Adjusted earnings before interest, tax, depreciation and amortisation were $246 million for the quarter, compared to $181 million from the same period a year ago.

Cash flow from operations in the June quarter was $221 million, up from the $125 million in the previous corresponding period.

Consol incurred a $74.3 million expense due to the early settlement of debt due to the purchase of all the 8% senior notes that were due 2017.

It also incurred a $3 million non-cash charge associated with entering a new senior credit facility. The charge related to the acceleration of previously deferred financing fees.

The company incurred a non-cash charge of $20.7 million relating to a pension settlement.

Consol, however, gained $30 million related to a coal contract customer buyout. This means it will be able to remarket those tonnes into core markets.

Adjusted net income for the 2014 second quarter was $16 million.

Consol’s active coal operations generated $179 million of cash before capital expenditures and depreciation, depletion and amortisation.

Its oil and gas exploration and production activities brought in $15.5 million for the quarter. That is quite a turnaround from the loss of $2.7 million it posted for the second quarter 2013.

“Consol Energy did what we said we’d do,” Consol president and CEO Nicholas Deluliis said.

“Our quarterly gas production came in toward the upper end of our guidance range, our gas pricing held steady with last year’s quarter while our unit costs dropped meaningfully, especially in the Marcellus Shale, where cash costs below $2 per thousand cubic feet [of gas] were achieved.

“In coal we managed through some typical operating issues to again achieve our production target.

“In the first half of 2014 the coal division generated nearly $400 million in cash [before capital expenditures and DD&A].

“For the second half of 2014 our tactical focus remains on safety, compliance and operational execution.”