens on an oil or gas producing propertyOil and Gas Properties to secure obligations Incurredincurred or guaranteesGuarantees of obligations Incurredincurred in connection with or necessarily incidental to commitments for the purchase or sale of, or the transportation or distribution of, the products derived from such property;

 

 (3)Liens arising under partnership agreements, oil and gas leases, overriding royalty agreements, joint operating agreements or similar agreements, net profits agreements, production payment agreements, royalty trust agreements, incentive compensation programs on terms that are reasonably customary in the oil and gas business for geologists, geophysicists and other providers of technical services to the Company or a Restricted Subsidiary master limited partnership agreements,of the Company, farm-out agreements, farm-in agreements, division orders, contracts for the sale, purchase, exchange, transportation, gathering or processing of oil, gas or other hydrocarbons,Hydrocarbons, unitizations and pooling designations, declarations, orders and agreements, development agreements, operating agreements, production sales contracts, area of mutual interest agreements, gas balancing or deferred production agreements, injection, repressuring and recycling agreements, salt water or other disposal agreements, seismic or geophysical permits or agreements, and other agreements which are customary in the oil and gas business;provided however,that in all instances, such Liens are limited to the assets that are the subject of the relevant agreement, program, order or contract; and

 

 (4)Liens on pipelines or pipeline facilities that arise by operation of law.

Oil and Gas Properties” means all properties, including equity or other ownership interests therein, owned by such Person or any of its Restricted Subsidiaries which contain or are believed to contain “proved oil and gas reserves” as defined in Rule 4-10 of Regulation S-X of the Securities Act.

Pari Passu Indebtedness” means any Indebtedness of the Company or any Subsidiary Guarantor that rankspari passu in right of payment with the Notes or the Subsidiary Guarantees, as applicable.

“Permitted Acquisition Indebtedness” means Indebtedness or Disqualified Stock of the Company or any of its Restricted Subsidiaries to the extent such Indebtedness or Disqualified Stock was Indebtedness or Disqualified Stock of any other Person existing at the time (a) such Person became a Restricted Subsidiary of the Company or (b) such Person was merged or consolidated with or into the Company or any of its Restricted Subsidiaries (in either case, whether or not such Indebtedness was incurred in contemplation of such merger or consolidation);providedthat on the date such Person became a Restricted Subsidiary or the date such Person was merged or consolidated with or into the Company or any of its Restricted Subsidiaries, as applicable, either:

(1)

immediately after giving effect to such transaction and any related financing transaction on a pro forma basis as if the same had occurred at the beginning of the applicable four-quarter period, the Company or such Person (if the Company is not the survivor in the transaction) would be permitted to incur at

least $1.00 of additional Indebtedness pursuant to the Consolidated Coverage Ratio test set forth in the first paragraph of the covenant described above under the caption “—Certain Covenants—Limitation on Indebtedness”; or

(2)immediately after giving effect to such transaction and any related financing transaction on a pro forma basis as if the same had occurred at the beginning of the applicable four-quarter period, the Consolidated Coverage Ratio of the Company or such Person (if the Company is not the survivor in the transaction) is equal to or greater than the Consolidated Coverage Ratio of the Company immediately prior to such transaction.

“Permitted Business” means the business conducted by the Company and its Subsidiaries on the Issue Date, any business that is related, ancillary or complementary to the businesses of the Company and its Restricted Subsidiaries on the Issue Date and any business of a nature that is or shall have become (i) related to (i) the extraction,acquisition, exploration, development, production, operation and disposition of interests in oil, natural gas and other Hydrocarbon properties, (ii) the gathering, marketing, treating, processing, storage, distributionselling and transporting of any production from such interests or useproperties, (iii) the treatment, processing, storage, transportation or marketing of fuels orHydrocarbons and other minerals including, without limitation, coal gasification, coal liquefaction, natural gas, liquefied natural gas, coalbed or coal mine methane gas and bitumen from tar sands, as well asproducts produced in association therewith, (iv) the production of electricity or other sources of power, such as coal- or natural gas-fueled power generation facilities, wind, solar or hydroelectric power generation facilities or similar activities and (v) any activity that is ancillary to or (ii)necessary or appropriate for the activities described in this definition.

“Permitted Business Investments” means Investments of a nature that is or shall have become customary in the coal production industry.Permitted Business as a means of actively exploiting, exploring for, acquiring, developing, processing, gathering, marketing or transporting Hydrocarbons through agreements, transactions, interests or arrangements which permit one to share risks or costs, comply with regulatory requirements regarding local ownership or satisfy other objectives customarily achieved through the conduct of Permitted Business jointly with third parties, including (i) ownership interests in oil, natural gas, other Hydrocarbon properties or any interest therein or gathering, transportation, processing, storage or related systems or ancillary real property interests, (ii) Investments in the form of or pursuant to operating agreements, working interests, royalty interests, mineral interests, processing agreements, farm-in agreements, farm-out agreements, developments agreements, area of mutual interest agreements, unitization agreements, pooling agreements, joint bidding agreements, service contracts, joint venture agreements, limited liability company agreements, partnership agreements (whether general or limited), subscription agreements, stock purchase agreements and other similar agreements with third parties, and (iii) direct or indirect ownership interests or Investments in drilling rigs, fracturing units and other equipment used in the Permitted Business or in Persons that own or provide such equipment.

“Permitted Investment” means an Investment by the Company or any Restricted Subsidiary in:means:

 

 (1)an Investment in the Company, a Restricted Subsidiary of the Company or a Person that will, upon the makingas a result of such Investment, become a Restricted Subsidiary;provided, however,thatSubsidiary of the primary business of such Restricted Subsidiary is a Permitted Business;Company;

 

 (2)another Person if as a result of such Investment such other Person is merged or consolidated with or into, or transfers or conveys all or substantially all its assets to, the Company or a Restricted Subsidiary;provided,however, that such Person’s primary business is a Permitted Business;

 (3)an Investment in Temporary Cash Investments;

 

 (4)an Investment in receivables owing to the Company or any of its Restricted SubsidiarySubsidiaries if created or acquired in the ordinary course of business and payable or dischargeable in accordance with customary trade terms;provided, however,that such trade terms, may includeincluding such concessionary trade terms as the Company or any such Restricted Subsidiary deems reasonable under the circumstances;

 

 (5)payroll, travel and similar advances to cover matters that are expected at the time of such advances ultimately to be treated as expenses for accounting purposes and that are made in the ordinary course of business;

 

 (6)loans or advances to officers, directors or employees made in the ordinary course of business;

 (7)stock, obligations or securitiesany Investments received in settlementcompromise or resolution of debts created(a) obligations of trade creditors or customers that were incurred in the ordinary course of business and owing toof the Company or any of its Restricted SubsidiarySubsidiaries, including pursuant to any plan of reorganization or in satisfactionsimilar arrangement upon the bankruptcy or insolvency of judgments;any trade creditor or customer or (b) litigation, arbitration or other disputes;

 

 (8)any Person to the extent such Investment represents the non-cash portionmade as a result of the consideration received forreceipt of non-Cash Consideration from an Asset Disposition as permitted(or a disposition excluded from the definitions thereof) that was made pursuant to and in compliance with the covenant described above under the caption “—Certain Covenants—Limitation on salesSales of assetsAssets and subsidiary stock”;Subsidiary Stock,” including pursuant to an Asset Swap;

 

 (9)Investments made pursuant to Hedging Obligations of the Company and theor its Restricted Subsidiaries;

 

 (10)Investments in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in connection with a Qualified Receivables Transaction, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Transaction or any related Indebtedness;

 

 (11)Investments in or payments to SpinCo or its Subsidiaries in connection with a Qualified Spin Transaction and the transactions relating thereto, including the payment of all fees and expenses related thereto;

(12)in connection with the management of employee benefit trust funds of the Company or any Loan Party,of its Restricted Subsidiaries, Investment of such employee benefit trust funds in Investments of a type generally and customarily used in the management of employee benefit trust funds;

(13)Permitted Business Investments;

(14)Investments resulting from any acquisition of assets or Capital Stock solely in exchange for the issuance of, or with or out of the net cash proceeds of the substantially concurrent (a) contribution (other than from a Restricted Subsidiary) to the equity capital of the Company in respect of, or (b) sale (other than to a Restricted Subsidiary) of, Equity Interests (other than Disqualified Stock) of the Company;

(15)Investments resulting from repurchases of the Notes;

(16)any Guarantee of Indebtedness permitted to be incurred by the covenant entitled “—Certain Covenants—Limitation on Indebtedness” other than a Guarantee of Indebtedness of an Affiliate of the Company that is not a Restricted Subsidiary of the Company;

(17)any Investment existing on, or made pursuant to binding commitments existing on, the Issue Date and any Investment consisting of an extension, modification or renewal of any Investment existing on, or made pursuant to a binding commitment existing on, the Issue Date;providedthat the amount of any such Investment may be increased (a) as required by the terms of such Investment as in existence on the Issue Date or (b) as otherwise permitted under the Indenture;

(18)Investments acquired after the Issue Date as a result of the acquisition by the Company or any Restricted Subsidiary of the Company of another Person, including by way of a merger, amalgamation or consolidation with or into the Company or any of its Restricted Subsidiaries in a transaction that is not prohibited by the covenant described above under the caption “—Certain Covenants—Merger and Consolidation” after the Issue Date to the extent that such Investments were not made in contemplation of such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation;

(19)endorsements of negotiable instruments and documents in the ordinary course of business;

(20)such Investments consisting of prepaid expenses, negotiable instruments held for collection and lease, utility and workers’ compensation, performance and other similar deposits made in the ordinary course of business by the Company or any of its Restricted Subsidiaries;

(21)Guarantees of performance or other obligations (other than Indebtedness) arising in the ordinary course in the Permitted Business, including obligations under oil and natural gas exploration, development, joint operating, and related agreements and licenses, concessions or operating leases related to the Permitted Business; and

 

 (12)(22)other Investments (including Investments in joint ventures)Joint Ventures) in an aggregate amount not to exceed the greater of (x) $250.0(a) $500 million and (y) 5%(b) 5.0% of Consolidated Net Tangible Assets,the Company’s ACNTA, in each case, at any one time outstanding (with each Investment being valued as of the date made and without regard to subsequent changes in value).;provided that if any Investment pursuant to this clause (22) is made in any Person that is not a Restricted Subsidiary of the Company at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Company after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (1) of this definition and shall cease to have been made pursuant to this clause (22) for so long as such Person continues to be a Restricted Subsidiary of the Company.

“Permitted Liens” means, with respect to any Person:

 

 (1)Liens on assets of the Companysecuring Indebtedness and the Subsidiary Guarantors securing (i)other obligations under Credit Facilities incurred pursuant to clause (b)(1) of the covenant described under “—Limitation on indebtedness” and (ii) the 2012 Notes (as in effect on the Issue Date)definition of “Permitted Debt”;

 

 (2)Liens securing Indebtedness and other obligations under Credit Facilities that were permitted by the terms of the Indenture to be incurred pursuant to the covenant described under the caption “—Limitation on Indebtedness” (other than pursuant to clause (1) of the definition of “Permitted Debt”);provided that on the date of incurrence of such Indebtedness, after giving pro forma effect to the incurrence thereof and the application of proceeds therefrom, the Secured Leverage Ratio would not be greater than 2.5 to 1.0;

(3)Liens existing as of the Issue Date;

 

 (3)(4)Liens securingfor the benefit of (or to secure) the Notes, any Subsidiary Guarantee and other obligations arising under the Indenture;

 

 (4)(5)any Lien existing on any property of a Person at the time such Person is merged or consolidated with or into the Company or aany of its Restricted SubsidiarySubsidiaries or becomes a Restricted Subsidiary of the Company (and not incurred in anticipation of or in connection with such transaction);providedthat such Liens are not extended to other property of the Company or the other Restricted Subsidiaries;Subsidiaries of the Company;

 

 (5)(6)any Lien existing on any property (including Capital Stock) at the time of the acquisition thereof (and not incurred in anticipation of or in connection with such transaction);providedthat such Liens are not extended to other property of the Company or theits Restricted Subsidiaries;

 

 (6)(7)

any Lien incurred in the ordinary course of business incidental to the conduct of the business of the Company or theany of its Restricted Subsidiaries or the ownership of their property (including (i) easements, rights of way and similar encumbrances, (ii) rights or title of lessors under leases (other than Capital Lease Obligations), (iii) rights of collecting banks having rights of setoff, revocation, refund or

chargeback with respect to money or instruments of the Company or theany of its Restricted Subsidiaries on deposit with or in the possession of such banks, (iv) Liens imposed by law, including Liens under workers’ compensation or similar legislation and mechanics’, carriers’, warehousemen’s, materialmen’s, suppliers’ and vendors’ Liens, (v) Liens incurred to secure performance of obligations with respect to statutory or regulatory requirements, performance or return-of-money bonds, insurance or surety bonds, orbid, plugging and abandonment and performance bonds other obligations of a like nature and incurred in a manner consistent with industry practicethe ordinary course of business (including Liens to secure letters of credit issued to assure payment of such obligations) and (vi) Oil and Gas Liens, in each case which are not incurred in connection with the borrowing of money, the obtaining of advances or credit or the payment of the deferred purchase price of property (other than trade accounts payable arising in the ordinary course of business));

 (7)(8)Liens for taxes, assessments and governmental charges not yet due or the validity of which are being contested in good faith by appropriate proceedings, promptly instituted and diligently conducted, and for which adequate reserves have been established to the extent required by GAAP as in effect at such time;

 

 (8)(9)Liens incurred to secure appeal bonds and judgment and attachment Liens not constituting a Default, in each case in connection with litigation or legal proceedings that are being contested in good faith by appropriate proceedings, so long as reserves have been established to the extent required by GAAP as in effect at such time;proceedings;

 

 (9)(10)Liens securing Hedging Obligations of the Company and its Restricted Subsidiaries;

 

 (10)(11)Liens securing Non-recourse Purchase Money Indebtedness and Capital Lease Obligations, mortgage financings, purchase money obligations or other Indebtedness incurred pursuant to clause (7)(6) of the covenant described under “—Limitation on indebtedness”definition of “Permitted Debt”;providedthat such Liens attach only to the property (a) acquired with the proceeds of such purchase money Indebtedness or the property(b) which is the subject of such Capital Lease Obligations;

 

 (11)(12)Liens securing Non-recourse Purchase Moneypurchase money obligations or other Indebtedness granted in connection with the acquisition by the Company or any of its Restricted SubsidiarySubsidiaries in the ordinary course of business of fixed assets used in a Permitted Business (including the office buildings and other real property used by the Company or such Restricted Subsidiary in conducting its operations);providedthat (i)(a) such Liens attach only to the fixed assets acquired with the proceeds of such Non-recourse Purchase Money Indebtedness;purchase money obligations or other Indebtedness or property and (ii)assets affixed or appurtenant thereto; and (b) such Non-recourse Purchase Moneypurchase money obligations or other Indebtedness is not in excess of the purchase price of such fixed assets;

 

 (12)(13)Liens resulting from the deposit of funds or evidences of Indebtedness in trust for the purpose of decreasing or legally defeasing Indebtedness of the Company or any of its Restricted SubsidiarySubsidiaries so long as such deposit of funds is permitted by the provisions of the Indenture described under the caption “—Certain covenants—Covenants—Limitation on restricted payments”Restricted Payments”;

 

 (13)(14)Liens resulting from a pledge of Capital Stockon the Equity Interests of a Person that is not a Restricted Subsidiary of the Company to secure obligations of such Person and any refinancingsrefinancing thereof;

 

 (14)(15)Liens in favor of the Company or a Restricted Subsidiary of the Company;

(16)claims, Liens or encumbrances upon, and defects of title to, real or personal property, including any attachment of personal or real property or real property or other legal process prior to adjudication of a dispute on the merits, (a) if the validity or amount thereof is being contested in good faith by appropriate and lawful proceedings diligently conducted so long as levy and execution thereon have been stayed and continue to be stayed, (b) if a final judgment is entered and such judgment is discharged within thirty (30) days of entry, or (c) the payment of which is covered in full (subject to customary deductible) by insurance;

(17)precautionary filings under the UCC by a lessor with respect to personal property leased to such Person;

(18)Liens on insurance policies and proceeds thereof, or other deposits, to secure insurance premium financings;

(19)Liens on Receivables and related assets of the type specified in the definition of “Qualified Receivables Transaction” incurred in connection with a Qualified Receivables Transaction;

(20)Liens on cash, Temporary Cash Investments or other property arising in connection with the defeasance, discharge or redemption of Indebtedness;

(21)Liens in respect of Production Payments and Reserve Sales;provided that such Liens are limited to the property that is subject to such Production Payments and Reserve Sales;

(22)other Liens not otherwise permitted hereunder with respect to Indebtedness that does not in the aggregate exceed at any permitted extension, renewal, refinancings, refundings or exchange (or successive extensions, renewals, refinancing, refunding or exchanges), in whole or in part,one time outstanding the greater of or for(a) $200 million and (b) 3.0% of the Company’s ACNTA at the time of incurrence of any Indebtedness secured by a Lien permitted by this clause (22); and

(23)Liens to renewing, extending, refinancing or refunding a Lien referred to in clauses (2), (3), (4), (5) and (11)(1) through (22) above;provided however,that (i) such new Lien shall be limited to all or part of the same property (including future improvements thereon and accessions thereto) subject to the original Lien and (ii) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A)(a) the outstanding principal amount or, if greater, the committed amount of the Indebtedness secured by such original Lien immediately prior to such extension, renewal, refinancing, refunding or exchange and (B)(b) an amount necessary to pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement;replacement.

(15)Liens in favor of the Company or a Restricted Subsidiary;

(16)

claims, Liens or encumbrances upon, and defects of title to, real or personal property, including any attachment of personal or real property or real property or other legal process prior to adjudication of a

dispute on the merits, (A) if the validity or amount thereof is being contested in good faith by appropriate and lawful proceedings diligently conducted so long as levy and execution thereon have been stayed and continue to be stayed, (B) if a final judgment is entered and such judgment is discharged within thirty (30) days of entry, or (C) the payment of which is covered in full (subject to customary deductible) by insurance;

(17)precautionary filings under the UCC by a lessor with respect to personal property leased to such Person;

(18)Liens on the equity interests or assets of Unrestricted Subsidiaries or any Person who is not a Subsidiary of the Company;

(19)Liens on Receivables and related assets of the type specified in the definition of “Qualified Receivables Transaction” Incurred in connection with a Qualified Receivables Transaction; and

(20)other Liens not otherwise permitted hereunder with respect to Indebtedness that does not in the aggregate exceed at any one time outstanding the greater of (x) $100.0 million and (y) 2% of Consolidated Net Tangible Assets at the time of Incurrence of any Indebtedness secured by a Lien permitted by this clause (20).

“Permitted Marketing Obligations” means Indebtedness of the Company or any Restricted Subsidiary of the Company under letter of credit or borrowed money obligations, or in lieu of or in addition to such letters of credit or borrowed money, guaranteesGuarantees of such Indebtedness or other obligations,obligation, of the Company or any Restricted Subsidiary of the Company by any other Restricted Subsidiary of the Company, as applicable, related to the purchase by the Company or any of its Restricted SubsidiarySubsidiaries of hydrocarbonsHydrocarbons for which the Company or such Restricted Subsidiary has contracts to sell;provided however,that, in the event that such Indebtedness or obligations are guaranteedGuaranteed by the Company or any such Restricted Subsidiary, then either:

 

 (1)the Person with which the Company or such Restricted Subsidiary has contracts to sell has an investment grade credit ratingInvestment Grade Rating from S&P or Moody’s, or in lieu thereof, a Person guaranteeingGuaranteeing the payment of such obligated Person has an investment grade credit ratingInvestment Grade Rating from S&P or Moody’s; or

 

 (2)such Person posts, or has posted for it, a letter of credit in favor of the Company or such Restricted Subsidiary with respect to all such Person’s obligations to the Company or such Restricted Subsidiary under such contracts.

“Person” means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity.

“Preferred Stock,” as applied to the Capital Stock of any Person, means Capital Stock of any class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over shares of Capital Stock of any other class of such Person.

The term “principal” of a Note means the principal of the Note plus the premium, if any, payable on the Note which is due or overdue or is to become due at the relevant time.

Production Payments” means Dollar-Denominated Production Payments and Volumetric Production Payments, collectively.

“Production Payments and Reserve Sales” means the grant or transfer by the Company or any of its Restricted Subsidiaries to any Person of a royalty, overriding royalty, net profits interest, Production Payment, partnership or other interest in Oil and Gas Properties, reserves or the right to receive all or a portion of the production or the proceeds from the sale of production attributable to such properties where the holder of such interest has recourse solely to such production or proceeds of production, subject to the obligation of the grantor or transferor to operate and maintain, or cause the subject interests to be operated and maintained, in a reasonably prudent manner or other customary standard or subject to the obligation of the grantor or transferor to indemnify for environmental, title or other matters customary in the Permitted Business, including any such grants or transfers pursuant to incentive compensation programs on terms that are reasonably customary in the Permitted Business for geologists, geophysicists or other providers of technical services to the Company or any of its Restricted Subsidiaries.

Qualified Receivables Transaction” means the Existing Receivables Financing and any transaction or series of transactions that may be entered into by the Company or any of its Restricted SubsidiarySubsidiaries in which the

Company or any such Restricted Subsidiary may sell, contribute, convey or otherwise transfer to (1) a Receivables Subsidiary (in the case of a transfer by the Company or any Restricted Subsidiaries) and/orSubsidiaries of the Company) and (2) any other Person (in the case of a transfer by a Receivables Subsidiary), or may grant a security interest in, any Receivables (whether now existing or arising in the future) of the Company or any Restricted Subsidiary of the Company, and any related assets, including without limitation, all collateral securing such Receivables, all contracts and all guaranteesGuarantees or

other obligations in respect of such Receivables, proceeds of such Receivables and other assets (including contract rights) which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving Receivables.

“Qualified Spin Transaction” means the distribution, through one or more dividends by the Company, of a majority of the Voting Stock of a Subsidiary (“SpinCo”) which, directly or indirectly through one or more Subsidiaries, holds all or substantially all of the Company’s and its Restricted Subsidiaries’ (a) oil and gas properties and related assets or (b) coal reserves and related assets; in either case,provided:

(1)if such transaction involves the distribution of the Company’s and its Restricted Subsidiaries’ oil and gas properties and related assets (an “E&P Spin Transaction”), such SpinCo (“E&P SpinCo”) shall become the successor issuer of the Notes upon consummation of such transaction;

(2)concurrently with the consummation of an E&P Spin Transaction, E&P SpinCo shall assume all of the obligations of the Company under the Notes and the Indenture pursuant to agreements reasonably satisfactory to the Trustee;

(3)concurrently with the consummation of an E&P Spin Transaction, each Guarantor that is a Subsidiary of E&P SpinCo shall ratify its obligations under its Subsidiary Guarantee by documentation reasonably satisfactory to the Trustee;

(4)immediately after giving effect to the dividends of Voting Stock of SpinCo and the incurrence of any Indebtedness by SpinCo or its Subsidiaries in connection with such transaction, as if such transaction had occurred at the beginning of the most recently ended four full fiscal quarters for which internal financial statements of the Company (or E&P SpinCo if it is the successor issuer) are available, the Total Leverage Ratio of the Company (or E&P SpinCo if it is the successor issuer), as determined at the time of the dividend of Capital Stock of SpinCo, would not be greater than 2.75 to 1.0;

(5)no Default or Event of Default shall have occurred and be continuing or would result therefrom; and

(6)the Company (or E&P SpinCo if it is the successor issuer) shall deliver to the Trustee an officers’ certificate and an opinion of counsel that such transaction complies with the Indenture and, in the case of such opinion of counsel, that any such agreements are legally valid and binding and are enforceable against E&P SpinCo and the Guarantors, subject to customary exceptions.

Upon assumption of the obligations under the Notes and the Indenture by E&P SpinCo as provided in the preceding paragraph, E&P SpinCo shall become the successor to CONSOL Energy Inc. and shall succeed to, and be substituted for, and may exercise every right and power of, the Company under the Indenture, and CONSOL Energy Inc., as the predecessor Company, shall be released from all obligations under and with respect to the Indenture and the Notes.

“Rating Agency” means (1) each of Moody’s and S&P and (2) if Moody’s or S&P ceases to rate the Notes for reasons outside of the control of the Company, a “nationally recognized statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) underSection 3(a)(62) of the Exchange Act selected by the Company as a replacement agency for Moody’s or S&P, as the case may be.

Receivable”Receivables” means any indebtednessIndebtedness and other payment obligations owed to the Company, any Restricted Subsidiary of the Company or any Receivables Subsidiary, whether constituting an account, chattel paper, payment intangible, instrument or general intangible, in each case arising in connection with (a)(i) the sale of goods

or the rendering of service or (b)(ii) the lease, license, rental or use of equipment, facilities or software, including the obligation to pay any finance charges, fees and other charges with respect thereto.

“Receivables Subsidiary” means a wholly owned Subsidiary of the Company (or another Person formed for the purpose of engaging in a Qualified Receivables Transaction with the Company or a Restricted Subsidiary of the Company in which the Company or any Restricted Subsidiary of the Company makes an Investment and to which the Company or any Restricted Subsidiary of the Company transfers Receivables) that engages in no activities other than in connection with the financing of Receivables, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any business or activities incidental or related to such business, and that is designated by the Company’s Board of Directors (as provided below) as a Receivables Subsidiary and

 

 (1)no portion of the Indebtedness or any other Obligationsobligations (contingent or otherwise) of which:

 

 (a)is guaranteedGuaranteed by the Company or any Restricted Subsidiary of the Company (excluding guaranteesGuarantees of Obligationsobligations (other than the principal of, and interest on, Indebtedness) pursuant to representations, warranties, covenants, indemnities and performance guarantees customarily entered into in connection with accounts receivables financings),;

 

 (b)is recourse to or obligates the Company or any Restricted Subsidiary of the Company in any way other than pursuant to representations, warranties, covenants and indemnities customarily entered into in connection with accounts receivables financingsfinancings; or

 

 (c)subjects any property or asset of the Company or of any Restricted Subsidiary of the Company, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to representations, warranties, covenants and indemnities customarily entered into in connection with accounts receivables financings;

 

 (2)with which neither the Company nor any Restricted Subsidiary of the Company has any material contract, agreement, arrangement or understanding other than on terms no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the Company, other than fees payable in the ordinary course of business in connection with servicing Receivables; and

 

 (3)with which neither the Company nor any Restricted Subsidiary of the Company has any obligation to maintain or preserve such Receivables Subsidiary’s financial condition (other than customary requirements for the maintenance of a minimum net worth) or cause such Receivables Subsidiary to achieve certain levels of operating results.

the maintenance of a minimum net worth) or cause such Receivables Subsidiary to achieve certain levels of operating results.

