CONSOL Energy Reports Net Income of $113.3 million

Coal Production Guidance Lowered to 58 Million Tons

PITTSBURGH, July 30 /PRNewswire-FirstCall/ -- CONSOL Energy Inc. (NYSE: CNX),
a high-Btu bituminous coal and natural gas company, reported net income
attributable to CONSOL Energy shareholders for the quarter ended June 30, 2009
of $113.3 million, or $0.62 per dilutive share. This is 12% higher than the
net income attributable to CONSOL Energy shareholders of $101.0 million, or
$0.54 per dilutive share, for the quarter ended June 30, 2008.

"2009 continues to be a tactical year for the company," said J. Brett Harvey,
president and chief executive officer. "CONSOL Energy is reacting to ensure
that coal production is in line with demand in a weakened economy. As a
result, we've lowered our 2009 production guidance to 58 million tons. Our
goal is to preserve per ton coal margins by not building inventory and
controlling costs. Our financial strength, coupled with the completion of some
existing efficiency projects, should ensure that CONSOL Energy will emerge as
an even stronger competitor when the economy rebounds."

"At CNX Gas," Mr. Harvey continued, "we've raised production guidance from 87
Bcf to 89 Bcf, as results from our Marcellus Shale and coalbed methane
programs continue to exceed expectations."

FINANCIAL RESULTS - Period-To-Period Comparison

Six Six
Quarter Quarter Months Months
Ended Ended Ended Ended
June 30, June 30, June 30 June 30,
2009 2008 2009 2008

Total Revenue
and Other Income $1,070.6 $1,210.9 $2,289.3 $2,236.6

Net Income attributable to
CONSOL Energy shareholders $113.3 $101.0 $309.2 $176.1

Earnings Per Share - diluted $0.62 $0.54 $1.69 $0.95

Net Cash from Operating
Activities $316.5 $323.9 $566.2 $470.0

EBITDA $281.6 $266.5 $671.1 $479.2

EBIT $174.1 $170.7 $457.4 $290.7

Capital Expenditures $196.9 $259.9 $496.4 $436.3

Cash (Provided by) Used in Other
Investing Activities* ($5.7) $0.9 ($50.3) ($16.5)

In millions of dollars except per share. Amounts for capital
expenditures do not include amounts for equity affiliates.

*Represents net cash (provided by) used in investment in Equity
Affiliates and Proceeds from Sales of Assets.

Quarter-To-Quarter Discussion of Financial Results

Total Revenue and Other Income was $1,070.6 million for the quarter ended June
30, 2009, compared with $1,210.9 million for the June 2008 quarter, or a
decrease of 12%. The decrease was due to lower gas pricing and lower coal
sales, but was partially offset by coal customer contract buyouts that
resulted in $14 million of (pre-tax) other income.

Net income attributable to CONSOL Energy shareholders and earnings per share
were $113.3 million, or $0.62 per dilutive share, for the just ended quarter.
This compares with $101.0 million, or $0.54 per dilutive share. The
improvement was due to higher coal pricing and higher gas production.

CONSOL Energy had net cash from operating activities of $316.5 million for the
June 2009 quarter, with $87.6 million attributable to CNX Gas. For CONSOL
Energy, this compares to $323.9 million for the June 2008 quarter, or a
decrease of 2%.

CONSOL Energy had total capital expenditures of $196.9 million in the June
2009 quarter, with $80.2 million attributable to CNX Gas. For both CONSOL
Energy and CNX Gas, quarterly capital expenditures in the June 2009 quarter
are lower than the March 2009 quarter, as expected, as some projects already
underway move toward completion.

Liquidity

As of June 30, 2009, CONSOL Energy had $371.0 million of short-term debt and
$461.5 million in total liquidity, which is comprised of $100.7 million of
cash and $360.8 million available to be borrowed under its $1.0 billion bank
facility. As of June 30, 2009, CNX Gas Corporation had $81.0 million of
short-term debt and $111.7 million in total liquidity, which is comprised of
$7.6 million of cash and $104.1 million available to be borrowed under its
$200.0 million bank facility.

