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CONSOL sells five W.Va. mines to Murray

Dec. 06, 2013 @ 12:00 AM

CHARLESTON -- CONSOL Energy Inc. says it has completed the sale of subsidiary Consolidation Coal Company to Murray Energy.

The sale includes five longwall mines in West Virginia. They include the McElroy, Shoemaker, Robinson Run, Loveridge and Blacksville No. 2 mines.

The deal also gives Ohio-basedMurray Energy about 1.1 billion tons of coal reserves.

Murray Energy paid $850 million in cash and will take $2.4 billion in liabilities off CONSOL's balance sheets.

Pennsylvania-based CONSOL said Thursday in a news release that Murray Energy also is taking on its pension obligations with the United Mine Workers of America.

The West Virginia mines produced a combined 28.5 million tons of thermal coal in 2012.

Hilton Garden Inn opens in Pikeville

PIKEVILLE, Ky. -- A new 113-room Hilton Garden Inn has opened in Pikeville, owned by Bailey Hotel 2. Inc. and managed by H&W Management Co. Inc.

"Within walking distance of historic downtown Pikeville, our new Hilton Garden Inn is ideally located to ensure our guests experience the best in the city," said Michael Alexander, general manager, in a news release. "Combined with our unique lobby and restaurant, spacious rooms, and rooftop meeting space, we can ensure guests have everything they need to work, rest and play."

The hotel provides complimentary Wi-Fi throughout the hotel, 24-hour business center, fitness center, indoor pool and a Garden Grille and Bar, offering breakfast, dinner, cocktails, and evening room service.

Ky. farm cash receipts soaring to record levels

LOUISVILLE, Ky. -- Kentucky's farm economy shifted into over-drive as a money maker this year, backed by robust equine, poultry and cattle markets and predictions of record grain yields that are putting total cash receipts on a rapid trajectory toward $6 billion, agricultural economists said Thursday.

The record-breaking projection comes just a year after Kentucky agriculture surpassed $5 billion in cash receipts, or gross sales, for the first time ever in 2012, the University of Kentucky ag economists said. Now, the state's farm economy could add nearly $1 billion in receipts in just one year.

Farm receipts reached a record $5.3 billion last year as high commodity prices, strong livestock markets and a big influx of crop insurance payments more than offset a severe drought that wilted many crops. The economist said farm receipts could approach or possibly exceed $6 billion this year.

Ohio gas prices dip below $3 in some cities

COLUMBUS, Ohio -- Call it a holiday miracle -- gas prices below $3 a gallon in Ohio.

Prices at the pump have edged below $3 at many stations in Ohio in the past couple days, while lots of others are hovering around that mark.

The state average has dropped 6 cents since Monday. The average Thursday morning was $3.08 for a gallon of regular gas in the survey from auto club AAA, the Oil Price Information Service and WEX Inc.

The Toledo average Thursday was $2.95, while Dayton stations were averaging $3.00 and Columbus stations $3.03. The highest average price was $3.18 in the Youngstown area.

The national average Thursday was $3.25.

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