Notwithstanding the foregoing, CNX Funding Corporation shall be deemed to be a Receivables Subsidiary under the Existing Receivables Financing. Any designation of a Receivables Subsidiary by the Company’s Board of Directors after the Issue Date shall be evidenced to the Trustee by filing with the Trustee a Board Resolution giving effect to such designation and an Officers’ Certificateofficers’ certificate certifying that such designation complied with the preceding conditions.

“Refinance” means, inwith respect ofto any Indebtedness, to refinance, extend, renew, refund, repay, prepay, redeem, defease or retire, or to issue other Indebtedness in exchange or replacement for, such Indebtedness. “Refinanced” and “Refinancing” shall have correlative meanings.

“Refinancing Indebtedness” means Indebtedness that Refinances any Indebtedness of the Company or any Restricted Subsidiary of the Company existing on the Issue Date or Incurredincurred in compliance with the Indenture, including Indebtedness that Refinances Refinancing Indebtedness;provided however,that:

 

 (1)such Refinancing Indebtedness has a Stated Maturity no earlier than the Stated Maturity of the Indebtedness being Refinanced;

 (2)such Refinancing Indebtedness has an Average Life at the time such Refinancing Indebtedness is Incurredincurred that is equal to or greater than the Average Life of the Indebtedness being Refinanced;

 

 (3)such Refinancing Indebtedness has an aggregate principal amount (or if Incurredincurred with original issue discount, an aggregate issue price) that is equal to or less than the aggregate principal amount (or if Incurredincurred with original issue discount, the aggregate accreted value) then outstanding or committed (plus fees and expenses, including any premium and defeasance costs) under the Indebtedness being Refinanced;

 

 (4)if the refinanced Indebtedness was subordinated in right of payment to the Notes or the Subsidiary Guarantees, as the case may be, then such Refinancing Indebtedness, by its terms, is subordinate in right of payment to the Notes or the Subsidiary Guarantees, as the case may be, at least to the same extent as the refinanced Indebtedness; and

 

 (5)if the refinanced Indebtedness being Refinanced is Non-recourse Purchase Money Indebtedness,purchase money obligations, (a) the holders of such Refinancing Indebtedness satisfies clauses (1)agree that they will look solely to the fixed assets so acquired which secure such Refinancing Indebtedness, and (2)neither the Company nor any Restricted Subsidiary of the definition of “Non-recourse Purchase Money Indebtedness”;provided further, however,thatCompany (i) is directly or indirectly liable for such Refinancing Indebtedness shall not includeor (ii) provides credit support, including any undertaking, Guarantee, agreement or instrument, related to such Refinancing Indebtedness that would constitute Indebtedness (other than the grant of a Lien on such acquired fixed assets) and (b) no default or event of default with respect to such Refinancing Indebtedness would cause, or permit (after notice or passage of time or otherwise), any holder of any other Indebtedness of the Company or a Subsidiary Guarantor to declare a default or event of default on such other Indebtedness or cause the payment, repurchase, redemption, defeasance or other acquisition or retirement for value thereof to be accelerated or payable prior to any scheduled principal payment, scheduled sinking fund payment or maturity;

provided further,however, that Refinancing Indebtedness shall not include:

 

 (x)(6)Indebtedness of a Subsidiary that Refinances Indebtedness of the CompanyCompany; or

 

 (y)(7)Indebtedness of the Company or a Restricted Subsidiary of the Company that Refinances Indebtedness of an Unrestricted Subsidiary.

Reporting Default” means a Default as described in clause (4) under the caption “—Defaults.”

“Restricted Investment” means any Investment other than a Permitted Investment.

Restricted Payment” with respect to any Personthe Company means:

 

 (1)the declaration or payment of any dividends or any other distributions of any sort in respect of its Capital StockEquity Interests (including any payment in connection with any merger or consolidation involving such Person)the Company) or similar payment to the direct or indirect holders of its Capital Stock (other thanEquity Interests, other than:

 

 (x)(a)dividends or distributions payable solely in its Capital StockEquity Interests (other than Disqualified Stock),;

 

 (y)(b)dividends or distributions payable solely to the Company or a Restricted Subsidiary of the Company; and (z) 

(c)pro rata dividends or other distributions made by a Restricted Subsidiary that is not a Wholly Owned Subsidiaryof the Company to minority stockholders (or owners of an equivalent interest in the case of a Subsidiary that is an entity other than a corporation));

 

 (2)the purchase, repurchase, redemption or other acquisition or retirement for value of any Capital Stock of the Company held by any other Person (other than any acquisition or ofretirement for value from, or payment to, the Company or any Capital Stock of a Restricted Subsidiary held by any Affiliate of the Company (other than a Restricted Subsidiary), including the exercise of any option to exchange any Capital Stock (other than into Capital Stock of the Company that is not Disqualified Stock)Company);

 (3)the purchase, repurchase, redemption, defeasance or other acquisition or retirement for value, prior to scheduled maturity, scheduled repayment or scheduled sinking fund payment of any Subordinated Obligations of such Personthe Company (other than amounts owed to(a) any intercompany Indebtedness between or among the Company or a Subsidiary Guarantor orand any of its Restricted Subsidiaries and (b) the purchase, repurchase or other acquisition of Subordinated Obligations of such Person purchasedacquired in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of acquisition); or

 (4)the making of any Investment (other than a Permitted Investment) in any Person.

“Restricted Subsidiary” means any Subsidiary of the Companyreferent Person that is not an Unrestricted Subsidiary. Unless otherwise indicated, references to a “Restricted Subsidiary” are to a Restricted Subsidiary of the Company.

“S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Company, Inc., and its successors.

Sale/Leaseback Transaction” means an arrangement relating to property owned on the Issue Date or thereafter acquired whereby the Company or a Restricted Subsidiary transfers such property to a Person and the Company or a Restricted Subsidiary leases it from such Person;

Secured Indebtedness” means any Indebtedness of the Companyreferent Person or any of its Restricted Subsidiaries secured by a Lien.

“Secured Leverage Ratio” means, with respect to any Person on any date of determination, the ratio of:

(1)the aggregate principal amount of Secured Indebtedness of the type referenced under clauses (1), (2) and (4) of the definition of “Indebtedness” outstanding on such date (and, for this purpose, letters of credit will be deemed to have a principal amount equal to the face amount thereof, whether or not drawn), to:

(2)the aggregate amount of such Person’s Consolidated Cash Flow for the most recent four-quarter period for which financial information is available.

The Secured Leverage Ratio shall be calculated using the same methodologies and assumptions used to calculate the Consolidated Coverage Ratio.

“Senior Debt” means (1) all Indebtedness of the Company or any of its Restricted Subsidiaries outstanding under Credit Facilities and all obligations under Hedging Obligations with respect thereto; (2) any other Indebtedness of the Company or any of its Restricted Subsidiaries permitted to be incurred under the terms of the Indenture, unless the instrument under which such Indebtedness is incurred expressly provides that it is subordinated in right of payment to the Notes or any Subsidiary Guarantee; and (3) all obligations with respect to the items listed in the preceding clauses (1) and (2). Notwithstanding anything to the contrary in the preceding sentence, Senior Debt will not include: (1) any intercompany Indebtedness of the Company or any of its Restricted Subsidiaries to the Company or any of its Affiliates; or (2) any Indebtedness that is incurred in violation of the Indenture. For the avoidance of doubt, “Senior Debt” will not include any trade payables or taxes owed or owing by the Company or any of its Restricted Subsidiaries.

“Significant Subsidiary” means any Restricted Subsidiary that would be a “Significant Subsidiary” of the Company within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC.

“Stated Maturity” means, with respect to any security, the date specified in such security as the fixed date on which the final payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of any contingency unless such contingency has occurred).

“Stock Offering” means a primary offering, whether public or private, of shares of common stockCapital Stock (other than Disqualified Stock) of the Company.

“Subordinated Obligation” means any Indebtedness of the Company or any Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred)incurred) which is subordinate or junior in right of payment to, in the case of the Company, the Notes or, in the case of a Subsidiary Guarantor, its Subsidiary Guarantee pursuant to a written agreement to that effect.

“Subsidiary” means, inwith respect ofto any Person, any corporation, association, partnership or other business entity of which more than 50% of the total voting power of shares of Capital Stock or other interests (including partnership interests) entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by:

 

 (1)such Person;

 

 (2)such Person and one or more Subsidiaries of such Person; or

 

 (3)one or more Subsidiaries of such Person.

“Subsidiary Guarantor” means each Subsidiary of the Company that executes the Indenture as a guarantorGuarantor and each other Subsidiary of the Company that thereafter Guarantees the Notes pursuant to the terms of the Indenture.Indenture, in each case until a successor replaces such Person pursuant to the applicable provisions of the Indenture and, thereafter, means such successor.

“Temporary Cash Investments” means any of the following:

 

 (1)any investmentInvestment in direct obligations of the United States of America or any agency thereof or obligations guaranteed by the United States of America or any agency thereof;

 

 (2)investmentsInvestments in time deposit accounts, certificates of deposit and money market deposits maturing within one year of the date of acquisition thereof issued by a bank or trust company which is organized under the laws of the United States of America, any state thereof or any foreign country recognized by the United States, of America, and which bank or trust company has capital, surplus and undivided profits aggregating in excess of $500.0$250 million (or the foreign currency equivalent thereof) and has outstanding debt which is rated “A-” (or such similar equivalent rating) or higher by at least one nationally recognized creditstatistical rating organization (as defined in Rule 436 underSection 3(a)(62) of the SecuritiesExchange Act) or any money-market fund sponsored by a registered broker dealer or mutual fund distributor whose assets consist of obligations of the types described in clauses (1), (2), (3), (4) and (5) hereof;of this definition;

 (3)repurchase obligations with a term of not more than 30 days for underlying securities of the types described in clause (1) aboveof this definition entered into with a bank meeting the qualifications described in clause (2) above;of this definition;

 

 (4)investmentsInvestments in commercial paper, maturing not more than 180 days after the date of acquisition, issued by a Person (other than an Affiliate of the Company) organized and in existence under the laws of the United States of America or any foreign country recognized by the United States of America with a rating at the time as of which any investmentInvestment therein is made of “P-2” (or higher) according to Moody’s or “A-2” (or higher) according to S&P or “R-1” (or higher) by Dominion Bond Rating Service Limited or Canadian Bond Rating Service, Inc. (in the case of a Canadian issuer);

 

 (5)investmentsInvestments in securities with maturities of six months or less from the date of acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States of America, or by any political subdivision or taxing authority thereof, and rated at least “A” by S&P or “A” by Moody’s;

 

 (6)investmentsInvestments in asset-backed securities maturing within one year of the date of acquisition thereof with a long-term rating at the time as of which any investmentInvestment therein is made of “A3” (or higher) by Dominion Bond Rating Service Limited or Canadian Bond Rating Service, Inc. (in the case of a Canadian issuer); and

 

 (7)obligations of any foreign government or obligations that possess a guaranty of the full faith and credit of any foreign government;

 (8)obligations of United States government-sponsored enterprises, federal agencies, and federal financing banks that are not otherwise authorized including, but not limited to, (i) United States government-sponsored enterprises such as instrumentalities of the Federal Credit System (Bank for Cooperatives, Federal Land Banks), Federal Home Loan Banks and Federal National Mortgage Association and (ii) Federal agencies such as instrumentalities of the Department of Housing and Urban Development (Federal Housing Administration, Government National Mortgage Association), Export-Import Bank, Farmers Home Administration and Tennessee Valley Authority;

 

 (9)debt obligations (other than commercial paper obligations) of domestic or foreign corporations;

 

 (10)preferred stock obligations with a floating rate dividend that is reset periodically at auction;

 

 (11)investmentsInvestments in repurchase agreements collateralized by any of the above securities eligible for outright purchase, purchase;provided that the collateral is delivered to a bank custody account in accordance with the terms of a written repurchase agreement with a dealer or bank; and

 

 (12)Investments in shares of institutional mutual funds whose investment policies are essentially in agreement with the above type and criteria for investmentsInvestments otherwise set forth in this definition, of Permitted Investments,

providedthat investmentsInvestments described in clauses (7) through (12) aboveof this definition are restricted to obligations rated no lower than A-3“A3” or P-1“P-1” by Moody’s or A-“A-” or A-1“A-1” by S&P.

“Total Leverage Ratio” means, with respect to any Person on any date of determination, the ratio of:

(1)the aggregate principal amount of Indebtedness of such Person and the Restricted Subsidiaries of such Person of the type referenced under clauses (1), (2) and (3) of the definition of “Indebtedness” outstanding on such date (and, for this purpose, letters of credit will be deemed to have a principal amount equal to the face amount thereof, whether or not drawn), to:

(2)the aggregate amount of such Person’s Consolidated Cash Flow for the most recent four-quarter period for which internal financial statements are available.

The Total Leverage Ratio shall be calculated using the same methodologies and assumptions used to calculate the Consolidated Coverage Ratio.

“Treasury Rate” means, asin respect of any date of redemption of Notes, the yield to maturity atas of the time of computation of United States Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519) that has become publicly available at least two Business Days prior to the redemption date (or, if such Statistical Release is no longer published, any publicly available source orof similar market data)) most nearly equal to the period from the redemption date to MarchApril 1, 2016;2018;provided, however, that if the period from the redemption date to MarchApril 1, 2016, is not equal to the constant maturity of a United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear Interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from the redemption date to March 1, 2016,2018, is less than one year, the weekly average yield on activelyactually traded United States Treasury securities adjusted to a constant maturity of one year will be used. The Company will (1) calculate the Treasury Rate no later than the second (and no earlier than the fourth) Business Day preceding the applicable redemption date and (2) prior to such redemption date file with the Trustee an officers’ certificate setting forth the Applicable Premium and the Treasury Rate and showing the calculation of each in reasonable detail.

“Unrestricted Subsidiary” means:

(1)CNX Funding Corporation;

(2)any Subsidiary of the Company that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors in the manner provided below; and

(3)any Subsidiary of an Unrestricted Subsidiary.

The Board of Directors may designatemeans (i) CNX Funding and (ii) any other Subsidiary of the Company (including any newly acquired or newly formed Subsidiary) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Capital Stocka Person becoming a Subsidiary through merger or Indebtedness of,consolidation or holds any Lien on any property of, the Company or any other Subsidiary of the CompanyInvestment therein) that is not a Subsidiary of the Subsidiary to be so designated;provided, however,that either

(A) the Subsidiary to be so designated has total assets of $1,000 or less or (B) if such Subsidiary has assets greater than $1,000, such designation would be permitted under the covenant described under “—Certain covenants—Limitation on restricted payments.” The Board of Directors may designate any Unrestricted Subsidiary to be a Restricted Subsidiary;provided, however,that immediately after giving effect to such designation (x) the Company could Incur $1.00 of additional Indebtedness under paragraph (a) of the covenant described under “—Certain covenants—Limitation on indebtedness��� and (y) no Default shall have occurred and be continuing. Any such designation by the Board of Directors shall be evidenced byof the Company as an Unrestricted Subsidiary pursuant to a resolution of the Board of Directors, but only to the Trustee by promptly filingextent that CNX Funding or such other Subsidiary:

(1)has no Indebtedness other than Non-Recourse Debt;

(2)except as permitted by the covenant described above under the caption “—Certain Covenants—Limitation on affiliate transactions,” is not party to any agreement, contract, arrangement or understanding with the Company or any Restricted Subsidiary of the Company unless the terms of any such agreement, contract, arrangement or understanding are no less favorable to the Company or such Restricted Subsidiary than those that might be obtained at the time from Persons who are not Affiliates of the Company;

(3)is a Person with respect to which neither the Company nor any of its Restricted Subsidiaries has any direct or indirect obligation (a) to subscribe for additional Equity Interests or (b) to maintain or preserve such Person’s financial condition or to cause such Person to achieve any specified levels of operating results; and

(4)has not Guaranteed or otherwise directly or indirectly provided credit support for any Indebtedness of the Company or any of its Restricted Subsidiaries, except to the extent such Guarantee would be released upon such designation.

All Subsidiaries of an Unrestricted Subsidiary shall also be Unrestricted Subsidiaries.

“Volumetric Production Payments” means production payment obligations recorded as deferred revenue in accordance with the Trustee a copy of the board resolution giving effect to such designationGAAP, together with all undertakings and an Officers’ Certificate certifying that such designation complied with the foregoing provisions.

“U.S. Government Obligations” means direct obligations (or certificates representing an ownership interest in such obligations) of the United States of America (including any agency or instrumentality thereof) for the payment of which the full faith and credit of the United States of America is pledged and which are not callable at the issuer’s option.connection therewith.

“Voting Stock” of a Person means all classes of Capital Stock or other interests (including partnership interests) of such Person then outstanding and normally entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof.

“Wholly Owned Subsidiary” means a Restricted Subsidiary all the Capital Stock of which (other than directors’ qualifying shares and shares held by other Persons to the extent such shares are required by applicable law to be held by a Person other than the Company or a Restricted Subsidiary) is owned by the Company or one or more Wholly Owned Subsidiaries.

Book-Entry, Delivery and Form

Except as set forth below, Notes will be issued in registered, global form in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof.

The Notes initially will be represented by one or more notes in registered, global form without interest coupons (collectively, the “Global Notes”). The Global Notes will be deposited upon issuance with the Trustee as custodian for DTC, in New York, New York, and registered in the name of DTC or its nominee, in each case for credit to an account of a direct or indirect participant in DTC as described below.

Except as set forth below, the Global Notes may be transferred, in whole and not in part, only to another nominee of DTC or to a successor of DTC or its nominee. Beneficial interests in the Global Notes may be exchanged for Notes in certificated form. See “—Exchange of Global Notes for Certificated Notes.” In addition, transfers of beneficial interests in the Global Notes will be subject to the applicable rules and procedures of DTC and its direct or indirect participants (including, if applicable, those of Euroclear and Clearstream), which may change from time to time.

Depository Procedures

The following description of the operations and procedures of DTC, Euroclear and Clearstream are provided solely as a matter of convenience. These operations and procedures are solely within the control of the respective settlement systems and are subject to changes by them. CONSOL Energy takes no responsibility for these operations and procedures and urges investors to contact the system or their participants directly to discuss these matters.

DTC has advised us that DTC is a limited-purpose trust company organized under the laws of the State of New York, a “banking organization” within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the Uniform Commercial Code and a “clearing agency” registered pursuant to the provisions of Section 17A of the Exchange Act. DTC was created to hold securities for its participating organizations (collectively, the “Participants”) and to facilitate the clearance and settlement of transactions in those securities between Participants through electronic book-entry changes in accounts of its Participants. The Participants include securities brokers and dealers (including the Initial Purchasers), banks, trust companies, clearing corporations and certain other organizations. Access to DTC’s system is also available to other entities such as banks, brokers, dealers and trust companies that clear through or maintain a custodial relationship with a Participant, either directly or indirectly (collectively, the “Indirect Participants”). Persons who are not Participants may beneficially own securities held by or on behalf of DTC only through the Participants or the Indirect Participants. The ownership interests in, and transfers of ownership interests in, each security held by or on behalf of DTC are recorded on the records of the Participants and Indirect Participants.

DTC has also advised us that, pursuant to procedures established by it:

(1) upon deposit of the Global Notes, DTC will credit the accounts of Participants with portions of the principal amount of the Global Notes; and

(2) ownership of these interests in the Global Notes will be shown on, and the transfer of ownership thereof will be effected only through, records maintained by DTC (with respect to the Participants) or by the Participants and the Indirect Participants (with respect to other owners of beneficial interest in the Global Notes).

Investors in the Global Notes who are Participants in DTC’s system may hold their interests therein directly through DTC. Investors in the Global Notes who are not Participants may hold their interests therein indirectly through organizations (including Euroclear and Clearstream) which are Participants in such system. All interests in a Global Note may be subject to the procedures and requirements of DTC. The laws of some states require that certain Persons take physical delivery in definitive form of securities that they own. Consequently, the ability to transfer beneficial interests in a Global Note to such Persons will be limited to that extent. Because DTC can act only on behalf of participants, which in turn act on behalf of indirect participants, the ability of a Person having beneficial interests in a Global Note to pledge such interests to Persons that do not participate in the DTC system, or otherwise take actions in respect of such interests, may be affected by the lack of a physical certificate evidencing such interests.

Except as described below, owners of interests in the Global Notes will not have Notes registered in their names, will not receive physical delivery of Notes in certificated form and will not be considered the registered owners or “Holders” thereof under the Indenture for any purpose.

Payments in respect of the principal of, and interest and premium, if any, on a Global Note registered in the name of DTC or its nominee will be payable to DTC in its capacity as the registered Holder under the Indenture. Under the terms of the Indenture, CONSOL Energy and the applicable Trustee will treat the Persons in whose names the Notes, including the Global Notes, are registered as the owners thereof for the purpose of receiving payments and for all other purposes. Consequently, neither CONSOL Energy, the Trustee nor any agent of CONSOL Energy or the Trustee has or will have any responsibility or liability for:

(1) any aspect of DTC’s records or any Participant’s or Indirect Participant’s records relating to or payments made on account of beneficial ownership interest in the Global Notes or for maintaining,

supervising or reviewing any of DTC’s records or any Participant’s or Indirect Participant’s records relating to the beneficial ownership interests in the Global Notes; or

(2) any other matter relating to the actions and practices of DTC or any of its Participants or Indirect Participants.

DTC has advised CONSOL Energy that its current practice, upon receipt of any payment in respect of securities such as the Notes (including principal and interest), is to credit the accounts of the relevant Participants with the payment on the payment date unless DTC has reason to believe it will not receive payment on such payment date. Each relevant Participant is credited with an amount proportionate to its beneficial ownership of an interest in the principal amount of the relevant security as shown on the records of DTC. Payments by the Participants and the Indirect Participants to the beneficial owners of Notes will be governed by standing instructions and customary practices and will be the responsibility of the Participants or the Indirect Participants and will not be the responsibility of DTC, the Trustee or CONSOL Energy. Neither CONSOL Energy nor the Trustee will be liable for any delay by DTC or any of its Participants in identifying the beneficial owners of the Notes, and CONSOL Energy and the Trustee may conclusively rely on and will be protected in relying on instructions from DTC or its nominee for all purposes.

Transfers between Participants in DTC will be effected in accordance with DTC’s procedures, and will be settled in same-day funds.

DTC has advised CONSOL Energy that it will take any action permitted to be taken by a Holder of Notes only at the direction of one or more Participants to whose account DTC has credited the interests in the Global Notes and only in respect of such portion of the aggregate principal amount of the Notes as to which such Participant or Participants has or have given such direction. However, if there is an Event of Default under the Notes, DTC reserves the right to exchange the Global Notes for legended Notes in certificated form, and to distribute such Notes to its Participants.

Although DTC has agreed to the foregoing procedures to facilitate transfers of interests in the Global Notes among participants in DTC, it is under no obligation to perform or to continue to perform such procedures, and may discontinue such procedures at any time. Neither CONSOL Energy nor the Trustee nor any of their respective agents will have any responsibility for the performance by DTC or its participants or indirect participants of their respective obligations under the rules and procedures governing their operations.

Exchange of Global Notes for Certificated Notes

A Global Note is exchangeable for definitive Notes in registered certificated form (“Certificated Notes”) if:

(1) DTC (a) notifies CONSOL Energy that it is unwilling or unable to continue as depositary for the Global Notes or (b) has ceased to be a clearing agency registered under the Exchange Act, and in each case CONSOL Energy fails to appoint a successor depositary;

(2) CONSOL Energy, at its option, notifies the Trustee in writing that it elects to cause the issuance of Certificated Notes (DTC has advised CONSOL Energy that, in such event, under its current practices, DTC would notify its participants of CONSOL Energy’s request, but will only withdraw beneficial interests from a Global Note at the request of each DTC participant); or

(3) there will have occurred and be continuing a Default or Event of Default with respect to the Notes.

In addition, beneficial interests in a Global Note may be exchanged for Certificated Notes upon prior written notice given to the Trustee by or on behalf of DTC in accordance with the Indenture. In all cases, Certificated Notes delivered in exchange for any Global Note or beneficial interests in Global Notes will be registered in the names, and issued in any approved denominations, requested by or on behalf of the depositary (in accordance with its customary procedures).

Exchange of Certificated Notes for Global Notes

Certificated Notes may not be exchanged for beneficial interests in any Global Note unless the transferor first delivers to the Trustee a written certificate (in the form provided in the Indenture) to the effect that such transfer will comply with the appropriate transfer restrictions applicable to such Notes.

MATERIAL UNITED STATES FEDERAL INCOME TAX CONSEQUENCES

TO ENSURE COMPLIANCE WITH TREASURY DEPARTMENT CIRCULAR 230, HOLDERS ARE HEREBY NOTIFIED THAT: (I) ANY DISCUSSION OF FEDERAL TAX CONSEQUENCES CONTAINED OR REFERRED TO IN THIS PROSPECTUS WAS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, BY HOLDERS FOR THE PURPOSE OF AVOIDING PENALTIES THAT MAY BE IMPOSED ON THEM UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”); (II) SUCH DISCUSSION WAS WRITTEN IN CONNECTION WITH THE PROMOTION OR MARKETING OF THE TRANSACTIONS OR MATTERS ADDRESSED HEREIN; AND (III) HOLDERS SHOULD SEEK ADVICE BASED ON THEIR PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR.