COAL OPERATIONS- Period-To-Period Comparison

Quarter Quarter Six Months Six Months
Ended Ended Ended Ended
June 30, June 30, June 30, June 30,
2009 2008 2009 2008
-------- -------- -------- --------
Total Coal Sales (millions
of tons) 13.4 17.5 28.8 33.5
Sales - Company Produced
(millions of tons) 13.3 17.0 28.6 32.7
Coal Production (millions
of tons) 14.4* 16.6* 30.4 32.8
Average Realized Price Per
Ton - Company Produced $56.36 $48.50 $58.08 $46.07
Operating Costs Per Ton $35.01 $32.03 $33.58 $30.20
Non-Operating Charges Per
Ton $5.75 $5.44 $5.73 $5.30
DD&A Per Ton $4.66 $4.14 $4.44 $4.03
Total Cost Per Ton -
Company Produced $45.42 $41.60** $43.75 $39.52**
Operating Margins Per Ton $21.35 $16.47 $24.50 $15.87
Financial Margins Per Ton** $10.94 $6.90 $14.33 $6.55

Sales and production include CONSOL Energy's portion from equity
affiliates and consolidated variable interest entities. Operating costs
include items such as labor, supplies, power, preparation costs, project
expenditures, subsidence costs, gas well plugging costs, charges for
employee benefits (including Combined Fund premiums), royalties, as well
as production and property taxes. Non-operating charges include items
such as charges for long-term liabilities, direct administration,
selling and general administration. Operating Margins Per Ton are
defined as Average Realized Price Per Ton less Operating Costs Per Ton.
Financial Margins Per Ton are defined as Average Realized Price Per Ton
less Total Costs Per Ton - Company Produced.

*Includes 0.1 and 1.1 million tons of metallurgical grade coal for the
quarters ended June 30, 2009 and 2008, respectively.

**May not add due to rounding.

Quarter-to-Quarter Discussion of Coal Operations

Total coal sales were down in the June 2009 quarter, as the weak economy
reduced coal burn at utilities and coal needs of steel companies.

"Because of the economy, CONSOL Energy is working with some of its customers
to restructure shipments. We have long term relationships with our customers
that we value highly, but we expect to capture the value for our shareholders
in the contracts we have signed," continued Mr. Harvey.

Coal production was 14.4 million tons in the June 2009 quarter, down from 16.6
million tons in the year-earlier quarter. Mr. Harvey continued, "We will match
our production with actual customer shipments, so we will not build inventory.
When shipments rebound, so will our production."

Average realized price was $56.36 per ton, or 16% higher than in the
year-earlier quarter, due mainly to contracts signed earlier in a stronger
market.

Operating costs were $35.01 per ton, or 9% higher than in the year-earlier
quarter. In general, operating costs per ton increased due to the reduced
amount of tons produced from CONSOL Energy mines. Also, the longwall at
Buchanan was idle throughout most of the quarter, while the continuous mining
(CMs) equipment continued to operate. Tons mined from CMs are higher cost due
to their labor and supply intensity. Labor costs also increased $0.66 per ton,
partially due to labor contracts negotiated in 2007. Subsidence costs also
increased by $0.94 per ton, primarily due to additional estimated Pennsylvania
stream remediation requirements.

Total costs were $45.42 per ton, or 9% higher than in the year-earlier
quarter, with most of the increase coming from operating costs. Operating
margins were $21.35 per ton in the June 2009 quarter, an increase of 30% from
$16.47 per ton, due to higher realized pricing per ton. Financial margins
were $10.94 per ton, a 59% increase from the $6.90 per ton, also due to higher
realized pricing.

