March 23, 2010 (FinancialWire) — Consol Energy Inc. (NYSE: CNX ), a producer of thermal coal, metallurgical coal and natural gas, said it is launching an offering of around $1.75 billion of its common stock.

In connection with the offering, the company will grant the underwriters an option for 30 days to purchase up to an additional $263 million of its common stock to cover over-allotments.

Consol plans to use the net proceeds of the offering to finance a portion of the $3.475 billion purchase price for its acquisition of the Appalachian oil and gas exploration and production business of Dominion Resources, Inc. except for certain assets located in natural gas storage fields and a portion of the cost for its acquisition of shares which it does not own of CNX Gas, its 83.3% subsidiary.

Pennsylvania-based Consol said the acquisition is scheduled to close by April 30.

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