The following is a summary ofdiscussion summarizes the material United StatesU.S. federal income tax consequences relating toof the exchange of the originalold notes for exchangethe new notes inpursuant to the exchange offer, but does not purport to be a complete analysis of all the potential tax considerationseffects relating thereto. The effects of other U.S. federal tax laws, such as estate and gift tax laws, and any applicable state, local or foreign tax laws are not discussed. This summarydiscussion is based uponon the U.S. Internal Revenue Code of 1986, as amended (the “Code”), Treasury Regulations promulgated thereunder, judicial decisions, and published rulings and administrative pronouncements of the U.S. Internal Revenue Services (“IRS”Service (the “IRS”) rulings and pronouncements, and judicial decisions now, in each case in effect allas of which arethe date hereof. These authorities may change or be subject to differing interpretations. Any such change at any time by legislative, administrative, or judicial action, possibly with retroactive effect.differing interpretation may be applied retroactively in a manner that could adversely affect a holder of the notes. We have not sought and will not seek any rulings from the IRS with respect toregarding the statements made and the conclusions reached in the following summary, and accordingly, therematters discussed below. There can be no assurance that the IRS or a court will not successfully challengetake a contrary position to that discussed below regarding the tax consequences described below.

This summary only applies to you if youof the exchange your originalof the old notes for exchangethe new notes inpursuant to the exchange offer.

This summary only applies to U.S. Holders that exchange original notes for exchange notes in the exchange offer. This summary is limited to tax consequences to U.S. Holders that are original beneficial owners of the original notes, that purchased original notes at their original issue price for cash and that hold such original notes as capital assets within the meaning of Section 1221 of the Code. This summarydiscussion does not address the tax consequences to subsequent purchasers of the original notes or the exchange notes. This summary also does not discuss the effect of any state, local, foreign or other tax laws or any U.S. federal estate, gift or alternative minimum tax considerations. In addition, this summary does not describe every aspect ofall U.S. federal income taxation that may betax consequences relevant to you in light of youra holder’s particular circumstances or if you arecircumstances. In addition, it does not address consequences relevant to holders subject to special tax rules, including, without limitation, if you are:limitation:

 

a bank;

U.S. expatriates and former citizens or long-term residents of the United States;

 

a financial institution;

persons subject to the alternative minimum tax;

 

a broker or dealerUnited States persons (as defined in securities or currencies;

a trader in securities that elects to use a mark-to-market method of accounting for securities holdings;

an insurance company;

a personthe Code) whose functional currency is not the U.S. dollar;

 

a tax-exempt organization;

an investor in a pass-through entitypersons holding the notes;

an S corporation, a partnership or other entity treated as a partnership for tax purposes;

a U.S. expatriate;

a person holding notes as part of a hedging, conversionhedge, straddle or other risk-reductionrisk reduction strategy or as part of a conversion transaction or a straddle for tax purposes; or

other integrated investment;

 

banks, insurance companies, and other financial institutions;

a

real estate investment trusts or regulated investment companies;

brokers, dealers or traders in securities;

“controlled foreign personcorporations,” “passive foreign investment companies,” and corporations that accumulate earnings to avoid U.S. federal income tax;

S corporations, partnerships or entity.other entities or arrangements treated as partnerships for U.S. federal income tax purposes (and investors therein);

tax-exempt organizations or governmental organizations; and

persons deemed to sell the notes under the constructive sale provisions of the Code.

YOU ARE URGED TOTHIS DISCUSSION IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TAX ADVICE. INVESTORS SHOULD CONSULT YOURTHEIR TAX ADVISORADVISORS WITH RESPECT TO THE APPLICATION OF THE UNITED STATESU.S. FEDERAL INCOME TAX LAWS TO YOURTHEIR PARTICULAR SITUATIONSITUATIONS AS WELL AS ANY TAX CONSEQUENCES OF THE EXCHANGE OF THE OLD NOTES FOR THE NEW NOTES ARISING UNDER THEOTHER U.S. FEDERAL TAX LAWS (INCLUDING ESTATE AND GIFT OR ALTERNATIVE MINIMUM TAX RULES ORLAWS), UNDER THE LAWS OF ANY STATE, LOCAL FOREIGN OR OTHERNON-U.S. TAXING JURISDICTION OR UNDER ANY APPLICABLE TAX TREATY.

For purposes of this summary, a “U.S. Holder” is a beneficial owner of an exchange note that is, for United States federal income tax purposes, (i) an individual who is a citizen or resident of the United States, (ii) a corporation or other entity treated as a corporation for United States federal income tax purposes, created in or organized under the law of the United States or any state or political subdivision thereof, (iii) an estate the income of which is includible in gross income for United States federal income tax purposes regardless of its source, or (iv) a trust (A) the administration of which is subjectExchange Pursuant to the primary supervision of a United States court and with respect to which one or more United States persons have the authority to control all substantial decisions of the trust or (B) that has in effect a valid election under applicable United States Treasury regulations to be treated as a United States person. If a partnership (including any entity or arrangement treated as a partnership for United States federal income tax purposes) is a beneficial owner of exchange notes, the treatment of a partner in the partnership generally will depend upon the status of the partner and the activities of the partnership. A holder of exchange notes that is a partnership and partners in such a partnership should consult their tax advisors regarding the United States federal, state, local and foreign income and other tax consequences of the exchange offer and of the holding and disposing of exchange notes.Exchange Offer

The exchange of the originalold notes for the exchangenew notes inpursuant to the exchange offer shouldwill not constitute a taxable exchangebe treated as an “exchange” for United StatesU.S. federal income tax purposes, because the exchangenew notes shouldwill not be considered to differ materially in kind or extent from the originalold notes. AsAccordingly, the exchange of old notes for new notes will not be a result,taxable event to

holders for United StatesU.S. federal income tax purposes (1) you should not recognize any income, gain or loss as a result of exchangingpurposes. Moreover, the originalnew notes for the exchange notes; (2) the holding period of the exchange notes should include the holding period of the original notes exchanged therefor; and (3) the adjusted tax basis of the exchange notes should bewill have the same tax attributes as the adjusted tax basis of the originalold notes exchanged therefor immediately before such exchange.and the same tax consequences to holders as the old notes have to holders, including without limitation, the same issue price, tax basis and holding period.

PLAN OF DISTRIBUTION

Based on interpretations by the staff of the SEC in no-action letters issued to third parties, we believe that you may transfer new notes issued in the exchange offer in exchange for the old notes if:

you acquire the new notes in the ordinary course of your business; and

you are not engaged in, and do not intend to engage in, and have no arrangement or understanding with any person to participate in, a distribution of such new notes.

You may not participate in the exchange offer if you are:

an “affiliate” of ours within the meaning of Rule 405 under the Securities Act; or

a broker-dealer that acquired old notes directly from us.

Each broker-dealer that receives exchangenew notes for its own account pursuant to the exchange offer must acknowledge that it will deliver athis prospectus in connection with any resale of such new notes. To date, the staff of the SEC has taken the position that broker-dealers may fulfill their prospectus delivery requirements with respect to transactions involving an exchange notes. Thisof securities such as this exchange offer, other than a resale of an unsold allotment from the original sale of the old notes, with the prospectus contained in the registration statement relating to the exchange offer. On this basis, this prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer forin connection with resales of exchangenew notes received in exchange for originalold notes where such originalold notes were acquired as a result of market-making activities or other trading activities. We and the subsidiary guarantors have agreed that, starting on the expiration date and ending on the closefor a period of businessup to 180 days after the expirationexchange date (as such period may be extended), we will make this prospectus, as amended andor supplemented, available to any broker-dealer for use in connection with any such resale. In addition, until , 2011,such date, all dealers effecting transactions in the exchangenew notes may be required to deliver athis prospectus.

Neither we norIf you wish to exchange new notes for your old notes in the subsidiary guarantorsexchange offer, you will be required to make representations to us as described in “Exchange Offer—Procedures for Tendering—Your Representations to Us” in this prospectus. As indicated in the letter of transmittal, you will be deemed to have made these representations by tendering your old notes in the exchange offer. In addition, if you are a broker-dealer who receives new notes for your own account in exchange for old notes that were acquired by you as a result of market-making activities or other trading activities, you will be required to acknowledge, in the same manner, that you will deliver this prospectus in connection with any resale by you of such new notes.

We will not receive any proceeds from any sale of exchangenew notes by broker-dealers. ExchangeNew notes received by broker-dealers for their own account pursuant to the exchange offer may be sold from time to time in one or more transactions transactions:

in the over-the-counter market, market;

in negotiated transactions, transactions;

through the writing of options on the exchange notes or new notes;

a combination of such methods of resale,resale; at market prices prevailing at the time of resale, resale;

at prices related to such prevailing market pricesprices; or,

at negotiated prices.

Any such resale may be made directly to purchasers or to or through brokers or dealers who may receive compensation in the form of commissions or concessions from the sellingany such broker-dealer or the purchasers of any such exchangenew notes. Any broker-dealer that resells exchangenew notes of any series that were received by it for its own

account pursuant to the exchange offer and any broker or dealer that participates in a distribution of such exchangenew notes may be deemed to be an “underwriter” within the meaning of the Securities Act and any profit of any such resale of exchange notes and any commissions or concessions received by any such persons may be deemed to be underwriting compensation under the Securities Act. The letter of transmittal states that by acknowledging that it will deliver and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the meaning of the Securities Act.

For a period of up to 180 days after the expirationexchange date (as such period may be extended), we and the subsidiary guarantors will promptly send additional copies of this prospectus and any amendment or supplement to this prospectus to any broker-dealer that requests such documents in the manner indicated in the letter of transmittal. We and the subsidiary guarantors have agreed to pay all reasonable expenses incidental to the exchange offer (including the expenses of one counsel for the holderholders of the originalold notes) other than commissions andor concessions of any brokers or dealers and certain transfer taxesbroker-dealers and will indemnify the holders of the originalold notes (including any broker-dealers) against certain liabilities, including liabilities under the Securities Act.

Under existing interpretations of the Securities Act by the SEC’s staff contained in several no-action letters to third parties, and subject to the immediately following sentence, we believe that the exchange notes would generally be freely transferable by holders after the exchange offer without further registration under the Securities Act, subject to certain representations required to be made by each holder of exchange notes, as set forth below. However, any purchaser of exchange notes who is one of our “affiliates” (as defined in Rule 405 under the Securities Act) or who intends to participate in the exchange offer for the purpose of distributing the exchange notes:

will not be able to rely on the applicable interpretation of the staff of the SEC;

will not be able to tender its original notes in the exchange offer; and

must comply with the registration and prospectus delivery requirements of the Securities Act in connection with any sale or transfer of the notes unless such sale or transfer is made pursuant to an exemption from such requirements.

We do not intend to seek our own interpretation regarding the exchange offer and there can be no assurance that the SEC’s staff would make a similar determination with respect to the exchange notes as it has in other interpretations to other parties, although we have no reason to believe otherwise.

LEGAL MATTERS

The validity of the new notes offered in this exchange offer will be passed upon for us by Latham & Watkins LLP, Houston, Texas. Buchanan Ingersoll & Rooney PC Pittsburgh, Pennsylvania, will pass upon the validity of the exchange notes and the guarantees.certain matters related to Pennsylvania law. McGuire Woods LLP will pass upon certain matters related to Virginia law. Steptoe & Johnson PLLC will pass upon certain matters related to West Virginia law. Thompson Hine LLP will pass upon certain matters related to Ohio law. Wagner, Myers & Sanger, P.C. will pass upon certain matters related to Tennessee law. Thompson Hine LLP will pass upon certain matters related to Ohio law. Steptoe & Johnson PLLC will pass upon certain matters related to West Virginia law.

EXPERTS

The consolidated financial statements of CONSOL Energy Inc. and Subsidiaries at December 31, 2010, 2009 and 2008, and for the years then ended, incorporated by referenceits subsidiaries appearing in this Prospectus and Registration Statement from CONSOL Energy Inc.’s Annual Report (Form 10-K) for the year ended December 31, 2014 (including the schedule appearing therein), and the effectiveness of CONSOL Energy Inc.’s internal control over financial reporting as of December 31, 2010, incorporated by reference in this Prospectus and Registration Statement from CONSOL Energy Inc.’s Annual Report (Form 10-K),2014, have been audited by Ernst & Young LLP, independent registered public accounting firm, as set forth in itstheir reports thereon, included therein, and incorporated herein by reference. Such consolidated financial statements are incorporated herein by reference herein, and are included in reliance upon such reports given on the authority of such firm as experts in accounting and auditing.

The combined financial statementsinformation included in this prospectus regarding estimated quantities of proved reserves, the Dominion E&P Businessfuture net revenues from those reserves and their present value as of December 31, 2009 and 2008, and for each of2014 is based on the three years in the period ended December 31, 2009, incorporated by reference in this prospectus have been audited by Deloitte & Touche LLP, independent auditors, as stated in their report (which report expresses an unqualified opinion and includes an explanatory paragraph relating to the adoption of new accounting standards), and are incorporated by reference in reliance upon the report of such firm given upon their authority as experts in accounting and auditing.

The information included and incorporated by reference in this prospectus relating to the proved reserves of gas and oil (including coal bed methane) of CONSOL Energy as of December 31, 2008, 2007 and 2006 is derived from reserve reportsaudit letter prepared or reviewed by Schlumberger Data and Consulting Services. The information included and incorporated by reference in this prospectus supplement relating to the proved reserves of gas and oil (including coal bed methane) of CONSOL Energy, as of December 31, 2010 and 2009, is derived from internal estimates, which estimates were audited by Netherland, Sewell & Associates, Inc., our independent petroleum engineers. This information is included and incorporated by reference in this prospectus in reliance upon the authority of such firm as an expert in these firmsmatters.

The information included in this prospectus regarding estimated proven and probable quantities of coal reserves as expertsof December 31, 2014 is based on the audit letter prepared by Golder Associates Inc., independent mining engineers and geologists. This information is included in matters containedthis prospectus in reliance upon the reports.

authority of such firm as an expert in these matters.

WHERE YOU CAN FIND MORE INFORMATIONINFORMATION; INCORPORATION BY REFERENCE

We file annual, quarterly, and current reports, proxy statements and other informationreports with the SEC under the Exchange Act. You may inspect without chargeread and copy any documents filed by usdocument we file with the SEC at the SEC’s public reference room at 100 F Street, N.E., Room 1580, Washington, D.C. 20549. You may obtainPlease call the SEC at 1-800-SEC-0330 for further information on the operation ofabout the public reference room by callingroom. Our SEC filings are also available to the SECpublic through the SEC’s website at 1-800-SEC-0330. The SECwww.sec.gov. You can also maintains an Internet site,www.sec.gov, that contains reports, proxy andobtain information statements, and other information regarding issuers that file electronically with the SEC, including CONSOL Energy Inc. Our common stock is traded on the New York Stock Exchange. You may also inspect the information we file with the SECabout us at the New York Stock Exchange’s offices atof the NYSE, 20 Broad Street, New York, NYNew York 10005.

Our internet address is www.consolenergy.com. Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the SEC are available, free of charge, through our website, as soon as reasonably practicable after those reports or filings are electronically filed with or furnished to the SEC. Information about us is also available atwww.consolenergy.com. The information on our Internet sitewebsite or any other website is not aincorporated by reference into this prospectus and you should not consider information contained on our website as part of this prospectus.

We are “incorporating“incorporate by reference” information into this prospectus, the information we file with the SEC. Thiswhich means that we are disclosingdisclose important information to you by referring you to these documentsanother document filed separately with the SEC. The information incorporated by reference is considereddeemed to be part of this prospectus, andexcept for any information filed withsuperseded by information contained expressly in this prospectus. You should not assume that the SEC subsequent toinformation in this prospectus and prior tois current as of the terminationdate other than the date on the cover page of this exchange offer will automatically be deemed to update and supersede this information. prospectus.

We incorporate by reference intoin this prospectus the documents listed below and any filing thatsubsequent filings we will make with the SEC in the future under SectionSections 13(a), 13(c), 14 or 15(d) of the Exchange Act including such documents(excluding information deemed to be furnished and not filed with the SEC by us afterSEC) until all offerings under the dateregistration statement of which this prospectus and prior to the time we complete the exchange offer (excluding any portions of such documents that have been “furnished” but not “filed” for purposes of the Exchange Act):forms a part are completed or terminated:

 

Ourour Annual Report on Form 10-K for the year ended December 31, 2010;2014, as filed with the SEC on February 6, 2015;

Ourour Quarterly Report on Form 10-Q for the quartersquarterly period ended March 31, 2011 and June 30, 2011;

2015, as filed with the SEC on May 5, 2015;

 

The Currentour Quarterly Report on Form 8-K10-Q for the quarterly period ended June 30, 2015, as filed with the SEC on March 22, 2010 (but dated March 19, 2010) related to the financial statements of the Dominion E&P Business;

July 31, 2015;

 

our Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2015, as filed with the SEC on November 3, 2015;

The following

our Current Reports on Form 8-K as filed after December 31, 2010: our Form 8-Ks filedwith the SEC on January 14, 2011,30, 2015, March 1, 2011, March 3, 2011, March 11, 2011 (as amend on March 17, 2011),30, 2015, April 14, 2011, April 18, 2011,28, 2015, May 6, 2011, June 29, 20112015, May 26, 2015, July 13, 2015, July 21, 2015, July 28, 2015 and July 26, 2011;October 27, 2015 (excluding any information furnished pursuant to Item 2.02 or Item 7.01 of any such Current Report on Form 8-K); and

 

Thethe portions of our Definitive Proxy Statement on Schedule 14A, as filed with the SEC on April 25, 2015, that are deemed “filed” with the SEC under the Exchange Act, as filed on March 28, 2011.

Act.

Any statement or information contained in thoseWe are also incorporating by reference all additional documents shall be deemed to be modified or superseded to the extent a statement or information included in this prospectus modifies or supersedes such statement or information. Any such statement or information so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this prospectus. Any future filings made by uswe may file with the SEC (excluding those filings made under Items 2.02 or 7.01 of Form 8-K or other information “furnished” to the SEC) under Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act, of 1934 (i) after the date of the initial registration statementhereof and prior to the effectiveness of the registration statement and (ii) after the date of which this prospectus forms a part.

You may request a copy of any document incorporated by reference in this prospectus and prior to the termination of this offering, will also be deemed to beany exhibit specifically incorporated by reference and to be part of this prospectus from their dates of filing. Other than as expressly stated in this paragraph, none of our reports, proxy statements and other information filed,those documents, at no cost, by writing or that we may file, withtelephoning us at the SEC is incorporated by reference herein.following address or phone number:

CNX Center

1000 CONSOL Energy Drive

Canonsburg, PA 15317-6505

Attention: Stephen W. Johnson

Telephone: 724-485-4000

ANNEX A

LETTER OF TRANSMITTAL

TO TENDER

8.000% SENIOR NOTES DUE 2023

(CUSIP NOS. 20854P AM1 AND U20892 AF9)

OF

CONSOL ENERGY INC.

PURSUANT TO THE EXCHANGE OFFER AND PROSPECTUS

DATED                     , 2015

THE EXCHANGE OFFER AND WITHDRAWAL RIGHTS WILL EXPIRE AT 5:00 P.M., NEW YORK CITY TIME, ON                     (THE “EXPIRATION DATE”), UNLESS THE EXCHANGE OFFER IS EXTENDED BY THE ISSUER.

The Exchange Agent for the Exchange Offer is:

Wells Fargo Bank National Association

By Registered & Certified Mail:

Wells Fargo Bank, N.A.

Corporate Trust Operations

MAC N9303-121

P.O. Box 1517

Minneapolis, MN 55480

By Regular Mail or Courier:

Wells Fargo Bank, N.A.

Corporate Trust Operations

MAC N9303-121

6th St & Marquette Avenue

Minneapolis, MN 55479

In Person by Hand Only:

Wells Fargo Bank, N.A.

Corporate Trust Operations

Northstar East Building—12th Floor

608 Second Avenue South

Minneapolis, MN 55402

For Facsimile Transmission (eligible institutions only):

(877) 407-4679

Attn: Specialized Finance

For additional questions please call:

(800) 344-5128

If you wish to Exchange

$250,000,000exchange your issued and outstanding 8.000% Senior Notes due 2023 (the “Old Notes”) for an equal aggregate principal amount of 6.375%newly issued 8.000% Senior Notes Due 2021

for

$250,000,000 aggregate principal amount of 6.375% Senior Notes Due 2021

due 2023 with materially identical terms that have been registered under the Securities Act of 1933, as amended

The (the “Securities Act”), pursuant to the exchange offer will expire(the “New Notes”), you must validly tender (and not withdraw) your Old Notes to the Exchange Agent prior to the Expiration Date by causing an agent’s message (as defined below) to be received by the Exchange Agent prior to such time.

We refer you to the Prospectus, dated                     , 2015 (the “Prospectus”), of CONSOL Energy Inc. (the “Issuer”), and this Letter of Transmittal (the “Letter of Transmittal”), which together describe the Issuer’s offer to exchange its Old Notes for a like aggregate principal amount of New Notes (the “Exchange Offer”). Capitalized terms used but not defined herein have the respective meanings given to them in the Prospectus.

The Issuer reserves the right, at 5:any time or from time to time, to extend the Exchange Offer at its discretion, in which event the term “Expiration Date” shall mean the latest date to which the Exchange Offer is extended. The Issuer shall notify the Exchange Agent and each registered holder of Old Notes of any extension by oral (promptly followed in writing) or written notice prior to 9:00 p.m.a.m.,

New York City time, on , 2011, unless earlier terminated or extended.the next business day after the previously scheduled Expiration Date.

This Letter of Transmittal is to be used by holders of the Old Notes. Tender of Old Notes is to be made according to the Automated Tender Offer Program (“ATOP”) of The Depository Trust Company (“DTC”) pursuant to the procedures set forth in the Prospectus under the caption “Exchange Offer—Procedures for Tendering.” DTC participants that are accepting the Exchange Offer must transmit their acceptance to DTC, which will verify the acceptance and execute a book-entry delivery to the Exchange Agent’s DTC account. DTC will then send a computer generated message known as an “agent’s message” to the Exchange Agent for its acceptance. For you to validly tender your Old Notes in the Exchange Offer, the Exchange Agent must receive, prior to the Expiration Date, an agent’s message under the ATOP procedures that confirms that:

 

DTC has received your instructions to tender your Old Notes; and

 

you agree to be bound by the terms of this Letter of Transmittal.

PROSPECTUSIMPORTANT: BY USING THE ATOP PROCEDURES TO TENDER OLD NOTES, YOU WILL NOT BE REQUIRED TO DELIVER THIS LETTER OF TRANSMITTAL TO THE EXCHANGE AGENT. HOWEVER, YOU WILL BE BOUND BY ITS TERMS, AND YOU WILL BE DEEMED TO HAVE MADE THE ACKNOWLEDGMENTS AND THE REPRESENTATIONS AND WARRANTIES IT CONTAINS, JUST AS IF YOU HAD SIGNED IT.

PLEASE READ THE ACCOMPANYING INSTRUCTIONS CAREFULLY.

Ladies and Gentlemen:

 

1.By tendering Old Notes in the Exchange Offer, you acknowledge receipt of the Prospectus and this Letter of Transmittal.

 

2.By tendering Old Notes in the Exchange Offer, you represent and warrant that you have full authority to tender the Old Notes described above and will, upon request, execute and deliver any additional documents deemed by the Issuer to be necessary or desirable to complete the tender of Old Notes.

3.You understand that the tender of the Old Notes pursuant to all of the procedures set forth in the Prospectus will constitute an agreement between you and the Issuer as to the terms and conditions set forth in the Prospectus.

4.By tendering Old Notes in the Exchange Offer, you acknowledge that the Exchange Offer is being made in reliance upon interpretations contained in no-action letters issued to third parties by the staff of the Securities and Exchange Commission (the “SEC”), including Exxon Capital Holdings Corp., SEC No-Action Letter (May 13, 1988), Morgan Stanley & Co., Inc., SEC No-Action Letter (June 5, 1991) and Shearman & Sterling, SEC No-Action Letter (July 2, 1993), that the New Notes issued in exchange for the Old Notes pursuant to the Exchange Offer may be offered for resale, resold and otherwise transferred by holders thereof without compliance with the registration and prospectus delivery provisions of the Securities Act of 1933, as amended (the “Securities Act”) (other than a broker-dealer who purchased Old Notes exchanged for such New Notes directly from the Issuer to resell pursuant to Rule 144A or any other available exemption under the Securities Act and any such holder that is an “affiliate” of the Issuer within the meaning of Rule 405 under the Securities Act), provided that such New Notes are acquired in the ordinary course of such holders’ business and such holders are not participating in, and have no arrangement with any other person to participate in, the distribution of such New Notes.

5.By tendering Old Notes in the Exchange Offer, you hereby represent and warrant that:

(a)the New Notes acquired pursuant to the Exchange Offer are being obtained in the ordinary course of your business, whether or not you are the holder;

(b)you are not engaging, do not intend to engage and have no arrangement or understanding with any person to participate in the distribution of Old Notes or New Notes within the meaning of the Securities Act;

(c)you are not an “affiliate,” as such term is defined under Rule 405 promulgated under the Securities Act, of the Issuer or the Guarantors (as defined below);

(d)if you are a broker-dealer, that you will receive the New Notes for your own account in exchange for Old Notes that were acquired as a result of market-making activities or other trading activities and that you acknowledge that you will deliver a prospectus (or, to the extent permitted by law, make available a prospectus) in connection with any resale of such New Notes and that you cannot rely on the position of the staff of the SEC set forth in certain no-action letters; and

(e)you understand that a secondary resale transaction described in clause 5(d) above and any resales of the New Notes obtained in exchange for the Old Notes originally acquired from the Issuer should be covered by an effective registration statement containing the selling noteholder information required by Item 507 or Item 508, as applicable, of Regulation S-K.