Gas Operations

CNX Gas Corporation (NYSE: CXG), 83.3% of which is owned by CONSOL Energy,
reported total net income attributable to CNX Gas shareholders of $33.0
million for the quarter ended June 30, 2009, compared with $64.3 million in
the year earlier quarter. CNX Gas Corporation also issued its earnings
release this morning. Additional information regarding CNX Gas Corporation
financial and operating results for the quarter is available in its release
and can be found in the investor section of its website: http://www.cnxgas.com

Guidance

CONSOL Energy continues to expect to invest $1.0 billion in its coal and gas
businesses during calendar year 2009. The company continues to monitor and
evaluate capital spending to ensure adequate liquidity and to preserve options
for possible external investment. The company is committed to completing
capital projects in progress, including those that increase capacity and
efficiency. CNX Gas expects to invest largely from cash flow generated from
operating activities for 2009.

GUIDANCE

2009 2010 2011
---- ---- ----
COAL-COMMITTED TONS W/O PRICING - 13.5 21.5
COAL-TONS WITH FIRM PRICING
Tons Committed and Priced (MM tons, 7/13/09) 58.2 39.4 18.7
Avg. Realized Price/Ton Committed & Priced $58.39 $54.07 $50.77
COAL-TONS PRICED WITH COLLARS
Tons 0.3 3.6 5.9
Average Ceiling $41.49 $47.63 $63.13
Average Floor $37.54 $42.20 $52.64

Note: Tons priced with ceilings and floors are not included in tons
with firm pricing; they are additive. Although there is no assurance
that customers with contracts will perform under these contracts, CONSOL
Energy expects to capture the value of contracts through negotiated or
legal means.

CONSOL Energy has revised its production target from 60 million tons to 58
million tons for calendar year 2009. For the third quarter of 2009, CONSOL
Energy expects production to be approximately 13.1 million tons.

CNX Gas raised its previously announced production guidance of 87 to 89 Bcf
for calendar year 2009.

Outlook Summary

The U.S. economy continued to contract in the second quarter driven by a
decrease in industrial production in the manufacturing sector. This has led
to a reduction in electricity generation, thereby negatively impacting demand
and consumption of steam coal and natural gas. Milder weather this summer in
most areas of the U.S. has further exacerbated the demand situation which has
resulted in higher than normal coal stockpiles and gas storage levels across
the country.

Steam Coal and Natural Gas Outlook

Many domestic coal companies have responded to the reduced coal demand by
reducing production. Industry experts predict coal production will be reduced
by at least 100 million tons in 2009. Mr. Harvey noted, "CONSOL Energy has a
long history of being a disciplined producer. This year several other coal
producers have also curtailed production due to market conditions. We believe
that coal production cuts will continue into next year and that this should
bode well for a sustained recovery in coal contract prices.

"In addition, natural gas producers have rapidly idled drilling rigs since the
beginning of the economic downturn, with total active natural gas drilling
rigs declining by more than 50 percent. Industry analysts expect gas rig
counts to remain relatively flat for the remainder of 2009 and 2010.

Metallurgical Coal Outlook

"Capacity utilization at steel plants in the U.S. continues to improve
following substantial inventory destocking efforts in late 2008 and early
2009. Steel plant capacity utilization in the U.S. has steadily increased
since its low in December 2008. In addition, there are reports that nearly
all metallurgical spot coal is sold out for 2009 due to preemptive buying by
China since the beginning of the year and met coal production cutbacks." Mr.
Harvey added, "Currently, the outlook is improving in the steel industry and
we are cautiously optimistic regarding a recovery in metallurgical coal demand
and pricing. We are seeing increased interest from South American and European
steel producers who are methodically restarting previously idled blast
furnaces and coking operations."

Mr. Harvey concluded, "Although there is still much uncertainty in the
economy, certain leading economic indicators have shown improvement. We
believe that as the overall economy improves, coal production cuts will have a
profound impact on contract prices. Furthermore, our low-cost position in
coal and gas should enable us to outperform our peers during this bottoming
process."

CONSOL Energy Inc., a high-Btu bituminous coal and natural gas company, is a
member of the Standard & Poor's 500 Equity Index and the Fortune 500. It has
16 bituminous coal mining complexes in six states and reports proven and
probable coal reserves of 4.5 billion tons. It is also a majority owner of CNX
Gas Corporation, a leading Appalachian gas producer, with proved reserves of
over 1.4 trillion cubic feet. Additional information about CONSOL Energy can
be found at its web site: www.consolenergy.com.

