false--12-31Q120202020-03-31000163755800.04000.05960.04000.058327632824276902510 0001637558 2020-01-01 2020-03-31 0001637558 2020-04-22 0001637558 cnxc:OperatingAndOtherCostsMember us-gaap:MajorityShareholderMember 2019-01-01 2019-03-31 0001637558 cnxc:OperatingAndOtherCostsMember us-gaap:MajorityShareholderMember 2020-01-01 2020-03-31 0001637558 us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:MajorityShareholderMember 2020-01-01 2020-03-31 0001637558 us-gaap:InterestExpenseMember us-gaap:MajorityShareholderMember 2020-01-01 2020-03-31 0001637558 us-gaap:InterestExpenseMember us-gaap:MajorityShareholderMember 2019-01-01 2019-03-31 0001637558 us-gaap:SellingGeneralAndAdministrativeExpensesMember us-gaap:MajorityShareholderMember 2019-01-01 2019-03-31 0001637558 2019-01-01 2019-03-31 0001637558 cnxc:CoalRevenueMember 2019-01-01 2019-03-31 0001637558 cnxc:CoalRevenueMember 2020-01-01 2020-03-31 0001637558 cnxc:FreightRevenueMember 2020-01-01 2020-03-31 0001637558 cnxc:FreightRevenueMember 2019-01-01 2019-03-31 0001637558 2020-03-31 0001637558 2019-12-31 0001637558 cnxc:CommonUnitsMember us-gaap:LimitedPartnerMember 2020-03-31 0001637558 us-gaap:GeneralPartnerMember 2020-01-01 2020-03-31 0001637558 cnxc:CommonUnitsMember us-gaap:LimitedPartnerMember 2020-01-01 2020-03-31 0001637558 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-12-31 0001637558 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-03-31 0001637558 cnxc:SubordinatedUnitsMember us-gaap:LimitedPartnerMember 2020-03-31 0001637558 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-01-01 2020-03-31 0001637558 us-gaap:GeneralPartnerMember 2019-12-31 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustmentMember 2019-12-31 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:GeneralPartnerMember 2019-12-31 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustmentMember cnxc:CommonUnitsMember us-gaap:LimitedPartnerMember 2019-12-31 0001637558 us-gaap:GeneralPartnerMember 2020-03-31 0001637558 cnxc:SubordinatedUnitsMember us-gaap:LimitedPartnerMember 2019-12-31 0001637558 cnxc:CommonUnitsMember us-gaap:LimitedPartnerMember 2019-12-31 0001637558 cnxc:SubordinatedUnitsMember us-gaap:LimitedPartnerMember 2019-01-01 2019-03-31 0001637558 us-gaap:GeneralPartnerMember 2019-01-01 2019-03-31 0001637558 cnxc:CommonUnitsMember us-gaap:LimitedPartnerMember 2018-12-31 0001637558 us-gaap:GeneralPartnerMember 2019-03-31 0001637558 cnxc:CommonUnitsMember us-gaap:LimitedPartnerMember 2019-03-31 0001637558 cnxc:CommonUnitsMember us-gaap:LimitedPartnerMember 2019-01-01 2019-03-31 0001637558 cnxc:SubordinatedUnitsMember us-gaap:LimitedPartnerMember 2018-12-31 0001637558 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001637558 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001637558 2019-03-31 0001637558 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001637558 us-gaap:GeneralPartnerMember 2018-12-31 0001637558 2018-12-31 0001637558 cnxc:SubordinatedUnitsMember us-gaap:LimitedPartnerMember 2019-03-31 0001637558 cnxc:PennsylvaniaMiningComplexMember 2020-01-01 2020-03-31 0001637558 cnxc:CommonUnitsMember 2019-01-01 2019-03-31 0001637558 cnxc:SubordinatedUnitsMember 2019-01-01 2019-03-31 0001637558 cnxc:SubordinatedUnitsMember 2020-01-01 2020-03-31 0001637558 cnxc:CommonUnitsMember 2020-01-01 2020-03-31 0001637558 cnxc:CommonUnitsMember 2019-08-16 0001637558 cnxc:SubordinatedUnitsMember 2019-08-16 2019-08-16 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustedBalanceMember cnxc:OtherReceivablesMember 2020-01-01 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:TradeAccountsReceivableMember 2020-01-01 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustedBalanceMember 2020-01-01 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustmentMember cnxc:OtherReceivablesMember 2020-01-01 0001637558 cnxc:OtherReceivablesMember 2020-01-01 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustmentMember 2020-01-01 0001637558 2020-01-01 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustedBalanceMember us-gaap:TradeAccountsReceivableMember 2020-01-01 0001637558 us-gaap:TradeAccountsReceivableMember 2020-01-01 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustmentMember us-gaap:TradeAccountsReceivableMember 2019-12-31 0001637558 us-gaap:TradeAccountsReceivableMember 2019-12-31 0001637558 cnxc:OtherReceivablesMember 2020-03-31 0001637558 cnxc:CumulativeEffectPeriodofAdoptionAdjustmentMember cnxc:OtherReceivablesMember 2019-12-31 0001637558 cnxc:OtherReceivablesMember 2019-12-31 0001637558 us-gaap:TradeAccountsReceivableMember 2020-01-01 2020-03-31 0001637558 us-gaap:TradeAccountsReceivableMember 2020-03-31 0001637558 cnxc:OtherReceivablesMember 2020-01-01 2020-03-31 0001637558 us-gaap:MiningPropertiesAndMineralRightsMember 2020-03-31 0001637558 cnxc:AirshaftsMember 2020-03-31 0001637558 cnxc:AirshaftsMember 2019-12-31 0001637558 us-gaap:MineDevelopmentMember 2019-12-31 0001637558 us-gaap:MiningPropertiesAndMineralRightsMember 2019-12-31 0001637558 cnxc:CoalAndOtherPlantAndEquipmentMember 2020-03-31 0001637558 cnxc:CoalAndOtherPlantAndEquipmentMember 2019-12-31 0001637558 cnxc:CoalAdvanceMiningRoyaltiesMember 2020-03-31 0001637558 us-gaap:MineDevelopmentMember 2020-03-31 0001637558 cnxc:CoalAdvanceMiningRoyaltiesMember 2019-12-31 0001637558 srt:MaximumMember cnxc:AffiliatedCompanyCreditAgreementMember us-gaap:LineOfCreditMember srt:AffiliatedEntityMember 2017-11-28 0001637558 cnxc:AffiliatedCompanyCreditAgreementMember us-gaap:LineOfCreditMember srt:AffiliatedEntityMember 2020-03-31 0001637558 cnxc:AffiliatedCompanyCreditAgreementMember us-gaap:LineOfCreditMember srt:AffiliatedEntityMember 2017-11-28 0001637558 cnxc:AffiliatedCompanyCreditAgreementMember us-gaap:LineOfCreditMember srt:AffiliatedEntityMember 2020-01-01 2020-03-31 0001637558 cnxc:AffiliatedCompanyCreditAgreementMember us-gaap:LineOfCreditMember srt:AffiliatedEntityMember 2019-12-31 0001637558 srt:MinimumMember cnxc:AffiliatedCompanyCreditAgreementMember us-gaap:LineOfCreditMember srt:AffiliatedEntityMember 2017-11-28 0001637558 us-gaap:RevolvingCreditFacilityMember us-gaap:SecuredDebtMember 2020-03-31 0001637558 us-gaap:RevolvingCreditFacilityMember us-gaap:SecuredDebtMember 2019-12-31 0001637558 cnxc:OtherAssetBackedFinancingMember us-gaap:SecuredDebtMember 2020-03-31 0001637558 cnxc:OtherAssetBackedFinancingMember us-gaap:SecuredDebtMember 2019-12-31 0001637558 cnxc:OtherAssetBackedFinancingMember us-gaap:SecuredDebtMember 2020-01-01 2020-03-31 0001637558 cnxc:OtherAssetBackedFinancingMember us-gaap:SecuredDebtMember 2019-01-01 2019-12-31 0001637558 us-gaap:RevolvingCreditFacilityMember us-gaap:SecuredDebtMember 2020-01-01 2020-03-31 0001637558 us-gaap:RevolvingCreditFacilityMember us-gaap:SecuredDebtMember 2019-01-01 2019-12-31 0001637558 cnxc:WorkersCompensationMember 2020-01-01 2020-03-31 0001637558 cnxc:WorkersCompensationMember 2019-01-01 2019-03-31 0001637558 cnxc:CoalWorkersPneumoconiosisMember 2020-01-01 2020-03-31 0001637558 cnxc:CoalWorkersPneumoconiosisMember 2019-01-01 2019-03-31 0001637558 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2020-03-31 0001637558 us-gaap:CarryingReportedAmountFairValueDisclosureMember 2019-12-31 0001637558 us-gaap:SuretyBondMember cnxc:EnvironmentRelatedContingencyMember 2020-03-31 0001637558 us-gaap:SuretyBondMember cnxc:EmployeeRelatedContingencyAndOtherMember 2020-01-01 2020-03-31 0001637558 us-gaap:SuretyBondMember cnxc:EmployeeRelatedContingencyAndOtherMember 2020-03-31 0001637558 us-gaap:FinancialStandbyLetterOfCreditMember 2020-01-01 2020-03-31 0001637558 us-gaap:SuretyBondMember cnxc:EnvironmentRelatedContingencyMember 2020-01-01 2020-03-31 0001637558 us-gaap:FinancialStandbyLetterOfCreditMember 2020-03-31 0001637558 srt:MaximumMember cnxc:ReceivablesFinancingAgreementMember 2017-11-30 2017-11-30 0001637558 cnxc:ReceivablesFinancingAgreementMember 2020-01-01 2020-03-31 0001637558 srt:MinimumMember cnxc:ReceivablesFinancingAgreementMember 2017-11-30 2017-11-30 0001637558 cnxc:ReceivablesFinancingAgreementMember 2017-11-30 0001637558 cnxc:ReceivablesFinancingAgreementMember 2019-01-01 2019-12-31 0001637558 cnxc:InterestExpenseIncludingCapitalizedInterestMember us-gaap:MajorityShareholderMember 2019-01-01 2019-03-31 0001637558 us-gaap:MajorityShareholderMember 2019-12-31 0001637558 cnxc:InterestExpenseIncludingCapitalizedInterestMember us-gaap:MajorityShareholderMember 2020-01-01 2020-03-31 0001637558 2019-05-31 0001637558 us-gaap:MajorityShareholderMember 2020-03-31 0001637558 cnxc:CapitalizedInterestMember us-gaap:MajorityShareholderMember 2019-01-01 2019-03-31 0001637558 us-gaap:MajorityShareholderMember 2020-01-01 2020-03-31 0001637558 us-gaap:MajorityShareholderMember 2019-01-01 2019-03-31 0001637558 us-gaap:PhantomShareUnitsPSUsMember cnxc:LongTermIncentivePlanMember 2019-12-31 0001637558 us-gaap:PhantomShareUnitsPSUsMember cnxc:LongTermIncentivePlanMember 2020-01-01 2020-03-31 0001637558 us-gaap:PhantomShareUnitsPSUsMember cnxc:LongTermIncentivePlanMember 2020-03-31 0001637558 us-gaap:PhantomShareUnitsPSUsMember cnxc:CommonUnitsMember 2020-01-01 2020-03-31 0001637558 cnxc:CommonUnitsMember 2020-03-31 0001637558 us-gaap:SellingGeneralAndAdministrativeExpensesMember cnxc:CommonUnitsMember 2020-01-01 2020-03-31 0001637558 us-gaap:SellingGeneralAndAdministrativeExpensesMember cnxc:CommonUnitsMember 2019-01-01 2019-03-31 0001637558 us-gaap:PhantomShareUnitsPSUsMember 2019-01-01 2019-03-31 0001637558 us-gaap:PhantomShareUnitsPSUsMember 2020-01-01 2020-03-31 0001637558 us-gaap:PhantomShareUnitsPSUsMember cnxc:CommonUnitsMember 2020-03-31 xbrli:pure xbrli:shares iso4217:USD xbrli:shares iso4217:USD

0001637558 CONSOL Coal Resources LP false --12-31 Q2 2020 27,690,251 27,632,824 39,673 0 3 3 3 3.75 50 0 6,884 17.35 0 Related Party of $1,864 and $1,974 for the three months ended and $4,657 and $5,030 for the six months ended June 30, 2020 and June 30, 2019, respectively. Excludes current portion of Finance Lease Obligations of $4,532 and at $3,809 at June 30, 2020 and December 31, 2019, respectively. Related Party of $2,065 and $1,557 for the three months ended and $4,061 and $2,908 for the six months ended June 30, 2020 and June 30, 2019, respectively. Related Party of $856 and $767 for the three months ended and $1,709 and $1,530 for the six months ended June 30, 2020 and June 30, 2019, respectively. Represents the cash distributions declared related to the period presented. 00016375582020-01-012020-06-30 xbrli:shares 00016375582020-07-22 thunderdome:item iso4217:USD 0001637558ccr:CoalRevenueMember2020-04-012020-06-30 0001637558ccr:CoalRevenueMember2019-04-012019-06-30 0001637558ccr:CoalRevenueMember2020-01-012020-06-30 0001637558ccr:CoalRevenueMember2019-01-012019-06-30 0001637558ccr:FreightRevenueMember2020-04-012020-06-30 0001637558ccr:FreightRevenueMember2019-04-012019-06-30 0001637558ccr:FreightRevenueMember2020-01-012020-06-30 0001637558ccr:FreightRevenueMember2019-01-012019-06-30 00016375582020-04-012020-06-30 00016375582019-04-012019-06-30 00016375582019-01-012019-06-30 iso4217:USDxbrli:shares 00016375582020-06-30 00016375582019-12-31 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2019-12-31 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2019-12-31 0001637558us-gaap:GeneralPartnerMember2019-12-31 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-31 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2020-01-012020-03-31 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2020-01-012020-03-31 0001637558us-gaap:GeneralPartnerMember2020-01-012020-03-31 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-31 00016375582020-01-012020-03-31 0001637558us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberccr:CommonMemberus-gaap:LimitedPartnerMember2019-12-31 0001637558us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2019-12-31 0001637558us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:GeneralPartnerMember2019-12-31 0001637558us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-31 0001637558us-gaap:AccountingStandardsUpdate201613Membersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-31 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2020-03-31 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2020-03-31 0001637558us-gaap:GeneralPartnerMember2020-03-31 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-31 00016375582020-03-31 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2020-04-012020-06-30 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2020-04-012020-06-30 0001637558us-gaap:GeneralPartnerMember2020-04-012020-06-30 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-30 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2020-06-30 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2020-06-30 0001637558us-gaap:GeneralPartnerMember2020-06-30 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-30 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2018-12-31 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2018-12-31 0001637558us-gaap:GeneralPartnerMember2018-12-31 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2018-12-31 00016375582018-12-31 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2019-01-012019-03-31 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2019-01-012019-03-31 0001637558us-gaap:GeneralPartnerMember2019-01-012019-03-31 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-01-012019-03-31 00016375582019-01-012019-03-31 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2019-03-31 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2019-03-31 0001637558us-gaap:GeneralPartnerMember2019-03-31 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-03-31 00016375582019-03-31 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2019-04-012019-06-30 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2019-04-012019-06-30 0001637558us-gaap:GeneralPartnerMember2019-04-012019-06-30 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-04-012019-06-30 0001637558ccr:CommonMemberus-gaap:LimitedPartnerMember2019-06-30 0001637558ccr:SubordinatedUnitsMemberus-gaap:LimitedPartnerMember2019-06-30 0001637558us-gaap:GeneralPartnerMember2019-06-30 0001637558us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-06-30 00016375582019-06-30 xbrli:pure 0001637558ccr:PennsylvaniaMiningComplexMember2020-01-012020-06-30 0001637558ccr:SubordinatedUnitsMember2019-08-162019-08-16 utr:Rate 00016375582019-08-16 0001637558ccr:CommonUnitsMember2020-04-012020-06-30 0001637558ccr:CommonUnitsMember2019-04-012019-06-30 0001637558ccr:CommonUnitsMember2020-01-012020-06-30 0001637558ccr:CommonUnitsMember2019-01-012019-06-30 0001637558ccr:SubordinatedUnitsMember2020-04-012020-06-30 0001637558ccr:SubordinatedUnitsMember2019-04-012019-06-30 0001637558ccr:SubordinatedUnitsMember2020-01-012020-06-30 0001637558ccr:SubordinatedUnitsMember2019-01-012019-06-30 0001637558us-gaap:PhantomShareUnitsPSUsMember2020-04-012020-06-30 0001637558us-gaap:PhantomShareUnitsPSUsMember2020-01-012020-06-30 0001637558us-gaap:PhantomShareUnitsPSUsMember2019-04-012019-06-30 0001637558us-gaap:PhantomShareUnitsPSUsMember2019-01-012019-06-30 0001637558srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-01-01 0001637558us-gaap:TradeAccountsReceivableMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-01-01 0001637558us-gaap:TradeAccountsReceivableMember2020-01-01 0001637558us-gaap:TradeAccountsReceivableMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-01-01 0001637558ccr:OtherReceivablesMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-01-01 0001637558ccr:OtherReceivablesMember2020-01-01 0001637558ccr:OtherReceivablesMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2020-01-01 0001637558srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-01-01 00016375582020-01-01 0001637558us-gaap:TradeAccountsReceivableMember2019-12-31 0001637558ccr:OtherReceivablesMember2019-12-31 0001637558us-gaap:TradeAccountsReceivableMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-31 0001637558ccr:OtherReceivablesMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-31 0001637558us-gaap:TradeAccountsReceivableMember2020-01-012020-06-30 0001637558ccr:OtherReceivablesMember2020-01-012020-06-30 0001637558us-gaap:TradeAccountsReceivableMember2020-06-30 0001637558ccr:OtherReceivablesMember2020-06-30 0001637558ccr:CoalAndOtherPlantAndEquipmentMember2020-06-30 0001637558ccr:CoalAndOtherPlantAndEquipmentMember2019-12-31 0001637558us-gaap:MiningPropertiesAndMineralRightsMember2020-06-30 0001637558us-gaap:MiningPropertiesAndMineralRightsMember2019-12-31 0001637558ccr:AirshaftsMember2020-06-30 0001637558ccr:AirshaftsMember2019-12-31 0001637558us-gaap:MineDevelopmentMember2020-06-30 0001637558us-gaap:MineDevelopmentMember2019-12-31 0001637558ccr:CoalAdvanceMiningRoyaltiesMember2020-06-30 0001637558ccr:CoalAdvanceMiningRoyaltiesMember2019-12-31 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:SecuredDebtMember2020-06-30 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:SecuredDebtMember2019-12-31 0001637558ccr:OtherAssetBackedFinancingMemberus-gaap:SecuredDebtMember2020-06-30 0001637558ccr:OtherAssetBackedFinancingMemberus-gaap:SecuredDebtMember2019-12-31 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:AffiliatedEntityMember2020-06-052020-06-05 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:AffiliatedEntityMember2017-11-28 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:MinimumMembersrt:AffiliatedEntityMember2017-11-28 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:MaximumMembersrt:AffiliatedEntityMember2017-11-28 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:AffiliatedEntityMember2020-01-012020-06-30 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:AffiliatedEntityMember2020-06-30 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:AffiliatedEntityMember2019-12-31 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:AffiliatedEntityMembersrt:ScenarioForecastMember2021-04-012021-09-30 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:AffiliatedEntityMembersrt:ScenarioForecastMember2021-10-012022-03-31 0001637558ccr:AffiliatedCompanyCreditAgreementMemberus-gaap:LineOfCreditMembersrt:AffiliatedEntityMembersrt:ScenarioForecastMember2022-04-012022-09-30 0001637558ccr:CwpMember2020-04-012020-06-30 0001637558ccr:CwpMember2019-04-012019-06-30 0001637558ccr:CwpMember2020-01-012020-06-30 0001637558ccr:CwpMember2019-01-012019-06-30 0001637558ccr:WorkersCompensationMember2020-04-012020-06-30 0001637558ccr:WorkersCompensationMember2019-04-012019-06-30 0001637558ccr:WorkersCompensationMember2020-01-012020-06-30 0001637558ccr:WorkersCompensationMember2019-01-012019-06-30 0001637558us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-06-30 0001637558us-gaap:CarryingReportedAmountFairValueDisclosureMember2019-12-31 0001637558us-gaap:FinancialStandbyLetterOfCreditMember2020-06-30 utr:Y 0001637558us-gaap:FinancialStandbyLetterOfCreditMember2020-01-012020-06-30 0001637558ccr:EnvironmentRelatedContingencyMember2020-06-30 0001637558ccr:EnvironmentRelatedContingencyMember2020-01-012020-06-30 0001637558ccr:EmployeeRelatedContingencyAndOtherMember2020-06-30 0001637558ccr:EmployeeRelatedContingencyAndOtherMember2020-01-012020-06-30 00016375582017-11-30 0001637558srt:MinimumMember2017-11-302017-11-30 0001637558srt:MaximumMember2017-11-302017-11-30 00016375582019-01-012019-12-31 0001637558us-gaap:OperatingExpenseMember2020-04-012020-06-30 0001637558us-gaap:OperatingExpenseMember2019-04-012019-06-30 0001637558us-gaap:OperatingExpenseMember2020-01-012020-06-30 0001637558us-gaap:OperatingExpenseMember2019-01-012019-06-30 0001637558us-gaap:SellingGeneralAndAdministrativeExpensesMember2020-04-012020-06-30 0001637558us-gaap:SellingGeneralAndAdministrativeExpensesMember2019-04-012019-06-30 0001637558us-gaap:SellingGeneralAndAdministrativeExpensesMember2020-01-012020-06-30 0001637558us-gaap:SellingGeneralAndAdministrativeExpensesMember2019-01-012019-06-30 0001637558us-gaap:MajorityShareholderMember2020-06-30 0001637558us-gaap:MajorityShareholderMember2019-12-31 0001637558ccr:InterestExpenseIncludingCapitalizedInterestMemberus-gaap:MajorityShareholderMember2020-04-012020-06-30 0001637558ccr:InterestExpenseIncludingCapitalizedInterestMemberus-gaap:MajorityShareholderMember2020-01-012020-06-30 0001637558ccr:CapitalizedInterestMemberus-gaap:MajorityShareholderMember2020-04-012020-06-30 0001637558ccr:CapitalizedInterestMemberus-gaap:MajorityShareholderMember2020-01-012020-06-30 0001637558ccr:InterestExpenseIncludingCapitalizedInterestMemberus-gaap:MajorityShareholderMember2019-04-012019-06-30 0001637558ccr:InterestExpenseIncludingCapitalizedInterestMemberus-gaap:MajorityShareholderMember2019-01-012019-06-30 0001637558ccr:CapitalizedInterestMemberus-gaap:MajorityShareholderMember2019-04-012019-06-30 0001637558ccr:CapitalizedInterestMemberus-gaap:MajorityShareholderMember2019-01-012019-06-30 0001637558us-gaap:InterestExpenseMemberus-gaap:MajorityShareholderMember2020-04-012020-06-30 0001637558us-gaap:InterestExpenseMemberus-gaap:MajorityShareholderMember2020-01-012020-06-30 0001637558us-gaap:InterestExpenseMemberus-gaap:MajorityShareholderMember2019-04-012019-06-30 0001637558us-gaap:InterestExpenseMemberus-gaap:MajorityShareholderMember2019-01-012019-06-30 00016375582019-05-31 0001637558ccr:SubordinatedUnitsMember2019-08-012019-08-31 0001637558ccr:CommonUnitsMember2020-06-30 0001637558us-gaap:SellingGeneralAndAdministrativeExpensesMemberccr:CommonUnitsMember2020-04-012020-06-30 0001637558us-gaap:SellingGeneralAndAdministrativeExpensesMemberccr:CommonUnitsMember2020-01-012020-06-30 0001637558us-gaap:SellingGeneralAndAdministrativeExpensesMemberccr:CommonUnitsMember2019-04-012019-06-30 0001637558us-gaap:SellingGeneralAndAdministrativeExpensesMemberccr:CommonUnitsMember2019-01-012019-06-30