You may, if you are unable to make all of the representations and warranties contained in Item 5 above and as otherwise permitted in the Registration Rights Agreement (as defined below), 2011elect to have your Old Notes registered in a shelf registration statement as described in the Registration Rights Agreement, dated March 30, 2015 (the “Registration Rights Agreement”) by and among the Issuer, the Guarantors named therein (the “Guarantors”) and the Initial Purchasers named therein (the “Initial Purchasers”). Such

DEALER PROSPECTUS DELIVERY OBLIGATION

election may be made by notifying the Issuer in writing at CONSOL Energy Inc., 1000 CONSOL Energy Drive, Canonsburg, PA 15317, Attention: Stephen W. Johnson. By making such election, you agree, as a holder of Old Notes participating in a shelf registration, to indemnify and hold harmless the Issuer, the Guarantors and the respective directors and officers of the Issuer and the Guarantors who sign such registration statement, and any person controlling (within the meaning of Section 15 of the Securities Act or Section 20 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) the Issuer or any of the Guarantors, and the respective officers, directors, partners, employees, representatives and agents of each such person, from and against any and all losses, claims, damages, liabilities, judgments, actions and expenses (including, without limitation, and as incurred, reimbursement of all reasonable costs of investigating, preparing, pursuing, settling, compromising, paying or defending any claim or action, or any investigation or proceeding by any governmental agency or body, commenced or threatened, including the reasonable fees and expenses of counsel to any such indemnified holder of Old Notes), joint or several, directly or indirectly caused by, related to, based upon, arising out of or in connection with any untrue statement or alleged untrue statement of a material fact contained in any registration statement or prospectus (or any amendment or supplement thereto), or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, but only with respect to claims and actions based on information relating to you furnished in writing by you expressly for use in any registration statement or prospectus. Any such indemnification shall be governed by the terms and subject to the conditions set forth in the Registration Rights Agreement, including, without limitation, the provisions regarding notice, retention of counsel, contribution and payment of expenses set forth therein. The above summary of the indemnification provision of the Registration Rights Agreement is not intended to be exhaustive and is qualified in its entirety by the full text of the Registration Rights Agreement.

6.If you are a broker-dealer that will receive New Notes for your own account in exchange for Old Notes that were acquired as a result of market-making activities or other trading activities, you acknowledge by tendering Old Notes in any Exchange Offer that you will deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of such New Notes; however, by so acknowledging and by delivering a prospectus, you will not be deemed to admit that you are an “underwriter” within the meaning of the Securities Act.

7.If you are a broker-dealer and Old Notes held for your own account were not acquired as a result of market-making or other trading activities, such Old Notes cannot be exchanged pursuant to any Exchange Offer.

8.Any of your obligations hereunder shall be binding upon your successors, assigns, executors, administrators, trustees in bankruptcy and legal and personal representatives.

INSTRUCTIONS FORMING PART OF THE TERMS AND CONDITIONS OF THE EXCHANGE OFFER

1.Book-Entry Confirmations.

Any confirmation of a book-entry transfer to the Exchange Agent’s account at DTC of Old Notes tendered by book-entry transfer (a “Book-Entry Confirmation”), as well as Agent’s Message and any other documents required by this Letter of Transmittal, must be received by the Exchange Agent at its address set forth herein prior to 5:00 p.m., New York City time, on the Expiration Date.

2.Partial Tenders.

Tenders of Old Notes will be accepted only in minimum denominations of $2,000 and integral multiples of $1,000 in excess thereof. The entire principal amount of Old Notes delivered to the Exchange Agent will be deemed to have been tendered unless otherwise communicated to the Exchange Agent. If the entire principal amount of all Old Notes is not tendered, then Old Notes for the principal amount of Old Notes not tendered and New Notes issued in exchange for any Old Notes accepted will be delivered to the holder via the facilities of DTC promptly after the Old Notes are accepted for exchange.

3.Validity of Tenders.

All questions as to the validity, form, eligibility (including time of receipt), acceptance, and withdrawal of tendered Old Notes will be determined by the Issuer, in its sole discretion, which determination will be final and binding. The Issuer reserves the absolute right to reject any or all tenders not in proper form or the acceptance for exchange of which may, in the opinion of counsel for the Issuer, be unlawful. The Issuer also reserves the absolute right to waive any of the conditions of the Exchange Offer or any defect or irregularity in the tender of any Old Notes. The Issuer’s interpretation of the terms and conditions of the Exchange Offer (including the instructions on the Letter of Transmittal) will be final and binding on all parties. Unless waived, any defects or irregularities in connection with tenders of Old Notes must be cured within such time as the Issuer shall determine. Although the Issuer intends to notify holders of defects or irregularities with respect to tenders of Old Notes, none of the Issuer, the Exchange Agent, or any other person shall be under any duty to give notification of any defects or irregularities in tenders or incur any liability for failure to give such notification. Tenders of Old Notes will not be deemed to have been made until such defects or irregularities have been cured or waived. Any Old Notes received by the Exchange Agent that are not properly tendered and as to which the defects or irregularities have not been cured or waived will be returned by the Exchange Agent to the tendering holders, unless otherwise provided in the Letter of Transmittal, promptly following the Expiration Date.

4.Waiver of Conditions.

The Issuer reserves the absolute right to waive, in whole or part, up to the expiration of the Exchange Offer, any of the conditions to the Exchange Offer set forth in the Prospectus or in this Letter of Transmittal.

5.No Conditional Tender.

No alternative, conditional, irregular or contingent tender of Old Notes will be accepted.

6.Request for Assistance or Additional Copies.

Requests for assistance or for additional copies of the Prospectus or this Letter of Transmittal may be directed to the Exchange Agent at the address or telephone number set forth on the cover page of this Letter of Transmittal. Holders may also contact their broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Exchange Offer.

7.Withdrawal.

Tenders may be withdrawn only pursuant to the limited withdrawal rights set forth in the Prospectus under the caption “Exchange Offer—Withdrawal of Tenders.”

8.No Guarantee of Late Delivery.

There is no procedure for guarantee of late delivery in the Exchange Offer.

IMPORTANT: BY USING THE ATOP PROCEDURES TO TENDER OLD NOTES, YOU WILL NOT BE REQUIRED TO DELIVER THIS LETTER OF TRANSMITTAL TO THE EXCHANGE AGENT. HOWEVER, YOU WILL BE BOUND BY ITS TERMS, AND YOU WILL BE DEEMED TO HAVE MADE THE ACKNOWLEDGMENTS AND THE REPRESENTATIONS AND WARRANTIES IT CONTAINS, JUST AS IF YOU HAD SIGNED IT.

LOGO

CONSOL Energy Inc.

Offer to Exchange

up to

$500,000,000 of 8.000% Senior Notes due 2023

that have been registered under the Securities Act of 1933

for

$500,000,000 of 8.000% Senior Notes due 2023

that have not been registered under the Securities Act of 1933

Until                     , 2011,2016, all dealers that effect transactions in these securities,the new notes, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to the dealers’ obligation to deliver a prospectus when acting as underwriters and with respect to their unsold allotment ofallotments or subscriptions.

 


PART IIII.

INFORMATION NOT REQUIRED IN PROSPECTUS

 

Item 20.Indemnification of Directors and Officers.Officers

The following summary is qualified in its entirety by reference to the complete text of any statutes referred to below and the restated certificate of incorporation and amended and restated by-laws of CONSOL Energy Inc., a Delaware corporation (“CONSOL Energy” or the “Company”), as well as the organizational documents of each of the other registrants.

Delaware Corporations

Section 145(a) of the Delaware General Corporation Law provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with such action, suit or proceeding if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had no reasonable cause to believe the person’s conduct was unlawful. The termination of any action, suit or proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that the person did not act in good faith and in a manner which the person reasonably believed to be in or not opposed to the best interests of the corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that the person’s conduct was unlawful.

Section 145(b) of the Delaware General Corporation Law states that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including attorneys’ fees) actually and reasonably incurred by the person in connection with the defense or settlement of such action or suit if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests of the corporation and except that no indemnification shall be made in respect of any claim, issue or matter as to which the person shall have been adjudged to be liable to the corporation unless and only to the extent that the Delaware Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnity for such expenses as the Delaware Court of Chancery or such other court shall deem proper.

Section 145(c) of the Delaware General Corporation Law provides that to the extent that a present or former director or officer of a corporation has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to in subsections (a) and (b) of Section 145, or in defense of any claim, issue or matter therein, such person shall be indemnified against expenses (including attorneys’ fees) actually and reasonably incurred by such person in connection therewith.

Section 145(d) of the Delaware General Corporation Law states that any indemnification under subsections (a) and (b) of Section 145 (unless ordered by a court) shall be made by the corporation only as authorized in the specific case upon a determination that indemnification of the present or former director, officer, employee or agent is proper in the circumstances because the person has met the applicable standard of conduct set forth in

 

II-1


subsections (a) and (b) of Section 145. Such determination shall be made with respect to a person who is a director or officer at the time of such determination (1) by a majority vote of the directors who are not parties to such action, suit or proceeding, even though less than a quorum, (2) by a committee of such directors designated by majority vote of such directors, even though less than a quorum, (3) if there are no such directors, or if such directors so direct, by independent legal counsel in a written opinion, or (4) by the stockholders.

Section 145(f) of the Delaware General Corporation Law states that the indemnification and advancement of expenses provided by, or granted pursuant to, the other subsections of Section 145 shall not be deemed exclusive of any other rights to which those seeking indemnification or advancement of expenses may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise, both as to action in such person’s official capacity and as to action in another capacity while holding such office.

Section 145(g) of the Delaware General Corporation Law provides that a corporation shall have the power to purchase and maintain insurance on behalf of any person who is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, against any liability asserted against such person and incurred by such person in any such capacity or arising out of such person’s status as such, whether or not the corporation would have the power to indemnify such person against such liability under the provisions of Section 145.

Section 145(j) of the Delaware General Corporation Law states that the indemnification and advancement of expenses provided by, or granted pursuant to, Section 145 shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director, officer, employee or agent and shall inure to the benefit of the heirs, executors and administrators of such a person.

In addition, Section 102(b)(7) of the Delaware General Corporation Law permits Delaware corporations to include a provision in their certificates of incorporation eliminating or limiting the personal liability of a director to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, provided that such provisions shall not eliminate or limit the liability of a director: (i) for any breach of the director’s duty of loyalty to the corporation or its stockholders; (ii) for acts or omissions not in good faith or that involve intentional misconduct or a knowing violation of law; (iii) for unlawful payment of dividends or unlawful stock purchases or redemptions; or (iv) for any transactions from which the director derived an improper personal benefit.

CONSOL Energy Inc.

CONSOL Energy’s By-laws also provide that any present director, officer, employee or agent of CONSOL Energy shall be indemnified by CONSOL Energy as of right to the full extent permitted by the Delaware General Corporation Law against any liability, cost or expense asserted against and incurred by such person by reason of his serving in such capacity. This right to indemnification included the right to be paid the expenses incurred in defending any action, suit or proceeding in advance of its final disposition. In addition, CONSOL has provided in its Restated Certificate of Incorporation that it shall eliminate the personal liability of its directors to the fullest extent permitted by the Delaware General Corporation Law. CONSOL maintains policies of directors’ and officers’ liability insurance which insures its directors against the cost of defense, settlement or payment of a judgment under certain circumstances.

CONSOL has also entered into agreements that provide for the indemnification by CONSOL of its directors, their executors, administrators or assigns for damages and expenses in connection with a threatened, pending or completed claim, action, or proceeding, whether brought by or in the right of CONSOL or by a third party or otherwise and whether of a civil, criminal, administrative or investigative nature, in which the director may be or may have been involved as a party or otherwise, by reason of the fact that the director is or was a director or officer of CONSOL, by reason of any actual or alleged error or misstatement or misleading statement

II-2


or omission made or suffered by the director, by reason of any action taken by or any inaction on the part of the director while acting as such director or officer, or by reason of the fact that the director was serving at the request of CONSOL as a director, trustee, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise, provided that a director acted in good faith and in a manner, which the director reasonably believed to be in or not opposed to the best interests of CONSOL, and, in the case of a criminal proceeding, in addition, had no reasonable cause to believe that his or her conduct was unlawful.

CNX Land Resources Inc., CNX Marine Terminals Inc., CONSOL Energy Sales Company, CONSOL Financial Inc., CONSOL of Kentucky Inc., Consolidation Coal Company, Island Creek Coal Company, McElroy Coal Company, MTB Inc., Reserve Coal Properties Company

II-2


The organizational documents of these entities contain provisions that state that the corporation will provide indemnification to the officers and directors of the corporation to extent permitted or authorized by the laws of Delaware.

CONSOL of Canada Inc. and Twin Rivers Towing Company

The organizational documents of these entities contain provisions that state that the corporation will provide indemnification to each director or officer or former director or officer, or any person who may have served at the Corporation’s request as director or officer of another corporation in which this corporation owns shares of capital stock or of which it is a creditor, against all expenses actually and reasonably incurred by such person in connection with the defense of any claim, action, suit or proceedings against such person, except if such person is adjudged to have been liable for negligence or misconduct in the performance of his duty as such director or officer.

CNX Gas Corporation

The organizational documents of this company contain provisions that state that the corporation will provide indemnification, to the maximum permitted by Delaware law, to each director or officer or former director or officer, or any person who may have served at the Corporation’s request as director or officer of another corporation in which this corporation owns shares of capital stock or of which it is a creditor, against all expenses reasonably incurred or suffered by such person in connection therewith.

TECPART Corporation

The organizational documents of this corporation provides that the corporation is obligated to indemnify any director or officer of the corporation, or a person that was serving at the request of the corporation as a director, officer, or employee of another corporation, if such person acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interest of the corporation.

Panda Bamboo Holdings, Inc. and Paros Corp.

The organizational documents of this corporation contains provisions that state that the corporation will provide indemnification, to the fullest extent permitted by law, to any director or officer of the corporation, or a person that was serving at the request of the corporation as a director or officer or trustee of another corporation or of a partnership, joint venture, trust or other enterprise, provided that the corporation shall indemnify such person seeking indemnification in connection with a proceeding initiated by such person only if such proceeding was authorized by the board of directors of the corporation.

Delaware Limited Liability Companies

Section 18-108 of the Delaware Limited Liability Company Act provides that subject to such standards and restrictions, if any, as set forth in its limited liability company agreement, a limited liability company may, and shall have the power to, indemnify and hold harmless any member or manager or other person from and against any and all claims and demands whatsoever.

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CONSOL Energy Holdings LLC VI

The managers and officers of the company are entitled to indemnification to the fullest extent permitted by applicable law. The company will indemnify such persons for any loss, damage or claim incurred by such person by reason of any act or omission performed or omitted by such person in good faith on behalf of the company.

CONSOL of Wyoming LLC

The organizational documents of this corporation provides that managers and officers will not be held liable if their actions were in good faith and in the best interests of the company.

CONSOLConsol Pennsylvania Coal Company LLC

The organizational documents provide that the company will indemnify member, directors and officers of the company against any liabilities, except where liability resulted from fraud, bad faith, willful misconduct, recklessness, gross negligence, improper personal benefit, and similar causes. The organizational documents also provide for the advancement of expenses when indemnification is provided.

CNX Land LLC, CNX RCPC LLC, CONSOL Mining Company LLC, CONSOL Mining Holding Company LLC, CONSOL Amonate Facility LLC, CONSOL Amonate Mining Company LLC and CONSOL Buchanan Mining Company LLC

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Ohio Corporations

Section 1701.13(E)The organizational documents provide that the company will indemnify the member and those authorized officers, agents and employees of the Ohio General Corporation Law (the “OGCL”) permits a corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, or is or was serving at the request of the corporation as a director or officer of another entity, because the person is or was a director or officer, against expenses, judgments, fines and amounts paidcompany identified in settlement actually and reasonably incurredwriting by the directormember as entitled to indemnification for all costs, losses, liabilities and damages paid or accrued by member or such officer, agent or employee in connection with the suit, action or proceeding if (i) the director or officer acted in good faith and in a manner the director or officer reasonably believed to be in or not opposed to the best interestsbusiness of the corporation, and (ii) with respect to any criminal action or proceeding, the director or officer had no reasonable cause to believe the director’s or officer’s conduct was unlawful. In the case of an action by or in the right of the corporation, however, such indemnification may only apply to expenses actually and reasonably incurred by the person in connection with the defense or settlement of such action and no such indemnification may be made if either (a) the director or officer has been adjudged to be liable for negligence or misconduct in the performance of the director’s or officer’s duty to the corporation, unless and onlycompany, except to the extent that the court in which the proceeding was brought determines that the director or officer is fairly and reasonably entitled to indemnification for such expenses as the court deems proper, or (b) the only liability asserted against a director in a proceeding relates to the director’s approval of an impermissible dividend, distribution, redemption or loan. The OGCL further provides that to the extent a director or officer has been successful on the merits or otherwise in defense of any action, suit or proceeding referred to above, the corporation must indemnify the director or officer against expenses actually and reasonably incurredprohibited by the director or officer in connection with the action, suit or proceeding.laws of Delaware.

The OGCL also permits corporations to purchase and maintain insurance on behalf of any director or officer against any liability asserted against such director or officer and incurred by such director or officer in his capacity as a director or officer, whether or not the corporation would have the power to indemnify the director or officer against such liability under the OGCL.

Central Ohio Coal Company

The organizational documents also provide that indemnification will be provided to the fullest extent permitted by law.

Ohio Limited Liability Companies

Section 1705.32 of the Ohio Limited Liability Company Act (the “OLLCA”) provides that a limited liability company may indemnify any person who was or is a party, or who is threatened to be made a party, to any proceeding, because he is or was a manager, member or officer of the company or is or was serving at the company’s request as a manager, member, director or officer of any other entity, against expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by the manager, member or officer in connection with the proceeding if the manager, member or officer acted in good faith and in a manner the manager, member or officer reasonably believed to be in or not opposed to the best interests of the company and, in connection with any criminal action or proceeding, the manager, member or officer had no reasonable cause to believe his conduct was unlawful. In the case of an action by or in the right of the company, however, such indemnification may only apply to expenses actually and reasonably incurred by the person in connection with the defense or settlement of such action and no such indemnification may be made in respect of any claim as to which the person is adjudged to be liable for negligence or misconduct in the performance of his duty to the company unless and only to the extent that the court of common pleas or the court in which the action was brought determines that in view of all the circumstances of the case, the person is fairly and reasonably entitled to indemnification for expenses that the court considers proper. To the extent that a manager or officer of a limited liability company has been successful on the merits or otherwise in defense of any such action, the limited liability company must indemnify him against expenses actually and reasonably incurred by him in connection with the action.

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Section 1705.32 of the OLLCA also provides that a limited liability company may purchase and maintain insurance for or on behalf of any person who is or was a manager, member or officer of the company.

CONSOL of Ohio LLC

The organizational documents also provide that managers and officers will not be held liable if their actions were in good faith and in the best interests of the company.

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Pennsylvania Corporations

Sections 1741 through 1750 of Subchapter D, Chapter 17, of the Pennsylvania Business Corporation Law (“PBCL”) contain provisions for mandatory and discretionary indemnification of a corporation’s directors, officers and other personnel, and related matters.

Under Section 1741 of the PBCL, subject to certain limitations, a corporation has the power to indemnify directors and officers under certain prescribed circumstances against expenses (including attorneys’ fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection with an action or proceeding, whether civil, criminal, administrative or investigative (other than derivative or corporate actions), to which any such officer or director is a party or is threatened to be made a party by reason of such officer or director being a representative of the corporation or serving at the request of the corporation as a representative of another domestic or foreign corporation for profit or not-for-profit, partnership, joint venture, trust or other enterprise, so long as the director or officer acted in good faith and in a manner reasonably believed to be in, or not opposed to, the best interests of the corporation and, with respect to any criminal proceeding, such officer or director had no reasonable cause to believe his conduct was unlawful.

Section 1742 of the PBCL permits indemnification in derivative and corporate actions if the director or officer acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best interests of the corporation, except in respect of any claim, issue or matter as to which the officer or director has been adjudged to be liable to the corporation unless and only to the extent that the proper court determines upon application that, despite the adjudication of liability but in view of all the circumstances of the case, the officer or director is fairly and reasonably entitled to indemnity for the expenses that the court deems proper.

Under Section 1743 of the PBCL, indemnification is mandatory to the extent that the officer or director has been successful on the merits or otherwise in defense of any action or proceeding referred to in Section 1741 or 1742 of the PBCL.

Section 1744 of the PBCL provides that, unless ordered by a court, any indemnification under Section 1741 or 1742 of the PBCL shall be made by the corporation only as authorized in the specific case upon a determination that the officer or director met the applicable standard of conduct, and such determination must be made by (i) the board of directors by a majority vote of a quorum of directors not parties to the action or proceeding, (ii) if a quorum is not obtainable, or if obtainable and a majority vote of a quorum of disinterested directors so directs, by independent legal counsel in a written opinion, or (iii) by the shareholders.

Section 1745 of the PBCL provides that expenses (including attorneys’ fees) incurred by a director or officer in defending any action or proceeding referred to in Subchapter D of Chapter 17 of the PBCL may be paid by the corporation in advance of the final disposition of such action or proceeding upon receipt of an undertaking by or on behalf of such person to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the corporation. Except as otherwise provided in the corporation’s by-laws, advancement of expenses must be authorized by the board of directors.

Section 1746 of the PBCL provides generally that the indemnification and advancement of expenses provided by Subchapter D of Chapter 17 of the PBCL shall not be deemed exclusive of any other rights to which

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an officer or director seeking indemnification or advancement of expenses may be entitled under any by-law, agreement, vote of shareholders or disinterested directors or otherwise, both as to action in his official capacity and as to action in another capacity while holding that office. In no event may indemnification be made in any case where the act or failure to act giving rise to the claim for indemnification is determined by a court to have constituted willful misconduct or recklessness.

Section 1747 of the PBCL grants a corporation the power to purchase and maintain insurance on behalf of any director or officer against any liability incurred by him in his capacity as officer or director, whether or not the corporation would have the power to indemnify him against that liability under Subchapter D of Chapter 17 of the PBCL.

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Sections 1748 and 1749 of the PBCL extend the indemnification and advancement of expenses provisions contained in Subchapter D of Chapter 17 of the PBCL to successor corporations in fundamental changes and to officers and directors serving as fiduciaries of employee benefit plans.

Section 1750 of the PBCL provides that the indemnification and advancement of expenses provided by, or granted pursuant to, Subchapter D of Chapter 17 of the PBCL shall, unless otherwise provided when authorized or ratified, continue as to a person who has ceased to be a director or officer shall inure to the benefit of the heirs and personal representatives of such person.

Eighty-Four Mining Company, Leatherwood, Inc., Mon River Towing, Inc. and Rochester & Pittsburgh Coal Company

The organizational documents of these entities contain provisions that stateprovide that the corporationcompany will provide indemnification to the officers and directors of the corporationcompany to the extent permitted or authorized by applicable law.

Helvetia Coal Company and Keystone Coal Mining Corporation

The organizational documents of the company provide that the company will indemnify each director and officer against all costs, expenses and payments incurred or imposed in connection with any claim, action, suit or proceeding (or settlement) in which such director or officer is involved by reason of his being a director or officer, except when such person is adjudged to have been derelict in the performance of his duty.

Pennsylvania Limited Liability Companies

Section 8945 of the Pennsylvania Limited Liability Company Act provides that a limited liability company may and shall have the power to indemnify and hold harmless any member or manager or other person from and against any and all claims and demands whatsoever. In no event may indemnification be made in any case where the act or failure to act giving rise to the claim for indemnification is determined by a court to have constituted willful misconduct or recklessness. Section 8945 also provides that expense may be paid by a limited liability company in advance of the final disposition of any action or proceeding upon receipt of an undertaking by or on behalf of such person to repay such amount if it shall ultimately be determined that he is not entitled to be indemnified by the limited liability company.

CONSOL of Central Pennsylvania LLC

The organizational documents provide that the company will indemnify and hold harmless the members in the event the member becomes liable for any obligation of the Company and that the managers will not be liable for the debts, liabilities, contract or other obligations of the company.

Pennsylvania PartnershipsR&PCC LLC

Section 8331The organizational documents provide that the company will indemnify and hold harmless the members in the event the member becomes liable for any obligation of the Pennsylvania Uniform Partnership Act providesCompany and that a partnership has the obligation to indemnify each partner in respectmanagers will not be liable for the debts, liabilities, contract or other obligations of the company. In additional, the organizational documents provide that the company may advance costs of defense of any payments made or liabilities incurred inproceeding upon receipt of an undertaking to repay such amount if it shall ultimately be determined that the ordinary and proper conduct of business ofperson is not entitled to be indemnified by the partnership.company.

 

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Conrhein Coal Company

The partnership agreement provides that each partner agrees to indemnify and hold harmless the other partner and the partnership in respect of any and all damages, losses, liabilities and expenses which shall arise out of or result from a violation of the limitations of the authority of the partners and any negligent act committed by such partner.

Tennessee Corporations

Part 5 of Chapter 18 of the Tennessee Business Corporation Act authorizes a court to award, or a corporation’s board of directors to grant, indemnity to an officer, director, employee or agent of the corporation under certain circumstances and subject to certain limitations.

Sections 48-18-301(d) and 48-18-403(d) of the Tennessee Business Corporation Act provide that a director or officer shall not be liable for any action taken as a director or officer or any failure to take any action if the director or officer performed the duties of his or her office (i) in good faith, (ii) with the care an ordinarily prudent person in a like position would exercise under similar circumstances and (iii) in a manner the director reasonably believes to be in the best interests of the corporation.

Coalfield Pipeline Company

The organizational documents of the company provide that, to the fullest extent permitted by the applicable law, the company will indemnify any person who is or was is involved in any manner, in any proceeding by reason of the fact that he or she is or was a director of officer of the company, or was serving at the request of the company as a director, or officer of another corporation, partnership, joint venture, trust, or other enterprise against all expenses and other amounts actually and reasonably incurred by him or her in connection with any such proceeding.

Tennessee Limited Liability Companies

Section 48-243-101 of the Tennessee Limited Liability Company Act authorizes a court to award, or a limited liability company to grant, indemnity to a governor, member, manager, partner, trustee, employee, independent contractor or agent of the company under certain circumstances and subject to certain limitations.

Sections 48-240-102(e) and 48-241-111(d) of the Tennessee Limited Liability Company Act provide that a member or manager shall not be liable for any action taken as a member or manager or any failure to take any action if the member or manager performed the duties of the position (i) in good faith, (ii) with the care an ordinarily prudent person in a like position would exercise under similar circumstances and (iii) in a manner the member or manager reasonably believes to be in the best interest of the LLC.

Knox Energy, LLC

The organizational documents of the company provide that the company will indemnify its managers, employees and other agents who are not managers to the fullest extent permitted by law, provided that such indemnification in any given situation is approved by members owning a majority interest in the company.