Definition: EBIT is defined as earnings (excluding cumulative effect of
accounting change) before deducting net interest expense (interest expense
less interest income) and income taxes. EBITDA is defined as earnings
(excluding cumulative effect of accounting change) before deducting net
interest expense (interest expense less interest income), income taxes and
depreciation, depletion and amortization. Although EBIT and EBITDA are not
measures of performance calculated in accordance with generally accepted
accounting principles, management believes that it is useful to an investor in
evaluating CONSOL Energy because it is widely used to evaluate a company's
operating performance before debt expense and its cash flow. EBIT and EBITDA
do not purport to represent cash generated by operating activities and should
not be considered in isolation or as a substitute for measures of performance
in accordance with generally accepted accounting principles. In addition,
because all companies do not calculate EBIT or EBITDA identically, the
presentation here may not be comparable to similarly titled measures of other
companies. Reconciliation of EBITDA and EBIT to the income statement is as
follows:

CONSOL Energy
EBIT & EBITDA Reconciliation
(000) Omitted

Quarter Quarter Six Months Six Months
Ended Ended Ended Ended
6/30/09 6/30/08 6/30/09 6/30/08
-------- -------- ---------- ----------

Net Income Attributable to
CONSOL Energy Shareholders $113,339 $101,012 $309,158 $176,094

Add: Interest Expense 6,945 8,526 15,457 18,704
Less: Interest Income (186) (618) (620) (1,459)
Less: Interest Income on Black
Lung Excise Tax Refund (415) (767)
Add: Income Taxes 54,416 61,798 134,151 97,351
-------- -------- --------- --------
Earnings Before Interest &
Taxes (EBIT) $174,099 $170,718 $457,379 $290,690

Add: Depreciation, Depletion
& Amortization 107,475 95,775 213,694 188,503
-------- -------- --------- --------
Earnings Before Interest,
Taxes and DD&A (EBITDA) $281,574 $266,493 $671,073 $479,193
======== ======== ========= ========

For purposes of this press release, references to "CONSOL Energy," the
"company," "we," "our," or "us" or similar words (other than the legal names
of companies) shall include CONSOL Energy Inc. and its respective
subsidiaries.