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

__________________________________________________

FORM 10-Q

__________________________________________________

(Mark One)


☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended ~~March 31~~June 30, 2020


☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number: 001-14901

__________________________________________________

CONSOL Coal Resources LP

(Exact name of registrant as specified in its charter)

Delaware		47-3445032
(State or other jurisdiction ofincorporation or organization)		(I.R.S. EmployerIdentification No.)
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

1000 CONSOL Energy Drive, Suite 100

Canonsburg, PA 15317-6506

(724) 416-8300

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

__________________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Units representing limited partner interests	CCR	New York Stock Exchange

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☒ Non-accelerated filer ☐ Smaller Reporting Company ☒ Emerging Growth Company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

CONSOL Coal Resources LP had 27,690,251 common units and a 1.7% general partner interest outstanding at ~~April~~ July 22, 2020.

Table of Contents

TABLE OF CONTENTS

		Page
	Part I. Financial Information
Item 1.	Financial Statements	4
	Consolidated Statements of Operations for the three months ended March 31, 2020 and 2019	4
	Consolidated Statements of Operations for the three and six months ended June 30, 2020 and 2019	4
	Consolidated Statements of Comprehensive Income for the three months ended March 31, 2020 and 2019	5
	Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2020 and 2019	5
	Consolidated Balance Sheets at March 31, 2020 and December 31, 2019	6
	Consolidated Balance Sheets at June 30, 2020 and December 31, 2019	6
	Consolidated Statement of Partners’ Capital for the three months ended March 31, 2020 and 2019	7
	Consolidated Statement of Partners’ Capital for the three and six months ended June 30, 2020 and 2019	7
	Consolidated Statements of Cash Flows for the three months ended March 31, 2020 and 2019	8
	Consolidated Statements of Cash Flows for the six months ended June 30, 2020 and 2019	8
	Notes to the Consolidated Financial Statements	9
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	19
Item 4.	Controls and Procedures	3033
	Part II. Other Information
Item 1.	Legal Proceedings	3033
Item 1A.	Risk Factors	3034
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	3134
Item 4.	Mine Safety Disclosures	3134
Item 6.	Exhibits	3135
	Signatures	3336

Table of Contents

Significant Relationships and Other Terms Referenced in this Quarterly Report

•

“CONSOL Coal Resources LP,” the “Partnership,” “we,” “our,” “us” and similar terms refer to CONSOL Coal Resources LP, a Delaware limited partnership, and its subsidiaries, with common units listed for trading on the New York Stock Exchange under the ticker “CCR”;

• “Affiliated Company Credit Agreement” refers to an agreement entered into on November 28, 2017 among the Partnership and certain of its subsidiaries (collectively, the “Credit Parties”), CONSOL Energy, as lender and administrative agent, and PNC Bank, National Association, as collateral agent (“PNC”), as amended by Amendment No. 1 to Affiliated Company Credit Agreement, dated March 28, 2019 and Amendment No. 2 to Affiliated Company Credit Agreement, dated June 5, 2020. The Affiliated Company Credit Agreement provides for a revolving credit facility in an aggregate principal amount of up to $275 million to be provided by CONSOL Energy, as lender;

•

“common units” refer to the limited partner interests in CONSOL Coal Resources LP. The holders of common units are entitled to participate in partnership distributions and are entitled to exercise the rights or privileges of limited partners under the Partnership Agreement. The common units are listed on the New York Stock Exchange under the symbol “CCR”;

•

“CONSOL Coal Finance” refers to CONSOL Coal Finance Corporation, a Delaware corporation and a direct, wholly owned subsidiary of the Partnership;

•

“CONSOL Energy” and our “sponsor” refer to CONSOL Energy Inc., a Delaware corporation and the parent of our general partner, and its subsidiaries other than our general partner, us and our subsidiaries;

•

“CONSOL Operating” refers to CONSOL Operating LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of the Partnership;

•

“CONSOL Thermal Holdings” refers to CONSOL Thermal Holdings LLC, a Delaware limited liability company and a direct, wholly owned subsidiary of CONSOL Operating; CONSOL Thermal Holdings owns a 25% undivided interest in the assets, liabilities, revenues and expenses comprising the Pennsylvania Mining Complex;

•

“CPCC” refers to CONSOL Pennsylvania Coal Company LLC, a Delaware limited liability company and a wholly owned subsidiary of CONSOL Energy;

•

“general partner” refers to CONSOL Coal Resources GP LLC, a Delaware limited liability company and our general partner;

•

“Omnibus Agreement” refers to the Omnibus Agreement dated July 7, 2015, as replaced by the First Amended and Restated Omnibus Agreement dated as of September 30, 2016, and as amended by the First Amendment to the First Amended and Restated Omnibus Agreement, dated November 28, 2017;

•

“Partnership Agreement” refers to the Third Amended and Restated Partnership Agreement dated as of November 28, 2017;

•

“Pennsylvania Mining Complex” refers to the Bailey, Enlow Fork, and Harvey coal mines, coal reserves and related assets and operations, located primarily in southwestern Pennsylvania. The Pennsylvania Mining Complex is owned 75% by our sponsor and its subsidiaries and 25% by CONSOL Thermal Holdings;

•

“SEC” refers to the United States Securities and Exchange Commission; and

•

“subordinated units” refer to limited partner interests in CONSOL Coal Resources LP having the rights and obligations specified with respect to subordinated units in the Partnership Agreement. On August 16, 2019, all 11,611,067 subordinated units, which were owned entirely by CONSOL Energy Inc., were converted into common units on a one-for-one basis. As of the date of this Quarterly Report on Form 10-Q, there are no outstanding subordinated units.

Table of Contents

PART I: FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

CONSOL COAL RESOURCES LP

CONSOLIDATED STATEMENTS OF OPERATIONS

(Dollars in thousands, except unit data)

(unaudited)

	Three Months EndedMarch 31,
		Three Months Ended						Six Months Ended
	2020				2019
		June 30,						June 30,
Coal Revenue	$	63,863			$	83,126
		2020				2019		2020			2019
Freight Revenue	787				1,665
Coal Revenue		$	25,507			$	87,655	$	89,370		$	170,781
Other Income	2,718				1,316
Freight Revenue			771				964		1,558			2,629
Total Revenue and Other Income	67,368				86,107
Other Income			7,549				1,028		10,267			2,344
Operating and Other Costs 1	48,288				52,094
Total Revenue and Other Income			33,827				89,647		101,195			175,754
Depreciation, Depletion and Amortization	11,928				11,217
Operating and Other Costs 1			24,776				58,450		73,064			110,544
Freight Expense	787				1,665
Depreciation, Depletion and Amortization			11,520				11,336		23,448			22,553
Selling, General and Administrative Expenses 2	4,046				4,560
Freight Expense			771				964		1,558			2,629
Interest Expense, Net 3	2,155				1,351
Selling, General and Administrative Expenses 2			2,360				2,953		6,406			7,513
Total Costs	67,204				70,887
Interest Expense, Net 3			2,254				1,557		4,409			2,908
Net Income	$	164			$	15,220
Total Costs			41,681				75,260		108,885			146,147
Less: General Partner Interest in Net Income	3				257
Net (Loss) Income		$	(7,854	)		$	14,387	$	(7,690	)	$	29,607
Limited Partner Interest in Net Income	$	161			$	14,963
Less: General Partner Interest in Net (Loss) Income			(132	)			242		(129	)		499
Net Income per Limited Partner Unit - Basic	$	0.01			$	0.54
Limited Partner Interest in Net (Loss) Income		$	(7,722	)		$	14,145	$	(7,561	)	$	29,108
Net Income per Limited Partner Unit - Diluted	$	0.01			$	0.54
Net (Loss) Income per Limited Partner Unit - Basic		$	(0.28	)		$	0.51	$	(0.27	)	$	1.05
Limited Partner Units Outstanding - Basic	27,665,008				27,589,172
Net (Loss) Income per Limited Partner Unit - Diluted		$	(0.28	)		$	0.51	$	(0.27	)	$	1.05
Limited Partner Units Outstanding - Diluted	27,685,284				27,645,697
Limited Partner Units Outstanding - Basic			27,690,251				27,632,766		27,677,630			27,611,089
Cash Distributions Declared per Unit 4	$	—			$	0.5125
Limited Partner Units Outstanding - Diluted			27,690,251				27,653,823		27,677,630			27,649,547
Cash Distributions Declared per Unit 4		$	—			$	0.5125	$	—		$	1.0250

1 Related Party of $~~853~~ 856 and $~~763~~ 767 for the three months ended ~~March~~and 31$1,709 and $1,530 for the six months ended June 30, 2020 and ~~March 31~~June 30, 2019, respectively.

2 Related Party of $21,~~793~~ 864 and $31,~~056~~ 974 for the three months ended ~~March~~and 31$4,657 and $5,030 for the six months ended June 30, 2020 and ~~March 31~~June 30, 2019, respectively.

~~3Related~~3 Related ~~party~~Party of $12,~~996~~ 065 and $1,~~351~~557 for the three months ended ~~March~~and $4,061 31and $2,908 for the six months ended June 30, 2020 and ~~March 31~~June 30, 2019, respectively.

4 Represents the cash distributions declared related to the period presented. ~~See Note 15 - Subsequent Events.~~

The accompanying notes are an integral part of these consolidated financial statements.

~~CONSOL~~ Table ~~COAL~~of ~~RESOURCES LP~~Contents

~~CONSOLIDATED~~CONSOL ~~STATEMENTS~~COAL OFRESOURCES ~~COMPREHENSIVE INCOME~~LP

~~(Dollars~~CONSOLIDATED inSTATEMENTS ~~thousands)~~OF COMPREHENSIVE INCOME

(~~unaudited~~Dollars in thousands)

	Three Months EndedMarch 31,
	2020		2019
Net Income	$	164	$	15,220
Recognized Net Actuarial Loss (Gain)	39		(3		)
Other Comprehensive Income (Loss)	39		(3		)
Comprehensive Income	$	203	$	15,217

(unaudited)

The accompanying notes are an integral part of these consolidated financial statements.

	*Three Months Ended*						*Six Months Ended*
	*June 30,*						*June 30,*
	*2020*			*2019*			*2020*			*2019*
Net (Loss) Income	$	(7,854	)	$	14,387		$	(7,690	)	$	29,607

Recognized Net Actuarial Gain (Loss)		38			(3	)		77			(6	)
Other Comprehensive Income (Loss)		38			(3	)		77			(6	)

Comprehensive (Loss) Income	$	(7,816	)	$	14,384		$	(7,613	)	$	29,601

5The accompanying notes are an integral part of these consolidated financial statements.

~~CONSOL COAL RESOURCES LP~~ 5

~~CONSOLIDATED~~ Table ~~BALANCE~~of ~~SHEETS~~Contents

~~(Dollars~~CONSOL inCOAL ~~thousands)~~RESOURCES LP

	(unaudited)
	March 31, 2020		December 31, 2019
ASSETS
Current Assets:
Cash	$	223	$	543
Trade Receivables, net of allowance	28,145		32,769
Other Receivables	2,224		1,572
Inventories	13,786		12,653
Prepaid Expenses	4,371		5,746
Total Current Assets	48,749		53,283
Property, Plant and Equipment:
Property, Plant and Equipment	993,820		984,898
Less—Accumulated Depreciation, Depletion and Amortization	582,942		571,238
Total Property, Plant and Equipment—Net	410,878		413,660
Other Assets:
Right of Use Asset—Operating Leases	14,519		15,695
Other Assets	13,441		13,456
Total Other Assets	27,960		29,151
TOTAL ASSETS	$	487,587	$	496,094

CONSOLIDATED BALANCE SHEETS

LIABILITIES AND PARTNERS’ CAPITAL
Current Liabilities:
Accounts Payable	$	19,172	$	22,805
Accounts Payable—Related Party	4,279		1,419
Current Portion of Long-Term Debt	8,912		5,252
Other Accrued Liabilities	39,584		39,455
Total Current Liabilities	71,947		68,931
Long-Term Debt:
Affiliated Company Credit Agreement—Related Party	180,600		180,925
Finance Lease Obligations	5,075		1,645
Total Long-Term Debt	185,675		182,570
Other Liabilities:
Pneumoconiosis Benefits	6,269		6,028
Workers’ Compensation	3,648		3,611
Asset Retirement Obligations	10,968		10,801
Operating Lease Liability	10,936		11,507
Other	823		785
Total Other Liabilities	32,644		32,732
TOTAL LIABILITIES	290,266		284,233
Partners’ Capital:
Common Units (27,690,251 Units Outstanding at March 31, 2020; 27,632,824 Units Outstanding at December 31, 2019)	175,032		189,367
General Partner Interest	11,671		11,915
Accumulated Other Comprehensive Income	10,618		10,579
Total Partners’ Capital	197,321		211,861
TOTAL LIABILITIES AND PARTNERS’ CAPITAL	$	487,587	$	496,094

(Dollars in thousands)

The accompanying notes are an integral part of these consolidated financial statements.