Virginia Corporations

Sections 13.1-697-699 and 701-704 of the Virginia Stock Corporation Act (“VSCA”) provide, generally and in part, that a corporation may indemnify an individual made a party to a proceeding because he is or was a

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director, against liability incurred in the proceeding if he conducted himself in good faith and reasonably believed, in the case of conduct in his official capacity with the corporation, that his conduct was in its best interests, or in all other cases, that his conduct was at least not opposed to its best interests and, in the case of any criminal proceeding, he had no reasonable cause to believe his conduct was unlawful; provided, however, that a corporation may not indemnify a director in connection with a proceeding by or in the right of the corporation in which the director was adjudged liable to the corporation or in connection with any other proceeding charging improper personal benefit to him in which he was adjudged liable. Such indemnification in connection with a proceeding by or in the right of the corporation is limited to reasonable expenses incurred in connection therewith.

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Unless limited by a corporation’s certificate of incorporation, similar indemnity with respect to expenses incurred is mandatory under the above-referenced Sections of the VSCA for a director or officer who was wholly successful on the merits or otherwise, in defense of any proceedings to which he was a party because he is or was a director or officer, as the case may be. Any such indemnification may be made only as authorized in each specific case after a determination by disinterested directors, special legal counsel or disinterested shareholders that indemnification is permissible because the indemnitee has met the applicable standard of conduct. Directors and officers may also apply for court-ordered indemnification. Pursuant to Section 13.1-704 of the VSCA, a corporation may also indemnify and advance expenses to any director or officer to the extent provided by the corporation’s certificate of incorporation, any bylaw made by the shareholders or any resolution adopted by the shareholders, except an indemnity against willful misconduct or a knowing violation of the criminal law.

AMVEST Coal Sales, Inc. and AMVEST Oil & Gas, Inc.

The organizational documents provide that the directors and officers of the corporation will be indemnified against all liabilities asserted against such persons by reason of having been a director or officer, whether or not then currently a director or officer, and against all expenses reasonably incurred in connection therewith, except to the extent such person has been adjudged to be liable by reason of gross negligence or willful misconduct in performance of his duty as director or officer.

AMVEST Corporation

The organizational documents of these entities contain provisions that state that the corporation will provide indemnification to each director or officer or former director or officer, or any person who may have served at the Corporation’s request as director or officer of another corporation in which this corporation owns shares of capital stock or of which it is a creditor, against all expenses actually and reasonably incurred by such person in connection with the defense of any claim, action, suit or proceedings against such person, except if such person is adjudged to have been liable for negligence or misconduct in the performance of his duty as such director or officer.

AMVEST Gas Resources, Inc., AMVEST Mineral Services, Inc., Nicholas-Clay Land & Mineral, Inc. and Wolfpen Knob Development Company

The organizational documents of these entities contain provisions that state that the corporation will provide indemnification to the officers and directors of the corporation to extent permitted or authorized by applicable law.

Laurel Run Mining Company

The organizational documents of this corporation provide that the corporation will indemnify any director or officer against any liability incurred in connection with a proceeding if (1) he believed that his conduct was in the best interests of the corporation and, in a criminal proceeding, he had no reasonable cause to believe his conduct was unlawful and (ii) he was not guilty of gross negligence or willful misconduct; provided that no indemnification will be provided when such person is charged with improper benefit to himself.

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Peters Creek Mineral Services, Inc.

The organizational documents of this company do not contain any indemnification provisions.

Virginia limited liability companiesLimited Liability Companies

Section 13.1-1009 of the Virginia Limited Liability Company Act permits a limited liability company to indemnify and hold harmless any member or manager or other person from and against any and all claims and

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demands whatsoever, and to pay for or reimburse any member or manager or other person for reasonable expenses incurred by such a person who is a party to a proceeding in advance of final disposition of the proceeding.

AMVEST Coal & Rail, L.L.C., AMVEST Minerals Company, L.L.C., Glamorgan Coal Company, L.L.C. and TEAGLE Company, L.L.C.

The organizational documents provide that the members, managers and officer of the company are entitled to indemnification to the same extent as officers and directors are entitled to indemnification in accordance with corporate law.

CNX Gas Company LLC

The organizational documents of the company provide that the company will indemnify and hold harmless the member in the event the member (a) becomes liable for any debt liability, contract or other obligation of the company, or (b) is directly or indirectly required to make any payments with respect thereto.

Virginia Partnership

Under the Virginia Partnership Act, a partnership is obligated to reimburse a partner for payments made and indemnify a partner for liabilities incurred by the partner in the ordinary course of the business of the partnership or for the preservation of its business or property.

Cardinal States Gathering Company

The partnership agreement provides that each partner will indemnify and hold harmless the other partners and their affiliates, directors, officers, employees and agents and the partnership from and against all claims, loss, damage, demands, liabilities, obligations or rights of action, arising as a result of: (a) breach of the partnership agreement; (b) intentional misrepresentation; (c) anything done or omitted to be done through the gross negligence or willful misconduct of the indemnifying partner or its officers, directors, employees, agents; (d) any action by the indemnifying partner or any of its officers, directors, employees or agents whose services have not been specifically contracted for by the partnership; and (e) any claims brought by third parties against the other partners as a result of any activity engaged in by the indemnifying partner outside the business purpose of the partnership.

West Virginia Corporations

The West Virginia Business Corporation Act (“WVBCA”) empowers a corporation to indemnify an individual made a party to a proceeding because he is or was a director against liability incurred in the proceeding if: (1)(A) he conducted himself in good faith; and (B) he reasonably believed (i) in the case of conduct in his official capacity with the corporation, that his conduct was in its best interests; and (ii) in all other cases, that his conduct was at least not opposed to its best interests; and (C) in the case of any criminal proceeding, he had no reasonable cause to believe his conduct was unlawful; or (2) he engaged in conduct for which broader indemnification has been made permissible or obligatory under a provision of the articles of

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incorporation. A corporation may not indemnify a director (1) in connection with a proceeding by or in the right of the corporation, except for reasonable expenses incurred in connection with the proceeding; or (2) in connection with any other proceeding with respect to conduct for which he was adjudged liable on the basis that he received financial benefit to which he was not entitled, whether or not involving action in his official capacity. A corporation must indemnify a director who was wholly successful, on the merits or otherwise, in the defense of any proceeding to which he was a party because he is or was a director of the corporation against reasonable expenses incurred by him in connection with the proceeding. Under the WVBCA, a corporation may pay for or reimburse the reasonable expenses incurred by a director who is a party to a proceeding in advance of the final

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disposition of the proceeding if: (1) the director furnishes the corporation a written affirmation of his good faith belief that he has met the relevant standard of conduct; and (2) the director furnishes the corporation a written undertaking to repay the advance if the director is not entitled to mandatory indemnification under the WVBCA and it is ultimately determined that he did not meet the relevant standard of conduct. A corporation may indemnify and advance expenses to an officer of the corporation to the same extent as to a director. A corporation may also purchase and maintain on behalf of a director or officer of the corporation insurance against liabilities incurred in such capacities, whether or not the corporation would have the power to indemnify him against the same liability under the WVBCA.

Braxton-Clay Land & Mineral, Inc., Southern Ohio Coal Company, Terra Firma Company and Vaughn Railroad Company

The organizational documents of these entities contain provisions that state that the corporation will provide indemnification to the officers and directors of the corporation to extent permitted or authorized by applicable law.

Windsor Coal Company

The organizational documents of this company do not contain any indemnification provisions.

West Virginia Limited Liability Companies

Section 31B-4-403 of the West Virginia Uniform Limited Liability Company Act discusses members’ and managers’ rights to payments and reimbursement. A limited liability company shall reimburse a member or manager for payments made and indemnify a member or manager for liabilities incurred by the member or manager in the ordinary course of the business of the company or for the preservation of its business or property. A limited liability company shall reimburse a member for an advance to the company beyond the amount of contribution the member agreed to make. A payment or advance made by a member whichthat gives rise to an obligation of a limited liability company under the West Virginia statute constitutes a loan to the company upon which interest accrues from the date of the payment or advance. A member is not entitled to remuneration for services performed for a limited liability company, except for reasonable compensation for services rendered in winding up the business of the company.

AMVEST West Virginia Coal, L.L.C., Fola Coal Company, L.L.C., Little Eagle Coal Company, L.L.C. and Terry Eagle Coal Company, L.L.C.

The organizational documents provide that the members, managers and officer of the company are entitled to indemnification to the same extent as officers and directors are entitled to indemnification in accordance with corporate law.

CNX Water Assets LLC (f/k/a CONSOL of WV LLC)

The organizational documents of this company doprovide that a (i) member is entitled to indemnification for any debt liability, contract or other obligation of the company except unpaid capital contributions, and (ii) manager shall not contain any indemnification provisions.

be liable for the debts, liabilities, contracts or other obligations of the company.

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West Virginia Limited Partnerships

The West Virginia Uniform Limited Partnership Act does not prohibit the indemnification of its partners and states that the general partner shall have the same powers and liabilities of a partner under a general partnership. Under the West Virginia Uniform Partnership Act, a partnership has the obligation to indemnify each partner in respect of any payments made or liabilities incurred in the ordinary course of business of the partnership.

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Terry Eagle Limited Partnership

The partnership agreement provides that each partner will indemnify the other partners against any damage, liability, loss, or cost of deficiency arising from any failure of that partner to perform or observe any term, provision, covenant or agreement to be performed or observed by that party.

 

Item 21.Exhibits and Financial Statement Schedules.

 

(a)Exhibits

The exhibits to this registration statement are listed in the Exhibit Index which appears elsewhereand are incorporated herein and is incorporated by reference.

Item 22. Undertakings.

Item 22.Undertakings.

The undersigned registrants hereby undertake:

(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

(1)To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

(i) To include any prospectus required by section 10(a)(3) of the Securities Act of 1933;

(i)To include any prospectus required by section 10(a)(3) of the Securities Act;

(ii) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement;

(ii)To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the “Calculation of Registration Fee” table in the effective registration statement;

(iii) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.

(iii)To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.

(2) That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(2)That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(3)To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

(4) Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the

(4)Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit, or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

 

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(5)For purposes of determining any liability under the Securities Act, each filing of the registrant’s annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit, or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.

(6)To respond to requests for information that is incorporated by reference into the prospectus pursuant to Items 4, 10(b), 11 or 13 of this Form, within one business day of receipt of such request, and to send the incorporated documents by first class mail or other equally prompt means. This includes information contained in documents filed subsequent to the effective date of the registration statement through the date of responding to the request.

(5) For purposes of determining any liability under the Securities Act of 1933, each filing of the registrant’s annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plan’s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(7)To supply by means of a post-effective amendment all information concerning a transaction, and the company being acquired involved therein, that was not the subject of and included in the registration statement when it became effective.

(6) To respond to requests for information that is incorporated by reference into the prospectus pursuant to Items 4, 10(b), 11 or 13 of this Form, within one business day of receipt of such request, and to send the incorporated documents by first class mail or other equally prompt means. This includes information contained in documents filed subsequent to the effective date of the registration statement through the date of responding to the request.

(8)That, for purposes of determining liability under the Securities Act to any purchaser, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

(7) To supply by means of a post-effective amendment all information concerning a transaction, and the company being acquired involved therein, that was not the subject of and included in the registration statement when it became effective.

(9)That, for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

(8) That, for purposes of determining liability under the Securities Act of 1933 to any purchaser, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.

(i)Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

(9) That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:

(ii)Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;

(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

(iii)The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;

(iii) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

(iv)Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

 

II-12


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CONSOL ENERGY INC.

By:

 

/S/s/    Nicholas J. BRETT HARVEYDeIuliis        

 Nicholas J. Brett HarveyDeIuliis
 Chairman and

Chief Executive Officer, President and

Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of CONSOL Energy Inc., a Delaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ J. BRETT HARVEY

J. Brett Harvey

Chairman and Chief Executive Officer
(Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Chief Financial Officer and Executive Vice President
(Principal Financial and Accounting Officer)

/S/ JOHN L. WHITMIRE

John L. Whitmire

Vice Chairman

/S/ PHILIP W. BAXTER

Philip W. Baxter

Lead Independent Director

/S/ JAMES E. ALTMEYER, SR.

James E. Altmeyer, Sr.

Director

/S/ WILLIAM E. DAVIS

William E. Davis

Director

II-13


/S/    RAJ K. GUPTA        

Raj K. Gupta

Director

/S/    PATRICIA A. HAMMICK        

Patricia A. Hammick

Director

/S/    DAVID C. HARDESTY, JR.        

David C. Hardesty, Jr.

Director

/S/    JOHN T. MILLS        

John T. Mills

Director

/S/    WILLIAM P. POWELL        

William P. Powell

Director

/S/    JOSEPH T. WILLIAMS        

Joseph T. Williams

Director

II-14


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

AMVEST Coal & Rail, L.L.C.
By:/S/ BART J. HYITA
Bart J. Hyita
President and Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of AMVEST Coal & Rail, L.L.C., a Virginia limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said company to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President and Manager (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Manager (Principal Financial and Accounting Officer)

/S/ JAMES A. BROCK

James A. Brock

Manager

/S/ P. JEROME RICHEY

P. Jerome Richey

Manager

/S/ ROBERT F. PUSATERI

Robert F. Pusateri

Manager

II-15


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

AMVEST Coal Sales, Inc.
By:/S/ ROBERT F. PUSATERI
Robert F. Pusateri
President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of AMVEST Coal Sales, Inc., a Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT F. PUSATERIs/    Nicholas J. DeIuliis        

Robert F. PusateriNicholas J. DeIuliis

  

Chief Executive Officer, President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/    David M. Khani        

William J. LyonsDavid M. Khani

  

Director (PrincipalChief Financial Officer and AccountingExecutive Vice President

(Principal Financial Officer)

November 20, 2015

/S/ BART J. HYITAs/    C. Kristopher Hagedorn        

Bart J. HyitaC. Kristopher Hagedorn

  

Director

Controller and Vice President (Principal Accounting Officer)
November 20, 2015

/S/ P. JEROME RICHEYs/    J. Brett Harvey        

P. Jerome RicheyJ. Brett Harvey

  Chairman of the BoardNovember 20, 2015

/s/    Philip W. Baxter        

Philip W. Baxter

Lead Independent DirectorNovember 20, 2015

/s/    Alvin R. Carpenter        

Alvin R. Carpenter

DirectorNovember 20, 2015

II-16


/s/    William E. Davis        

William E. Davis

DirectorNovember 20, 2015

/s/    David C. Hardesty, Jr.        

David C. Hardesty, Jr.

DirectorNovember 20, 2015

/s/    Maureen E. Lally-Green        

Maureen E. Lally-Green

DirectorNovember 20, 2015

/s/    John T. Mills        

John T. Mills

DirectorNovember 20, 2015

/s/    William P. Powell        

William P. Powell

DirectorNovember 20, 2015

/s/    Gregory A. Lanham        

Gregory A. Lanham

DirectorNovember 20, 2015

/s/    William N. Thorndike        

William N. Thorndike

DirectorNovember 20, 2015


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

AMVEST CorporationCOAL & RAIL, L.L.C.

By:

 

/S/ BART J. HYITAs/    James A. Brock        

 Bart J. HyitaJames A. Brock
 President and Manager

Each of the undersigned managers and officers of AMVEST Coal & Rail, L.L.C., a Virginia limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/    James A. Brock        

James A. Brock

President and Manager

(Principal Executive Officer)

November 20, 2015

/s/    Steven T. Aspinall        

Steven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/    James C. Grech        

James C. Grech

Vice President and Manager

November 20, 2015

/s/    David M. Khani        

David M. Khani

Manager

November 20, 2015

/s/    Stephen W. Johnson        

Stephen W. Johnson

Manager

November 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

AMVEST COAL SALES, INC.

By:

/s/    James C. Grech        

James C. Grech
President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of AMVEST Corporation,Coal Sales, Inc., a Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/    James C. Grech        

Bart J. HyitaJames C. Grech

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/    Steven T. Aspinall        

William J. LyonsSteven T. Aspinall

  

Director (PrincipalTreasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/S/ NICHOLAS J. DEIULIISs/    David M. Khani        

Nicholas J. DeIuliisDavid M. Khani

Vice President and DirectorNovember 20, 2015

/s/    Stephen W. Johnson        

Stephen W. Johnson

  

Director

November 20, 2015

/S/ P. JEROME RICHEYs/    James A. Brock        

P. Jerome RicheyJames A. Brock

  

Director

/S J. BRETT HARVEY

J. Brett Harvey

 

Director

/S/ ROBERT P. KING

Robert P. King

Director

November 20, 2015

II-17


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

AMVEST Gas Resources, Inc.CORPORATION
By: 

/S/ ROBERT P. KINGs/ James A. Brock

 Robert P. KingJames A. Brock
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of AMVEST Gas Resources, Inc.,Corporation, a Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James A. Brock

Robert P. KingJames A. Brock

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ David M. Khani

William J. LyonsDavid M. Khani

  

Director (PrincipalVice President, Chief Financial Officer and AccountingDirector

(Principal Financial Officer)

November 20, 2015

/S/ STEPHEN W. JOHNSONs/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ James C. Grech

James C. Grech

Vice President and Director

November 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Vice President and Director

November 20, 2015

/s/ Nicholas J. DeIuliis

Nicholas J. DeIuliis

  

Director

November 20, 2015

II-18


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

AMVEST Mineral Services, Inc.GAS RESOURCES, INC.
By: 

/S/ ROBERT P. KINGs/ James C. Grech

 Robert P. KingJames C. Grech
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of AMVEST Mineral Services,Gas Resources, Inc., a Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James C. Grech

Robert P. KingJames C. Grech

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/Ss/ Stephen W. Johnson

Stephen W. Johnson

Vice President and Director

November 20, 2015

/ ROBERTs/ David M. BELESKYKhani

RobertDavid M. BeleskyKhani

  

Director

/S/ BART J. HYITA

Bart J. Hyita

 

Director

November 20, 2015

II-19


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

AMVEST Minerals Company, L.L.C.MINERAL SERVICES, INC.
By: 

/S/ ROBERT P. KINGs/ James C. Grech

 Robert P. KingJames C. Grech
 President and Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of AMVEST Minerals Company, L.L.C., a Virginia limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said company to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ ROBERT P. KING

Robert P. King

President and Manager (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Manager (Principal Financial and Accounting Officer)

/S/ BART J. HYITA

Bart J. Hyita

Manager

II-20


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

AMVEST Oil & Gas, Inc.
By:/S/ ROBERT P. KING
Robert P. King
President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of AMVEST Oil & Gas,Mineral Services, Inc., a Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James C. Grech

Robert P. KingJames C. Grech

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Director (PrincipalTreasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/S/ STEPHEN W. JOHNSONs/ James A. Brock

Stephen W. JohnsonJames A. Brock

  

Director

November 20, 2015

II-21


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

AMVEST West Virginia Coal, L.L.C.MINERALS COMPANY, L.LC.

By:

 

/S/ ROBERT P. KINGs/ James C. Grech

 

Robert P. King

James C. Grech

President

and Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of AMVEST West Virginia Coal, L.L.C.,Minerals Company, LLC, a West Virginia limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said companycorporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James C. Grech

Robert P. KingJames C. Grech

  

President (Principaland Manager

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ David M. Khani

William J. LyonsDavid M. Khani

  

Vice President, Chief Financial Officer and Manager

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ JAMES A. BROCKs/ C. Kristopher Hagedorn

James A. BrockC. Kristopher Hagedorn

  

Manager

/S/ BART J. HYITAController

Bart J. Hyita(Principal Accounting Officer)

 

Manager

November 20, 2015

II-22


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Braxton-Clay LandAMVEST OIL & Mineral, Inc.GAS, INC.

By:

 

/S/ ROBERT P. KINGs/ James C. Grech

 

Robert P. King

James C. Grech

President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Braxton-Clay LandAMVEST Oil & Mineral,Gas, Inc., a West Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James C. Grech

Robert P. KingJames C. Grech

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/Ss/ Stephen W. Johnson

Stephen W. Johnson

Vice President and Director

November 20, 2015

/ ROBERTs/ David M. BELESKYKhani

RobertDavid M. BeleskyKhani

  

Director

/S/ BART J. HYITA

Bart J. Hyita

 

Director

November 20, 2015

II-23


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Cardinal States Gathering CompanyAMVEST WEST VIRGINIA COAL, L.L.C.

By:

 

/S/ NICHOLAS J. DEIULIISs/ James C. Grech

 

Nicholas J. DeIuliis

President, Chief Executive Officer and Manager of

CNX Gas Company LLC, Partner of Cardinal States

Gathering Company

By:

/S/ J. BRETT HARVEYJames C. Grech
 

J. Brett Harvey

Chief Executive OfficerPresident and Director of CNX Gas

Corporation, Partner of Cardinal States Gathering

Company

Manager

POWER OF ATTORNEY

Each of the undersigned directors, managers and officers as indicated below, of the partners of Cardinal States Gathering Company,AMVEST West Virginia Coal, L.L.C., a West Virginia general partnership,limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directorsmanagers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said general partnershipcorporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

Title

/S/ NICHOLAS J. DEIULIIS

Nicholas J. DeIuliisSignature

  

President, Chief Executive Officer and Manager of CNX Gas Company LLC, Partner of Cardinal States Gathering Company (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. LyonsTitle

 

Principal Financial and Accounting OfficerDate

/S/ J. BRETT HARVEY

J. Brett Harvey

Manager of CNX Gas Company LLC, Partner of Cardinal States Gathering Company

II-24


Signature/s/ James C. Grech

James C. Grech

  

TitlePresident and Manager

(Principal Executive Officer)

November 20, 2015

/S/    STEPHEN W. JOHNSON        s/ Steven T. Aspinall

Stephen W. JohnsonSteven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/ James A. Brock

James A. Brock

  

Manager of CNX Gas Company LLC, Partner of Cardinal States Gathering Company

/S/    RANDALL M. ALBERT        

Randall M. Albert

 

Manager of CNX Gas Company LLC, Partner of Cardinal States Gathering Company

/S/    J. BRETT HARVEY        

J. Brett Harvey

Chief Executive Officer and Director of CNX Gas Corporation, Partner of Cardinal States Gathering Company (Principal Executive Officer)

/S/    P. JEROME RICHEY        

P. Jerome Richey

Director of CNX Gas Corporation, Partner of Cardinal States Gathering Company

/S/    NICHOLAS J. DEIULIIS        

Nicholas J. DeIuliis

Director of CNX Gas Corporation, Partner of Cardinal States Gathering Company

/S/    J. MICHAEL ONIFER        

J. Michael Onifer

Director of CNX Gas Corporation, Partner of Cardinal States Gathering Company

/S/    RANDALL M. ALBERT        

Randall M. Albert

Director of CNX Gas Corporation, Partner of Cardinal States Gathering Company

November 20, 2015

II-25


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Central Ohio Coal CompanyBRAXTON-CLAY LAND & MINERAL, INC.

By:

 

/S/ ROBERT P. KINGs/ James C. Grech

 

Robert P. King

James C. Grech

President

and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Central Ohio Coal Company, an OhioBraxton-Clay Land & Mineral, Inc., a West Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, WilliamDavid M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule��462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James C. Grech

James C. Grech

President and Director

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/ James A. Brock

James A. Brock

Director

November 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

CARDINAL STATES GATHERING COMPANY
By:

/s/ Timothy C. Dugan

Timothy C. Dugan

President, Chief Executive Officer,

Manager and Representative of CNX Gas

Corporation

Each of the undersigned managers, management committee representatives and officers of Cardinal States Gathering Company, a Virginia partnership, do hereby constitute and appoint Nicholas J. Lyons, P. Jerome RicheyDeIuliis, David M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers, management committee representatives and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ Timothy C. Dugan

Timothy C. Dugan,

President, Chief Executive Officer, Manager and

Representative of CNX Gas Corporation, Partner

of Cardinal States Gathering Company

Management Committee MemberNovember 20, 2015

/s/ Craig W. Neal

Craig W. Neal,

Representative of CNX Gas Company LLC, Partner of Cardinal States Gathering Company

Management Committee MemberNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

CNX GAS COMPANY LLC
By:

/s/ Timothy C. Dugan

Timothy C. Dugan

President, Chief Executive Officer and

Manager

Each of the undersigned managers and officers of CNX Gas Company LLC, a Virginia limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ Timothy C. Dugan

Timothy C. Dugan

President, Chief Executive Officer and Manager

(Principal Executive Officer)

November 20, 2015

/s/ David M. Khani

David M. Khani

Senior Vice President, Chief Financial Officer and Manager

(Principal Financial and Accounting Officer)

November 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

ManagerNovember 20 , 2015

/s/ Nicholas J. DeIuliis

Nicholas J. DeIuliis

ManagerNovember 20, 2015

/s/ James C. Grech

James C. Grech

ManagerNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

CNX GAS CORPORATION
By:

/s/    Timothy C. Dugan        

Timothy C. Dugan

President, Chief Executive Officer and

Director

Each of the undersigned directors and officers of CNX Gas Corporation, a Delaware corporation, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/    Timothy C. Dugan        

Robert P. KingTimothy C. Dugan

  

President, (PrincipalChief Executive Officer and Director

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/    David M. Khani        

William J. LyonsDavid M. Khani

  

Senior Vice President, Chief

Financial Officer and Director

(Principal Financial and

Accounting OfficerOfficer)

November 20, 2015

/S/ NICHOLAS J. DEIULIIS

s/    Nicholas J. DeIuliis

Nicholas J. DeIuliis

  

Chairman and Director

November 20, 2015

/S/ STEPHEN W. JOHNSON

s/    Stephen W. Johnson

Stephen W. Johnson

  

Executive Vice President, Chief

Administrative Officer and Director

November 20, 2015

/S/ J. BRETT HARVEYs/    James C. Grech        

J. Brett HarveyJames C. Grech

  

Chief Commercial Officer and Director

November 20, 2015

II-26


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CNX Gas CompanyLAND LLC

By:

 

/S/ NICHOLAS J. DEIULIISs/    James C. Grech        

 

Nicholas J. DeIuliis

James C. Grech

President Chief Executive Officer and Manager

Chairman

POWER OF ATTORNEY

Each of the undersigned managers and officers of CNX Gas CompanyLand LLC, a VirginiaDelaware limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said companycorporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ NICHOLAS J. DEIULIISs/    James C. Grech        

Nicholas J. DeIuliisJames C. Grech

  

President and Chairman

(Principal Executive Officer)

November 20, 2015

/s/    Steven T. Aspinall        

Steven T. Aspinall

Treasurer

(Principal Financial Officer)

November 20, 2015

/s/    C. Kristopher Hagedorn        

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/    Nicholas J. DeIuliis        

Nicholas J. DeIuliis

President, Chief Executive Officer and Manager (Principal Executive Officer)

/S/ WILLIAM J. LYONSDirector of

William J. LyonsCONSOL Energy Inc., Sole Owner of CNX Land

LLC

  

Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

/S/ J. BRETT HARVEY

J. Brett Harvey

Manager
 

Manager

/S/ RANDALL M. ALBERT

Randall M. Albert

Manager

/S/ STEPHEN W. JOHNSON

Stephen W. Johnson

Manager

November 20, 2015

II-27


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CNX Gas CorporationMARINE TERMINALS INC.

