S&P might lift Consol Energy

S&P said it placed its ratings on Consol Energy Inc., including its B corporate credit rating, on CreditWatch with positive implications.

The CreditWatch designation follows Consol's announcement that it plans to separate its 50-50 Marcellus Shale joint venture with Noble Energy. As part of the separation, Consol expects to receive a $205 million payment and additional assets from the joint venture, in exchange for the cancellation of a drilling carry obligation due from Noble Energy.

Consol estimates $55 million in incremental annual EBITDA directly as a result of the transaction, S&P said.

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