Alpha Natural Resources announced this week the divestment of substantially all of the assets of two separate operations, a coal mining complex and a natural gas operation, both located in central West Virginia.
The Green Valley mining assets are being sold to Quinwood Coal Company. The divestiture includes the Number 1 preparation plant and related permits, which have been idle since the second quarter of 2014.
In addition to the coal mining complex, the New River Energy natural gas operation is being sold to Kinzer Drilling. The divestiture includes 120 producing natural gas wells in five counties.
Terms of the transactions were not released. In a statement, Alpha CEO David Stetson indicated the company will continue to pursue sales of other non-strategic assets in the coming months.
The Green Valley mining assets are being sold to Quinwood Coal Company. The divestiture includes the Number 1 preparation plant and related permits, which have been idle since the second quarter of 2014.
In addition to the coal mining complex, the New River Energy natural gas operation is being sold to Kinzer Drilling. The divestiture includes 120 producing natural gas wells in five counties.
Terms of the transactions were not released. In a statement, Alpha CEO David Stetson indicated the company will continue to pursue sales of other non-strategic assets in the coming months.