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CONSOL approves share repurchase program for common stock, senior notes

CONSOL Energy Inc. plans to repurchase up to $50 million of its outstanding common stock or its 11% senior secured notes due 2025 through the period ending June 30, 2019.

The common shares or notes may be bought on the open market, through negotiated purchases or otherwise subject to limitations under the company's debt covenant package and under the tax matters agreement signed in connection with CONSOL's parting from CNX Resources Corp., according to a Dec. 18 release.

CONSOL expects minimizing outstanding debt to improve the overall risk profile and capital cost.