By:

 

/S/ J. BRETT HARVEYs/    James C. Grech        

 

J. Brett Harvey

Chief Executive OfficerJames C. Grech

President, Director and Director

Chairman

POWER OF ATTORNEY

Each of the undersigned directors and officers of CNX Gas Corporation,Marine Terminals Inc., a Delaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ J. BRETT HARVEYs/    James C. Grech        

J. Brett HarveyJames C. Grech

  

Chief Executive OfficerPresident, Director and Director (PrincipalChairman

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/    Steven T. Aspinall        

William J. LyonsSteven T. Aspinall

  

Executive Vice President and ChiefTreasurer

(Principal Financial Officer (Principal Financial and Accounting Officer)

November 20, 2015

/S/ P JEROME RICHEYs/    C. Kristopher Hagedorn        

P Jerome RicheyC. Kristopher Hagedorn

  

DirectorVice President, Comptroller and

Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/S/ NICHOLAS J. DEIULIISs/    David M. Khani        

Nicholas J. DeIuliisDavid M. Khani

  

Director

November 20, 2015

/S/s/    James J. MICHAEL ONIFERMcCaffrey        

James J. Michael OniferMcCaffrey

  

Director

/S/ RANDALL M. ALBERT

Randall M. Albert

 

Director

November 20, 2015

II-28


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CNX Land Resources Inc.RCPC LLC

By:

 

/S/ ROBERT P. KINGs/    James C. Grech        

 James C. Grech
President

Each of the undersigned managers and officers of CNX RCPC LLC, a Delaware limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Robert P. KingSignature

Title

Date

/s/    James C. Grech        

James C. Grech

President

(Principal Executive Officer)

November 20, 2015

/s/    Steven T. Aspinall        

Steven T. Aspinall

Treasurer

(Principal Financial Officer)

November 20, 2015

/s/    C. Kristopher Hagedorn        

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/    Nicholas J. DeIuliis        

Nicholas J. DeIuliis

President, Chief Executive Officer and Director of

CONSOL Energy Inc., Sole Owner of CNX RCPC LLC

ManagerNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

COALFIELD PIPELINE COMPANY
By:

/s/    Timothy C. Dugan        

Timothy C. Dugan
President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of CNX Land Resources Inc.,Coalfield Pipeline Company, a Delaware corporation,Tennessee company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/    Timothy C. Dugan        

Robert P. KingTimothy C. Dugan

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/    Steven T. Aspinall        

William J. LyonsSteven T. Aspinall

  

Director (PrincipalTreasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/S/ J. BRETT HARVEYs/    Stephen W. Johnson        

J. Brett HarveyStephen W. Johnson

  

Director

/S/ NICHOLAS J. DEIULIIS

Nicholas J. DeIuliis

 

Director

/S/ JAMES J. MCCAFFREY

James J. McCaffrey

Director

/S/ P. JEROME RICHEY

P. Jerome Richey

Director

November 20, 2015

II-29


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CNX Marine Terminals Inc.CONRHEIN COAL COMPANY

By:

 

/S/ ROBERT F. PUSATERIs/    James C. Grech        

 

Robert F. Pusateri

President and Director

James C. Grech
Manager

POWER OF ATTORNEYEach of the undersigned management representatives and officers of Conrhein Coal Company, a Pennsylvania partnership, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as management representatives and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/    James C. Grech        

James C. Grech

Manager

(Principal Executive Officer)

November 20, 2015

/s/    Steven T. Aspinall        

Steven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/    C. Kristopher Hagedorn        

C. Kristopher Hagedorn

Vice President, Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/    Nicholas J. DeIuliis        

Nicholas J. DeIuliis

President, Chief Executive Officer and Director of CONSOL Energy Inc., Manager of CONSOL Mining Holding Company LLC, General Partner of Conrhein Coal Company

General PartnerNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

CONSOL ENERGY HOLDINGS LLC VI
By:

/s/    James C. Grech        

James C. Grech
President and Chief Executive Officer

Each of the undersigned managers and officers of CONSOL Energy Holdings LLC VI, a Delaware limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/    James C. Grech        

James C. Grech

President and Chief Executive Officer

(Principal Executive Officer)

November 20, 2015

/s/    Steven T. Aspinall        

Steven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/    Nicholas J. DeIuliis        

Nicholas J. DeIuliis

President, Chief Executive Officer and Director of CONSOL Energy Inc., Sole Owner of CONSOL Energy Holdings LLC VI

ManagerNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

CONSOL ENERGY SALES COMPANY
By:

/s/ James C. Grech

James C. Grech
President, Chief Executive Officer and Director

Each of the undersigned directors and officers of CNX Marine Terminals Inc.,CONSOL Energy Sales Company, a Delaware corporation,company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT F. PUSATERIs/ James C. Grech

Robert F. PusateriJames C. Grech

  

President, Chief Executive Officer and Director (Principal

(Principal Executive Officer)

November 20, 2015

/Ss/ David M. Khani

David M. Khani

Vice President, Chief Financial Officer and Director

(Principal Financial Officer)

November 20, 2015

/ WILLIAMs/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ Nicholas J. LYONSDeIuliis

WilliamNicholas J. LyonsDeIuliis

  

Director (Principal Financial and Accounting Officer)Chairman

November 20, 2015

/S/ JAMES J. MCCAFFREYs/ Stephen W. Johnson

James J. McCaffreyStephen W. Johnson

  

Director

November 20, 2015

II-30


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Coalfield Pipeline CompanyCONSOL FINANCIAL INC.

By:

 

/S/s/ Donald J. MICHAEL ONIFERBromley

 

Donald J. Michael Onifer

Bromley

President and Director

Treasurer

POWER OF ATTORNEY

Each of the undersigned directors and officers of Coalfield Pipeline Company,CONSOL Financial Inc., a Tennessee corporation,Delaware company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/s/ Donald J. MICHAEL ONIFERBromley

Donald J. Michael OniferBromley

  

President and Director (PrincipalTreasurer

(Principal Executive, Financial and Accounting Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Christopher C. Jones

William J. LyonsChristopher C. Jones

  

Principal Financial and Accounting Officer

Director
November 20, 2015

/S/ STEPHEN W. JOHNSONs/ James A. Brock

Stephen W. JohnsonJames A. Brock

  

Director

November 20, 2015

/s/ David Khani

David Khani

Director

November 20, 2015

II-31


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Conrhein Coal CompanyCONSOL MINING COMPANY LLC

By:

 

/S/ ROBERT P. KINGs/ James A. Brock

 

Robert P. King

President and Director of MTB Inc., Partner of

Conrhein Coal Company

By:

/S/ BART J. HYITAJames A. Brock
 

Bart J. Hyita

President, Chairman and Director of Consolidation Coal

Company, Partner of Conrhein Coal Company

Chief Executive Officer

POWER OF ATTORNEY

Each of the undersigned directorsmanagers and officers as indicated below, of the partners of Conrhein CoalCONSOL Mining Company LLC, a Pennsylvania general partnership,Delaware limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directorsmanagers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said general partnershipcorporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

Title

/S/ ROBERT P. KING

Robert P. KingSignature

  

President and Director of MTB Inc., Partner of Conrhein Coal Company (Principal Executive Officer)

/S/ BART J. HYITA

Bart J. HyitaTitle

 

Director of MTB Inc., Partner of Conrhein Coal CompanyDate

/S/ STEPHEN W. JOHNSON

Stephen W. Johnson

Director of MTB Inc., Partner of Conrhein Coal Company

/S/ BART J. HYITA

Bart J. Hyita

President and Director of Consolidation Coal Company, Partner of Conrhein Coal Company (Principal Executive Officer)

II-32


Signature/s/ James A. Brock

James A. Brock

  

TitlePresident, Chairman and Chief Executive Officer

(Principal Executive Officer)

November 20, 2015

/S/    J. BRETT HARVEY        s/ Steven T. Aspinall

J. Brett HarveySteven T. Aspinall

  

Director of Consolidation Coal Company, Partner of Conrhein Coal CompanyTreasurer

(Principal Financial Officer)

November 20, 2015

/S/    NICHOLAS J. DEIULIIS        s/ C. Kristopher Hagedorn

Nicholas J. DeIuliisC. Kristopher Hagedorn

  

Director of Consolidation Coal Company, Partner of Conrhein Coal CompanyController and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/S/    WILLIAM J. LYONS        s/ James A. Brock

William J. LyonsJames A. Brock

President of CONSOL Mining Holding Company LLC, Sole Owner of CONSOL Mining Company LLC

  

Director of Consolidation Coal Company, Partner of Conrhein Coal Company (Principal Financial and Accounting Officer)

/S/    P. JEROME RICHEY        

P. Jerome RicheyManager

 

Director of Consolidation Coal Company, Partner of Conrhein Coal Company

/S/    ROBERT P. KING        

Robert P. King

Director of Consolidation Coal Company, Partner of Conrhein Coal Company

/S/    ROBERT F. PUSATERI        

Robert F. Pusateri

Director of Consolidation Coal Company, Partner of Conrhein Coal Company

November 20, 2015

II-33


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CONSOL Energy HoldingsMINING HOLDING COMPANY LLC VI

By:

 

/S/ J. BRETT HARVEYs/ James A. Brock

 J. Brett HarveyJames A. Brock
 

President, Chairman and Chief Executive Officer and Chairman of

CONSOL Energy Inc., the sole member of CONSOL

Energy Holdings LLC VI

POWER OF ATTORNEY

Each of the undersigned directorsmanagers and officers of CONSOL Energy Inc., the sole member of CONSOL Energy HoldingsMining Holding Company LLC, VI, a Delaware limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said companycorporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ J. BRETT HARVEYs/ James A. Brock

J. Brett HarveyJames A. Brock

  

President, Chairman and Chief Executive Officer

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial Officer)

November 20, 2015

/s/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ Nicholas J. DeIuliis

Nicholas J. DeIuliis

President, Chief Executive Officer and Chairman of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Executive Vice President and Chief Financial Officer of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI (Principal Financial and Accounting Officer)

/S/ JOHN WHITMIRE

John Whitmire

Vice Chairman of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI

/S/ JAMES E. ALTMEYER, SR.

James E. Altmeyer, Sr.

Director of CONSOL Energy Inc., the sole memberSole Owner of CONSOL Energy HoldingsMining Holding Company LLC VI

/S/ WILLIAM E. DAVIS

William E. Davis

  Director of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VIManagerNovember 20, 2015

II-34


Signature

Title

/S/    RAJ K. GUPTA        

Raj K. Gupta

Director of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI

/S/    PATRICIA A. HAMMICK        

Patricia A. Hammick

Director of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI

/S/    DAVID C. HARDESTY, JR.        

David C. Hardesty, Jr.

Director of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI

/S/    JOHN T. MILLS        

John T. Mills

Director of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI

/S/    WILLIAM P. POWELL        

William P. Powell

Director of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI

/S/    JOSEPH T. WILLIAMS        

Joseph T. Williams

Director of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI

/S/    PHILIP W. BAXTER        

Philip W. Baxter

Lead Independent Director of CONSOL Energy Inc., the sole member of CONSOL Energy Holdings LLC VI

II-35


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CONSOL Energy Sales CompanyOF CANADA INC.

By:

 

/S/ ROBERT F. PUSATERIs/ James C. Grech

 Robert F. PusateriJames C. Grech
 President Chief Executive Officer and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of CONSOL Energy Sales Company,of Canada Inc., a Delaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT F. PUSATERIs/ James C. Grech

Robert F. PusateriJames C. Grech

  

President Chief Executive Officer and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ David M. Khani     

William J. LyonsDavid M. Khani

  Director (Principal Financial

Vice President, Controller and Director

(Principal Accounting Officer)

November 20, 2015

/S/ J. BRETT HARVEYs/ Steven T. Aspinall

J. Brett HarveySteven T. Aspinall

  Director

Treasurer

(Principal Financial Officer)

November 20, 2015

/S/ NICHOLAS J. DEIULIISs/ Stephen W. Johnson

Nicholas J. DeIuliisStephen W. Johnson

  Vice President and Director

/S/ BART J. HYITA

Bart J. Hyita

 Director

/S/ P. JEROME RICHEY

P. Jerome Richey

Director

/S/ ROBERT P. KING

Robert P. King

DirectorNovember 20, 2015

II-36


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Wilmington,Pittsburgh, State of Delaware,Pennsylvania, on August 4, 2011.November 20, 2015.

 

CONSOL Financial Inc.OF CENTRAL PENNSYLVANIA LLC

By:

 

/S/ DONALD J. BROMLEYs/ James A. Brock

 Donald J. BromleyJames A. Brock
 President and Manager

POWER OF ATTORNEYEach of the undersigned managers and officers of CONSOL of Central Pennsylvania LLC, a Pennsylvania limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James A. Brock

James A. Brock

President and Manager

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial Officer)

November 20, 2015

/s/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ David M. Khani

David M. Khani

Manager

November 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Manager

November 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

CONSOL OF KENTUCKY INC.
By:

/s/ James A. Brock

James A. Brock
President

Each of the undersigned directors and officers of CONSOL Financialof Kentucky Inc., a Delaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ DONALD J. BROMLEYs/ James A. Brock

Donald J. BromleyJames A. Brock

  

President (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ C. Kristopher Hagedorn

William J. LyonsC. Kristopher Hagedorn

  Director (Principal Financial

Vice President, Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/S/ JAMES A. BROCKs/ Steven T. Aspinall

James A. BrockSteven T. Aspinall

  Director

Treasurer

(Principal Financial Officer)

November 20, 2015

/S/ CHRISTOPHERs/ James C. JONESGrech

ChristopherJames C. JonesGrech

  

Vice President and Director

November 20, 2015

/s/ David M. Khani

David M. Khani

Director

November 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Director

November 20, 2015

II-37


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CONSOL of Canada Inc.OF OHIO LLC

By:

 

/S/ ROBERT F. PUSATERIs/ James A. Brock

 Robert F. PusateriJames A. Brock
 President, Chief Executive Officer and DirectorManager

POWER OF ATTORNEYEach of the undersigned managers and officers of CONSOL of Ohio LLC, an Ohio limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James A. Brock

James A. Brock

President, Chief Executive Officer and Manager

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial Officer)

November 20, 2015

/s/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ David M. Khani

David M. Khani

Vice President and Manager

November 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Manager

November 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

CNX WATER ASSETS LLC
By:

/s/ James C. Grech

James C. Grech
President and Manager

Each of the undersigned managers and officers of CNX Water Assets LLC, a West Virginia limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James C. Grech

James C. Grech

President and Manager

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/ James A. Brock

James A. Brock

ManagerNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

CONSOL PENNSYLVANIA COAL COMPANY LLC
By:

/s/ James A. Brock

James A. Brock
President

Each of the undersigned managers and officers of Consol Pennsylvania Coal Company LLC, a Delaware limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James A. Brock

James A. Brock

President

(Principal Executive Officer)

November 20, 2015

/s/ David M. Khani

David M. Khani

Vice President, Comptroller and Manager

(Principal Financial and Accounting Officer)

November 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Vice President, Secretary and ManagerNovember 20, 2015

/s/ James C. Grech

James C. Grech

Vice President and Manager

November 20, 2015

/s/ Nicholas J. DeIuliis

Nicholas J. DeIuliis

Manager

November 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

FOLA COAL COMPANY, L.L.C.
By:

/s/ James C. Grech

James C. Grech
President and Manager

Each of the undersigned managers and officers of Fola Coal Company, L.L.C., a West Virginia limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James C. Grech

James C. Grech

President and Manager

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/ James A. Brock

James A. Brock

ManagerNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

GLAMORGAN COAL COMPANY, L.L.C.
By:

/s/ James A. Brock

James A. Brock
President and Manager

Each of the undersigned managers and officers of Glamorgan Coal Company, L.L.C., a Virginia limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James A. Brock

James A. Brock

President and Manager

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/ James C. Grech

James C. Grech

Vice President and ManagerNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

HELVETIA COAL COMPANY
By:

/s/ James A. Brock

James A. Brock
President

Each of the undersigned directors and officers of CONSOL of Canada Inc.,Helvetia Coal Company, a DelawarePennsylvania corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT F. PUSATERIs/ James A. Brock

Robert F. PusateriJames A. Brock

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ NICHOLAS J. DEIULIISs/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Vice President and DirectorNovember 20, 2015

/s/ Nicholas J. DeIuliis

Nicholas J. DeIuliis

  DirectorNovember 20, 2015

/S/ J. BRETT HARVEYs/ David M. Khani

J. Brett HarveyDavid M. Khani

  DirectorNovember 20, 2015

II-38


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CONSOL of Central Pennsylvania LLCISLAND CREEK COAL COMPANY

By:

 

/S/ BART J. HYITAs/ James A. Brock

 

Bart J. Hyita

President and Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of CONSOL of Central Pennsylvania LLC, a Pennsylvania limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said company to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President and Manager (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Manager (Principal Financial and Accounting Officer)

/S/ JAMES A. BROCK

James A. Brock

Manager

/S/ ROBERT P. KING

Robert P. King

Manager

/S/ STEPHEN W. JOHNSON

Stephen W. Johnson

Manager

II-39


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

CONSOL of Kentucky Inc.

By:

/S/ BART J. HYITA
 

Bart J. Hyita

President

POWER OF ATTORNEY

Each of the undersigned directors and officers of CONSOL of Kentucky Inc.,Island Creek Coal Company, a Delaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James A. Brock

Bart J. HyitaJames A. Brock

  

President (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/Ss/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ David M. Khani

David M. Khani

Vice President and DirectorNovember 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Vice President and DirectorNovember 20, 2015

/s/ James C. Grech

James C. Grech

Vice President and DirectorNovember 20, 2015

/s/ Nicholas J. BRETT HARVEYDeIuliis

Nicholas J. Brett HarveyDeIuliis

  Director

/S/ NICHOLAS J. DEIULIIS

Nicholas J. DeIuliis

 Director

/S/ P. JEROME RICHEY

P. Jerome Richey

DirectorNovember 20, 2015

II-40


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CONSOL of OhioAMONATE FACILITY LLC

By:

 

/S/ BART J. HYITAs/ James A. Brock

 

Bart J. Hyita

James A. Brock

President, Chairman and Chief Executive Officer and Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of CONSOL of OhioAmonate Facility LLC, an Ohioa Delaware limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said companycorporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James A. Brock

Bart J. HyitaJames A. Brock

  

President, Chairman and Chief Executive Officer and Manager (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  Manager (Principal

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/S/ ROBERT P. KINGs/ C. Kristopher Hagedorn

Robert P. KingC. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ James A. Brock

James A. Brock

President, Chairman and Chief Executive Officer of CONSOL Mining Holding Company LLC, Sole Owner of CONSOL Amonate Facility LLC

  Manager

/S/ JAMES A. BROCK

James A. Brock

 Manager

/S/ STEPHEN W. JOHNSON

Stephen W. Johnson

ManagerNovember 20, 2015

II-41


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CNX Water Assets LLC(f/k/a

CONSOL of WV LLC)AMONATE MINING

COMPANY LLC

By:

 

/S/ BART J. HYITAs/ James A. Brock

 

Bart J. Hyita

James A. Brock

President, Chairman and Manager

Chief Executive Officer

POWER OF ATTORNEY

Each of the undersigned managers and officers of CNX Water Assets LLC(f/k/CONSOL Amonate Mining Company LLC, a CONSOL of WV LLC), a West VirginiaDelaware limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said companycorporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James A. Brock

Bart J. HyitaJames A. Brock

  

President, Chairman and Manager (PrincipalChief Executive Officer

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ ROBERT P. KINGs/ C. Kristopher Hagedorn

Robert P. KingC. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ James A. Brock

James A. Brock

President, Chairman and Chief Executive Officer of CONSOL Mining Holding Company LLC, Sole Owner of CONSOL Amonate Mining Company LLC

  Manager

/S/ JAMES A. BROCK

James A. Brock

 ManagerNovember 20, 2015

 

II-42


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CONSOL of WyomingBUCHANAN MINING

COMPANY LLC

By:

 

/S/ BART J. HYITAs/ James A. Brock

James A. Brock
 

Bart J. Hyita

President, Chairman and Chief Executive

Officer and Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of CONSOL of WyomingBuchanan Mining Company LLC, a Delaware limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said companycorporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James A. Brock

Bart J. HyitaJames A. Brock

  

President, Chairman and Chief Executive Officer and Manager (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ ROBERT P. KINGs/ C. Kristopher Hagedorn

Robert P. KingC. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ James A. Brock

James A. Brock

President, Chairman and Chief Executive Officer of CONSOL Mining Holding Company LLC, Sole Owner of CONSOL Buchanan Mining Company LLC

  ManagerNovember 20, 2015

II-43


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

CONSOL Pennsylvania Coal CompanyKNOX ENERGY, LLC

By:

 

/S/ BART J. HYITAs/ Timothy C. Dugan

 Bart J. HyitaTimothy C. Dugan
 President andChief Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of CONSOL Pennsylvania Coal CompanyKnox Energy, LLC, a DelawareTennessee limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said companycorporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ Timothy C. Dugan

Bart J. HyitaTimothy C. Dugan

  President and

Chief Manager (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ J. BRETT HARVEYs/ Timothy C. Dugan

J. Brett HarveyTimothy C. Dugan

President, Chief Executive Officer and Manager of CNX Gas Company LLC, Sole Member of Knox Energy, LLC

  Manager

/S/ NICHOLAS J. DEIULIIS

Nicholas J. DeIuliis

 Manager

/S/ P. JEROME RICHEY

P. Jerome Richey

ManagerNovember 20, 2015

II-44


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Consolidation Coal CompanyLAUREL RUN MINING COMPANY

By:

 

/S/ BART J. HYITAs/ James A. Brock

 Bart J. HyitaJames A. Brock
 President, Chairman and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Consolidation CoalLaurel Run Mining Company, a DelawareVirginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James A. Brock

Bart J. HyitaJames A. Brock

  

President, Chairman and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  Director (Principal

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/Ss/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ David M. Khani

David M. Khani

Vice President and DirectorNovember 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Vice President and DirectorNovember 20, 2015

/s/ James C. Grech

James C. Grech

Vice President and DirectorNovember 20, 2015

/s/ Nicholas J. BRETT HARVEYDeIuliiss

Nicholas J. Brett HarveyDeIuliis

  Director

/S/ NICHOLAS J. DEIULIIS

Nicholas J. DeIuliis

 Director

/S/ P. JEROME RICHEY

P. Jerome Richey

Director

/S/ ROBERT P. KING

Robert P. King

Director

/S/ ROBERT F. PUSATERI

Robert F. Pusateri

DirectorNovember 20, 2015

 

II-45


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Eighty-Four Mining CompanyLEATHERWOOD, INC.

By:

 

/S/ BART J. HYITAs/ James C. Grech

 Bart J. HyitaJames C. Grech
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Eighty-Four Mining Company,Leatherwood, Inc., a Pennsylvania corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James C. Grech

Bart J. HyitaJames C. Grech

  

President (Principaland Director

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ NICHOLAS J. DEIULIISs/ C. Kristopher Hagedorn

Nicholas J. DeIuliisC. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ David Khani

David Khani

  DirectorNovember 20, 2015

/S/s/ Nicholas J. BRETT HARVEYDeIuliis

Nicholas J. Brett HarveyDeIuliis

  Director

/S/ P. JEROME RICHEY

P. Jerome Richey

 DirectorNovember 20, 2015

II-46


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Fola Coal Company,LITTLE EAGLE COAL COMPANY, L.L.C.

By:

 

/S/ ROBERT P. KINGs/ James C. Grech

 Robert P. KingJames C. Grech
 President and Director

POWER OF ATTORNEY

Each of the undersigned managersdirectors and officers of FolaLittle Eagle Coal Company, L.L.C., a West Virginia limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said company to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ ROBERT P. KING

Robert P. King

President (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

/S/ BART J. HYITA

Bart J. Hyita

Manager

/S/ JAMES A. BROCK

James A. Brock

Manager

II-47


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Glamorgan Coal Company, L.L.C.

