CANONSBURG, Pa., July 25, 2019 /PRNewswire/ -- The Board of
Directors of CONSOL Coal Resources GP LLC, the general partner of
CONSOL Coal Resources LP (NYSE: CCR), today announced a cash
distribution of $0.5125 per unit to
all limited partner unitholders and the related cash distribution
to the holder of the general partner interest. The distribution to
all unitholders of the Partnership will be made on August 15, 2019 to such holders of record at the
close of business on August 8,
2019.
Upon payment of the second-quarter distribution, the financial
tests required for conversion of all of the CCR subordinated units,
which are owned by CONSOL Energy, Inc., will have been met.
Accordingly, the subordinated units will convert into common units
on a one-for-one basis effective Aug. 16,
2019, the first business day following the payment of the
second-quarter distribution.
About CONSOL Coal Resources LP
CONSOL Coal Resources (NYSE:CCR) is a master limited partnership
formed in 2015 to manage and further develop all of CONSOL Energy
Inc.'s (NYSE:CEIX) active coal operations in Pennsylvania. CCR's assets include a 25%
undivided interest in, and operational control over, the
Pennsylvania Mining Complex, which consists of three underground
mines - Bailey, Enlow Fork and Harvey - and related infrastructure.
For its ownership interest, CCR has an effective annual production
capacity of 7.1 million tons of high-Btu North Appalachian thermal
and crossover metallurgical coal. More information is available on
our website www.ccrlp.com.
Cautionary Statements
Certain statements in this press release, including the expected
timing of the distribution and the resulting conversion of
subordinated units into common units, are "forward-looking
statements" within the meaning of the federal securities laws. With
the exception of historical matters, the matters discussed in this
press release are forward-looking statements (as defined in Section
21E of the Securities Exchange Act of 1934, as amended) 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. When we use the words "anticipate,"
"believe," "could," "continue," "estimate," "expect," "intend,"
"may," "plan," "predict," "project," "should," "will," 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. 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. Specific risks, contingencies and uncertainties are
discussed in more detail in our filings with the Securities and
Exchange Commission. The forward-looking statements in this press
release speak only as of the date of this press release and CCR
disclaims any intention or obligation to update publicly any
forward-looking statements, whether in response to new information,
future events, or otherwise, except as required by applicable
law.
Contacts:
Investor:
Mitesh Thakkar, (724) 416-8335
miteshthakkar@consolenergy.com
Media:
Zach Smith, (724) 416-8291
zacherysmith@consolenergy.com
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SOURCE CONSOL Coal Resources LP