	(unaudited)
	*June 30,*		*December 31,*
	*2020*		*2019*
ASSETS
Current Assets:
Cash	$	102	$	543
Trade Receivables, net		21,391		32,769
Other Receivables, net		747		1,572
Inventories		14,122		12,653
Prepaid Expenses		2,761		5,746
Total Current Assets		39,123		53,283
Property, Plant and Equipment:
Property, Plant and Equipment		1,001,044		984,898
Less—Accumulated Depreciation, Depletion and Amortization		594,233		571,238
Total Property, Plant and Equipment—Net		406,811		413,660
Other Assets:
Right of Use Asset—Operating Leases		13,335		15,695
Other Assets		13,246		13,456
Total Other Assets		26,581		29,151
TOTAL ASSETS	$	472,515	$	496,094


LIABILITIES AND PARTNERS’ CAPITAL
Current Liabilities:
Accounts Payable	$	13,292	$	22,805
Accounts Payable—Related Party		4,731		1,419
Current Portion of Long-Term Debt		8,763		5,252
Other Accrued Liabilities		39,617		39,455
Total Current Liabilities		66,403		68,931
Long-Term Debt:
Affiliated Company Credit Agreement—Related Party		179,560		180,925
Finance Lease Obligations		5,666		1,645
Total Long-Term Debt		185,226		182,570
Other Liabilities:
Pneumoconiosis Benefits		6,508		6,028
Workers’ Compensation		3,811		3,611
Asset Retirement Obligations		11,030		10,801
Operating Lease Liability		9,102		11,507
Other		856		785
Total Other Liabilities		31,307		32,732
TOTAL LIABILITIES		282,936		284,233
Partners’ Capital:
Common Units (27,690,251 Units Outstanding at June 30, 2020; 27,632,824 Units Outstanding at December 31, 2019)		167,384		189,367
General Partner Interest		11,539		11,915
Accumulated Other Comprehensive Income		10,656		10,579
Total Partners’ Capital		189,579		211,861
TOTAL LIABILITIES AND PARTNERS’ CAPITAL	$	472,515	$	496,094

6The accompanying notes are an integral part of these consolidated financial statements.

~~CONSOL COAL RESOURCES LP~~ 6

~~CONSOLIDATED~~ Table ~~STATEMENT~~of ~~OF PARTNERS’ CAPITAL~~Contents

~~(Dollars~~CONSOL inCOAL ~~thousands)~~RESOURCES LP

	Limited Partners
	Common			Subordinated		General Partner			Accumulated Other Comprehensive Income		Total
Balance at December 31, 2019	$	189,367		$	—	$	11,915		$	10,579	$	211,861
(unaudited)
Net Income	161			—		3			—		164
Unitholder Distributions	(14,191		)	—		(243		)	—		(14,434		)
Unit-Based Compensation	159			—		—			—		159
Units Withheld for Taxes	(217		)	—		—			—		(217		)
Adoption of ASU 2016-013	(247		)	—		(4		)	—		(251		)
Actuarially Determined Long-Term Liability Adjustments	—			—		—			39		39
Balance at March 31, 2020	$	175,032		$	—	$	11,671		$	10,618	$	197,321

CONSOLIDATED STATEMENT OF PARTNERS’ CAPITAL

	Limited Partners
	Common			Subordinated			General Partner			Accumulated Other Comprehensive Income (Loss)			Total
Balance at December 31, 2018	$	212,122		$	(11,421	)	$	12,119		$	11,920		$	224,740
(unaudited)
Net Income	8,676			6,287			257			—			15,220
Unitholder Distributions	(8,211		)	(5,951		)	(243		)	—			(14,405		)
Unit-Based Compensation	397			—			—			—			397
Units Withheld for Taxes	(880		)	—			—			—			(880		)
Actuarially Determined Long-Term Liability Adjustments	—			—			—			(3		)	(3		)
Balance at March 31, 2019	$	212,104		$	(11,085	)	$	12,133		$	11,917		$	225,069

(Dollars in thousands)

The accompanying notes are an integral part of these consolidated financial statements.

	Limited Partners
	Common			Subordinated		General Partner			Accumulated Other Comprehensive Income		Total
Balance at December 31, 2019	$	189,367		$	—	$	11,915		$	10,579	$	211,861
(unaudited)
Net Income		161			—		3			—		164
Unitholder Distributions		(14,191	)		—		(243	)		—		(14,434	)
Unit-Based Compensation		159			—		—			—		159
Units Withheld for Taxes		(217	)		—		—			—		(217	)
Adoption of ASU 2016-013		(247	)		—		(4	)		—		(251	)
Actuarially Determined Long-Term Liability Adjustments		—			—		—			39		39
Balance at March 31, 2020	$	175,032		$	—	$	11,671		$	10,618	$	197,321
Net Loss		(7,722	)		—		(132	)		—		(7,854	)
Unit-Based Compensation		74			—		—			—		74
Actuarially Determined Long-Term Liability Adjustments		—			—		—			38		38
Balance at June 30, 2020	$	167,384		$	—	$	11,539		$	10,656	$	189,579

	Limited Partners
										Accumulated Other Comprehensive Income
	Common			Subordinated			General Partner			(Loss)			Total
Balance at December 31, 2018	$	212,122		$	(11,421	)	$	12,119		$	11,920		$	224,740
(unaudited)
Net Income		8,676			6,287			257			—			15,220
Unitholder Distributions		(8,211	)		(5,951	)		(243	)		—			(14,405	)
Unit-Based Compensation		397			—			—			—			397
Units Withheld for Taxes		(880	)		—			—			—			(880	)
Actuarially Determined Long-Term Liability Adjustments		—			—			—			(3	)		(3	)
Balance at March 31, 2019	$	212,104		$	(11,085	)	$	12,133		$	11,917		$	225,069
Net Income		8,201			5,944			242			—			14,387
Unitholder Distributions		(8,211	)		(5,950	)		(243	)		—			(14,404	)
Unit-Based Compensation		341			—			—			—			341
Actuarially Determined Long-Term Liability Adjustments		—			—			—			(3	)		(3	)
Balance at June 30, 2019	$	212,435		$	(11,091	)	$	12,132		$	11,914		$	225,390

~~CONSOL~~The ~~COAL~~accompanying ~~RESOURCES~~notes LPare an integral part of these consolidated financial statements.

~~CONSOLIDATED STATEMENTS OF CASH FLOWS~~ 7

~~(Dollars~~ Table inof ~~thousands)~~Contents

~~(unaudited)~~CONSOL COAL RESOURCES LP

	Three Months EndedMarch 31,
	2020			2019
Cash Flows from Operating Activities:
Net Income	$	164		$	15,220
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation, Depletion and Amortization	11,928			11,217
Gain on Sale of Assets	—			(5		)
Unit-Based Compensation	159			397
Changes in Operating Assets:
Trade and Other Receivables	3,721			(6,588		)
Inventories	(1,133		)	(1,579		)
Prepaid Expenses	1,375			476
Changes in Other Assets	15			718
Changes in Operating Liabilities:
Accounts Payable	(3,343		)	185
Accounts Payable—Related Party	2,860			2,171
Other Operating Liabilities	1,876			2,811
Changes in Other Liabilities	(845		)	195
Net Cash Provided by Operating Activities	16,777			25,218
Cash Flows from Investing Activities:
Capital Expenditures	(5,173		)	(8,093		)
Net Cash Used in Investing Activities	(5,173		)	(8,093		)
Cash Flows from Financing Activities:
Proceeds from Finance Lease Obligations	4,073			—
Payments on Finance Lease Obligations	(1,021		)	(938		)
Net Payments on Related Party Long-Term Notes	(325		)	(1,500		)
Payments for Unitholder Distributions	(14,434		)	(14,405		)
Units Withheld for Taxes	(217		)	(880		)
Net Cash Used in Financing Activities	(11,924		)	(17,723		)
Net Decrease in Cash	(320		)	(598		)
Cash at Beginning of Period	543			1,003
Cash at End of Period	$	223		$	405
Non-Cash Investing and Financing Activities:
Finance Lease	$	1,756		$	—
Longwall Shield Rebuild	$	2,282		$	—

CONSOLIDATED STATEMENTS OF CASH FLOWS

~~The~~(Dollars ~~accompanying~~in ~~notes are an integral part of these consolidated financial statements.~~thousands)

8(unaudited)

CONSOL COAL RESOURCES LP

	*Six Months Ended*
	*June 30,*
	*2020*			*2019*
Cash Flows from Operating Activities:
Net (Loss) Income	$	(7,690	)	$	29,607
Adjustments to Reconcile Net (Loss) Income to Net Cash Provided by Operating Activities:
Depreciation, Depletion and Amortization		23,448			22,553
Loss on Sale of Assets		—			5
Unit-Based Compensation		233			738
Changes in Operating Assets:
Trade and Other Receivables		11,952			(5,101	)
Inventories		(1,469	)		(527	)
Prepaid Expenses		2,985			(441	)
Changes in Other Assets		210			1,377
Changes in Operating Liabilities:
Accounts Payable		(8,879	)		(1,160	)
Accounts Payable—Related Party		3,312			(3,451	)
Other Operating Liabilities		(1,521	)		2,902
Changes in Other Liabilities		735			576
Net Cash Provided by Operating Activities		23,316			47,078
Cash Flows from Investing Activities:
Capital Expenditures		(9,239	)		(18,046	)
Proceeds from Sales of Assets		5			4
Net Cash Used in Investing Activities		(9,234	)		(18,042	)
Cash Flows from Financing Activities:
Proceeds from Finance Lease Obligations		4,073			—
Payments on Finance Lease Obligations		(2,580	)		(1,890	)
Net (Payments on) Proceeds From Related Party Long-Term Notes		(1,365	)		2,000
Payments for Unitholder Distributions		(14,434	)		(28,809	)
Units Withheld for Taxes		(217	)		(880	)
Net Cash Used in Financing Activities		(14,523	)		(29,579	)
Net Decrease in Cash		(441	)		(543	)
Cash at Beginning of Period		543			1,003
Cash at End of Period	$	102		$	460

Non-Cash Investing and Financing Activities:
Finance Lease	$	3,251		$	—
Longwall Shield Rebuild	$	2,788		$	—

~~NOTES~~The TOaccompanying ~~CONSOLIDATED~~notes ~~FINANCIAL~~are ~~STATEMENTS~~an ~~(Unaudited)~~integral part of these consolidated financial statements.

~~(Dollars in thousands, except per unit amounts)~~ 8

~~NOTE~~ Table ~~1—BASIS~~of ~~OF PRESENTATION:~~Contents

~~The~~CONSOL ~~accompanying~~COAL ~~unaudited~~RESOURCES Consolidated Financial Statements were prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. LP

~~For~~NOTES ~~the~~TO ~~three~~CONSOLIDATED ~~months~~FINANCIAL ~~ended~~STATEMENTS ~~March 31, 2020 and 2019, the unaudited Consolidated Financial Statements include the accounts of CONSOL Operating and CONSOL Thermal Holdings, wholly owned and controlled subsidiaries.~~ (Unaudited)

~~The~~(Dollars ~~Partnership is a master limited partnership formed on March 16, 2015 to manage and further develop all of our sponsor's active coal operations~~ in ~~Pennsylvania. As of March 31~~thousands, ~~2020,~~except ~~the~~per ~~Partnership's~~unit assets are comprised of a 25% undivided interest in, and operational control over, the Pennsylvania Mining Complex. The Partnership's common units trade on the New York Stock Exchange under the ticker symbol “CCR.”amounts)

~~Recent~~NOTE ~~Accounting~~1—BASIS ~~Pronouncements~~OF PRESENTATION:

InThe ~~March~~accompanying ~~2020,~~unaudited ~~the~~Consolidated Financial ~~Accounting~~Statements ~~Standards~~were ~~Board~~prepared ~~(“FASB”) issued Accounting Standards Update (“ASU”) 2020-04 Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments~~ in ~~this~~accordance ~~Update~~with ~~provide~~accounting ~~optional~~principles ~~guidance~~generally ~~for~~accepted ~~a limited period of time to ease the potential burden~~ in ~~accounting for (or recognizing~~ the ~~effects~~United ~~of)~~States ~~reference rate reform on financial reporting. The Update also provides optional expedients and exceptions for applying generally accepted accounting principles~~ (“U.S. GAAP”) tofor ~~contracts,~~interim ~~hedging~~financial ~~relationships, and other transactions affected by reference rate reform if certain criteria are met~~information. ~~The~~ ~~amendments~~Accordingly, inthey ~~this~~do ~~Update~~not ~~are~~include ~~effective for~~ all ~~entities as~~ of ~~March~~the ~~12,~~information ~~2020~~and ~~through~~footnotes ~~December~~required ~~31,~~by ~~2022~~U.S. AnGAAP ~~entity may elect to apply the amendments~~ for ~~contract~~complete modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements ~~are available to be issued~~. ~~Once~~In ~~elected~~the ~~for~~opinion aof ~~Topic or an Industry Subtopic~~management, ~~the amendments in this Update must be applied prospectively for~~ all ~~eligible~~adjustments ~~contract~~(consisting ~~modifications for that Topic or Industry Subtopic. Management has elected to apply this Update subsequent to March 12, 2020. Management is currently evaluating the impact~~ of ~~this~~normal ~~guidance,~~recurring ~~but~~adjustments) ~~does~~considered ~~not~~necessary ~~expect~~for ~~this~~a ~~update~~fair topresentation have abeen ~~material impact on the Partnership's financial statements~~included.

InFor ~~August 2018,~~ the ~~FASB~~three ~~issued~~and ~~ASU~~six ~~2018-15~~months -ended June ~~Intangibles~~30, -2020 ~~Goodwill~~ and ~~Other~~2019, ~~- Internal Use Software (Subtopic 350-40) to help entities evaluate~~ the ~~accounting~~unaudited ~~for~~Consolidated ~~fees~~Financial ~~paid~~Statements byinclude ~~a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when~~ the ~~arrangement~~accounts includes a software license. The amendments in Update 2018-15 align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements of ~~capitalizing~~CONSOL ~~implementation~~Operating ~~costs~~and ~~incurred~~CONSOL toThermal ~~develop or obtain internal-use software. These changes will be effective for fiscal years beginning after December 15~~Holdings, ~~2019,~~wholly ~~including~~owned ~~interim periods within those fiscal years. This guidance was adopted during the three months ended March 31, 2020~~ and ~~did~~controlled ~~not have a material impact on the Partnership's financial statements~~subsidiaries.

InThe ~~August~~Partnership ~~2018,~~is ~~the~~a ~~FASB~~master ~~issued~~limited ~~ASU~~partnership ~~2018-14~~formed -on March ~~Compensation~~16, -2015 ~~Retirement~~to ~~Benefits~~manage -and ~~Defined~~further ~~Benefit~~develop ~~Plans~~all -of ~~General~~our ~~(Subtopic~~sponsor's ~~715-20)~~active tocoal ~~improve~~operations ~~the effectiveness of disclosures~~ in ~~the~~Pennsylvania. ~~notes~~As ~~to the financial statements by facilitating clear communication~~ of ~~the information required by GAAP.~~ ~~The~~June ~~amendments~~30, ~~modify~~2020, the ~~disclosure~~Partnership's ~~requirements~~assets ~~for~~are ~~employers~~comprised ~~that~~of ~~sponsor~~a ~~defined~~25% ~~benefit~~undivided ~~pension~~interest orin, ~~other~~and ~~postretirement~~operational ~~plans. These~~control ~~changes will be effective for fiscal years ending after December 15~~over, ~~2020,~~the ~~including~~Pennsylvania ~~interim~~Mining ~~periods~~Complex. ~~within~~The ~~those~~Partnership's ~~fiscal~~common ~~years. Management~~units istrade ~~currently~~on ~~evaluating~~ the ~~impact~~New ~~this~~York ~~guidance~~Stock ~~may~~Exchange ~~have~~under on the ~~Partnership's~~ticker ~~financial~~symbol ~~statements~~“CCR.”

InRecent ~~August~~Accounting 2018, the FASB issued ASU 2018-13 - Fair Value Measurement (Topic 820) to improve the effectiveness of disclosures in the notes to the financial statements by facilitating clear communication of the information required by GAAP. The amendments modify the disclosure requirements on fair value measurements, including the consideration of costs and benefits. These changes will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. This guidance was adopted during the three months ended March 31, 2020 and did not have a material impact on the Partnership's financial statements.Pronouncements:

9In March 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2020-04 Reference Rate Reform (Topic 848) - Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The amendments in this Update provide optional guidance for a limited period of time to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The Update also provides optional expedients and exceptions for applying generally accepted accounting principles (“GAAP”) to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this Update are effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic, the amendments in this Update must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. Management has elected to apply this Update subsequent to March 12, 2020. Management does not expect this Update to have a material impact on the Partnership's financial statements.

~~NOTE~~In August ~~2—REVENUE:~~2018, the FASB issued ASU 2018-14 - Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20) to improve the effectiveness of disclosures in the notes to the financial statements by facilitating clear communication of the information required by GAAP. The amendments modify the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. These changes will be effective for fiscal years ending after December 15, 2020, including interim periods within those fiscal years. Management is currently evaluating the impact this guidance may have on the presentation of the Partnership's financial statements.

~~The following table disaggregates our revenue from contracts with customers for the three months ended March 31, 2020 and March 31, 2019:~~ 9

	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Coal Revenue	$	63,863	$	83,126
Freight Revenue	787		1,665
Total Revenue from Contracts with Customers	$	64,650	$	84,791

Table of Contents

~~Our~~NOTE revenue is generally recognized when title passes to the customer and the price is fixed and determinable. We have determined that each ton of coal represents a separate and distinct performance obligation. Our coal supply contracts and other sales and operating revenue contracts vary in length from short-term to long-term contracts and do not typically have significant financing components.2—REVENUE:

The ~~estimated~~following ~~transaction~~table ~~price~~disaggregates ~~from~~our ~~each~~revenue offrom ~~our~~ contracts iswith ~~based~~customers ~~on the total amount of consideration to which we expect to be entitled under the contract. Included in the transaction price~~ for ~~certain coal supply contracts is~~ the three ~~impact~~and ofsix ~~variable~~months ~~consideration,~~ended June ~~including quality price adjustments~~30, ~~handling~~2020 ~~services, per-ton price fluctuations based on certain coal sales price indices~~ and June ~~anticipated~~30, payments in lieu of shipments. The estimated transaction price for each contract is allocated to our performance obligations based on relative standalone selling prices determined at contract inception.2019:

Coal Revenue

	*Three Months Ended June 30,*				*Six Months Ended June 30,*
	*2020*		*2019*		*2020*		*2019*
Coal Revenue	$	25,507	$	87,655	$	89,370	$	170,781
Freight Revenue		771		964		1,558		2,629
Total Revenue from Contracts with Customers	$	26,278	$	88,619	$	90,928	$	173,410

~~Revenues~~Coal are generally recognized when title passes to the customers and the price is fixed and determinable. Generally, title passes when coal is loaded at the central preparation facility and, on occasion, at terminal locations or other customer destinations. Our coal contract revenue per ton is fixed and determinable and adjusted for nominal quality adjustments. Some coal contracts also contain positive electric power price-related adjustments, which represent market-driven price adjustments, wherein there is no additional value exchanged, in addition to a fixed base price per ton. The Partnership's coal contracts generally do not allow for retroactive adjustments to pricing after title to the coal has passed. Revenue

~~Some~~Coal ofrevenue ~~our~~is ~~contracts~~generally ~~span~~recognized ~~multiple~~when ~~years~~title passes to the customer and ~~have~~the ~~annual~~price ~~pricing~~is ~~modification~~fixed ~~provisions~~and determinable. Generally, ~~based~~title ~~upon~~passes when coal is loaded at the central preparation facility and, on occasion, at terminal locations or other customer destinations. Our coal contract revenue per ton is fixed and determinable and adjusted for nominal quality adjustments. Some coal contracts also contain positive electric power price-related adjustments, which represent market-driven orprice ~~inflationary~~ adjustments, ~~where~~wherein there is no additional value is exchanged., ~~Management~~in ~~believes~~addition ~~that~~to ~~the~~a ~~invoice~~fixed base price isper ~~the~~ton. ~~most~~The ~~appropriate~~Partnership's ~~rate~~coal atcontracts ~~which~~generally do not allow for retroactive adjustments to ~~recognize~~pricing after title to the coal has passed. Our coal supply contracts and other sales and operating revenue contracts vary in length from short-term to long-term contracts and do not typically have significant financing components.