By:

/S/ BART J. HYITA
Bart J. Hyita
President and Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of Glamorgan Coal Company, L.L.C., a Virginia limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said company to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President and Manager (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

/S/ ROBERT P. KING

Robert P. King

Manager

/S/ JAMES A. BROCK

James A. Brock

Manager

II-48


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Helvetia Coal Company

By:

/S/ BART J. HYITA
Bart J. Hyita
President

POWER OF ATTORNEY

Each of the undersigned directors and officers of Helvetia Coal Company, a Pennsylvania corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James C. Grech

Bart J. HyitaJames C. Grech

  

President (Principaland Director

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  Director (Principal

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/S/ NICHOLAS J. DEIULIISs/ James A. Brock

Nicholas J. DeIuliisJames A. Brock

  Director

/S/ J. BRETT HARVEY

J. Brett Harvey

 Director

/S/ STEPHEN W. JOHNSON

Stephen W. Johnson

DirectorNovember 20, 2015

 

II-49


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Island Creek Coal CompanyMOB CORPORATION
By: 

/S/ BART J. HYITAs/ Timothy C. Dugan

 Bart J. HyitaTimothy C. Dugan
 President

POWER OF ATTORNEY

Each of the undersigned directors and officers of Island Creek Coal Company,MOB Corporation, a DelawarePennsylvania corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ Timothy C. Dugan

Bart J. HyitaTimothy C. Dugan

  

President (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Director (PrincipalTreasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/S/ J. BRETT HARVEYs/ Stephen W. Johnson

J. Brett HarveyStephen W. Johnson

  

Director

November 20, 2015

/S/ NICHOLAS J. DEIULIISs/ Michael C. Hardoby

Nicholas J. DeIuliisMichael C. Hardoby

  

Director

November 20, 2015

/S/ P. JEROME RICHEYs/ James C. Grech

P. Jerome RicheyJames C. Grech

  

Director

November 20, 2015

II-50


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Keystone Coal Mining CorporationMTB INC.
By: 

/S/ BART J. HYITAs/ James C. Grech

 Bart J. HyitaJames C. Grech
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Keystone Coal Mining Corporation,MTB Inc., a PennsylvaniaDelaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James C. Grech

Bart J. HyitaJames C. Grech

  

President (Principaland Director

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Director (PrincipalTreasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/S/ J. BRETT HARVEYs/ C. Kristopher Hagedorn

J. Brett HarveyC. Kristopher Hagedorn

  

DirectorController and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/S/ NICHOLAS J. DEIULIISs/ James A. Brock

Nicholas J. DeIuliisJames A. Brock

  DirectorNovember 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Director

November 20, 2015

II-51


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Knox Energy, LLCNICHOLAS-CLAY LAND & MINERAL, INC.
By: 

/S/ NICHOLAS J. DEIULIISs/ James C. Grech

 Nicholas J. DeIuliisJames C. Grech
 

President, Chief Executive Officer and Manager of

CNX Gas Company LLC, the sole member of

Knox Energy, LLC

POWER OF ATTORNEY

Each of the undersigned managers and officers of the sole member of Knox Energy, LLC, a Tennessee limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said company to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ NICHOLAS J. DEIULIIS

Nicholas J. DeIuliis

President, Chief Executive Officer and Manager of CNX Gas Company LLC, the sole member of Knox Energy, LLC (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Executive Vice President and Chief Financial Officer of CNX Gas Company LLC, the sole member of Knox Energy, LLC (Principal Financial and Accounting Officer)

/S/ J. BRETT HARVEY

J. Brett Harvey

Manager of CNX Gas Company LLC, the sole member of Knox Energy, LLC

/S/ RANDALL M. ALBERT

Randall M. Albert

Manager of CNX Gas Company LLC, the sole member of Knox Energy, LLC

/S/ STEPHEN W. JOHNSON

Stephen W. Johnson

Manager of CNX Gas Company LLC, the sole member of Knox Energy, LLC

II-52


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Laurel Run Mining Company
By:/S/ BART J. HYITA
Bart J. Hyita
President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Laurel Run Mining Company,Nicholas-Clay Land & Mineral, Inc., a Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James C. Grech

Bart J. HyitaJames C. Grech

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Director (PrincipalTreasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/S/ J. BRETT HARVEYs/ James A. Brock

J. Brett HarveyJames A. Brock

  

Director

November 20, 2015

/S/ NICHOLASs/ James J. DEIULIISMcCaffrey

NicholasJames J. DeIuliisMcCaffrey

  

Director

/S/ STEPHEN W. JOHNSON

Stephen W. Johnson

 

Director

November 20, 2015

II-53


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Leatherwood, Inc.PANDA BAMBOO HOLDINGS, INC.
By: 

/S/ ROBERT P. KINGs/ James C. Grech

 Robert P. KingJames C. Grech
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Leatherwood,Panda Bamboo Holdings, Inc., a PennsylvaniaDelaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James C. Grech

Robert P. KingJames C. Grech

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ David M. Khani

William J. LyonsDavid M. Khani

  

Treasurer and Director

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ J. BRETT HARVEYs/ C. Kristopher Hagedorn

J. Brett HarveyC. Kristopher Hagedorn

  

DirectorController

(Principal Accounting Officer)

November 20, 2015

/S/ NICHOLAS J. DEIULIISs/ Stephen W. Johnson

Nicholas J. DeIuliisStephen W. Johnson

  

Vice President and Director

November 20, 2015

/S/ RANDALL M. ALBERTs/ Nicholas J. DeIuliis

Randall M. AlbertNicholas J. DeIuliis

  

Director

November 20, 2015

II-54


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act orof 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Little Eagle Coal Company, L.L.C.PAROS CORP.
By: 

/S/ ROBERT P. KINGs/ James C. Grech

 Robert P. KingJames C. Grech
 President and Director

POWER OF ATTORNEY

Each of the undersigned managers and officers of Little Eagle Coal Company, L.L.C., a West Virginia limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said company to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ ROBERT P. KING

Robert P. King

President (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

/S/ BART J. HYITA

Bart J. Hyita

Manager

/S/ JAMES A. BROCK

James A. Brock

Manager

II-55


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

McElroy Coal Company
By:/S/ BART J. HYITA
Bart J. Hyita
President

POWER OF ATTORNEY

Each of the undersigned directors and officers of McElroy Coal Company,Paros Corp., a Delaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ BART J. HYITAs/ James C. Grech

Bart J. HyitaJames C. Grech

  

President (Principaland Director

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ David M. Khani

William J. LyonsDavid M. Khani

  

Treasurer and Director

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ P. JEROME RICHEYs/ C. Kristopher Hagedorn

P. Jerome RicheyC. Kristopher Hagedorn

Controller

(Principal Accounting Officer)

November 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Vice President and Director

November 20, 2015

/s/ Nicholas J. DeIuliis

Nicholas J. DeIuliis

  

Director

/S/ J. BRETT HARVEY

J. Brett Harvey

 

Director

/S/ NICHOLAS J. DEIULIIS

Nicholas J. DeIuliis

Director

November 20, 2015

II-56


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

MOB CorporationPETERS CREEK MINERAL SERVICES, INC.
By: 

/S/ RANDALL M. ALBERTs/ James C. Grech

 Randall M. AlbertJames C. Grech
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of MOB Corporation,Peters Creek Mineral Services, Inc., a PennsylvaniaVirginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ RANDALL M. ALBERTs/ James C. Grech

Randall M. AlbertJames C. Grech

  

President (Principaland Director

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ STEPHEN W. JOHNSONs/ David M. Khani

Stephen W. JohnsonDavid M. Khani

  

Director

/S/ M. CHARLES HARDOBY

M. Charles Hardoby

 

Director

/S/ ROBERT M. BELESKY

Robert M. Belesky

Director

November 20, 2015

II-57


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Mon River Towing, Inc.R&PCC LLC
By: 

/S/ ROBERT F. PUSATERIs/ James C. Grech

 Robert F. PusateriJames C. Grech
 President

Each of the undersigned managers and officers of R&PCC LLC, a Pennsylvania limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James C. Grech

James C. Grech

President

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial Officer)

November 20, 2015

/s/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ James A. Brock

James A. Brock

President, Chairman and Chief Executive Officer of

CONSOL Mining Holding Company, Sole Owner of R&PCC LLC

ManagerNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

TEAGLE COMPANY, L.L.C.
By:

/s/ James A. Brock

James A. Brock
President and Manager

Each of the undersigned managers and officers of TEAGLE Company, L.L.C., a Virginia limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James A. Brock

James A. Brock

President and Manager

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/ James C. Grech

James C. Grech

Vice President and Manager

November 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

TECPART CORPORATION
By:

/s/ James A. Brock

James A. Brock
President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Mon River Towing, Inc.,TECPART Corporation, a PennsylvaniaDelaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT F. PUSATERIs/ James A. Brock

Robert F. PusateriJames A. Brock

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Director (PrincipalTreasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/S/ JAMES J. MCCAFFREYs/ James C. Grech

James J. McCaffreyC. Grech

  Vice President and DirectorNovember 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Vice President and Director

November 20, 2015

II-58


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

MTB Inc.TERRA FIRMA COMPANY
By: 

/S/ ROBERT P. KINGs/ James C. Grech

 Robert P. KingJames C. Grech
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of MTB Inc.,Terra Firma Company, a Delaware corporation,West Virginia Corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James C. Grech

Robert P. KingJames C. Grech

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ BART J. HYITAs/ C. Kristopher Hagedorn

Bart J. HyitaC. Kristopher Hagedorn

  

Director

/S/ STEPHEN W. JOHNSONController and Assistant Secretary

Stephen W. Johnson(Principal Accounting Officer)

 

Director

November 20, 2015

II-59


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Nicholas-Clay Land & Mineral, Inc.TERRY EAGLE COAL COMPANY, L.L.C.
By: 

/S/ ROBERT P. KINGs/ James A. Brock

 Robert P. KingJames A. Brock
 President and DirectorManager

POWER OF ATTORNEYEach of the undersigned managers and officers of Terry Eagle Coal Company, L.L.C., a West Virginia limited liability company, do hereby constitute and appoint Nicholas J. DeIuliis, David M. Khani, Stephen W. Johnson and James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

Signature

Title

Date

/s/ James A. Brock

James A. Brock

President and Manager

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial and Accounting Officer)

November 20, 2015

/s/ James C. Grech

James C. Grech

Vice President and ManagerNovember 20, 2015


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, State of Pennsylvania, on November 20, 2015.

TERRY EAGLE LIMITED PARTNERSHIP
By:

/s/ James A. Brock

James A. Brock

President and Manager of TEAGLE

Company, L.L.C.

Each of the undersigned directors and officers of Nicholas-Clay Land & Mineral, Inc.,Terry Eagle Limited Partnership, a West Virginia corporation,limited partnership, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James A. Brock

Robert P. KingJames A. Brock

President and Manager of TEAGLE Company, L.L.C, General Partner of Terry Eagle Limited Partnership

  

President and Director (Principal Executive Officer)

General Partner
November 20, 2015

/S/ WILLIAM J. LYONSs/ James A. Brock

William J. LyonsJames A. Brock

President and Director of TECPART CORPORATION, General Partner of Terry Eagle Limited Partnership

  

Principal Financial and Accounting Officer

General Partner
November 20, 2015

/S/ BART J. HYITAs/ Stephen W. Johnson

Bart J. HyitaStephen W. Johnson

Vice President and Director of TECPART CORPORATION, General Partner of Terry Eagle Limited Partnership

  

Director

/S/ JAMES A. BROCK

James A. Brock

General Partner
 

Director

/S/ JAMES J. MCCAFFREY

James J. McCaffrey

Director

November 20, 2015

II-60


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended,, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Peters Creek Mineral Services, Inc.VAUGHN RAILROAD COMPANY
By: 

/S/ ROBERT P. KINGs/ James A. Brock

 Robert P. KingJames A. Brock
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Peters Creek Mineral Services, Inc.,Vaughn Railroad Company, a West Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James A. Brock

Robert P. KingJames A. Brock

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ BART J. HYITAs/ James C. Grech

Bart J. HyitaJames C. Grech

  

Vice President and Director

November 20, 2015

/S/ ROBERTs/ David M. BELESKYKhani

RobertDavid M. BeleskyKhani

  

Director

November 20, 2015

II-61


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Reserve Coal Properties CompanyWINDSOR COAL COMPANY
By: 

/S/ ROBERT P. KINGs/ James A. Brock

 Robert P. KingJames A. Brock
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of ReserveWindsor Coal Properties Company, a DelawareWest Virginia corporation,, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

 

Signature

  

Title

Date

/S/ ROBERT P. KINGs/ James A. Brock

Robert P. KingJames A. Brock

  

President and Director (Principal

(Principal Executive Officer)

November 20, 2015

/S/ WILLIAM J. LYONSs/ Steven T. Aspinall

William J. LyonsSteven T. Aspinall

  

Treasurer

(Principal Financial and Accounting OfficerOfficer)

November 20, 2015

/S/ J. BRETT HARVEYs/ C. Kristopher Hagedorn

J. Brett HarveyC. Kristopher Hagedorn

  

DirectorController and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/S/ ROBERT M. BELESKYs/ Stephen W. Johnson

Robert M. BeleskyStephen W. Johnson

  Vice President and DirectorNovember 20, 2015

/s/ James C. Grech

James C. Grech

Vice President and DirectorNovember 20, 2015

/s/ Nicholas J. DeIuliis

Nicholas J. DeIuliis

DirectorNovember 20, 2015

/s/ David M. Khani

David M. Khani

DirectorNovember 20, 2015

II-62


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrantregistrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, CommonwealthState of Pennsylvania, on August 4, 2011.November 20, 2015.

 

Rochester & Pittsburgh Coal CompanyWOLFPEN KNOB DEVELOPMENT COMPANY
By: 

/S/ ROBERT P. KINGs/ James C. Grech

 Robert P. KingJames C. Grech
 President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Rochester & Pittsburgh CoalWolfpen Knob Development Company, a PennsylvaniaVirginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome RicheyDavid M. Khani, Stephen W. Johnson and Robert P. King,James C. Grech, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:and on the dates indicated.

Signature

Title

Date

/s/ James C. Grech

James C. Grech

President and Director

(Principal Executive Officer)

November 20, 2015

/s/ Steven T. Aspinall

Steven T. Aspinall

Treasurer

(Principal Financial Officer)

November 20, 2015

/s/ C. Kristopher Hagedorn

C. Kristopher Hagedorn

Controller and Assistant Secretary

(Principal Accounting Officer)

November 20, 2015

/s/ Stephen W. Johnson

Stephen W. Johnson

Vice President and DirectorNovember 20, 2015

/s/ David M. Khani

David M. Khani

DirectorNovember 20, 2015


EXHIBIT INDEX

 

SignatureExhibit
Number

  

TitleDescription

  3.1Restated Certificate of Incorporation of CONSOL Energy Inc., incorporated by reference to Exhibit 3.1 to Form 8-K (file no. 001-14901), filed on May 8, 2006.

/S/ ROBERT P. KING

Robert P. King

  3.2
  

PresidentAmended and Director (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Director (Principal Financial and Accounting Officer)

/S/ J. BRETT HARVEY

J. Brett Harvey

Director

/S/ P. JEROME RICHEY

P. Jerome Richey

Director

II-63


SIGNATURES

TO FORM S-4

Pursuant to the requirementsRestated Bylaws of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Southern Ohio Coal Company

By:

/S/ BART J. HYITA

Bart J. Hyita

President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Southern Ohio Coal Company, a West Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President (Principal Executive Officer) and Director

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

/S/ ROBERT P. KING

Robert P. King

Director

/S/ JAMES A. BROCK

James A. Brock

Director

II-64


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

TEAGLE Company, L.L.C.

By:

/S/ BART J. HYITA

Bart J. Hyita

President and Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of TEAGLE Company, L.L.C., a Virginia limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said company to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President and Manager (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

/S/ ROBERT P. KING

Robert P. King

Manager

/S/ JAMES A. BROCK

James A. Brock

Manager

II-65


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

TECPART Corporation

By:

/S/ BART J. HYITA

Bart J. Hyita

President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of TECPART Corporation, a Delaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President and Director (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

/S/ ROBERT P. KING

Robert P. King

Director

/S/ JAMES A. BROCK

James A. Brock

Director

II-66


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Terra Firma Company

By:

/S/ ROBERT P. KING

Robert P. King

President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Terra Firma Company, a West Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ ROBERT P. KING

Robert P. King

President and Director (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

II-67


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Terry Eagle Coal Company, L.L.C.

By:

/S/ BART J. HYITA

Bart J. Hyita

President and Manager

POWER OF ATTORNEY

Each of the undersigned managers and officers of Terry Eagle Coal Company, L.L.C., a West Virginia limited liability company, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said company to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President and Manager (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

/S/ ROBERT P. KING

Robert P. King

Manager

/S/ JAMES A. BROCK

James A. Brock

Manager

II-68


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Terry Eagle Limited Partnership

By:

/S/ BART J. HYITA

Bart J. Hyita

President and Manager of TEAGLE Company,

L.L.C., General Partner of Terry Eagle Limited

Partnership

By:

/S/ BART J. HYITA

Bart J. Hyita

President and Director of TECPART Corporation,

General Partner of Terry Eagle Limited Partnership

POWER OF ATTORNEY

Each of the undersigned managers, officers and directors, as indicated below, of the general partners of Terry Eagle Limited Partnership, a West Virginia limited partnership, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as managers, officers and directors and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said limited partnership to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President and Manager of TEAGLE Company, L.L.C., General Partner of Terry Eagle Limited Partner; (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

/S/ ROBERT P. KING

Robert P. King

Manager of TEAGLE Company, L.L.C., General Partner of Terry Eagle Limited Partner

II-69


Signature

Title

/S/    JAMES A. BROCK        

James A. Brock

Manager of TEAGLE Company, L.L.C., General Partner of Terry Eagle Limited Partner

/S/    ROBERT P. KING        

Robert P. King

Director of TECPART Corporation, General Partner of Terry Eagle Limited Partner

/S/    JAMES A. BROCK        

James A. Brock

Director of TECPART Corporation, General Partner of Terry Eagle Limited Partner

/S/    BART J. HYITA        

Bart J. Hyita

President and Director of TECPART Corporation, General Partner of Terry Eagle Limited Partner

II-70


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Twin Rivers Towing Company

By:

/S/ ROBERT F. PUSATERI

Robert F. Pusateri

President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Twin Rivers Towing Company, a Delaware corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ ROBERT F. PUSATERI

Robert F. Pusateri

President and Director (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Principal Financial and Accounting Officer

/S/ JAMES J. MCCAFFREY

James J. McCaffrey

Director

/S/ P. JEROME RICHEY

P. Jerome Richey

Director

II-71


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Vaughan Railroad Company

By:

/S/ BART J. HYITA

Bart J. Hyita

President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Vaughan Railroad Company, a West Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President (Principal Executive Officer) and Director

/S/ WILLIAM J. LYONS

William J. Lyons

Director (Principal Financial and Accounting Officer)

/S/ ROBERT F. PUSATERI

Robert F. Pusateri

Director

II-72


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Windsor Coal Company

By:

/S/ BART J. HYITA

Bart J. Hyita

President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Windsor Coal Company, a West Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ BART J. HYITA

Bart J. Hyita

President and Director (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Director (Principal Financial and Accounting Officer)

/S/ J. BRETT HARVEY

J. Brett Harvey

Director

/S/ NICHOLAS J. DEIULIIS

Nicholas J. DeIuliis

Director

/S/ P. JEROME RICHEY

P. Jerome Richey

Director

II-73


SIGNATURES

TO FORM S-4

Pursuant to the requirements of the Securities Act of 1933, as amended, the Registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Pittsburgh, Commonwealth of Pennsylvania, on August 4, 2011.

Wolfpen Knob Development Company

By:

/S/ ROBERT P. KING

Robert P. King

President and Director

POWER OF ATTORNEY

Each of the undersigned directors and officers of Wolfpen Knob Development Company, a Virginia corporation, do hereby constitute and appoint J. Brett Harvey, Nicholas J. DeIuliis, William J. Lyons, P. Jerome Richey and Robert P. King, or any one of them, the undersigned’s true and lawful attorneys and agents, with full power of substitution and resubstitution in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments, whether pursuant to Rule 462(b) or otherwise) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed below as of August 4, 2011 by the following persons in the capacities indicated:

Signature

Title

/S/ ROBERT P. KING

Robert P. King

President and Director (Principal Executive Officer)

/S/ WILLIAM J. LYONS

William J. Lyons

Director (Principal Financial and Accounting Officer)

/S/ J. BRETT HARVEY

J. Brett Harvey

Director

II-74


EXHIBIT INDEX

    2.1Purchase and Sale Agreement by and among Dominion Resources, Inc., Dominion Transmission, Inc. and Dominion Energy Inc. and CONSOL Energy Holdings LLC VIInc., dated as of March 14, 2010,December 9, 2014, incorporated by reference to Exhibit 2.13.1 to Form 8-K (file no. 001-14901), filed on March 16, 2010.December 10, 2014.
  4.1  Indenture, dated as of March 9, 2011,30, 2015, by and among CONSOL Energy Inc., certain subsidiaries of CONSOL Energy Inc.the subsidiary guarantors named therein and TheWells Fargo Bank, of Nova Scotia Trust Company of New York,National Association, as trustee, with respect to 6.375%the 8.000% Senior Notes due 2021,2023, incorporated by reference to Exhibit 4.1 to Form 8-K(file no. 001-14901), filed on March 11, 2011.30, 2015.
  4.2  Registration Rights Agreement, dated as of March 9, 2011, incorporated30, 2015, by and among CONSOL Energy Inc., the subsidiary guarantors named therein and Goldman, Sachs & Co., as representative of the initial purchasers (incorporated by reference to Exhibit 4.2 to Form 8-K (file no. 001-14901), filed on March 11, 2011.30, 2015.
    5.1**5.1  OpinionLegal opinion of Buchanan IngersollLatham & RooneyWatkins LLP as to the legality of the securities being registered.
    5.2**5.2  OpinionLegal opinion of McGuire Woods LLPBuchanon Ingersoll & Rooney PC as to the legality of the guarantees by the Pennsylvania guarantors.
    5.3**5.3  OpinionLegal opinion of McGuireWoods LLP as to the legality of the guarantees by the Virginia guarantors.
*5.4Legal opinion of Steptoe & Johnson PLLC as to the legality of the guarantees by the Ohio and West Virginia guarantors.
*5.5Legal opinion of Wagner, Myers & Sanger, P.C. as to the legality of the guarantees by the Tennessee guarantors.
    5.4*10.1  OpinionPurchase and Sale Agreement, dated as of Thompson Hine LLPApril 30, 2003, by and among CONSOL Energy Inc., CONSOL Sales Company, CONSOL of Kentucky Inc., CONSOL Pennsylvania Coal Company, Consolidation Coal Company, Island Creek Coal Company, Windsor Coal Company, McElroy Coal Company, Keystone Coal Mining Corporation, Eighty-Four Mining Company, CNX Gas Company LLC, CNX Marine Terminals Inc. and CNX Funding Corporation, incorporated by reference to Exhibit 10.30 to Form 10-Q (file no. 001-14901) for the quarter ended June 30, 2003, filed on August 13, 2003.
    5.5*10.2  OpinionFirst Amendment to Purchase and Sale Agreement dated as of Steptoe & Johnson PLLC
  12.1ComputationApril 30, 2007, entered into among CONSOL Energy Inc., CONSOL Energy Sales Company, CONSOL of Ratio of Earnings to Fixed ChargesKentucky Inc., CONSOL Pennsylvania Coal Company, Consolidation Coal Company, Island Creek Coal Company, Windsor Coal Company, McElroy Coal Company, Keystone Coal Mining Corporation, Eighty-Four Mining Company and CNX Marine Terminals Inc., each an “Originator” and CNX Funding Corporation, incorporated by reference to Exhibit 1210.31 to Form 10-K for the year endingended December 31, 2007 (file no. 001-14901), filed on February 19, 2008.
10.3Second Amendment to Purchase and Sale Agreement dated as of November 16, 2007, entered into among CONSOL Energy Inc. (“CONSOL Energy”), CONSOL Energy Sales Company, CONSOL of Kentucky Inc., Consol Pennsylvania Coal Company LLC, Consolidation Coal Company, Island Creek Coal Company, McElroy Coal Company, Keystone Coal Mining Corporation, Eighty-Four Mining Company and CNX Marine Terminals Inc. (each an “Existing Originator”) and collectively the “Existing Originators”), Fola Coal Company, LLC., Little Eagle Coal Company, LLC., Mon River Towing, Inc., Terry Eagle Coal Company, LLC., Tri-River Fleeting Harbor Service, Inc., and Twin Rivers Towing Company (each, a “New Originator” and collectively the “New Originators”; the Existing Originators and the New Originators, each an “Originator” and collectively, the


“Originators”), Windsor Coal Company (the “Released Originator”) and CNX Funding Corporation, incorporated by reference to Exhibit 10.32 to Form 10-K for the year ended December 31, 2007 (file no. 001-14901), filed on February 19, 2008.
  10.4Third Amendment to the Purchase and Sale Agreement, dated as of March 12, 2010, among CNX Marine Terminals Inc., CONSOL Energy Inc., CONSOL Energy Sales Company, CONSOL of Kentucky Inc., CONSOL Pennsylvania Coal Company LLC, Consolidated Coal Company, Eighty-Four Mining Company, Fola Coal Company, L.L.C., Island Creek Coal Company, Keystone Coal Mining Corporation, Little Eagle Coal Company, L.L.C., McElroy Coal Company, Mon River Towing, Inc., Terry Eagle Coal Company, L.L.C., Twin Rivers Towing Company and CNX Funding Corporation, incorporated by reference to Exhibit 10.6 to Form 8-K (file no. 001-14901) filed on March 16, 2010.
  10.5Services Agreement, dated as of April 1, 2010, by and among CONSOL Energy Inc. and its subsidiaries (other than CNX Gas Corporation and its subsidiaries) and (b) CNX Gas Corporation and its subsidiaries, incorporated by reference to Exhibit 99(D)(11) of the Schedule TO filed on April 28, 2010.
  10.6Amended and Restated Receivable Purchase Agreement, dated as of April 30, 2007, by and among CNX Funding Corporation, CONSOL Energy Inc., CONSOL Energy Sales Company, CONSOL of Kentucky Inc., CONSOL Pennsylvania Coal Company, Consolidation Coal Company, Island Creek Coal Company, Windsor Coal Company, McElroy Coal Company, Keystone Coal Mining Corporation, Eighty-Four Mining Company, CNX Marine Terminals Inc., Market Street Funding LLC, Liberty Street Funding LLC, PNC Bank, National Association, and the Bank of Nova Scotia, incorporated by reference to Exhibit 10.33 to Form 10-K for the year ended December 31, 2007 (file no. 001-14901), filed on February 19, 2008.
  10.7First Amendment to Amended and Restated Receivables Purchase Agreement, dated as of May 9, 2007, entered into among CNX Funding Corporation, CONSOL Energy Inc., as the initial Servicer, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto and PNC Bank, National Association, as Administrator and as LC Bank, incorporated by reference to Exhibit 10.34 to Form 10-K for the year ended December 31, 2007 (file no. 001-14901), filed on February 19, 2008.
  10.8Second Amendment to Amended and Restated Receivables Purchase Agreement, dated as of July 27, 2007, entered into among CNX Funding Corporation, CONSOL Energy Inc., as the initial Servicer (in such capacity, the “Servicer”), the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto and PNC Bank, National Association, as Administrator and as LC Bank, incorporated by reference to Exhibit 10.35 to Form 10-K for the year ended December 31, 2007 (file no. 001-14901), filed on February 19, 2008.
  10.9Third Amendment to Amended and Restated Receivables Purchase Agreement, dated as of November 16, 2007, entered into among CNX Funding Corporation, CONSOL Energy Inc., as the initial Servicer, the various new sub-servicers listed on the signature pages thereto, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto and PNC Bank, National Association, as Administrator and as LC Bank, incorporated by reference to Exhibit 10.36 to Form 10-K for the year ended December 31, 2007 (file no. 001-14901), filed on February 19, 2008.
10.10Fourth Amendment to Amended and Restated Receivables Purchase Agreement, dated as of April 27, 2009, among CNX Funding Corporation, CONSOL Energy Inc., as the initial Servicer, the various Sub-Servicers listed on the signature pages thereto, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank, incorporated by reference to Exhibit 10.4 to Form 8-K (file no. 001-14901) filed on March 16, 2010.