Forward-Looking Statements

Various statements in this document, including those that express a belief,
expectation, or intention, as well as those that are not statements of
historical fact, are forward-looking statements (as defined in Section 21E of
the Securities Exchange Act of 1934 and the Private Securities Litigation
Reform Act of 1995). The forward-looking statements may include projections
and estimates concerning the timing and success of specific projects, our
future production, revenues, income and capital spending. When we use the
words "believe," "intend," "expect," "may," "should," "anticipate," "could,"
"would," "will," "estimate," "plan," "predict," "project," 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. The
forward-looking statements in this document speak only as of the date of this
document; we disclaim any obligation to update these statements unless
required by securities law, and we caution you not to rely on them unduly. 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. These risks, uncertainties and
contingencies include, but are not limited to: the deteriorating economic
conditions; an extended decline in prices we receive for our coal and gas
affecting our operating results and cash flows; reliance on customers honoring
existing contracts, extending existing contracts or entering into new
long-term contracts for coal; reliance on major customers; our inability to
collect payments from customers if their creditworthiness declines; the
disruption of rail, barge and other systems that deliver our coal; a loss of
our competitive position because of the competitive nature of the coal
industry and the gas industry, or a loss of our competitive position because
of overcapacity in these industries impairing our profitability; our inability
to hire qualified people to meet replacement or expansion needs; coal users
switching to other fuels in order to comply with various environmental
standards related to coal combustion; the inability to produce a sufficient
amount of coal to fulfill our customers' requirements which could result in
our customers initiating claims against us; foreign currency fluctuations
could adversely affect the competitiveness of our coal abroad; the risks
inherent in coal mining being subject to unexpected disruptions, including
geological conditions, equipment failure, timing of completion of significant
construction or repair of equipment, fires, accidents and weather conditions
which could impact financial results; increases in the price of commodities
used in our mining operations could impact our cost of production; obtaining
governmental permits and approvals for our operations; the effects of
proposals to regulate greenhouse gas emissions; the effects of government
regulation; the effects of stringent federal and state employee health and
safety regulations; the effects of mine closing, reclamation and certain other
liabilities; the effects of subsidence from longwall mining operations on
surface structures, water supplies, streams and surface land; uncertainties in
estimating our economically recoverable coal and gas reserves; the outcomes of
various legal proceedings, which proceedings are more fully described in our
reports filed under the Securities Exchange Act of 1934; increased exposure to
employee related long-term liabilities; minimum funding requirements by the
Pension Protection Act of 2006 (the Pension Act) coupled with the significant
investment and plan asset losses suffered during the current economic decline
has exposed us to making additional required cash contributions to fund the
pension benefit plans which we sponsor and the multi-employer pension benefit
plans in which we participate; lump sum payments made to retiring salaried
employees pursuant to our defined benefit pension plan; our ability to comply
with laws or regulations requiring that we obtain surety bonds for workers'
compensation and other statutory requirements; acquisitions that we recently
have made or may make in the future including the accuracy of our assessment
of the acquired businesses and their risks, achieving any anticipated
synergies, integrating the acquisitions and unanticipated changes that could
affect assumptions we may have made; the anti-takeover effects of our rights
plan could prevent a change of control; risks in exploring for and producing
gas; new gas development projects and exploration for gas in areas where we
have little or no proven gas reserves; the disruption of pipeline systems
which deliver our gas; the availability of field services, equipment and
personnel for drilling and producing gas; replacing our natural gas reserves
which if not replaced will cause our gas reserves and gas production to
decline; costs associated with perfecting title for gas rights in some of our
properties; location of a vast majority of our gas producing properties in
three counties in southwestern Virginia, making us vulnerable to risks
associated with having our gas production concentrated in one area; other
persons could have ownership rights in our advanced gas extraction techniques
which could force us to cease using those techniques or pay royalties; our
ability to acquire water supplies needed for drilling, or our ability to
dispose of water used or removed from strata at a reasonable cost and within
applicable environmental rules; the coalbeds and other strata from which we
produce methane gas frequently contain impurities that may hamper production;
the enactment of Pennsylvania severance tax on natural gas may impact results
of existing operations and impact the economic viability of exploiting new gas
drilling and production opportunities in Pennsylvania; our hedging activities
may prevent us from benefiting from price increases and may expose us to other
risks; and other factors discussed in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2008 under "Risk Factors," as updated by any
subsequent Form 10-Qs, which are on file at the Securities and Exchange
Commission.

SPECIAL INCOME STATEMENT
2nd Qtr 2009
In Millions

Quarter Ended June 30, 2009
COAL
Total Total
Produced Other Total Gas Other TOTAL

Sales $ 774 $ 8 $ 782 $ 153 $ 61 $ 996
Gas Royalty Interest - - - 8 - 8
Freight Revenue 27 - 27 - - 27
Other Income - 13 13 1 25 39
---- ---- ---- ---- ---- -----
Total Revenue and Other Income 801 21 822 162 86 1,070
Cost of Goods Sold 446 30 476 72 97 645
Gas Royalty Interests' Costs - - 6 - 6
Freight Expense 27 - 27 - - 27
Selling, General & Admin. 22 6 28 3 4 35
DD&A 74 3 77 25 6 108
Interest Expense - - - - 6 6
Taxes Other Than Income 65 - 65 3 2 70
---- ---- ---- ---- ---- -----
Total Cost 634 39 673 109 115 897
---- ---- ---- ---- ---- -----
Earnings Before Income Taxes $ 167 $ (18) $ 149 $ 53 $ (29) 173
Income Tax (54)
-----
Earnings Before Minority Interest 119
Minority Interest (6)
-----
Net Income $ 113
=====

CONSOL ENERGY INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS of INCOME
(Unaudited)
(Dollars in thousands - except per share data)