~~While~~The weestimated ~~do,~~transaction price from ~~time~~each toof ~~time,~~our ~~experience~~contracts ~~costs~~is ofbased ~~obtaining~~on ~~coal~~the ~~customer~~total ~~contracts~~amount ~~with~~of ~~amortization~~consideration ~~periods~~to ~~greater~~which ~~than~~we ~~one~~expect ~~year,~~to ~~those~~be ~~costs~~entitled ~~are~~under ~~generally~~the ~~immaterial~~contract. toIncluded ~~our~~in ~~net~~the ~~income.~~transaction Asprice offor ~~and~~certain ~~for~~coal supply contracts is the ~~three~~impact ~~months~~of ~~ended~~variable ~~March 31~~consideration, ~~2020~~including ~~and~~quality ~~March 31~~price adjustments, ~~2019~~handling services, weper-ton doprice ~~not~~fluctuations ~~have~~based ~~any~~on ~~capitalized~~certain ~~costs~~coal sales price indices and anticipated payments in lieu of shipments. The estimated transaction price for each contract is allocated to ~~obtain~~our ~~customer~~performance ~~contracts~~obligations based on ~~our~~relative ~~balance~~standalone ~~sheet~~selling ~~nor~~prices determined at contract inception. We have wedetermined ~~recognized~~that ~~any~~each ~~amortization~~ton of ~~previously~~coal ~~existing~~represents ~~capitalized~~a ~~costs~~separate ofand ~~obtaining~~distinct ~~customer~~performance ~~contracts~~obligation. Some ~~Further~~of our contracts span multiple years and have annual pricing modification provisions, ~~the~~based ~~Partnership~~upon ~~has~~market-driven ~~not~~or ~~recognized~~inflationary ~~any~~adjustments, ~~revenue~~where inno additional value is exchanged. Management believes that the ~~current~~invoice ~~period~~price ~~from~~is ~~performance~~the ~~obligations~~most ~~satisfied~~appropriate ~~(or~~rate ~~partially~~at ~~satisfied)~~which into ~~previous~~recognize ~~periods~~revenue.

~~Freight~~While ~~Revenue~~we do, from time to time, experience costs of obtaining coal customer contracts with amortization periods greater than one year, those costs are generally immaterial to our net income. As of and for the three and six months ended June 30, 2020 and June 30, 2019, we do not have any capitalized costs to obtain customer contracts on our balance sheet nor have we recognized any amortization of previously existing capitalized costs of obtaining customer contracts. Further, the Partnership has not recognized any coal revenue in the current period from performance obligations satisfied (or partially satisfied) in previous periods.

~~Some~~Freight of our coal contracts require that we sell our coal at locations other than our central preparation plant. The cost to transport our coal to the ultimate sales point is passed through to our customers and we recognize the freight revenue equal to the transportation cost when title of the coal passes to the customer.Revenue

~~Contract~~Some ~~Balances~~of our coal contracts require that we sell our coal at locations other than our central preparation plant. The cost to transport our coal to the ultimate sales point is passed through to our customers and we recognize the freight revenue equal to the transportation cost when title of the coal passes to the customer.

Contract assets are recorded separately from trade receivables in the Partnership's unaudited Consolidated Balance Sheets and are reclassified to trade receivables as title passes to the customer and the Partnership's right to consideration becomes unconditional. Payments for coal shipments are typically due within two to four weeks of the invoice date. The Partnership typically does not have material contract assets that are stated separately from trade receivables as the Partnership's performance obligations are satisfied as control of the goods or services passes to the customer, thereby granting the Partnership an unconditional right to receive consideration. Contract liabilities relate to consideration received in advance of the satisfaction of the Partnership's performance obligations. Contract liabilities are recognized as revenue at the point in time when control of the good or service passes to the customer.Balances

10Contract assets are recorded separately from trade receivables in the Partnership's unaudited Consolidated Balance Sheets and are reclassified to trade receivables as title passes to the customer and the Partnership's right to consideration becomes unconditional. Payments for coal shipments are typically due within two to four weeks of the invoice date. The Partnership typically does not have material contract assets that are stated separately from trade receivables as the Partnership's performance obligations are satisfied as control of the goods or services passes to the customer, thereby granting the Partnership an unconditional right to receive consideration. Contract liabilities relate to consideration received in advance of the satisfaction of the Partnership's performance obligations. Contract liabilities are recognized as revenue at the point in time when control of the good or service passes to the customer.

~~NOTE 3—NET INCOME PER LIMITED PARTNER AND GENERAL PARTNER INTEREST:~~ 10

~~The~~ Table Partnership allocates net income among our general partner and limited partners using the two-class method in accordance with applicable authoritative accounting guidance. Under the two-class method, we allocate our net income to our limited partners and our general partner in accordance with the terms of our Partnership Agreement. We also allocate any earnings in excess of distributions to our limited partners and our general partner in accordance with the terms of our Partnership Agreement. We allocate any distributions in excess of earnings for the period to our general partner and our limited partners based on their respective proportionate ownership interests in us, after taking into account distributions to be paid with respect to the incentive distribution rights, as set forth in the Partnership Agreement. Contents

~~Diluted~~NOTE ~~net~~3—NET ~~income~~INCOME ~~per~~PER ~~limited~~LIMITED ~~partner~~PARTNER ~~unit~~AND ~~reflects~~GENERAL ~~the~~PARTNER potential dilution that could occur if securities or agreements to issue common units, such as awards under the long-term incentive plan, were exercised, settled or converted into common units. When it is determined that potential common units resulting from an award subject to performance or market conditions should be included in the diluted net income per limited partner unit calculation, the impact is reflected by applying the treasury stock method. INTEREST:

OnThe ~~August~~Partnership ~~16,~~allocates ~~2019,~~net ~~all~~income ~~11,611,067~~among ~~subordinated~~our ~~units~~general ~~were~~partner ~~converted~~and ~~into~~limited ~~common~~partners ~~units~~using onthe ~~a one~~two-~~for-one~~class ~~basis~~method in accordance with applicable authoritative accounting guidance. ~~For~~Under ~~purposes~~the oftwo-class ~~calculating~~method, we allocate our net income ~~per~~to ~~common~~our limited partners and ~~subordinated~~our ~~unit,~~general partner in accordance with the ~~conversion~~terms of ~~the~~our ~~subordinated~~Partnership ~~units~~Agreement. isWe ~~deemed~~also toallocate ~~have~~any ~~occurred~~earnings onin ~~July~~excess 1,of ~~2019.~~distributions ~~The~~to ~~conversion~~our ~~did~~limited ~~not~~partners ~~impact~~and our general partner in accordance with the ~~amount~~terms of ~~the~~our ~~cash~~Partnership ~~distribution~~Agreement. ~~paid~~We orallocate ~~the~~any ~~total~~distributions ~~number~~in excess of ~~the~~earnings ~~Partnership’s~~for ~~outstanding~~the ~~units~~period ~~representing~~to ~~limited~~our general partner ~~interests.~~and ~~Upon~~our ~~payment~~limited ofpartners ~~the~~based ~~cash~~on ~~distribution~~their ~~for~~respective ~~the~~proportionate ~~second~~ownership ~~quarter~~interests ofin ~~2019~~us, ~~the~~after ~~financial~~taking ~~requirements~~into ~~for~~account distributions to be paid with respect to the ~~conversion~~incentive ofdistribution ~~all~~rights, ~~subordinated~~as ~~units~~set ~~were~~forth ~~satisfied~~in the Partnership Agreement.

	Three Months Ended March 31,
	2020		2019
Net Income	$	164	$	15,220
Less: General Partner Interest in Net Income	3		257
Net Income Allocable to Limited Partner Units	$	161	$	14,963
Limited Partner Interest in Net Income - Common Units	$	161	$	8,676
Limited Partner Interest in Net Income - Subordinated Units	—		6,287
Limited Partner Interest in Net Income - Basic & Diluted	$	161	$	14,963
Weighted Average Limited Partner Units Outstanding - Basic	27,665,008		27,589,172
Weighted Average Limited Partner Units Outstanding - Diluted	27,685,284		27,645,697
Net Income Per Limited Partner Unit - Basic
Common Units	$	0.01	$	0.54
Subordinated Units	$	—	$	0.54
Net Income Per Limited Partner Unit - Basic	$	0.01	$	0.54
Net Income Per Limited Partner Unit - Diluted
Common Units	$	0.01	$	0.54
Subordinated Units	$	—	$	0.54
Net Income Per Limited Partner Unit - Diluted	$	0.01	$	0.54

Diluted net income per limited partner unit reflects the potential dilution that could occur if securities or agreements to issue common units, such as awards under the long-term incentive plan, were exercised, settled or converted into common units. When it is determined that potential common units resulting from an award subject to performance or market conditions should be included in the diluted net income per limited partner unit calculation, the impact is reflected by applying the treasury stock method.

~~There~~On August 16, 2019, all 11,611,067 subordinated units were noconverted ~~phantom~~into common units ~~excluded~~on ~~from~~a ~~the~~one-for-one ~~computation~~basis. For purposes of ~~the~~calculating ~~diluted~~net ~~earnings~~income per common and subordinated unit, ~~because~~the ~~their~~conversion ~~effect~~of ~~would~~the besubordinated ~~anti-dilutive~~units is deemed to have occurred on July 1, 2019. The conversion did not impact the amount of the cash distribution paid or the total number of the Partnership’s outstanding units representing limited partner interests. Upon payment of the cash distribution for the ~~three~~second ~~months~~quarter ~~ended~~of ~~March 31~~2019, ~~2020~~the ~~and~~financial ~~2019.~~requirements for the conversion of all subordinated units were satisfied.

11The following table illustrates the Partnership’s calculation of net (loss) income per unit for common and subordinated partner units:

NOTE 4—CREDIT LOSSES:

	*Three Months Ended June 30,*					*Six Months Ended June 30,*
	*2020*			*2019*		*2020*			*2019*
Net (Loss) Income	$	(7,854	)	$	14,387	$	(7,690	)	$	29,607
Less: General Partner Interest in Net (Loss) Income		(132	)		242		(129	)		499
Net (Loss) Income Allocable to Limited Partner Units	$	(7,722	)	$	14,145	$	(7,561	)	$	29,108

Limited Partner Interest in Net (Loss) Income - Common Units	$	(7,722	)	$	8,201	$	(7,561	)	$	16,877
Limited Partner Interest in Net Income - Subordinated Units		—			5,944		—			12,231
Limited Partner Interest in Net (Loss) Income - Basic & Diluted	$	(7,722	)	$	14,145	$	(7,561	)	$	29,108

Weighted Average Limited Partner Units Outstanding - Basic		27,690,251			27,632,766		27,677,630			27,611,089

Weighted Average Limited Partner Units Outstanding - Diluted		27,690,251			27,653,823		27,677,630			27,649,547

Net (Loss) Income Per Limited Partner Unit - Basic
Common Units	$	(0.28	)	$	0.51	$	(0.27	)	$	1.05
Subordinated Units	$	—		$	0.51	$	—		$	1.05
Net (Loss) Income Per Limited Partner Unit - Basic	$	(0.28	)	$	0.51	$	(0.27	)	$	1.05

Net (Loss) Income Per Limited Partner Unit - Diluted
Common Units	$	(0.28	)	$	0.51	$	(0.27	)	$	1.05
Subordinated Units	$	—		$	0.51	$	—		$	1.05
Net (Loss) Income Per Limited Partner Unit - Diluted	$	(0.28	)	$	0.51	$	(0.27	)	$	1.05

~~Effective~~There ~~January~~were 133,705 ~~2020,~~and ~~the Partnership adopted ASU 2016-013~~39,673 phantom ~~Financial~~units ~~Instruments~~excluded -from ~~Credit~~the ~~Losses~~computation ~~(Topic 326): Measurement~~ of ~~Credit~~the ~~Losses~~diluted onearnings ~~Financial~~per ~~Instruments~~unit, ~~using~~because atheir ~~modified~~effect ~~retrospective~~would ~~approach.~~be ~~This~~anti-dilutive ~~ASU~~for ~~replaces~~ the ~~incurred~~three ~~loss~~and ~~impairment~~six ~~model~~months ~~with~~ended June an30, ~~expected credit loss impairment model for financial instruments~~2020, ~~including trade and other receivables~~respectively. There ~~The~~were ~~amendment~~no phantom ~~requires~~units ~~entities~~excluded tofrom ~~consider~~the ~~forward-looking~~computation ~~information to estimate expected credit losses, resulting in earlier recognition~~ of ~~losses~~the ~~for~~diluted ~~receivables~~earnings ~~that~~per ~~are current or not yet due~~unit, ~~which~~because ~~were~~their ~~not~~effect ~~considered~~would ~~under~~be ~~previous accounting guidance. The Partnership recorded a cumulative~~anti-~~effect~~dilutive ~~adjustment~~for ~~to decrease retained earnings in~~ the three ~~amount~~and ofsix ~~$251~~months ~~for~~ended June ~~expected~~30, ~~credit losses on financial assets at the adoption date~~2019.

~~The following table illustrates the impact of ASC 326.~~ 11

	January 1, 2020
	As Reported Under ASC 326		Pre-ASC 326 Adoption		Impact of ASC 326 Adoption
Trade Receivables	$	763	$	525	$	238
Other Receivables	32		19		13
Allowance for Credit Losses on Receivables	$	795	$	544	$	251

Table of Contents

~~The~~NOTE ~~Partnership~~4—CREDIT is exposed to credit losses primarily through sales of products and services. The Partnership's expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade and other accounts receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Partnership's monitoring activities include timely account reconciliations, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions.LOSSES:

~~Balances~~Effective January ~~are~~1, ~~written~~2020, ~~off~~the ~~when~~Partnership ~~determined~~adopted toASU be2016-013, ~~uncollectible~~Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments using a modified retrospective approach. ~~The~~This ~~Partnership~~ASU ~~considered~~replaces the ~~current~~incurred ~~and~~loss impairment model with an expected ~~future~~credit ~~economic~~loss impairment model for financial instruments, including trade and ~~market~~other ~~conditions~~receivables. ~~surrounding~~The ~~the~~amendment ~~novel~~requires ~~coronavirus~~entities ~~(“COVID~~to consider forward-~~19”)~~looking ~~pandemic~~information ~~and~~to ~~determined~~estimate expected credit losses, resulting in earlier recognition of losses for receivables that are current or not yet due, which were not considered under previous accounting guidance. The Partnership recorded a cumulative-effect adjustment to decrease retained earnings in the ~~estimate~~amount of $251 for expected credit losses ~~was~~on ~~not~~financial ~~significantly~~assets ~~impacted~~at the adoption date.

~~Management~~The ~~estimates~~following ~~the~~table ~~allowance~~illustrates balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the ~~basis~~impact ~~for the estimation~~ of ~~expected~~ASC ~~credit losses~~326. Adjustments to historical loss information are made for changes to the assessment of anticipated payment, changes in economic conditions, current industry trends in the markets the Partnership serves, and changes in the financial health of the Partnership's counterparties.

The following table provides a roll-forward of the allowance for credit losses by portfolio segment that is deducted from the amortized cost basis of accounts receivable to present the net amount expected to be collected.

	January 1, 2020
	As Reported Under ASC 326		Pre-ASC 326 Adoption		Impact of ASC 326 Adoption

Trade Receivables	$	763	$	525	$	238
Other Receivables		32		19		13
Allowance for Credit Losses on Receivables	$	795	$	544	$	251

	Trade Receivables			Other Receivables
Beginning Balance, January 1, 2020	$	525		$	19
Adoption of ASU 2016-13, cumulative-effect adjustment to retained earnings	238			13
Provision for expected credit losses	(161		)	2
Ending Balance, March 31, 2020	$	602		$	34

The Partnership is exposed to credit losses primarily through sales of products and services. The Partnership's expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions and a review of the current status of customers' trade and other accounts receivables. Due to the short-term nature of such receivables, the estimate of the amount of accounts receivable that may not be collected is based on an aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Partnership's monitoring activities include timely account reconciliations, dispute resolution, payment confirmation, consideration of customers' financial condition and macroeconomic conditions.

12Balances are written off when determined to be uncollectible. The Partnership considered the current and expected future economic and market conditions surrounding the novel coronavirus (“COVID-19”) pandemic and determined that the estimate of credit losses was not significantly impacted.

~~NOTE~~Management ~~5—INVENTORIES:~~estimates the allowance balance using relevant available information, from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. Adjustments to historical loss information are made for changes to the assessment of anticipated payment, changes in economic conditions, current industry trends in the markets the Partnership serves, and changes in the financial health of the Partnership's counterparties.

	March 31, 2020		December 31, 2019
Coal	$	1,155	$	621
Supplies	12,631		12,032
Total Inventories	$	13,786	$	12,653

Inventories are stated at the lower of cost or net realizable value. The cost of coal inventories is determined by the first-in, first-out (FIFO) method. Coal inventory costs include labor, supplies, equipment costs, operating overhead, depreciation, depletion and amortization, and other related costs. The cost of supplies inventory is determined by the average cost method and includes operating and maintenance supplies to be used in our coal operations.

