By David Conti

July 14, 2015 - Consol Energy Inc. is laying off about 10 percent of its workforce, the latest cuts in the face of low coal and natural gas prices that are squeezing a once-lucrative Appalachian energy sector.

The Cecil-based company is cutting about 290 jobs from its gas and corporate operations, and 180 workers in its Pennsylvania coal mines.

Consol, which owns the largest underground coal mine complex in North America and this year became the state's 10th largest shale gas producer by volume, blamed low prices that have lingered in the markets for both products.

“We continually evaluate our workforce based on current and anticipated activity levels,” said company spokesman Brian Aiello. “These are very difficult but prudent decisions given the depressed nature of commodity prices.

“We are taking aggressive action so that Consol can continue to operate from a position of strength through the downturn and quickly capitalize on the up-cycle when it occurs.”

Consol stock was up 40 cents to $20.31 at lunchtime.

Overall U.S. coal production is down more than 8 percent year-to-date compared to last year and North Appalachian coal prices dropped to $53.20 per short ton, a 32 percent drop from four years ago, according to the U.S. Energy Information Administration.

Companies from Pennsylvania south through Ohio, West Virginia and Kentucky have laid off tens of thousands of employees and shuttered mines because of the slump. Consol in the spring cut a shift from the work schedule at its coal mines in Greene and Washington counties.

Gas prices have dropped 40 percent since last year because of a glut, particularly in the Marcellus. Demand for both coal and gas has dropped this year.

Consol this spring laid off 165 workers in its gas exploration and production division and corporate support and cut its capital spending plan on drilling by 30 percent to $920 million.

Consol Energy Inc.'s pad No. 2 in Findlay is part of the natural gas development at Pittsburgh International Airport.