Three Months Ended Six Months Ended
June 30, June 30,
2009 2008 2009 2008

Sales - Outside $994,141 $1,111,410 $2,144,385 $1,997,735
Sales - Gas Royalty
Interests 8,666 22,515 21,298 39,019
Sales - Purchased Gas 1,166 1,647 2,631 5,186
Freight - Outside 27,087 63,927 58,003 108,671
Other Income 39,505 11,397 62,999 86,016
--------- --------- --------- ---------
Total Revenue and Other
Income 1,070,565 1,210,896 2,289,316 2,236,627
Cost of Goods Sold and
Other Operating Charges
(exclusive of
depreciation, depletion
and amortization shown
below) 642,856 740,735 1,310,478 1,377,461
Gas Royalty Interests'
Costs 6,458 21,880 17,049 37,954
Purchased Gas Costs 390 1,522 1,920 4,943
Freight Expense 27,087 63,927 58,003 108,671
Selling, General and
Administrative Expense 35,627 30,644 66,443 61,114
Depreciation, Depletion
and Amortization 107,475 95,775 213,694 188,503
Interest Expense 6,945 8,526 15,457 18,704
Taxes Other Than Income 70,472 73,299 148,311 144,905
--------- --------- --------- ---------
Total Costs 897,310 1,036,308 1,831,355 1,942,255
--------- --------- --------- ---------
Earnings Before Income
Taxes 173,255 174,588 457,961 294,372
Income Taxes 54,416 61,798 134,151 97,351
--------- --------- --------- ---------
Net Income 118,839 112,790 323,810 197,021
Less: Net Income
Attributable to
Noncontrolling Interest (5,500) (11,778) (14,652) (20,927)
--------- --------- --------- ---------
Net Income Attributable
to CONSOL Energy Inc.
Shareholders $113,339 $101,012 $309,158 $176,094
========= ========= ========= =========
Basic Earnings Per Share $0.63 $0.55 $1.71 $0.96
========= ========= ========= =========
Dilutive Earnings Per
Share $0.62 $0.54 $1.69 $0.95
========= ========= ========= =========
Weighted Average Number
Of Common Shares
Outstanding:
Basic 180,644,498 182,977,726 180,610,676 182,775,355
========= ========= ========= =========
Dilutive 183,073,413 185,637,248 182,833,111 185,330,300
========= ========= ========= =========
Dividends Paid Per
Share $0.10 $0.10 $0.20 $0.20
--------- --------- --------- ---------

CONSOL ENERGY INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands - except per share data)

(Unaudited)
June 30, December 31,
2009 2008

ASSETS

Current Assets:
Cash and Cash Equivalents $108,311 $138,512
Accounts and Notes Receivable:
Trade 180,752 221,729
Other Receivables 20,921 79,552
Inventories 324,655 227,810
Deferred Income Taxes 63,103 60,599
Recoverable Income Taxes - 33,862
Prepaid Expenses 228,462 221,750
------- -------

Total Current Assets 926,204 983,814

Property, Plant and Equipment:
Property, Plant and Equipment 10,265,654 9,980,288
Less - Accumulated Depreciation,
Depletion and Amortization 4,362,575 4,214,316
--------- ---------

Total Property, Plant and Equipment
- Net 5,903,079 5,765,972

Other Assets:
Deferred Income Taxes 301,511 333,543
Investment in Affiliates 77,706 72,996
Other 148,800 214,133
------- -------

Total Other Assets 528,017 620,672
------- -------
TOTAL ASSETS $7,357,300 $7,370,458
========== ==========

CONSOL ENERGY INC. AND SUBSIDIARIES
(Unaudited)
CONSOLIDATED BALANCE SHEETS
(Dollars in thousands - except per share data)

(Unaudited)
June 30, December 31,
LIABILITIES AND STOCKHOLDERS' EQUITY 2009 2008

Current Liabilities:
Accounts Payable $232,136 $385,197
Short-Term Notes Payable 452,000 557,700
Current Portion of Long-Term Debt 22,231 22,401
Accrued Income Taxes 4,891 -
Other Accrued Liabilities 554,190 546,442
------- -------