	*Trade Receivables*		*Other Receivables*

Beginning Balance, January 1, 2020	$	525	$	19
Adoption of ASU 2016-13, cumulative-effect adjustment to retained earnings		238		13
Provision for expected credit losses		232		(24	)
Ending Balance, June 30, 2020	$	995	$	8

~~NOTE 6—PROPERTY, PLANT AND EQUIPMENT:~~ 12

	March 31, 2020		December 31, 2019
Coal and Other Plant and Equipment	$	673,652	$	666,560
Coal Properties and Surface Lands	126,465		126,294
Airshafts	108,399		106,750
Mine Development	81,538		81,538
Advance Mining Royalties	3,766		3,756
Total Property, Plant and Equipment	993,820		984,898
Less: Accumulated Depreciation, Depletion and Amortization	582,942		571,238
Total Property, Plant and Equipment, Net	$	410,878	$	413,660

Table of Contents

~~Coal~~NOTE reserves are controlled either through fee ownership or by lease. The duration of the leases varies; however, the lease terms generally are extended automatically to the exhaustion of economically recoverable coal reserves, as long as active mining continues. Coal interests held by lease provide the same rights as fee ownership for mineral extraction and are legally considered real property interests. 5—INVENTORIES:

As of March 31, 2020 and December 31, 2019, property, plant and equipment includes gross assets under finance lease of $18,272 and $12,596, respectively. Accumulated amortization for finance leases was $8,968 and $7,351 at March 31, 2020 and December 31, 2019, respectively. Amortization expense for assets under finance leases approximated $1,230 and $967 for the three months ended March 31, 2020 and March 31, 2019, respectively, and is included in Depreciation, Depletion and Amortization in the accompanying unaudited Consolidated Statements of Operations.

	*June 30,*		*December 31,*
	*2020*		*2019*
Coal	$	1,689	$	621
Supplies		12,433		12,032
Total Inventories	$	14,122	$	12,653

13Inventories are stated at the lower of cost or net realizable value. The cost of coal inventories is determined by the first-in, first-out (FIFO) method. Coal inventory costs include labor, supplies, equipment costs, operating overhead, depreciation, depletion and amortization, and other related costs. The cost of supplies inventory is determined by the average cost method and includes operating and maintenance supplies to be used in our coal operations.

NOTE 76—~~OTHER~~PROPERTY, ~~ACCRUED~~PLANT ~~LIABILITIES~~AND EQUIPMENT:

	March 31, 2020			December 31, 2019
		June 30,			December 31,
Subsidence Liability	$	24,006		$	22,661
		2020			2019
Accrued Payroll and Benefits	3,242			4,460
Coal and Other Plant and Equipment		$	679,864		$	666,560
Accrued Interest (Related Party)	2,674			2,541
Coal Properties and Surface Lands			126,511			126,294
Accrued Other Taxes	1,137			921
Airshafts			109,354			106,750
Other	1,337			1,383
Mine Development			81,538			81,538
Current Portion of Long-Term Liabilities:
Advance Mining Royalties			3,777			3,756
Operating Lease Liability	4,442			4,753
Total Property, Plant and Equipment			1,001,044			984,898
Workers’ Compensation	1,430			1,423
Less: Accumulated Depreciation, Depletion and Amortization			594,233			571,238
Asset Retirement Obligations	954			954
Total Property, Plant and Equipment, Net		$	406,811		$	413,660
Pneumoconiosis Benefits	207			201
Long-Term Disability	155			158
Total Other Accrued Liabilities	$	39,584		$	39,455

~~NOTE~~Coal ~~8—LONG-TERM~~reserves ~~DEBT:~~are controlled either through fee ownership or by lease. The duration of the leases varies; however, the lease terms generally are extended automatically to the exhaustion of economically recoverable coal reserves, as long as active mining continues. Coal interests held by lease provide the same rights as fee ownership for mineral extraction and are legally considered real property interests.

	March 31, 2020		December 31, 2019
Affiliated Company Credit Agreement (4.00% interest rate at March 31, 2020 and December 31, 2019)	$	180,600	$	180,925
Other Asset-Backed Financing Maturing in December 2020, 5.83% and 5.96% Weighted Average Interest Rate at March 31, 2020 and December 31, 2019, respectively	3,725		1,443
	184,325		182,368
Less: Amounts Due in One Year*	3,725		1,443
Long-Term Debt	$	180,600	$	180,925

As of June 30, 2020 and December 31, 2019, property, plant and equipment includes gross assets under finance lease of $19,794 and $12,596, respectively. Accumulated amortization for finance leases was $10,350 and $7,351 at June 30, 2020 and December 31, 2019, respectively. Amortization expense for assets under finance leases approximated $1,376 and $966 for the three months ended and $2,606 and $1,933 for the six months ended June 30, 2020 and June 30, 2019, respectively, and is included in Depreciation, Depletion and Amortization in the accompanying unaudited Consolidated Statements of Operations.

* Excludes current portion of Finance Lease Obligations of $5,187 and at $3,809 at March 31, 2020 and December 31, 2019, respectively. 13

~~Affiliated~~ Table ~~Company~~of ~~Credit Agreement~~Contents

OnNOTE ~~November~~7—OTHER ~~28,~~ACCRUED 2017, the Partnership and the other Credit Parties entered into the Affiliated Company Credit Agreement by and among the Credit Parties, CONSOL Energy, as lender and administrative agent, and PNC. On March 28, 2019, the Affiliated Company Credit Agreement was amended to extend the maturity date from February 27, 2023 to December 28, 2024. The Affiliated Company Credit Agreement provides for a revolving credit facility in an aggregate principal amount of up to $275,000 to be provided by CONSOL Energy, as lender. In connection with the Partnership’s entry into the Affiliated Company Credit Agreement, the Partnership made an initial draw of $200,583, the net proceeds of which were used to repay the amounts outstanding under the Partnership's prior credit facility. Additional drawings under the Affiliated Company Credit Agreement are available for general partnership purposes. The obligations under the Affiliated Company Credit Agreement are guaranteed by the Partnership’s subsidiaries and secured by substantially all of the assets of the Partnership and its subsidiaries pursuant to the security agreement and various mortgages.LIABILITIES:

Interest on outstanding obligations under our Affiliated Company Credit Agreement accrues at a fixed rate ranging from 3.75% to 4.75%, depending on the total net leverage ratio. The unused portion of our Affiliated Company Credit Agreement is subject to a commitment fee of 0.50% per annum. The Partnership had available capacity under the Affiliated Company Credit Agreement of $94,400 and $94,075 as of March 31, 2020 and December 31, 2019, respectively.

	*June 30,*		*December 31,*
	*2020*		*2019*
Subsidence Liability	$	22,712	$	22,661
Accrued Payroll and Benefits		3,735		4,460
Accrued Interest (Related Party)		2,840		2,541
Other		2,868		2,304
Current Portion of Long-Term Liabilities:
Operating Lease Liability		4,823		4,753
Workers’ Compensation		1,445		1,423
Asset Retirement Obligations		830		954
Pneumoconiosis Benefits		213		201
Long-Term Disability		151		158
Total Other Accrued Liabilities	$	39,617	$	39,455

~~The~~NOTE ~~Affiliated~~8—LONG-TERM ~~Company Credit Agreement contains certain covenants and conditions that, among other things, limit the Partnership’s ability to~~DEBT: ~~(i) incur or guarantee additional debt; (ii) make cash distributions (subject to certain limited~~

	*June 30,*		*December 31,*
	*2020*		*2019*
Affiliated Company Credit Agreement (4.75% interest rate at June 30, 2020 and 4.00% interest rate at December 31, 2019)	$	179,560	$	180,925
Other Asset-Backed Financing Maturing in December 2020, 4.42% and 5.96% Weighted Average Interest Rate at June 30, 2020 and December 31, 2019, respectively		4,231		1,443
		183,791		182,368
Less: Amounts Due in One Year*		4,231		1,443
Long-Term Debt	$	179,560	$	180,925

~~exceptions);~~* ~~provided~~Excludes ~~that~~current weportion ~~will be able to make cash distributions~~ of ~~available~~Finance ~~cash~~Lease toObligations ~~partners so long as no event~~ of ~~default~~$4,532 ~~is continuing or would result therefrom; (iii) incur certain liens or permit them to exist; (iv) make particular investments~~ and ~~loans;~~at ~~provided~~$3,809 ~~that~~at June we30, ~~will~~2020 ~~be able to increase our ownership percentage of our undivided interest in the Pennsylvania Mining Complex~~ and December ~~make~~31, investments in the Pennsylvania Mining Complex in accordance with our ratable ownership; (v) enter into certain types of transactions with affiliates; (vi) merge or consolidate with another company; and (vii) transfer2019, ~~sell or otherwise dispose of assets~~respectively. ~~The Partnership is also subject to covenants that require the Partnership to maintain certain financial ratios.~~

~~For~~Affiliated ~~example,~~Company ~~the~~Credit Partnership is obligated to maintain at the end of each fiscal quarter (a) maximum first lien gross leverage ratio of 2.75 to 1.00 and (b) a maximum total net leverage ratio of 3.25 to 1.00, each of which will be calculated on a consolidated basis for the Partnership and its restricted subsidiaries at the end of each fiscal quarter. At March 31, 2020, the Partnership was in compliance with its financial covenants with a first lien gross leverage ratio of 2.21 to 1.00 and a total net leverage ratio of 2.21 to 1.00.Agreement

~~Other~~On November ~~Asset-Backed~~28, ~~Financing~~2017, the Partnership and the other Credit Parties entered into the Affiliated Company Credit Agreement by and among the Credit Parties, CONSOL Energy, as lender and administrative agent, and PNC. On June 5, 2020, the Partnership amended the Affiliated Company Credit Agreement to provide eight quarters of financial covenant relaxation, effected a 50 basis points increase in the rate at which borrowings under the Affiliated Company Credit Agreement bear interest, and added additional conditions to be met for the covenants relating to general investments, investments in unrestricted subsidiaries, and distributions to equity holders of the Partnership. The Affiliated Company Credit Agreement has a maturity date of December 28, 2024. The Affiliated Company Credit Agreement provides for a revolving credit facility in an aggregate principal amount of up to $275,000 to be provided by CONSOL Energy, as lender. In connection with the Partnership’s entry into the Affiliated Company Credit Agreement, the Partnership made an initial draw of $200,583, the net proceeds of which were used to repay the amounts outstanding under the Partnership's prior credit facility. Additional drawings under the Affiliated Company Credit Agreement are available for general partnership purposes. The obligations under the Affiliated Company Credit Agreement are guaranteed by the Partnership’s subsidiaries and secured by substantially all of the assets of the Partnership and its subsidiaries pursuant to the security agreement and various mortgages.

AsInterest ofon ~~March 31,~~outstanding ~~2020~~obligations ~~and~~under ~~December~~our Affiliated Company Credit Agreement ~~31,~~accrues ~~2019~~at a fixed rate ranging from 4.25% to 5.25%, depending on the ~~Partnership~~total ~~was~~net aleverage ~~borrower~~ratio. ~~under~~The anunused ~~asset-backed~~portion ~~financing~~of ~~arrangement~~our ~~related~~Affiliated Company Credit Agreement is subject to ~~certain~~a ~~equipment~~commitment fee of 0.50% ~~The~~per ~~equipment,~~annum. ~~which~~The Partnership had anavailable ~~approximate~~capacity ~~value~~under the Affiliated Company Credit Agreement of $395,~~725~~440 and $194,~~443,~~075 ~~respectively~~as of June 30, ~~fully~~2020 ~~collateralizes~~and December ~~the~~31, ~~loan~~2019, respectively.

~~NOTE~~ The ~~9—COMPONENTS~~Affiliated OFCompany ~~COAL~~Credit ~~WORKERS~~Agreement contains certain covenants and conditions that, among other things, limit the Partnership’s ~~PNEUMOCONIOSIS~~ability to: (~~CWP~~i) ~~AND~~incur ~~WORKERS’~~or ~~COMPENSATION~~guarantee ~~NET~~additional ~~PERIODIC~~debt; ~~BENEFIT~~(ii) ~~COSTS:~~make cash distributions; provided that we will be able to make cash distributions of available cash to partners so long as the Partnership's first lien gross leverage ratio shall not be greater than 2.00 to 1.00, the fixed charge coverage ratio shall be not less than 1.00 to 1.00, and no event of default is continuing or would result therefrom; (iii) incur certain liens or permit them to exist; (iv) make particular investments and loans; provided that we will be able to increase our ownership percentage of our undivided interest in the Pennsylvania Mining Complex and make investments in the Pennsylvania Mining Complex in accordance with our ratable ownership; (v) enter into certain types of transactions with affiliates; (vi) merge or consolidate with another company; and (vii) transfer, sell or otherwise dispose of assets. The Partnership is also subject to covenants that require the Partnership to maintain certain financial ratios, each of which will be calculated on a consolidated basis for the Partnership and its restricted subsidiaries at the end of each fiscal quarter. The amendment revised the financial covenants in the Affiliated Company Credit Agreement, so that for the fiscal quarters ending June 30, 2020 through March 31, 2021, the maximum first lien gross leverage ratio shall be 3.75 to 1.00 and the maximum total net leverage ratio shall be 4.00 to 1.00; for the fiscal quarters ending June 30, 2021 through September 30, 2021, the maximum first lien gross leverage ratio shall be 3.50 to 1.00 and the maximum total net leverage ratio shall be 3.75 to 1.00; for the fiscal quarters ending December 31, 2021 through March 31, 2022, the maximum first lien gross leverage ratio shall be 3.00 to 1.00 and the maximum total net leverage ratio shall be 3.50 to 1.00; and for the fiscal quarters ending on or after June 30, 2022, the maximum first lien gross leverage ratio shall be 2.75 to 1.00 and the maximum total net leverage ratio shall be 3.25 to 1.00. At June 30, 2020, the Partnership was in compliance with its financial covenants with a first lien gross leverage ratio of 2.93 to 1.00 and a total net leverage ratio of 2.93 to 1.00. The Partnership is continuing to actively monitor the effects of the ongoing COVID-19 pandemic on its liquidity and capital resources. We took several steps in the first half of 2020 to reinforce our liquidity. From a coal shipment perspective, we seemed to have hit the bottom in May 2020. However, if the demand for our coal continues to decrease, this could adversely affect our liquidity in future quarters and, as a result, our ability to comply with these covenants over the next twelve months.

The Partnership is obligated to CONSOL Energy for medical and disability benefits to certain CPCC employees and their dependents resulting from occurrences of coal workers’ pneumoconiosis disease and is also obligated to CONSOL Energy to compensate certain individuals who are entitled benefits under workers’ compensation laws. 14

	CWP				Workers’ Compensation
	Three Months EndedMarch 31,				Three Months EndedMarch 31,
	2020		2019		2020			2019
Service Cost	$	254	$	200	$	386		$	349
Interest Cost	45		49		32			41
Amortization of Actuarial Loss (Gain)	41		6		(9		)	(12		)
State Administrative Fees and Insurance Bond Premiums	—		—		48			51
Net Periodic Benefit Cost	$	340	$	255	$	457		$	429

Table of Contents

~~NOTE~~Other ~~10—FAIR~~Asset-Backed ~~VALUE OF FINANCIAL INSTRUMENTS:~~Financing

~~The~~As ~~Partnership determines the fair value~~ of June ~~assets~~30, 2020 and December ~~liabilities~~31, ~~based~~2019, on the ~~exchange~~Partnership ~~price~~was ~~that~~a ~~would~~borrower beunder ~~received for~~ an asset-backed orfinancing ~~paid~~arrangement related to ~~transfer~~certain ~~a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants~~equipment. The ~~fair~~equipment, ~~values~~which ~~are~~had ~~based on assumptions that market participants would use when pricing~~ an ~~asset~~approximate orvalue ~~liability~~of $4,231 ~~including assumptions about risk~~ and ~~the~~$1,443, risks inherent in valuation techniques and the inputs to valuations. The fair value hierarchy is based on whether the inputs to valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources (including LIBOR-based discount rates)respectively, ~~while~~fully ~~unobservable~~collateralizes ~~inputs reflect~~ the ~~Partnership’s own assumptions of what market participants would use~~loan.

~~The~~NOTE ~~fair~~9—COMPONENTS ~~value~~OF ~~hierarchy~~COAL ~~includes~~WORKERS’ ~~three~~PNEUMOCONIOSIS ~~levels~~(CWP) ofAND ~~inputs~~WORKERS’ ~~that~~COMPENSATION ~~may~~NET bePERIODIC ~~used~~BENEFIT ~~to measure fair value as described below.~~COSTS:

~~Level~~The ~~One~~Partnership -is ~~Quoted~~obligated ~~prices~~to CONSOL Energy for ~~identical~~medical ~~instruments~~and indisability ~~active~~benefits ~~markets~~to certain CPCC employees and their dependents resulting from occurrences of coal workers’ pneumoconiosis disease and is also obligated to CONSOL Energy to compensate certain individuals who are entitled benefits under workers’ compensation laws.

Level Two - The fair value of the assets and liabilities included in Level 2 are based on standard industry income approach models that use significant observable inputs, including LIBOR-based discount rates.

	*CWP*								*Workers’ Compensation*
	*Three Months Ended*				*Six Months Ended*				*Three Months Ended*						*Six Months Ended*
	*June 30,*				*June 30,*				*June 30,*						*June 30,*
	*2020*		*2019*		*2020*		*2019*		*2020*			*2019*			*2020*			*2019*
Service Cost	$	254	$	200	$	508	$	400	$	385		$	349		$	771		$	698
Interest Cost		45		48		90		97		32			41			64			82
Amortization of Actuarial Loss (Gain)		40		7		81		13		(8	)		(12	)		(17	)		(24	)
State Administrative Fees and Insurance Bond Premiums		—		—		—		—		44			45			92			96
Net Periodic Benefit Cost	$	339	$	255	$	679	$	510	$	453		$	423		$	910		$	852

15NOTE 10—FAIR VALUE OF FINANCIAL INSTRUMENTS:

~~Level~~The ~~Three~~Partnership -determines ~~Unobservable~~the ~~inputs~~fair ~~significant~~value of assets and liabilities based on the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the ~~fair~~principal ~~value~~or ~~measurement~~most ~~supported~~advantageous bymarket ~~little~~for the asset or noliability in an orderly transaction between market ~~activity~~participants. The ~~significant~~fair ~~unobservable~~values ~~inputs~~are ~~used~~based on assumptions that market participants would use when pricing an asset or liability, including assumptions about risk and the risks inherent in valuation techniques and the inputs to valuations. The fair value ~~measurement~~hierarchy ofis based on whether the ~~Partnership’s~~inputs ~~third~~to ~~party~~valuation ~~guarantees~~techniques are ~~the~~observable ~~credit~~or ~~risk~~unobservable. ofObservable ~~the~~inputs ~~third~~reflect ~~party~~market ~~and~~data obtained from independent sources (including LIBOR-based discount rates), while unobservable inputs reflect the ~~third~~Partnership’s ~~party~~own ~~surety~~assumptions ~~bond~~of ~~markets~~what market participants would use.

