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Largest US Coal Company May Sell Assets

Leigh Paterson
/
Inside Energy

Today, the largest coal company in the U.S. announced that it is considering selling assets, including in Wyoming’s Powder River Basin,  as a way to deal with the depressed coal market. 

Peabody Energy Corporation posted larger than expected first quarter losses and is exploring ways to cut costs. Options include selling coal reserves and land holdings in both Australia and the U.S. Company CEO, Greg Boyce spoke at an energy conference in Houston. He emphasized that all assets are under review. 

"Clearly the low cost regions of the Powder River Basin and assets in the Illinois basin are valuable assets to us.”

In their first quarter earnings results, Peabody predicted demand for both Wyoming and Illinois coal will increase by 2017.

Email: lpaterson@insideenergy.org; leighpaterson@rmpbs.org
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