Consol, GeoMet Resolve Drilling, Antitrust Disputes

Law360, New York (May 5, 2010, 5:00 PM EDT) -- Consol Energy Inc. and its affiliate CNX Gas Corp. have agreed to grant GeoMet Inc. consent to drill coalbed methane wells on certain property in Virginia, a settlement that resolves nearly a dozen outstanding disputes — including GeoMet's $561 million antitrust suit — between the companies.

Houston-based GeoMet announced Wednesday that the parties had reached a global settlement of all pending litigation that “provides a basis for future cooperation between the GeoMet and Consol/CNX.”

The resolution settles nine suits over GeoMet's desire to construct both CBM...
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