InThe ~~those cases when the inputs used to measure~~ fair value ~~meet~~hierarchy ~~the~~includes ~~definition~~three oflevels ~~more than one level~~ of ~~the~~inputs ~~fair value hierarchy, the lowest level input~~ that may isbe ~~significant~~used to ~~the~~measure fair value ~~measurement~~as indescribed ~~its totality determines the applicable level in the fair value hierarchy~~below.

~~The~~Level ~~following~~One ~~methods~~- ~~and~~Quoted ~~assumptions~~prices ~~were used to estimate the fair value~~ for ~~which~~identical ~~the~~instruments ~~fair~~in ~~value~~active ~~option was not elected:~~markets.

~~Long-term~~Level ~~debt:~~Two - The fair value of ~~long-term~~the ~~debt~~assets isand ~~measured~~liabilities ~~using~~included ~~unadjusted~~in ~~quoted~~Level ~~market~~2 ~~prices~~are orbased ~~estimated~~on ~~using~~standard ~~discounted~~industry ~~cash~~income ~~flow~~approach ~~analyses. The~~models ~~discounted~~that ~~cash~~use ~~flow~~significant ~~analyses~~observable ~~are~~inputs, including LIBOR-based ondiscount ~~current market~~ rates ~~for instruments with similar cash flows~~.

~~The carrying amounts and fair values of financial instruments for which the fair value option was not elected are as follows:~~ 15

	March 31, 2020				December 31, 2019
	CarryingAmount		FairValue		CarryingAmount		FairValue
Affiliated Company Credit Agreement—Related Party	$	180,600	$	180,600	$	180,925	$	180,925

Table of Contents

~~The~~Level ~~Partnership’s~~Three ~~debt~~- ~~obligations~~Unobservable ~~are~~inputs ~~valued~~significant ~~through reference~~ to the ~~applicable~~fair ~~underlying~~value ~~benchmark~~measurement ~~rate~~supported ~~and,~~by aslittle aor ~~result,~~no ~~constitute~~market ~~Level~~activity. 2The significant unobservable inputs used in the fair value ~~measurements~~measurement of the Partnership’s third party guarantees are the credit risk of the third party and the third party surety bond markets.

~~NOTE~~In ~~11—COMMITMENTS~~those ~~AND~~cases ~~CONTINGENT~~when ~~LIABILITIES:~~the inputs used to measure fair value meet the definition of more than one level of the fair value hierarchy, the lowest level input that is significant to the fair value measurement in its totality determines the applicable level in the fair value hierarchy.

The ~~Partnership~~following ismethods ~~subject to various lawsuits~~ and ~~claims~~assumptions ~~with~~were ~~respect~~used to ~~such~~estimate matters as personal injury, wrongful death, damage to property, exposure to hazardous substances, governmental regulations (including environmental remediation), employment and contract disputes and other claims and actions arising out of the ~~normal~~fair ~~course~~value ~~of its business. We accrue the estimated loss~~ for ~~these~~which ~~lawsuits and claims when~~ the ~~loss~~fair isvalue ~~probable~~option ~~and~~was ~~can~~not be estimated. Our current estimated accruals related to these pending claims, individually and in the aggregate, are immaterial to the financial position, results of operations or cash flows of the Partnership. It is possible that the aggregate loss in the future with respect to these lawsuits and claims could ultimately be material to the financial position, results of operations or cash flows of the Partnership; however, such amounts cannot be reasonably estimated.elected:

AtLong-term ~~March 31,~~debt: 2020, the Partnership was contractually obligated to CONSOL Energy for financial guarantees and letters of credit to certain third parties which were issued by CONSOL Energy on behalf of the Partnership. The ~~maximum~~fair ~~potential~~value ~~total~~ of ~~future~~long-term ~~payments~~debt ~~that we could be required to make under these instruments~~ is ~~$99,660. The~~measured ~~instruments~~using ~~are~~unadjusted ~~comprised~~quoted ofmarket ~~$1,951~~prices of letters of credit expiring within the next three years, $89,037 of environmental surety bonds expiring within the next three years, and $8,672 of employee-related and other surety bonds expiring within the next three years. Employee-related financial guarantees have primarily been provided to support various state workers’ compensation and federal black lung self-insurance programs. Environmental financial guarantees have primarily been provided to support various performance bonds related to reclamation and other environmental issues. Other guarantees have been extended to support insurance policies, legal matters, full and timely payments of mining equipment leases, and various other items necessary in the normal course of business. These amounts have not been reduced for potential recoveries under recourse or ~~collateralization~~estimated ~~provisions.~~using ~~Generally,~~discounted ~~recoveries~~cash ~~under~~flow ~~reclamation bonds would be limited to the extent of the work performed at the time of the default~~analyses. NoThe ~~amounts~~discounted ~~related~~cash toflow ~~these~~analyses ~~financial guarantees and letters of credit~~ are ~~recorded~~based ~~as liabilities~~ on ~~the~~current ~~financial~~market ~~statements.~~rates ~~The~~for ~~Partnership’s~~instruments ~~management~~with ~~believes~~similar ~~that~~cash ~~these guarantees will expire without being funded, and therefore the commitments will not have a material adverse effect on the financial condition of the Partnership~~flows.

~~NOTE~~The ~~12—RECEIVABLES~~carrying ~~FINANCING~~amounts ~~AGREEMENT~~and fair values of financial instruments for which the fair value option was not elected are as follows:

On November 30, 2017, (i) CONSOL Marine Terminals LLC, as an originator of receivables, (ii) CPCC, as an originator of receivables and as initial servicer of the receivables for itself and the other originators (collectively, the “Originators”), each a wholly owned subsidiary of CONSOL Energy, and (iii) CONSOL Funding LLC (the “SPV”), as buyer, entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”). Concurrently, (i) CONSOL Thermal Holdings, as sub-originator, and (ii) CPCC, as buyer and as initial servicer of the receivables for itself and CONSOL Thermal

	*June 30, 2020*				*December 31, 2019*
	*Carrying*		*Fair*		*Carrying*		*Fair*
	*Amount*		*Value*		*Amount*		*Value*
Affiliated Company Credit Agreement—Related Party	$	179,560	$	172,378	$	180,925	$	180,925

16The Partnership’s debt obligations are valued through reference to the applicable underlying benchmark rate and, as a result, constitute Level 2 fair value measurements.

~~Holdings,~~NOTE ~~entered~~11—COMMITMENTS ~~into~~AND aCONTINGENT Sub-Originator Agreement (the “Sub-Originator PSA”). In addition, on that date, the SPV entered into a Receivables Financing Agreement (the “Receivables Financing Agreement”) by and among (i) the SPV, as borrower, (ii) CPCC, as initial servicer, (iii) PNC, as administrative agent, LC Bank and lender, and (iv) the additional persons from time to time party thereto as lenders. Together, the Purchase and Sale Agreement, the Sub-Originator PSA and the Receivables Financing Agreement establish the primary terms and conditions of an accounts receivable securitization program (the “Securitization”). In March 2020, the Securitization was amended, among other things, to extend the scheduled termination date to March 27, 2023.LIABILITIES:

~~Pursuant~~The toPartnership ~~the~~is ~~Securitization,~~subject ~~(i)~~to ~~CONSOL~~various ~~Thermal~~lawsuits ~~Holdings will sell current~~ and ~~future~~claims ~~trade~~with ~~receivables~~respect to ~~CPCC~~such ~~and~~matters ~~(ii)~~as ~~the~~personal ~~Originators~~injury, ~~will~~wrongful ~~sell~~death, ~~and/or~~damage ~~contribute current and future trade receivables (including receivables sold~~ to ~~CPCC~~property, byexposure ~~CONSOL Thermal Holdings)~~ to ~~the~~hazardous ~~SPV and the SPV will~~substances, ingovernmental ~~turn,~~regulations ~~pledge~~(including ~~its~~environmental ~~interests in the receivables to PNC~~remediation), ~~which~~employment ~~will~~and ~~either~~contract ~~make~~disputes ~~loans~~and orother ~~issue~~claims ~~letters~~and ofactions ~~credit~~arising onout ~~behalf~~ of the ~~SPV.~~normal ~~The~~course ~~maximum amount~~ of ~~advances~~its ~~and letters of credit outstanding under the Securitization may not exceed $100,000~~business. ~~Loans~~We ~~under the Securitization will~~ accrue ~~interest at a reserve-adjusted LIBOR market index rate equal to~~ the ~~one-month~~estimated ~~Eurodollar~~loss ~~rate.~~for ~~Loans~~these lawsuits and ~~letters~~claims ofwhen ~~credit under~~ the ~~Securitization~~loss ~~also~~is ~~will~~probable ~~accrue a program fee~~ and ~~participation~~can ~~fee,~~be ~~respectively, ranging from 2~~estimated.~~00%~~ toOur ~~2.50%~~current ~~per~~estimated ~~annum,~~accruals ~~depending~~related onto ~~the~~these ~~total~~pending ~~net leverage ratio of CONSOL Energy. In addition~~claims, ~~the~~individually ~~SPV paid certain structuring fees to PNC Capital Markets LLC~~ and ~~will~~in ~~pay other customary fees to~~ the ~~lenders~~aggregate, ~~including a fee on unused commitments. The SPV’s assets and credit~~ are ~~not~~immaterial ~~available~~ to ~~satisfy~~ the ~~debts~~financial ~~and~~position, ~~obligations~~results ~~owed to the creditors~~ of ~~CONSOL~~operations ~~Energy, CONSOL Thermal Holdings~~ or ~~any~~cash flows of the ~~Originators~~Partnership. ~~CONSOL~~It ~~Thermal~~is ~~Holdings,~~possible that the ~~Originators~~aggregate ~~and~~loss ~~CPCC~~in asthe ~~servicer~~future ~~are~~with ~~independently~~respect ~~liable~~to ~~for~~these ~~their~~lawsuits ~~own customary representations, warranties, covenants~~ and ~~indemnities.~~claims Incould ~~addition,~~ultimately ~~CONSOL~~be ~~Energy~~material ~~has~~to ~~guaranteed~~ the ~~performance~~financial ~~of the obligations of CONSOL Thermal Holdings~~position, ~~the~~results ~~Originators and CPCC as servicer, and will guarantee the obligations~~ of ~~any~~operations ~~additional originators~~ or ~~successor~~cash ~~servicer~~flows ~~that~~of ~~may become party to~~ the ~~Securitization.~~Partnership; ~~However~~however, ~~neither~~such ~~CONSOL~~amounts ~~Energy~~cannot ~~nor~~be ~~its~~reasonably ~~affiliates will guarantee collectability of receivables or the creditworthiness of obligors thereunder~~estimated.

~~The~~At June ~~Securitization~~30, ~~contains~~2020, ~~various~~the ~~customary~~Partnership ~~representations~~was ~~and~~contractually ~~warranties,~~obligated ~~covenants~~to CONSOL Energy for financial guarantees and ~~default~~letters ~~provisions~~of credit to certain third parties which ~~provide~~were ~~for~~issued ~~the~~by ~~termination~~CONSOL ~~and~~Energy ~~acceleration~~on behalf of the ~~commitments~~Partnership. ~~and~~The ~~loans~~maximum potential total of future payments that we could be required to make under these instruments is $99,594. The instruments are comprised of $676 of letters of credit expiring within the ~~Securitization~~next inthree ~~circumstances~~years, ~~including~~$90,220 ~~but~~of ~~not~~environmental ~~limited~~surety tobonds expiring within the next three years, ~~failure~~and $8,698 of employee-related and other surety bonds expiring within the next three years. Employee-related financial guarantees have primarily been provided to ~~make~~support ~~payments~~various ~~when~~state ~~due~~workers’ compensation and federal black lung self-insurance programs. Environmental financial guarantees have primarily been provided to support various performance bonds related to reclamation and other environmental issues. Other guarantees have been extended to support insurance policies, ~~breach~~legal matters, full and timely payments of ~~representation~~mining equipment leases, ~~warranty~~and various other items necessary in the normal course of business. These amounts have not been reduced for potential recoveries under recourse or ~~covenant~~collateralization provisions. Generally, ~~certain~~recoveries ~~insolvency~~under ~~events~~reclamation orbonds ~~failure~~would be limited to ~~maintain~~the extent of the ~~security~~work ~~interest~~performed inat the ~~trade~~time ~~receivables~~of the default. No amounts related to these financial guarantees and letters of credit are recorded as liabilities on the financial statements. The Partnership’s management believes that these guarantees will expire without being funded, and ~~defaults~~therefore ~~under~~the ~~other~~commitments will not have a material ~~indebtedness~~adverse effect on the financial condition of the Partnership.

AsNOTE of12—RECEIVABLES ~~March 31,~~FINANCING 2020 and December 31, 2019, respectively, the Partnership, through CONSOL Thermal Holdings, had sold $28,747 and $33,294 of trade receivables to CPCC. The Partnership has not derecognized the receivables due to its continued involvement in the collections efforts.AGREEMENT

~~NOTE~~On November ~~13—RELATED~~30, ~~PARTY:~~2017, (i) CONSOL Marine Terminals LLC, as an originator of receivables, (ii) CPCC, as an originator of receivables and as initial servicer of the receivables for itself and the other originators (collectively, the “Originators”), each a wholly owned subsidiary of CONSOL Energy, and (iii) CONSOL Funding LLC (the “SPV”), as buyer, entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”). Concurrently, (i) CONSOL Thermal Holdings, as sub-originator, and (ii) CPCC, as buyer and as initial servicer of the receivables for itself and CONSOL Thermal Holdings, entered into a Sub-Originator Agreement (the “Sub-Originator PSA”). In addition, on that date, the SPV entered into a Receivables Financing Agreement (the “Receivables Financing Agreement”) by and among (i) the SPV, as borrower, (ii) CPCC, as initial servicer, (iii) PNC, as administrative agent, LC Bank and lender, and (iv) the additional persons from time to time party thereto as lenders. Together, the Purchase and Sale Agreement, the Sub-Originator PSA and the Receivables Financing Agreement establish the primary terms and conditions of an accounts receivable securitization program (the “Securitization”). In March 2020, the Securitization was amended, among other things, to extend the scheduled termination date to March 27, 2023.

~~Omnibus Agreement~~ 16

~~The~~ Table ~~Partnership is a party to the Omnibus Agreement, dated September 30, 2016, as amended on November 28, 2017, with our sponsor and certain~~ of ~~its subsidiaries. Under the Omnibus Agreement, we are obligated to make certain payments to, and reimburse, CONSOL Energy for the provision of certain services in connection with our operations.~~ Contents

	Three Months EndedMarch 31,
	2020		2019
Operating and Other Costs	$	853	$	763
Selling, General and Administrative Expenses	2,793		3,056
Total Services from CONSOL Energy	$	3,646	$	3,819

Pursuant to the Securitization, (i) CONSOL Thermal Holdings will sell current and future trade receivables to CPCC and (ii) the Originators will sell and/or contribute current and future trade receivables (including receivables sold to CPCC by CONSOL Thermal Holdings) to the SPV and the SPV will, in turn, pledge its interests in the receivables to PNC, which will either make loans or issue letters of credit on behalf of the SPV. The maximum amount of advances and letters of credit outstanding under the Securitization may not exceed $100,000. Loans under the Securitization will accrue interest at a reserve-adjusted LIBOR market index rate equal to the one-month Eurodollar rate. Loans and letters of credit under the Securitization also will accrue a program fee and participation fee, respectively, ranging from 2.00% to 2.50% per annum, depending on the total net leverage ratio of CONSOL Energy. In addition, the SPV paid certain structuring fees to PNC Capital Markets LLC and will pay other customary fees to the lenders, including a fee on unused commitments. The SPV’s assets and credit are not available to satisfy the debts and obligations owed to the creditors of CONSOL Energy, CONSOL Thermal Holdings or any of the Originators. CONSOL Thermal Holdings, the Originators and CPCC as servicer are independently liable for their own customary representations, warranties, covenants and indemnities. In addition, CONSOL Energy has guaranteed the performance of the obligations of CONSOL Thermal Holdings, the Originators and CPCC as servicer, and will guarantee the obligations of any additional originators or successor servicer that may become party to the Securitization. However, neither CONSOL Energy nor its affiliates will guarantee collectability of receivables or the creditworthiness of obligors thereunder.

AtThe ~~March 31,~~Securitization ~~2020~~contains various customary representations and ~~December 31~~warranties, ~~2019,~~covenants and default provisions which provide for the ~~Partnership~~termination ~~had~~and aacceleration ~~net~~of ~~payable~~the tocommitments ~~CONSOL~~and ~~Energy~~loans inunder the ~~amount~~Securitization ofin $4circumstances including,~~279~~ ~~and~~but $1not limited to,~~419,~~ ~~respectively. This~~failure ~~payable~~to ~~includes~~make ~~reimbursements~~payments ~~for~~when ~~business~~due, ~~expenses~~breach of representation, ~~executive~~warranty ~~fees~~or covenant, ~~stock-based~~certain ~~compensation~~insolvency ~~and~~events ~~other~~or ~~items~~failure ~~under~~to maintain the ~~Omnibus~~security ~~Agreement~~interest in the trade receivables, and defaults under other material indebtedness.

~~Affiliated~~As ~~Company~~of June ~~Credit~~30, ~~Agreement~~2020 and December 31, 2019, respectively, the Partnership, through CONSOL Thermal Holdings, had sold $22,386 and $33,294 of trade receivables to CPCC. The Partnership has not derecognized the receivables due to its continued involvement in the collections efforts.