10.11Fifth Amendment to Amended and Restated Receivables Purchase Agreement and Waiver, dated as of March 12, 2010, among CNX Funding Corporation, CONSOL Energy Inc., as the initial Servicer, the various Sub-Servicers listed on the signature pages thereto, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and as LC Bank, incorporated by reference to Exhibit 10.5 to Form 8-K (file no. 001-14901) filed on March 16, 2010.
10.12Sixth Amendment to Amended and Restated Receivables Purchase Agreement, dated as of April 23, 2010, among CNX Funding Corporation, CONSOL Energy Inc., as the initial Servicer, the various Sub-Servicers listed on the signature pages of the Amendment, the Conduit Purchasers listed on the signature pages of the Amendment, the Purchaser Agents listed on the signature pages of the Amendment, the LC Participants listed on the signature pages of the Amendment and PNC Bank, National Association, as Administrator and as LC Bank, incorporated by reference to Exhibit 10.13 to Form 10-K for the year ended December 31, 2010 (file no. 001-14901), filed on February 10, 2011.
  23.1*10.13  ConsentSeventh Amendment to Amended and Restated Receivables Purchase Agreement, dated as of Counsel (included in Exhibits 5.1 through 5.5 respectively)March 30, 2012, among CNX Funding Corporation, CONSOL Energy Inc., as the initial Servicer, the various Sub-Servicers listed on the signature pages of the Amendment, the Conduit Purchasers listed on the signature pages of the Amendment, the Purchaser Agents listed on the signature pages of the Amendment, the LC Participants listed on the signature pages of the Amendment and PNC Bank, National Association, as Administrator and as LC Bank, incorporated by reference to Exhibit 10.5 to Form 10-Q for the quarter ended March 31, 2012 (file no. 001-14901), filed on April 30, 2012.
  23.2*10.14Eighth Amendment to Amended and Restated Receivables Purchase Agreement, dated November 8, 2012, by and among CNX Funding Corporation, as Seller, CONSOL Energy Inc., as the initial Servicer, the Sub-Servicers listed on the signature pages thereto, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and LC Bank, incorporated by reference to Exhibit 10.1 to Form 10-Q for the quarter ended March 31, 2014 (file no. 001-14901), filed on May 6, 2014.
10.15Ninth Amendment to Amended and Restated Receivables Purchase Agreement, dated September 23, 2013, by and among CNX Funding Corporation, CONSOL Energy Inc., as the initial Servicer, the Sub-Servicers listed on the signature pages thereto, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto, Market Street Funding LLC, as Assignor, and PNC Bank, National Association, as Administrator, as LC Bank and as Assignee, incorporated by reference to Exhibit 10.1 of Form 10-Q (file no. 001-14901) for the quarter ended September 30, 2013, filed on November 1, 2013.
10.16Tenth Amendment to Amended and Restated Receivables Purchase Agreement, dated March 28, 2014, by and among CNX Funding Corporation, as Seller, CONSOL Energy Inc., as the initial Servicer, the Sub-Servicers listed on the signature pages thereto, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator and LC Bank, incorporated by reference to Exhibit 10.1 to Form 10-Q for the quarter ended March 31, 2014 (file no. 001-14901), filed on May 6, 2014.
10.17Eleventh Amendment to Amended and Restated Receivables Purchase Agreement, dated as of May 23, 2014, by and among CNX Funding Corporation, as seller, CONSOL Energy Inc., as the initial Servicer, the Sub-Servicers listed on the signature pages thereto, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator, and as LC Bank, incorporated by reference to Exhibit 10.2 to Form 10-Q for the quarter ended March 31, 2015 (file no. 001-14901), filed on May 5, 2015.


10.18Twelfth Amendment to Amended and Restated Receivables Purchase Agreement, dated as of March 27, 2015, by and among CNX Funding Corporation, as seller, CONSOL Energy Inc., as the initial Servicer, the Sub-Servicers listed on the signature pages thereto, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator, and as LC Bank, incorporated by reference to Exhibit 10.3 to Form 10-Q for the quarter ended March 31, 2015 (file no. 001-14901), filed on May 5, 2015.
10.19Letter Agreement re: Receivables Purchase Agreement—Dilution Ratio, dated June 21, 2012, incorporated by reference to Exhibit 10.1 to Form 10-Q for the quarter ended June 30, 2012 (file no. 001-14901), filed on August 1, 2012.
10.20Letter Agreement Re: Receivables Purchase Agreement—Delinquency Ratio and Default Ratio, dated April 18, 2014, incorporated by reference to Exhibit 10.3 to Form 10-Q for the quarter ended March 31, 2015 (file no. 001-14901), filed on May 5, 2015.
10.21Payoff and Termination Letter re: Amended and Restated Receivables Purchase Agreement, dated as of July 7, 2015, by and among CNX Funding Corporation, as seller, CONSOL Energy Inc., as the Servicer, the Sub-Servicers listed on the signature pages thereto, the Conduit Purchasers listed on the signature pages thereto, the Purchaser Agents listed on the signature pages thereto, the LC Participants listed on the signature pages thereto, and PNC Bank, National Association, as Administrator, and as LC Bank, incorporated by reference to Exhibit 10.2 to Form 10-Q for the quarter ended June 30, 2015 (file no. 001-14901), filed on July 31, 2015.
10.22Commitment Letter, dated March 14, 2010, among Banc of America Bridge LLC, Banc of America Securities LLC, PNC Bank, National Association PNC Capital Markets LLC and CONSOL Energy Inc., incorporated by reference to Exhibit 10.2 to Form 8-K (file no. 001-14901) filed on March 16, 2010.
10.23Share Tender Agreement, dated as of March 21, 2010, by and between CONSOL Energy Inc., and T. Rowe Price Associates, Inc., incorporated by reference to Exhibit 10.1 to Form 8-K(file no. 001-14901) filed on March 22, 2010 (Film No. 10695706).
10.24Amended and Restated Credit Agreement, dated as of April 12, 2011, by and among CONSOL Energy Inc., the Guarantors Party thereto, the Lenders Party thereto, PNC Bank, National Association, as the Administrative Agent, Bank of America, N.A., as the Syndication Agent, The Bank of Nova Scotia, The Royal Bank of Scotland PLC and Sovereign Bank, as the Co-Documentation Agents, and PNC Capital Markets LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as Joint Lead Arrangers, incorporated by reference to Exhibit 10.1 to Form 8-K (file no. 001-14901) filed on April 18, 2011.
10.25Amendment No. 1 to Credit Agreement, dated as of December 5, 2013, to the Amended and Restated Credit Agreement, dated as of April 12, 2011, by and among CONSOL Energy Inc., the lenders and agents party thereto and PNC Bank, National Association, as administrative agent, incorporated by reference to Exhibit 10.1 to Form 8-K (file no. 001-14901) filed on December 11, 2013.
10.26Amended and Restated Credit Agreement, dated as of June 18, 2014, by and among CONSOL Energy Inc., the lenders and agents party thereto and PNC Bank, National Association, as administrative agent, incorporated by reference to Exhibit 10.1 to Form 8-K/A (file no. 001-14901) filed on June 25, 2014.
10.27Amendment No. 1, dated as of May 22, 2015, to the Amended and Restated Credit Agreement, dated as of June 18, 2014, by and among CONSOL Energy Inc., the subsidiary guarantors party thereto and certain lenders and PNC Bank, National Association as administrative agent, incorporated by reference to Exhibit 10.1 to Form 8-K (file no. 001-14901) filed on May 26, 2015.
10.28Amended and Restated Collateral Trust Agreement, dated as of May 7, 2010, by and among CONSOL Energy Inc. and its Designated Subsidiaries, Wilmington Trust Company, as Corporate Trustee and David A. Vanaskey, as Individual Trustee, incorporated by reference to Exhibit 2.2 to Form 8-K (file no. 001-14901) filed on May 13, 2010.


10.29Amended and Restated Pledge Agreement, dated as of May 7, 2010, made and entered into by each of the pledgors listed on the signature pages thereto and each other persons and entities that become bound thereto from time to time by joinder, assumption, or otherwise and Wilmington Trust Company, as Collateral Trustee, incorporated by reference to Exhibit 2.3 to Form 8-K (file no. 001-14901) filed on May 13, 2010.
10.30Amended and Restated Security Agreement, dated as of May 7, 2010, by and among CONSOL Energy Inc., each of the parties listed on the signature pages thereto and each other persons and entities that become bound thereto from time to time by joinder, assumption, or otherwise and Wilmington Trust Company, as Collateral Trustee, incorporated by reference to Exhibit 2.4 to Form 8-K (file no. 001-14901) filed on May 13, 2010.
10.31Patent, Trademark and Copyright Security Agreement, dated as of June 27, 2007, by and among each of the pledgors listed on the signature pages thereto and each of the other persons and entities that become bound thereby from time to time by joinder, assumption, or otherwise and Wilmington Trust Company, as Collateral Trustee, incorporated by reference to Exhibit 10.20 to Form 10-K for the year ended December 31, 2010 (file no. 001-14901), filed on February 10, 2011.
10.32First Amendment to Amended and Restated Patent, Trademark and Copyright Security Agreement, dated as of May 7, 2010, by and among each of the pledgors listed on the signature pages thereto and each other persons and entities that become bound thereto from time to time by joinder, assumption, or otherwise and Wilmington Trust Company, as Collateral Trustee, incorporated by reference to Exhibit 2.5 to Form 8-K (file no. 001-14901) filed on May 13, 2010.
10.33Patent, Trademark and Copyright Assignment and Assumption, dated as of April 12, 2011, between Wilmington Trust Company as assignor and PNC Bank, National Association as assignee, incorporated by reference to Exhibit 2.1 to Form 8-K (file no. 001-14901) filed on April 18, 2011.
10.34Guaranty and Suretyship Agreement, dated as of April 30, 2003, by CONSOL Energy Inc., as guarantor in favor of CNX Funding Corporation, incorporated by reference to Exhibit 10.6 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2011, filed on May 3, 2011.
10.35Amended and Restated Continuing Agreement of Guaranty and Suretyship, dated as of May 7, 2010, jointly and severally given by each of the undersigned thereto and each of the other persons which become Guarantors thereunder from time to time in favor of PNC Bank, National Association, in its capacity as the administrative agent for the Lenders, in connection with that certain Amended and Restated Credit Agreement, as defined therein, incorporated by reference to Exhibit 10.22 toForm 10-K for the year ended December 31, 2010 (file no. 001-14901), filed on February 10, 2011.
10.36CNX Gas Continuing Agreement of Guaranty and Suretyship, dated as of April 12, 2011, by CNX Gas Corporation and certain of its subsidiaries, incorporated by reference to Exhibit 10.2 to Form 8-K (file no. 001-14901) filed on April 18, 2011.
10.37Successor Agent Agreement, dated as of April 12, 2011, by and among Wilmington Trust Company and David A. Varansky as existing agents, PNC Bank, National Association as Collateral Trustee and CONSOL Energy Inc. and certain of its subsidiaries, incorporated by reference to Exhibit 2.2 to Form 8-K (file no. 001-14901) filed on April 18, 2011.
10.38Amended and Restated Credit Agreement, dated as of April 12, 2011, by and among CNX Gas Corporation, the Guarantors Party thereto, the Lenders Party thereto, PNC Bank, National Association, as the Administrative Agent, Bank of America, N.A., as the Syndication Agent, The Bank of Nova Scotia, The Royal Bank of Scotland PLC and Wells Fargo Bank, N.A., as the Co-Documentation Agents, and PNC Capital Markets LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as Bookrunners and Joint Lead Arrangers, incorporated by reference to Exhibit 10.3 to Form 8-K (file no. 001-14901) filed on April 18, 2011.
10.39Amendment No. 1 to Credit Agreement, dated as of December 14, 2011, by and among CNX Gas Corporation, the lenders and agents party thereto and PNC Bank, National Association, as Administrative Agent, incorporated by reference to Exhibit 10.29 to Form 10-K for the year ended December 31, 2012 (file no. 01-14901), filed on February 7, 2013.


10.40Amendment No. 2 to Credit Agreement, dated as of March 12, 2013, to the Amended and Restated Credit Agreement, dated as of April 12, 2011, as amended by Amendment No. 1, dated December 14, 2011, by and among CNX Gas Corporation, the lenders and agents party thereto and PNC Bank, National Association, as administrative agent, incorporated by reference to Exhibit 10.1 of Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2013, filed on May 7, 2013.
10.41Collateral Trust Agreement, dated as of May 7, 2010, by and among CNX Gas Corporation, its Designated Subsidiaries, Wilmington Trust Company, as Corporate Trustee and David A. Vanaskey, as Individual Trustee, incorporated by reference to Exhibit 2.1 to the CNX Gas Corporation Form 8-K (file no. 001-32723) filed on May 13, 2010.
10.42Pledge Agreement, dated as of May 7, 2010, by each of the pledgors listed on the signature pages thereto and each of the other persons and entities that become bound thereby from time to time by joinder, assumption or otherwise and Wilmington Trust Company, as Collateral Trustee, incorporated by reference to Exhibit 2.2 to the CNX Gas Corporation Form 8-K (file no. 001-32723) filed on May 13, 2010.
10.43Security Agreement, dated as of May��7, 2010, by and among CNX Gas Corporation and each of the undersigned parties thereto and each of the other persons and entities that become bound thereby from time to time by joinder, assumption or otherwise and Wilmington Trust Company, as Collateral Trustee, incorporated by reference to Exhibit 2.3 to the CNX Gas Corporation Form 8-K (file no. 001-32723) filed on May 13, 2010.
10.44CONSOL Amended and Restated Continuing Agreement of Guaranty and Suretyship, dated as of April 12, 2011, by CONSOL Energy and certain of its subsidiaries, incorporated by reference to Exhibit 10.4 to Form 8-K (file no. 001-14901) filed on April 18, 2011.
10.45Amended and Restated Continuing Agreement of Guaranty and Suretyship, dated as of April 12, 2011, among CNX Gas Company LLC and certain of its subsidiaries, incorporated by reference to Exhibit 10.5 to Form 8-K (file no. 001-14901) filed on April 18, 2011.
10.46Successor Agent Agreement, dated as of April 12, 2011, by and among Wilmington Trust Company and David A. Vanaskey as existing agents, PNC Bank, National Association as Collateral Trustee and CNX Gas Corporation and certain of its subsidiaries, incorporated by reference to Exhibit 2.3 to Form 8-K (file no. 001-14901) filed on April 18, 2011.
10.47Closing Agreement by and between CNX Gas Company LLC and Noble Energy, Inc. dated as of September 30, 2011, incorporated by reference to Exhibit 10.2 to Form 10-Q (file no. 001-14901) for the quarter ended September 30, 2011, filed on October 31, 2011.
10.48Stipulation and Agreement of Compromise and Settlement, dated May 8, 2013, between and among (i) plaintiffs Harold L. Hurwitz and James R. Gummel, on their own behalf and on behalf of the Class (as defined therein) and (ii) defendants CNX Gas Corporation, CONSOL Energy Inc. and certain individual defendants, incorporated by reference to Exhibit 10.1 of Form 10-Q (file no. 001-14901) for the quarter ended June 30, 2013, filed on August 5, 2013.
10.49Amendment No. 1, dated April 19, 2013, to the Asset Acquisition Agreement, dated August 17, 2011, between CNX Gas Company LLC and Noble Energy, Inc., incorporated by reference to Exhibit 10.2 of Form 10-Q (file no. 001-14901) for the quarter ended June 30, 2013, filed on August 5, 2013.
10.50Purchase Agreement, dated as of April 10, 2014, among CONSOL Energy Inc., the subsidiary guarantors party thereto and J.P. Morgan Securities LLC and Credit Suisse Securities (USA) LLC, as representatives of the several initial purchasers named therein, incorporated by reference to Exhibit 1.1 to Form 8-K (file no. 001-14901) filed on April 16, 2014.
10.51Time Sharing Agreement, dated as of May 1, 2007, by and between CONSOL Energy Inc. and J. Brett Harvey, incorporated by reference to Exhibit 10.1 to Form 8-K (file no. 001-14901) filed on May 7, 2007.


10.52Amended and Restated Employment Agreement between CONSOL Energy Inc. and J. Brett Harvey, dated March 21, 2014, incorporated by reference to Exhibit 10.1 to Form 8-K (file no. 001-14901) filed on March 26, 2014
10.53Letter Agreement, dated August 24, 2007, by and between CONSOL Energy Inc. and Nicholas J. DeIuliis, incorporated by reference to Exhibit 10.1 to Form 8-K (file no. 001-14901) filed on August 24, 2007.
10.54Change in Control Agreement by and between CONSOL Energy Inc. and J. Brett Harvey, incorporated by reference to Exhibit 10.3 to Form 10-K for the year ended December 31, 2008 (file no. 001-14901), filed on February 17, 2009.
10.55Change in Control Agreement by and between CONSOL Energy Inc. and Nicholas J. DeIuliis, incorporated by reference to Exhibit 10.7 to Form 10-K for the year ended December 31, 2008 (file no. 001-14901), filed on February 17, 2009.
10.56Amended and Restated Change in Control Severance Agreement, dated as of October 9, 2015, between CONSOL Energy Inc. and David M. Khani, incorporated by reference to Exhibit 10.1 to Form 10-Q (file no. 001-14901) for the quarter ended September 30, 2015, filed on November 3, 2015.
10.57Amended and Restated Change in Control Severance Agreement, dated as of April 10, 2014, between CONSOL Energy Inc. and James Grech, incorporated by reference to Exhibit 10.9 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2014, filed on May 6, 2014.
10.58Change in Control Agreement by and among CNX Gas Corporation, CONSOL Energy Inc. and Stephen W. Johnson, incorporated by reference to Exhibit 10.4 to Form 10-K for the year ended December 31, 2008 of CNX Gas Corporation (file no. 001-32723) filed on February 17, 2009.
10.59Amended and Restated Change in Control Severance Agreement, dated as of August 24, 2015, between CONSOL Energy Inc. and James A. Brock, incorporated by reference to Exhibit 10.3 to Form 10-Q (file no. 001-14901) for the quarter ended September 30, 2015, filed on November 3, 2015.
10.60Amended and Restated Change in Control Severance Agreement, dated as of August 24, 2015, between CONSOL Energy Inc. and Timothy Dugan, incorporated by reference to Exhibit 10.2 to Form 10-Q (file no. 001-14901) for the quarter ended September 30, 2015, filed on November 3, 2015.
10.61Form of Indemnification Agreement for Directors and Executive Officers of CONSOL Energy Inc., incorporated by reference to Exhibit 10.6 to Form 10-Q (file no. 001-14901) for the quarter ended June 30, 2009, filed on August 3, 2009.
10.62Form of Indemnification Agreement for Directors and Executive Officers of CNX Gas Corporation, incorporated by reference to Exhibit 10.7 to Form 10-Q (file no. 001-14901) for the quarter ended June 30, 2009, filed on August 3, 2009.
10.63Equity Incentive Plan, As Amended and Restated, effective May 1, 2012, incorporated by reference to Exhibit 10.1 to the Form 8-K (file no. 001-14901) filed on March 21, 2012.
10.64Amended and Restated CONSOL Energy Inc. Executive Annual Incentive Plan, incorporated by reference to Appendix A to the Form DEF 14A (file no. 001-14901) filed on March 29, 2013.
10.65Non-Employee Director Option Grant Notice, as amended, incorporated by reference to Exhibit 10.84 to the Form 8-K (file no. 001-14901) filed on October 24, 2005.
10.66Form of Non-Qualified Stock Option Award Agreement For Employees, incorporated by reference to Exhibit 10.26 to the Registration Statement on Form S-4 (file no. 333-149442) filed on February 28, 2008.
10.67Form of Non-Qualified Stock Option Award Agreement for Employees (February 17, 2009 and after), incorporated by reference to Exhibit 10.28 to Form S-4 (file no. 333-157894) filed on June 26, 2009.
10.68Form of Employee Non-Qualified Performance Stock Option Agreement, incorporated by reference to Exhibit 10.1 to Form 8-K (file no. 001-14901) filed on June 21, 2010.


10.69Form of Restricted Stock Unit Award for Employees (February 17, 2009 and after), incorporated by reference to Exhibit 10.31 to Amendment No. 1 to Form S-4 (file no. 333-157894) filed on June 26, 2009.
10.70Form of 5-Year Restricted Stock Unit Award Agreement for Employees, incorporated by reference to Exhibit 10.4 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2014, filed on May 6, 2014.
10.71Form of Restricted Stock Unit Award Agreement for Employees, incorporated by reference to Exhibit 10.28 to the Registration Statement on Form S-4 (file no. 333-149442) filed on February 28, 2008.
10.72Form of Restricted Stock Unit Award Agreement for Employees (for 2015 awards and after), incorporated by reference to Exhibit 10.67 to Form 10-K (file no. 001-14901) for the year ended December 31, 2014, filed on February 6, 2015.
10.73Form of Performance Share Unit Award Agreement (for 2014 awards), incorporated by reference to Exhibit 10.3 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2014, filed on May 6, 2014.
10.74Form of Performance Share Unit Award Agreement for Employees (for 2015 awards and after), incorporated by reference to Exhibit 10.69 to Form 10-K (file no. 001-14901) for the year ended December 31, 2014, filed on February 6, 2015.
10.75Form of CONSOL Stock Unit Acknowledgment Letter, incorporated by reference to Exhibit 10.5 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2014, filed on May 6, 2014.
10.76Form of CONSOL Stock Unit Acknowledgment Letter (Alternate), incorporated by reference to Exhibit 10.6 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2014, filed on May 6, 2014.
10.77Form of CONSOL Stock Unit Award Agreement under the Equity Incentive Plan, incorporated by reference to Exhibit 10.2 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2013, filed on May 7, 2013.
10.78Summary of Non-Employee Director Compensation, incorporate by reference to Exhibit 10.69 to Form 10-K (file no. 001-14901) for the year ended December 31, 2013, filed on February 7, 2014.
10.79Directors Deferred Compensation Plan (1999 Plan), incorporated by reference to Exhibit 10.1 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2008, filed on April 30, 2008.
10.80Hypothetical Investment Election Form Relating to Directors’ Deferred Compensation Plan (1999 Plan), incorporated by reference to Exhibit 10.53 to Form 10-K (file no. 001-14901) for the year ended December 31, 2007, filed on February 19, 2008.
10.81Directors’ Deferred Fee Plan (2004 Plan) (Amended and Restated on December 4, 2007), incorporated by reference to Exhibit 10.3 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2008, filed on April 30, 2008.
10.82Hypothetical Investment Election Form Relating to Directors’ Deferred Fee Plan (2004 Plan), incorporated by reference to Exhibit 10.50 to Form 10-K (file no. 001-14901) for the year ended December 31, 2007, filed on February 19, 2008.
10.83Form of Director Deferred Stock Unit Grant Agreement, incorporated by reference to Exhibit 10.95 to the Form 8-K (file no. 001-14901) filed on May 8, 2006.
10.84Trust Agreement (Amended and Restated on March 20, 2008) (1999 Directors Deferred Compensation Plan), incorporated by reference to Exhibit 10.2 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2008, filed on April 30, 2008.
10.85Trust Agreement (Amended and Restated on March 20, 2008) (2004 Directors Deferred Fee Plan), incorporated by reference to Exhibit 10.4 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2008, filed on April 30, 2008.


10.86Amended and Restated Retirement Restoration Plan of CONSOL Energy Inc., incorporated reference to Exhibit 10.30 to Form 10-K (file no. 001-14901) for the year ended December 31, 2008, filed on February 17, 2009.
10.87Amended and Restated Supplemental Retirement Plan of CONSOL Energy Inc. effective January 1, 2007, as amended and restated on September 8, 2009, incorporated by reference to Exhibit 10.1 to Form 8-K (file no. 001-14901) filed on September 11, 2009.
10.88Amendment to CONSOL Energy Inc. Supplemental Retirement Plan, dated as of October 17, 2011, incorporated by reference to Exhibit 10.3 to Form 10-Q (file no. 001-14901), for the quarter ended September 30, 2011, filed on October 31, 2011.
10.89CONSOL Energy Inc. Defined Contribution Restoration Plan, incorporated by reference to Exhibit 10.12 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2014, filed on May 6, 2014.
10.90Executive Compensation Clawback Policy, incorporated by reference to Exhibit 10.11 to Form 10-Q (file no. 001-14901) for the quarter ended March 31, 2014, filed on May 6, 2014.
*12.1Calculation of Ratio of Earnings to Fixed Charges.
*21.1List of Subsidiaries of CONSOL Energy Inc.
*23.1  Consent of Ernst & Young LLP
  23.3*Consent of Deloitte & Touche, LLP
  23.4*Consent of Schlumberger Data and Consulting Services
  23.5**23.2  Consent of Netherland, Sewell & Associates, Inc.
  24.1**23.3Consent of Golder Associates Inc.
*23.4Consents of Latham & Watkins LLP, Buchanon Ingersoll & Rooney PC, McGuireWoods LLP, Steptoe & Johnson PLLC and Wagner, Myers & Sanger, P.C. (contained in Exhibits 5.1 through 5.5, respectively).
*24.1  Power of Attorney (Included(included in Signature Page)the signature pages to this registration statement).
  25.1**25.1  Form T-1 Statement of Eligibility on Form T-1and Qualification under the Trust Indenture Act of 1939 of the Trustee under the Indenture.
  99.1*Form Letter of Transmittal
  99.2*Form of Notice of Guaranteed Delivery
  99.3**99.1  Form of Letter of Transmittal (included as Annex A to Clients
  99.4*Form of Letter to Registered Holdersthe prospectus).

 

*Filed herewithherewith.