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CNX Coal unveils plans to produce more coal in 2017

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CNX Coal unveils plans to produce more coal in 2017

CNX Coal Resources LP plans to increase coal sales and expects greater EBITDA in 2017.

With an improved market for coal, CNX Coal on Dec. 13 reported that it plans to sell between 6.25 million tons and 6.75 million tons of coal in 2017, compared to 5.90 million tons to 6.10 million tons expected in 2016. That is expected to boost the company's EBITDA to between $90 million and $110 million, compared to $74 million to $82 million in 2016.

"Based on the midpoint of our 2017 sales guidance range, approximately 94% of our coal is sold," CNX Coal reported.

The company said it expects a 5% to 10% improvement in average revenue per ton and flat or minimal costs per ton in 2017. CapEx is also being increased from a range of $15 million to $19 million to between $30 million and $36 million.

CNX Coal is a master limited partnership sponsored by CONSOL Energy Inc.