AsNOTE ~~described~~13—RELATED ~~in Note 8, the Partnership is also a party to the Affiliated Company Credit Agreement with CONSOL Energy.~~PARTY:

17Omnibus Agreement

~~For~~The ~~the~~Partnership ~~three~~is ~~months~~a ~~ended~~party ~~March 31,~~to ~~2020~~the ~~and~~Omnibus ~~2019~~Agreement, $2dated September 30,~~114~~ ~~and $1~~2016,~~796~~ ofas ~~interest~~amended ~~was~~on November ~~incurred under the Affiliated Company Credit Agreement~~28, ~~respectively~~2017, ofwith ~~which~~our ~~$118~~sponsor and ~~$445~~certain ~~was~~of ~~capitalized~~its ~~and~~subsidiaries. ~~included~~Under ~~in Property, Plant and Equipment in~~ the ~~unaudited~~Omnibus ~~Consolidated Balance Sheets~~Agreement, ~~respectively.~~we ~~Interest~~are isobligated ~~calculated~~to ~~based~~make ~~upon~~certain apayments ~~fixed rate~~to, ~~determined~~and ~~quarterly~~reimburse, ~~depending~~CONSOL onEnergy ~~the~~for ~~total net leverage ratio. For~~ the ~~three~~provision ~~months~~of ~~ended~~certain ~~March 31,~~services ~~2020~~in ~~and~~connection ~~2019,~~with ~~the~~our ~~average interest rate was 4~~operations.~~00% and 3.75%, respectively. See Note 8 - Long-Term Debt for more information.~~

~~Repurchase~~Charges ~~Program~~for services from CONSOL Energy under the Omnibus Agreement include the following:

In May 2019, CONSOL Energy's Board of Directors approved an expansion of the stock, unit and debt repurchase program. The program previously allowed CONSOL Energy to use up to $25 million of the program to purchase the Partnership's outstanding common units in the open market. CONSOL Energy's Board of Directors approved changing the termination date of the program from June 30, 2019 to June 30, 2020. Also, in accordance with CONSOL Energy’s credit facility covenants, the total amount that can be used for repurchases of the Partnership's outstanding common units was raised to $50 million. No common units were purchased during the three months ended March 31, 2020 and 2019.

	*Three Months Ended*				*Six Months Ended*
	*June 30,*				*June 30,*
	*2020*		*2019*		*2020*		*2019*
Operating and Other Costs	$	856	$	767	$	1,709	$	1,530
Selling, General and Administrative Expenses		1,864		1,974		4,657		5,030
Total Services from CONSOL Energy	$	2,720	$	2,741	$	6,366	$	6,560

~~Conversion~~At June 30, 2020 and December 31, 2019, the Partnership had a net payable to CONSOL Energy in the amount of ~~Subordinated~~$4,731 ~~Units~~and $1,419, respectively. This payable includes reimbursements for business expenses, executive fees, stock-based compensation and other items under the Omnibus Agreement.

InAffiliated ~~August~~Company ~~2019,~~Credit upon payment of the cash distribution with respect to the quarter ended June 30, 2019, the financial requirements for the conversion of all the Partnership's subordinated units were satisfied. As a result, all 11,611,067 subordinated units, owned entirely by CONSOL Energy Inc., were converted into common units on a one-for-one basis. The conversion did not impact the amount of the cash distribution paid or the total number of the Partnership’s outstanding units representing limited partner interests.Agreement

~~NOTE~~As ~~14—LONG-TERM~~described ~~INCENTIVE~~in ~~PLAN:~~Note 8, the Partnership is also a party to the Affiliated Company Credit Agreement with CONSOL Energy.

Under the CONSOL Coal Resources LP 2015 Long-Term Incentive Plan (the “LTIP”), our general partner may issue long-term equity-based awards to directors, officers and employees of our general partner or its affiliates, or to any consultants, affiliates of our general partner or other individuals who perform services for us. These awards are intended to compensate the recipients thereof based on the performance of our common units and their continued service during the vesting period, as well as to align their long-term interests with those of our unitholders. We are responsible for the cost of awards granted under the LTIP and all determinations with respect to awards to be made under the LTIP will be made by the board of directors of our general partner or any committee thereof that may be established for such purpose or by any delegate of the board of directors or such committee, subject to applicable law, which we refer to as the plan administrator. 17

~~The~~ Table ~~LTIP limits the number~~ of units that may be delivered pursuant to vested awards to 2,300,000 common units, subject to proportionate adjustment in the event of unit splits and similar events. Common units subject to awards that are canceled, forfeited, withheld to satisfy exercise prices or tax withholding obligations or otherwise terminated without delivery of the common units will be available for delivery pursuant to other awards. The Partnership recognizes forfeitures as they occur.Contents

~~The~~For ~~general~~the ~~partner~~three ~~has~~and ~~granted~~six ~~equity-based~~months ~~phantom~~ended June ~~units~~30, ~~that~~2020, ~~vest~~$2,163 ~~over~~and $4,277 ~~a period~~ of ainterest ~~recipient’s~~was ~~continued~~incurred ~~service~~under ~~with~~ the ~~Partnership.~~Affiliated ~~The~~Company ~~phantom~~Credit ~~units~~Agreement, ~~will~~respectively, ~~be paid in common units or an amount~~ of ~~cash~~which ~~equal~~$98 toand $216 ~~the~~was ~~fair~~capitalized ~~market~~and ~~value~~included ofin aProperty, ~~unit~~Plant ~~based~~and onEquipment ~~the vesting date. The awards may accelerate upon a change~~ in ~~control of~~ the ~~Partnership.~~unaudited ~~Compensation~~Consolidated ~~expense~~Balance isSheets, ~~recognized~~respectively. For ~~on a straight-line basis over~~ the ~~requisite~~three ~~service~~and ~~period,~~six ~~which~~months ~~is generally the vesting term.~~ended ~~The~~June ~~Partnership~~30, ~~recognized~~2019, ~~compensation expense of~~ $~~159~~1,971 and $~~397~~3,766 ~~for~~of ~~the~~interest ~~three~~was ~~months~~incurred ~~ended~~under ~~March 31,~~the ~~2020~~Affiliated ~~and~~Company ~~March 31,~~Credit ~~2019~~Agreement, respectively, of which is$414 and $858 was capitalized and included in ~~Selling~~Property, ~~General~~Plant and ~~Administrative~~Equipment ~~Expense~~ in the unaudited Consolidated ~~Statements~~Balance ofSheets, ~~Operations~~respectively. ~~As of March~~ ~~31,~~Interest ~~2020, there~~ is ~~$259~~calculated ofbased ~~unearned~~upon ~~compensation~~a ~~that~~fixed ~~will~~rate, ~~vest~~determined ~~over~~quarterly, adepending ~~weighted~~on ~~average~~the ~~period~~total ofnet ~~0.87~~leverage ~~years~~ratio. ~~The~~For ~~total~~the ~~fair~~three ~~value~~and ofsix ~~phantom~~months ~~units~~ended June ~~vested~~30, ~~during~~2020, the ~~three~~average ~~months~~interest ~~ended~~rate ~~March 31,~~was ~~2020~~4.27% and ~~March 31~~4.14%, ~~2019~~respectively, ~~was~~and ~~$820~~for the three and ~~$2,905,~~six ~~respectively.~~months ~~The~~ended June ~~following~~30, ~~represents~~2019 the ~~nonvested~~average ~~phantom~~interest ~~units~~rate ~~and~~was 3.75%. ~~their~~See ~~corresponding~~Note ~~weighted~~8 ~~average~~- ~~grant~~Long-Term ~~date~~Debt ~~fair~~for ~~value:~~more information.

18Repurchase Program

	Number of Units		Weighted Average Grant Date Fair Value per Unit
Nonvested at December 31, 2019	78,345		$	18.62
Granted	33,705		$	8.90
Vested	(78,173	)	$	18.62
Forfeited	(172	)	$	18.95
Nonvested at March 31, 2020	33,705		$	8.90

In May 2019, CONSOL Energy's Board of Directors approved an expansion of the stock, unit and debt repurchase program. The program previously allowed CONSOL Energy to use up to $25 million of the program to purchase the Partnership's outstanding common units in the open market. CONSOL Energy's Board of Directors approved changing the termination date of the program from June 30, 2019 to June 30, 2020. Also, in accordance with CONSOL Energy’s credit facility covenants, the total amount that can be used for repurchases of the Partnership's outstanding common units was raised to $50 million. No common units were repurchased during the three and six months ended June 30, 2020. During the three and six months ended June 30, 2019, 6,884 common units were repurchased at an average price of $17.35 per unit.

~~NOTE~~Conversion ~~15—SUBSEQUENT~~of ~~EVENTS:~~Subordinated Units

OnIn August ~~April 23~~2019, ~~2020,~~upon ~~the~~payment ~~Board~~ of ~~Directors~~the ofcash ~~our~~distribution ~~general~~with ~~partner~~respect ~~made~~to the ~~decision~~quarter toended June ~~temporarily~~30, ~~suspend~~2019, the ~~quarterly~~financial ~~distribution~~requirements tofor ~~all~~the conversion of all the Partnership's ~~unitholders~~subordinated ~~due~~units towere ~~the~~satisfied. ~~ongoing~~As ~~uncertainty~~a inresult, ~~the~~all ~~commodity~~11,611,067 ~~markets~~subordinated ~~driven~~units, owned entirely by ~~the~~CONSOL ~~COVID-19~~Energy ~~pandemic~~Inc., were converted into common units on a one-~~related~~for-one ~~demand~~basis. ~~decline~~The conversion did not impact the amount of the cash distribution paid or the total number of the Partnership’s outstanding units representing limited partner interests.

~~ITEM~~NOTE ~~2. MANAGEMENT’S~~14—LONG-TERM ~~DISCUSSION~~INCENTIVE ~~AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS~~PLAN:

~~Unless~~Under ~~otherwise~~the ~~indicated,~~CONSOL ~~the~~Coal ~~following~~Resources ~~discussion~~LP ~~and~~2015 ~~analysis~~Long-Term ofIncentive Plan (the ~~financial~~“LTIP”), ~~condition~~our ~~and~~general ~~results~~partner may ofissue ~~operations~~long-term equity-based awards to directors, officers and employees of our ~~Partnership~~general ~~reflect~~partner aor ~~25%~~its ~~undivided~~affiliates, ~~interest~~or into ~~the~~any ~~assets~~consultants, ~~liabilities~~affiliates ~~and~~of ~~results~~our ofgeneral ~~operations~~partner ofor ~~the~~other ~~Pennsylvania~~individuals ~~Mining~~who ~~Complex. As~~perform ~~used~~services infor ~~the~~us. ~~following~~These ~~discussion~~awards ~~and~~are ~~analysis~~intended ofto compensate the ~~financial~~recipients ~~condition~~thereof ~~and~~based ~~results~~on ofthe ~~operations~~performance of our ~~Partnership,~~common units and their continued service during the ~~terms~~vesting ~~“we~~period,” “as well as to align their long-term interests with those of our,” ~~“us,”~~unitholders. orWe ~~like~~are ~~terms~~responsible ~~refer~~for tothe cost of awards granted under the ~~Partnership~~LTIP and all determinations with respect to ~~its~~awards ~~25%~~to ~~undivided~~be ~~interest~~made inunder the ~~Pennsylvania~~LTIP ~~Mining~~will ~~Complex’s~~be ~~combined~~made ~~assets,~~by ~~liabilities,~~the ~~revenues~~board ~~and~~of ~~costs.~~directors ~~All~~of ~~amounts~~our ~~discussed~~general inpartner ~~this~~or ~~section~~any ~~are~~committee inthereof ~~thousands,~~that may ~~except~~be established for ~~per~~such ~~unit~~purpose or ~~per~~by ~~ton~~any ~~amounts~~delegate of the board of directors or such committee, ~~unless~~subject ~~otherwise~~to ~~indicated~~applicable law, which we refer to as the plan administrator.

~~COVID-19~~The ~~Update~~LTIP limits the number of units that may be delivered pursuant to vested awards to 2,300,000 common units, subject to proportionate adjustment in the event of unit splits and similar events. Common units subject to awards that are canceled, forfeited, withheld to satisfy exercise prices or tax withholding obligations or otherwise terminated without delivery of the common units will be available for delivery pursuant to other awards. The Partnership recognizes forfeitures as they occur.

The Partnership is monitoring the impact of the COVID-19 pandemic and has taken and will continue to take steps to mitigate the potential risks and impact on the Partnership. The health and safety of our sponsor's employees is paramount. In response to two of our sponsor's employees testing positive for COVID-19, our sponsor temporarily curtailed production at the Bailey Mine for two weeks at the end of March. Our sponsor continues to monitor the health and safety of its employees closely in order to limit potential risks to its employees, contractors, family members, and the community. 18

We Table ~~are considered a critical infrastructure company by the U.S. Department~~ of Homeland Security. As a result, we are exempt from Pennsylvania Governor Tom Wolf's executive order closing all businesses that are not life sustaining. The coal demand decline that began in the first quarter is continuing into the second quarter of 2020, driven by the widespread lockdowns caused by COVID-19. In response to the decline in demand for our coal, our sponsor announced on April 14, 2020 that it temporarily idled production at the Enlow Fork mine. This decline in coal demand has negatively impacted our operational, sales, and financial performance year-to-date, and we expect that this negative impact will continue as the pandemic continues.Contents

ItThe isgeneral ~~not~~partner ~~clear~~has ~~how~~granted ~~long the government~~equity-~~imposed~~based ~~shutdowns~~phantom ofunits ~~nonessential~~that ~~business~~vest inover ~~the~~a ~~United~~period ~~States~~of ~~and~~a ~~abroad~~recipient’s ~~will~~continued ~~last,~~service ~~and~~with ~~there~~the isPartnership. aThe ~~possibility~~phantom ~~that~~units ~~such~~will ~~shutdowns may~~ be ~~reimposed~~paid ~~after~~in ~~being~~common ~~lifted~~units ifor ~~COVID-19~~an ~~experiences~~amount aof ~~resurgence.~~cash Weequal ~~expect~~to ~~that~~the ~~depressed~~fair ~~domestic~~market ~~and~~value ~~international~~of ~~demand~~a ~~for~~unit ~~our~~based ~~coal~~on ~~will~~the ~~continue~~vesting ~~for~~date. soThe ~~long~~awards may asaccelerate ~~there~~upon ~~are~~a ~~widespread,~~change ~~government-imposed~~in ~~shutdowns~~control of ~~business~~the ~~activity~~Partnership. ~~Additionally,~~Compensation ~~some~~expense ofis ~~our~~recognized ~~customers~~on ~~have~~a ~~already~~straight-line ~~attempted,~~basis ~~and~~over ~~may in~~ the ~~future~~requisite ~~attempt~~service period, towhich ~~invoke~~is ~~force~~generally ~~majeure~~the orvesting ~~similar~~term. ~~provisions~~The inPartnership ~~the~~recognized ~~contracts~~compensation ~~they~~expense ~~have~~of in$74 ~~place~~and $341 ~~with~~for usthe inthree ~~order~~months toended ~~avoid~~and $233 ~~taking possession of,~~ and ~~paying~~$738 us for, ~~our~~the ~~coal~~six ~~that~~months ~~they~~ended June ~~are~~30, ~~contractually~~2020 ~~obligated~~and June to30, ~~purchase.~~2019, ~~Sustained~~respectively, ~~decrease~~which inis ~~demand~~included ~~for~~in ~~our~~Selling, ~~coal~~General and ~~the~~Administrative ~~failure~~Expense ofin ~~our~~the ~~customers~~unaudited toConsolidated ~~purchase~~Statements ~~coal~~of ~~from~~Operations. usAs ~~that~~of June ~~they~~30, ~~are~~2020, ~~obligated~~there tois ~~purchase~~$185 ~~pursuant~~of tounearned ~~existing~~compensation ~~contracts~~that ~~would~~will ~~have~~vest over a ~~material~~weighted ~~adverse~~average ~~effect~~period ~~on our results~~ of ~~operations~~0.62 ~~and financial condition~~years. ~~The~~There ~~extent~~were tono ~~which~~phantom ~~COVID-19~~units ~~may~~that ~~adversely~~vested ~~impact~~during ~~our~~the ~~business~~three ~~depends~~months onended June ~~future developments~~30, ~~which~~2020 ~~are highly uncertain~~ and June ~~unpredictable~~30, ~~including~~2019. ~~new~~The ~~information~~total ~~concerning~~fair ~~the~~value ~~severity~~ of ~~the~~phantom ~~outbreak~~units ~~and~~vested during the six ~~effectiveness~~months ofended June ~~actions~~30, ~~globally~~2020 toand June ~~contain~~30, or2019 ~~mitigate~~was ~~its~~$820 ~~effects.~~and ~~While we expect this matter to negatively impact our results of operations~~$2,905, ~~cash~~respectively. ~~flows~~The ~~and~~following ~~financial~~represents ~~condition,~~ the ~~current~~nonvested ~~level~~phantom ofunits ~~uncertainty over the economic~~ and ~~operational~~their ~~impacts~~corresponding ofweighted ~~COVID-19~~average ~~means~~grant ~~the~~date ~~related~~fair ~~financial~~ value:

	*Number of Units*			*Weighted Average Grant Date Fair Value per Unit*
Nonvested at December 31, 2019		78,345		$	18.62
Granted		33,705		$	8.90
Vested		(78,173	)	$	18.62
Forfeited		(172	)	$	18.95
Nonvested at June 30, 2020		33,705		$	8.90

~~impact~~ITEM ~~cannot be reasonably estimated at this time~~2. ~~The~~MANAGEMENT’S ~~Partnership~~DISCUSSION ~~will~~AND ~~continue~~ANALYSIS toOF ~~take~~FINANCIAL ~~the~~CONDITION ~~appropriate~~AND ~~steps~~RESULTS toOF ~~mitigate the impacts of COVID-19 on the Partnership's operations, liquidity and financial condition.~~OPERATIONS

~~Overview~~Unless otherwise indicated, the following discussion and analysis of the financial condition and results of operations of our Partnership reflect a 25% undivided interest in the assets, liabilities and results of operations of the Pennsylvania Mining Complex. As used in the following discussion and analysis of the financial condition and results of operations of our Partnership, the terms “we,” “our,” “us,” or like terms refer to the Partnership with respect to its 25% undivided interest in the Pennsylvania Mining Complex’s combined assets, liabilities, revenues and costs. All amounts discussed in this section are in thousands, except for per unit or per ton amounts, unless otherwise indicated.

We are a master limited partnership formed in 2015 to manage and further develop all of our sponsor's active coal operations in Pennsylvania. Our primary strategy for growing our business is to increase operating efficiencies to maximize realizations and make acquisitions that increase our distributable cash flow. At March 31, 2020, the Partnership’s assets include a 25% undivided interest in, and operational control over, CONSOL Energy’s Pennsylvania Mining Complex, which consists of three underground mines and related infrastructure that produce highCOVID-~~Btu~~19 coal that is sold primarily to electric utilities in the eastern United States. We believe that our ability to efficiently produce and deliver large volumes of high-quality coal at competitive prices, the strategic location of our mines, and the industry experience of our management team position us as a leading producer of high-Btu thermal coal in the Northern Appalachian Basin and the eastern United States.Update

~~How~~The WePartnership ~~Evaluate~~is monitoring the impact of the COVID-19 pandemic and has taken, and will continue to take, steps to mitigate the potential risks and impact on the Partnership. The health and safety of our sponsor's employees is paramount. In response to two of our sponsor's employees testing positive for COVID-19, our sponsor temporarily curtailed production at the Bailey Mine for two weeks at the end of March. Second quarter production at the Bailey Mine began on April 13th. Our ~~Operations~~sponsor continues to monitor the health and safety of its employees closely in order to limit potential risks to its employees, contractors, family members, and the community.

