April 2, 2010 (FinancialWire) — Consol Energy Inc. (NYSE: CNX), a producer of coal and natural gas, said it has closed a public offering of 44.275 million shares of its common stock at $42.50 per share, including 5.775 million shares sold to the underwriters to cover overallotments.

The company saw net proceeds from the common stock offering were around $1,827.9 million. Pennsylvania-based Consol said it plans to use the net proceeds of the common stock 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. and a portion of the cost for its acquisition of shares which it does not own of CNX Gas Corp., its 83.3% subsidiary.

The acquisition of the Appalachian assets is scheduled to close by April 30. Consol said that, if either of these acquisitions is not completed, the company intends to use the net proceeds from the offering for general corporate purposes, which may include the financing of future acquisitions, capital expenditures, additions to working capital, repurchases, repayment or refinancing of debt or stock repurchases.

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