Consol Energy drops plans for securities issuance

New York, April 22 - Consol Energy Inc. said that it no longer plans to access the capital markets this year.

The Pittsburgh coal and methane producer said its financial outlook has "significantly improved."

As a result, it will no longer need to raise additional money to fund anticipated spending. The company had said in January that it was looking at raising capital.

"As a result of the improved outlook for cash generation, I do not foresee a circumstance this year where we would need to access the equity or public debt markets to fund our ongoing capital expansion activities," said Brett Harvey, Consol's president and chief executive officer, in a news release.

"We expect cash generation will exceed our January guidance of $262 million to $328 million," he added.

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