Total Current Liabilities 1,265,448 1,511,740
Long-Term Debt:
Long-Term Debt 391,856 393,312
Capital Lease Obligations 69,736 75,039
------ ------
Total Long-Term Debt 461,592 468,351
Deferred Credits and Other Liabilities:
Postretirement Benefits Other Than
Pensions 2,494,054 2,493,344
Pneumoconiosis Benefits 194,984 190,261
Mine Closing 393,653 404,629
Gas Well Plugging 84,114 80,554
Workers' Compensation 131,959 128,477
Salary Retirement 167,587 194,567
Reclamation 21,818 38,193
Other 155,300 185,996
------- -------
Total Deferred Credits and Other
Liabilities 3,643,469 3,716,021
--------- ---------
Total Liabilities 5,370,509 5,696,112
Stockholders' Equity:
Common Stock, $.01 par value;
500,000,000 Shares Authorized,
183,014,426 Issued and
180,665,103 Outstanding at
June 30, 2009; 183,014,426
Issued and 180,549,851 Outstanding
at December 31, 2008 1,830 1,830
Preferred Stock, 15,000,000 Shares
Authorized; None Issued and
Outstanding - -
Capital in Excess of Par Value 1,013,810 993,478
Retained Earnings 1,279,979 1,010,902
Other Comprehensive Loss (467,193) (461,900)
Common Stock in Treasury, at Cost -
2,349,323 Shares at June 30,
2009 and 2,464,575 Shares at
December 31, 2008 (78,150) (82,123)
------- -------

Total Consol Energy Inc.
Stockholders' Equity 1,750,276 1,462,187

Noncontrolling Interest 236,515 212,159
------- -------
Total Equity 1,986,791 1,674,346
------- -------
TOTAL LIABILITIES AND EQUITY $7,357,300 $7,370,458
--------- ---------

CONSOL ENERGY INC. AND SUBSIDIARIES
(Unaudited)
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in thousands)

Three Months Six Months
Ended Ended
June 30, June 30,
2009 2008 2009 2008

Operating Activities:
Net Income $118,839 $112,790 $323,810 $197,021
Adjustments to Reconcile Net
Income to Net Cash Provided
by Operating Activities:
Depreciation, Depletion and
Amortization 107,475 95,775 213,694 188,503
Stock-based Compensation 11,877 6,767 21,783 12,425
Gain on the Sale of Assets (7,917) (764) (9,788) (8,050)
Amortization of Mineral Leases 727 1,153 2,398 3,240
Deferred Income Taxes 18,036 54,568 34,488 68,996
Equity in Earnings of Affiliates (3,439) (2,290) (6,800) (3,645)
Changes in Operating Assets:
Accounts Receivable
Securitization - 18,500 - 29,900
Accounts and Notes Receivable 131,013 (29,208) 100,554 (110,856)
Inventories (46,979) 9,700 (96,845) (11,467)
Prepaid Expenses 16,185 16,198 18,505 19,289
Changes in Other Assets 20 481 5,347 13,822
Changes in Operating
Liabilities:
Accounts Payable (21,269) 34,874 (64,959) 21,058
Other Operating Liabilities 18,867 7,789 45,117 11,276
Changes in Other Liabilities (33,915) (1,098) (30,977) 37,739
Other 6,946 (1,351) 9,919 726
------- ------- ------- -------
Net Cash Provided by Operating
Activities 316,466 323,884 566,246 469,977
------- ------- ------- -------
Investing Activities:
Capital Expenditures (196,859) (259,935)(496,419)(436,277)
Net Investment in Equity
Affiliates 1,370 (2,355) 2,090 (819)
Proceeds from Sales of Assets 4,357 1,477 48,184 17,280
------- ------- ------- -------
Net Cash Used in Investing
Activities (191,132) (260,813)(446,145)(419,816)
------- ------- ------- -------
Financing Activities:
Proceeds from (Payments on)
Miscellaneous Borrowings (2,857) 1,306 (9,282) 6,307
Proceeds from (Payments on)
Short-Term Borrowings (68,400) (73,000)(105,700) (40,500)
Tax Benefit from Stock-Based
Compensation 257 10,473 397 19,994
Dividends Paid (18,068) (18,294) (36,128) (36,549)
Issuance of Treasury Stock 490 8,886 611 14,156
Purchases of Treasury Stock - (28) - (31)
Noncontrolling Interest Member
Distribution - - (200) -
------- ------- ------- -------
Net Cash Provided by(Used in)
Financing Activities (88,578) (70,657)(150,302) (36,623)
------- ------- ------- -------
Net Increase(Decrease) in Cash and
Cash Equivalents 36,756 (7,586) (30,201) 13,538
Cash and Cash Equivalents at
Beginning of Period 71,555 62,775 138,512 41,651
------- ------- ------- -------
Cash and Cash Equivalents at End of
Period $108,311 $55,189 $108,311 $55,189
======= ======= ======= =======

