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Cloud Peak eyes sale potential, coal production down and a little-known wind job
Cloud Peak looks at optionsWyoming's only pure Powder River Basin player, Cloud Peak Energy, will consider a number of strategies going forward, including selling the company. The company's execs also recently signed retention bonuses up to 100 percent of their salary.
Wyoming's coal industry has stabilized after being rocked by a market downturn. But the new normal for coal is uncertain as companies are competing for a smaller pool of buyers across the U.S. However, a sale wouldn't be an easy out for Cloud Peak, as reported in S&P Global Market Intelligence.
Coal production down
Wyoming coal production fell in the third quarter compared to last year. About half of the 4 million-ton drop occurred at Cloud Peak's Antelope Mine, where washouts impeded production.
Production rose statewide from earlier in the year by 20 percent.
Read more: https://trib.com/business/energy/cloud-peak-eyes-sale-potential-coal-production-down-and-a/article_e50ca993-bbb6-5b89-aff2-f6eae79f529d.html