CONSOL ENERGY INC. AND SUBSIDIARIES
(Unaudited)
CONSOLIDATED STATEMENTS OF EQUITY
(Dollars in Thousands - except per share data)

Capital
in Other
Excess Retained Comprehensive
Common of Par Earnings Income
Stock Value (Deficit) (Loss)

Balance -
December 31, 2008 $1,830 $ 993,478 $ 1,010,902 $ (461,900)

(Unaudited)

Net Income - - 309,158 -
Treasury Rate Lock
(Net of ($24) tax) - - - (41)
FASB 158 Long-Term
Liability Adjustment
(Net of $116 tax) - - - 190
Gas Cash Flow Hedge
(Net of $4,775 tax) - - - (5,442)
------- ------- ------- -------
Comprehensive Income - - 309,158 (5,293)

Issuance of Treasury
Stock - - (3,953) -
Issuance of CNX Gas
Stock - - - -
Tax Benefit from
Stock-Based
Compensation - (110) - -
Amortization of
Stock-Based
Compensation Awards - 16,942 - -
Stock-Based
Compensation
Awards to CNX Gas - 3,500 - -
Net Change in Crown
Drilling
Noncontrolling
Interest - - - -
Dividends ($0.20 per
share) - - (36,128) -
------- ------- ------- -------
Balance - June 30,
2009 $1,830 $ 1,013,810 $ 1,279,979 $ (467,193)
------- ------- ------- -------

Total
CONSOL
Energy, Inc. Noncont-
Treasury Stock-holders' rolling Total
Stock Equity Interest Equity

Balance -
December 31, 2008 $ (82,123) $ 1,462,187 $ 212,159 $ 1,674,346
------- --------- ------- --------

(Unaudited)

Net Income - 309,158 14,652 323,810
Treasury Rate Lock
(Net of ($24) tax) - (41) - (41)
FASB 158 Long-Term
Liability Adjustment
(Net of $116 tax) - 190 11 201
Gas Cash Flow Hedge
(Net of $4,775 tax) - (5,442) (1,085) (6,527)
------- --------- ------- --------
Comprehensive Income - 303,865 13,578 317,443

Issuance of Treasury
Stock 3,973 20 - 20
Issuance of CNX Gas
Stock - - 121 121
Tax Benefit from
Stock-Based
Compensation - (110) (1) (111)
Amortization of
Stock-Based
Compensation Awards - 16,942 15,190 32,132
Stock-Based
Compensation
Awards to CNX Gas - 3,500 (2,916) 584
Net Change in Crown
Drilling
Noncontrolling
Interest - - (1,616) (1,616)
Dividends ($0.20 per
share) - (36,128) - (36,128)
------- --------- ------- --------
Balance - June 30,
2009 $ (78,150) $ 1,750,276 $ 236,515 $ 1,986,791
------- --------- ------- --------

Contact: Dan Zajdel at (724) 485-4169

SOURCE CONSOL Energy Inc.

Dan Zajdel of CONSOL Energy Inc., +1-724-485-4169