~~Our~~We ~~management~~are ~~team~~considered ~~uses~~ a ~~variety~~critical ofinfrastructure ~~financial~~company ~~and~~by ~~operating~~the ~~metrics~~U.S. toDepartment ~~analyze~~of ~~our~~Homeland ~~performance~~Security. ~~These~~As ~~metrics~~a result, we were exempt from Pennsylvania Governor Tom Wolf's executive order, issued in March 2020, closing all businesses that are ~~significant~~not ~~factors~~life sustaining. The coal demand decline that began in ~~assessing~~the ~~our~~first ~~operating~~quarter continued ~~results~~through the second quarter and ~~profitability~~into the third quarter of 2020, driven by the widespread lockdowns caused by COVID-19. ~~The~~In ~~metrics~~response ~~include:~~to ~~(i)~~the ~~coal~~decline ~~production~~in demand for our coal, ~~sales~~our ~~volumes~~sponsor ~~and~~announced ~~average~~on ~~revenue~~April ~~per~~14, ~~ton;~~2020 ~~(ii)~~that ~~cost~~it oftemporarily ~~coal~~idled ~~sold~~production at the Enlow Fork mine, aand ~~non-GAAP~~temporarily ~~financial~~idled ~~measure;~~production ~~(iii)~~at ~~cash~~the ~~cost~~Bailey ofmine ~~coal~~on ~~sold~~May 2, a2020. Limited ~~non-GAAP~~production ~~financial~~began ~~measure;~~again ~~(iv)~~at ~~average~~the ~~cash~~Bailey ~~margin~~Mine ~~per~~on ~~ton~~June 8, an2020. ~~operating~~This ~~ratio~~decline ~~derived~~in ~~from~~coal ~~non-GAAP~~demand ~~financial~~has ~~measures;~~negatively ~~(v)~~impacted ~~adjusted~~our ~~EBITDA~~operational, asales, ~~non-GAAP~~and financial ~~measure;~~performance year-to-date, and ~~(vi)~~we ~~distributable~~expect ~~cash~~that ~~flow,~~this anegative ~~non-GAAP~~impact ~~financial~~will ~~measure~~continue as the pandemic continues.

~~Cost~~While some of the government-imposed shutdowns of nonessential business in the United States and abroad have been phased out, there is a possibility that such shutdowns may be reimposed if COVID-19 experiences a resurgence. We expect that depressed domestic and international demand for our coal ~~sold~~will continue for so long as there are widespread, ~~cash~~government-imposed ~~cost~~shutdowns of business activity. Depressed demand for our coal ~~sold,~~may ~~average~~also ~~cash~~result ~~margin~~from ~~per~~a ~~ton~~general recession or reduction in overall business activity caused by COVID-19. Additionally, ~~adjusted~~some ~~EBITDA~~of our customers have already attempted, and ~~distributable~~may ~~cash~~in ~~flow~~the ~~normalize~~future attempt, to invoke force majeure or similar provisions in the ~~volatility~~contracts ~~contained~~they ~~within~~have ~~comparable~~in ~~GAAP~~place ~~measures~~with byus ~~adjusting~~in ~~certain~~order ~~non-operating~~to oravoid ~~non-cash~~taking ~~transactions~~possession of, and paying us for, our coal that they are contractually obligated to purchase. ~~Each~~Sustained decrease in demand for our coal and the failure of ~~these~~our ~~non-GAAP~~customers ~~metrics~~to purchase coal from us that they are ~~used~~obligated asto ~~supplemental~~purchase ~~financial~~pursuant ~~measures~~to byexisting ~~management~~contracts ~~and~~would byhave ~~external~~a ~~users~~material ofadverse effect on our results of operations and financial ~~statements~~condition. The extent to which COVID-19 may adversely impact our business depends on future developments, ~~such~~which asare ~~investors~~highly uncertain and unpredictable, ~~industry~~including ~~analysts~~new information concerning the severity of the outbreak and the effectiveness of actions globally to contain or mitigate its effects. We expect this matter to negatively impact our results of operations, ~~lenders~~cash flows and ~~ratings~~financial ~~agencies~~condition. Due to the current level of uncertainty over the economic and operational impacts of COVID-19, the Partnership withdrew its previously announced operational and financial guidance for 2020 in the first quarter. The Partnership will continue to ~~assess:~~take the appropriate steps to mitigate the impacts of COVID-19 on the Partnership's operations, liquidity and financial condition.

~~• our operating performance as compared to the operating performance of other companies in the coal industry, without regard to financing methods, historical cost basis or capital structure;~~ 19

• Table ~~the ability~~ of ~~our assets to generate sufficient cash flow to make distributions to our partners;~~Contents

~~• our ability to incur and service debt and fund capital expenditures;~~Overview

•We ~~the~~are ~~viability~~a master limited partnership formed in 2015 to manage and further develop all of our sponsor's active coal operations in Pennsylvania. Our primary strategy for growing our business is to increase operating efficiencies to maximize realizations and make acquisitions that increase our distributable cash flow. At June 30, 2020, the Partnership’s assets include a 25% undivided interest in, and ~~other~~operational ~~capital~~control ~~expenditure~~over, ~~projects~~CONSOL Energy’s Pennsylvania Mining Complex, which consists of three underground mines and related infrastructure that produce high-Btu coal that is sold primarily to electric utilities in the ~~returns~~eastern onUnited ~~investment~~States. We believe that our ability to efficiently produce and deliver large volumes of ~~various~~high-quality ~~investment~~coal ~~opportunities;~~at competitive prices, the strategic location of our mines, and the industry experience of our management team position us as a leading producer of high-Btu thermal coal in the Northern Appalachian Basin and the eastern United States.

•How ~~the~~We ~~attractiveness~~Evaluate ofOur ~~capital projects and acquisitions and the overall rates of return on alternative investment opportunities.~~ Operations

~~These~~Our ~~non-GAAP~~management ~~financial~~team ~~measures~~uses ~~should~~a ~~not~~variety beof ~~considered~~financial anand ~~alternative~~operating metrics to ~~total~~analyze ~~costs,~~our ~~total~~performance. ~~coal~~These ~~revenue,~~metrics ~~net~~are ~~income,~~significant ~~operating~~factors ~~cash~~in ~~flow,~~assessing orour ~~any~~operating ~~other~~results ~~measure~~and ofprofitability. ~~financial~~The ~~performance~~metrics orinclude: ~~liquidity~~(i) ~~presented~~coal inproduction, ~~accordance~~sales ~~with~~volumes ~~GAAP. These~~and ~~measures~~average ~~exclude~~revenue ~~some,~~per ~~but~~ton; ~~not~~(ii) ~~all,~~cost ~~items~~of ~~that~~coal ~~affect~~sold, ~~net~~a ~~income~~non-GAAP orfinancial ~~net~~measure; (iii) cash cost of coal sold, ~~and~~a ~~these~~non-GAAP ~~measures~~financial ~~and~~measure; ~~the~~(iv) ~~way~~average wecash ~~calculate~~margin ~~them~~per ~~may~~ton, ~~vary~~an ~~from~~operating ~~those~~ratio ofderived ~~other~~from ~~companies.~~non-GAAP Asfinancial ameasures; ~~result,~~(v) ~~the~~adjusted ~~items~~EBITDA, ~~presented~~a ~~below~~non-GAAP ~~may~~financial ~~not~~measure; beand ~~comparable~~(vi) todistributable ~~similarly~~cash ~~titled~~flow, ~~measures~~a ofnon-GAAP ~~other~~financial ~~companies~~measure.

~~Reconciliation~~Cost of ~~Non~~coal sold, cash cost of coal sold, average cash margin per ton, adjusted EBITDA and distributable cash flow normalize the volatility contained within comparable GAAP measures by adjusting certain non-operating or non-cash transactions. Each of these non-GAAP ~~Financial~~metrics ~~Measures~~are used as supplemental financial measures by management and by external users of our financial statements, such as investors, industry analysts, lenders and ratings agencies, to assess:

We• ~~evaluate~~ our ~~cost~~operating ofperformance ~~coal sold and cash cost of coal sold on an aggregate basis. We define cost of coal sold~~ as ~~operating~~compared ~~and other production costs related~~ to ~~produced~~the ~~tons~~operating ~~sold,~~performance ~~along with changes in coal inventory, both in volumes and carrying values. The cost~~ of coal sold includes items such as direct operating costs, royalty and production taxes, direct administration, and depreciation, depletion and amortization costs on production assets. Our costs exclude any indirect costs such as selling, general and administrative costs, freight expenses, interest expenses, depreciation, depletion and amortization costs on non-production assets and other ~~costs~~companies ~~not~~in ~~directly attributable to~~ the ~~production of~~ coal. ~~The~~industry, ~~GAAP~~without ~~measure~~regard ~~most directly comparable~~ to ~~cost~~financing ~~of coal sold and cash cost of coal sold is total costs. The cash cost of coal sold includes cost of coal sold less depreciation~~methods, ~~depletion~~historical ~~and amortization~~ cost onbasis ~~production~~or ~~assets.~~capital structure;

~~The~~• ~~following~~the ~~table~~ability ~~presents a reconciliation~~ of ~~cost~~our ofassets ~~coal~~to ~~sold~~generate ~~and~~sufficient cash ~~cost~~flow ofto ~~coal~~make ~~sold~~distributions to ~~total~~our ~~costs, the most directly comparable GAAP financial measure, on a historical basis for each of the periods indicated.~~partners;

20• our ability to incur and service debt and fund capital expenditures;

	Three Months Ended March 31,
	2020			2019
Total Costs	$	67,204		$	70,887
Freight Expense	(787		)	(1,665		)
Selling, General and Administrative Expenses	(4,046		)	(4,560		)
Interest Expense, Net	(2,155		)	(1,351		)
Other Costs (Non-Production)	(440		)	(2,264		)
Depreciation, Depletion and Amortization (Non-Production)	(533		)	(577		)
Cost of Coal Sold	$	59,243		$	60,470
Depreciation, Depletion and Amortization (Production)	(11,395		)	(10,640		)
Cash Cost of Coal Sold	$	47,848		$	49,830

•

the viability of acquisitions and other capital expenditure projects and the returns on investment of various investment opportunities; and

We• ~~define~~the ~~average~~attractiveness ~~cash~~of ~~margin~~capital ~~per~~projects ~~ton~~and asacquisitions ~~average~~and ~~coal~~the ~~revenue~~overall ~~per~~rates ~~ton, net~~ of ~~average~~return ~~cash~~on ~~cost~~alternative ofinvestment ~~coal sold per ton~~opportunities. ~~The GAAP measure most directly comparable to average cash margin per ton sold is total coal revenue.~~

~~The~~These ~~following~~non-GAAP ~~table~~financial ~~presents~~measures ashould ~~reconciliation~~not ofbe ~~average~~considered ~~cash~~an ~~margin~~alternative ~~per~~to ~~ton~~total ~~sold~~costs, to total coal revenue, ~~the~~net ~~most~~income, ~~directly~~operating ~~comparable~~cash ~~GAAP~~flow, ~~financial~~or any other measure of financial performance or liquidity presented in accordance with GAAP. These measures exclude some, onbut anot ~~historical~~all, ~~basis~~items ~~for~~that ~~each~~affect net income or net cash, and these measures and the way we calculate them may vary from those of other companies. As a result, the ~~periods~~items ~~indicated~~presented below may not be comparable to similarly titled measures of other companies.

	Three Months Ended March 31,
	2020			2019
Total Coal Revenue	$	63,863		$	83,126
Operating and Other Costs	48,288			52,094
Less: Other Costs (Non-Production)	(440		)	(2,264		)
Cash Cost of Coal Sold	47,848			49,830
Add: Depreciation, Depletion and Amortization	11,928			11,217
Less: Depreciation, Depletion and Amortization (Non-Production)	(533		)	(577		)
Cost of Coal Sold	$	59,243		$	60,470
Total Tons Sold	1,480			1,683
Average Revenue per Ton Sold	$	43.16		$	49.38
Average Cash Cost of Coal Sold per Ton	32.41			29.71
Add: Depreciation, Depletion and Amortization Costs per Ton Sold	7.63			6.21
Average Cost of Coal Sold per Ton	$	40.04		$	35.92
Average Margin per Ton Sold	3.12			13.46
Add: Total Depreciation, Depletion and Amortization Costs per Ton Sold	7.63			6.21
Average Cash Margin per Ton Sold	$	10.75		$	19.67

Reconciliation of Non-GAAP Financial Measures

We evaluate our cost of coal sold and cash cost of coal sold on an aggregate basis. We define ~~adjusted~~cost ~~EBITDA~~of coal sold as ~~(i)~~operating ~~net~~and ~~income~~other ~~(loss)~~production ~~before~~costs ~~net~~related ~~interest~~to ~~expense~~produced tons sold, along with changes in coal inventory, both in volumes and carrying values. The cost of coal sold includes items such as direct operating costs, royalty and production taxes, direct administration, and depreciation, depletion and amortization, ascosts ~~adjusted~~on ~~for~~production ~~(ii)~~assets. ~~certain~~Our ~~non-cash~~costs ~~items,~~exclude any indirect costs such as ~~long-term~~selling, ~~incentive~~general ~~awards~~and ~~including~~administrative ~~phantom~~costs, ~~units~~freight ~~under~~expenses, ~~the~~interest ~~CONSOL~~expenses, ~~Coal~~depreciation, ~~Resources~~depletion LPand ~~2015~~amortization ~~Long~~costs on non-~~Term~~production ~~Incentive~~assets ~~Plan~~and ~~(“Unit-Based~~other ~~Compensation”)~~costs not directly attributable to the production of coal. The GAAP measure most directly comparable to ~~adjusted~~cost ~~EBITDA~~of coal sold and cash cost of coal sold is ~~net~~total ~~income~~costs. The cash cost of coal sold includes cost of coal sold less depreciation, depletion and amortization cost on production assets.

We define distributable cash flow as (i) net income before net interest expense, depreciation, depletion and amortization, as adjusted for (ii) certain non-cash items, such as Unit-Based Compensation, less net cash interest paid and estimated maintenance capital expenditures, which is defined as those forecasted average capital expenditures required to maintain, over the long-term, the operating capacity of our capital assets. These estimated capital expenditures do not reflect the actual cash capital incurred in the period presented. Distributable cash flow will not reflect changes in working capital balances. The GAAP measures most directly comparable to distributable cash flow are net income and net cash provided by operating activities. We define distribution coverage ratio as a ratio of the distributable cash flow to the distributions, which is the $0.5125 per quarter distribution for all limited partner units, including common and subordinated units, issued for the periods presented. 20

21 Table of Contents

The following table presents a reconciliation of ~~adjusted~~cost ~~EBITDA to net income, the most directly comparable GAAP financial measure, on a historical basis for each~~ of ~~the~~coal ~~periods~~sold ~~indicated. The~~and ~~table~~cash ~~also~~cost ~~presents a reconciliation~~ of ~~distributable~~coal ~~cash~~sold ~~flow~~ to ~~net~~total ~~income and operating cash flows~~costs, the most directly comparable GAAP financial ~~measures~~measure, on a historical basis for each of the periods indicated.

	Three Months Ended March 31,
		Three Months Ended June 30,							Six Months Ended June 30,
	~~2020~~	2020			~~2019~~	2019			2020			2019
Net Income	$	164			$	15,220
Total Costs		$	41,681			$	75,260		$	108,885		$	146,147
Plus:
Freight Expense			(771	)			(964	)		(1,558	)		(2,629	)
Interest Expense, Net	2,155				1,351
Selling, General and Administrative Expenses			(2,360	)			(2,953	)		(6,406	)		(7,513	)
Depreciation, Depletion and Amortization	11,928				11,217
Interest Expense, Net			(2,254	)			(1,557	)		(4,409	)		(2,908	)
Unit-Based Compensation	159				397
Other Costs (Non-Production)			(9,881	)			(907	)		(10,321	)		(3,171	)
Adjusted EBITDA	$	14,406			$	28,185
Depreciation, Depletion and Amortization (Non-Production)			(4,112	)			(509	)		(4,645	)		(1,086	)
Less:
Cost of Coal Sold		$	22,303			$	68,370		$	81,546		$	128,840
Cash Interest	2,046				1,875
Depreciation, Depletion and Amortization (Production)			(7,408	)			(10,827	)		(18,803	)		(21,467	)
Estimated Maintenance Capital Expenditures	8,872				8,981
Cash Cost of Coal Sold		$	14,895			$	57,543		$	62,743		$	107,373
Distributable Cash Flow	$	3,488			$	17,329
Net Cash Provided by Operating Activities	$	16,777			$	25,218
Plus:
Interest Expense, Net	2,155				1,351
Other, Including Working Capital	(4,526		)		1,616
Adjusted EBITDA	$	14,406			$	28,185
Less:
Cash Interest	2,046				1,875
Estimated Maintenance Capital Expenditures	8,872				8,981
Distributable Cash Flow	$	3,488			$	17,329
Minimum Quarterly Distributions	$	14,434			$	14,405
Distribution Coverage Ratio	0.2				1.2

22We define average cash margin per ton sold as average coal revenue per ton sold, net of average cash cost of coal sold per ton. The GAAP measure most directly comparable to average cash margin per ton sold is total coal revenue.

~~Results~~The following table presents a reconciliation of ~~Operations~~average cash margin per ton sold to total coal revenue, the most directly comparable GAAP financial measure, on a historical basis, for each of the periods indicated.

Three Months Ended March 31, 2020 Compared with the Three Months Ended March 31, 2019

	Three Months Ended June 30,						Six Months Ended June 30,
	2020			2019			2020			2019
Total Coal Revenue	$	25,507		$	87,655		$	89,370		$	170,781
Operating and Other Costs		24,776			58,450			73,064			110,544
Less: Other Costs (Non-Production)		(9,881	)		(907	)		(10,321	)		(3,171	)
Cash Cost of Coal Sold		14,895			57,543			62,743			107,373
Add: Depreciation, Depletion and Amortization		11,520			11,336			23,448			22,553
Less: Depreciation, Depletion and Amortization (Non-Production)		(4,112	)		(509	)		(4,645	)		(1,086	)
Cost of Coal Sold	$	22,303		$	68,370		$	81,546		$	128,840
Total Tons Sold		582			1,844			2,062			3,527
Average Revenue per Ton Sold	$	43.82		$	47.53		$	43.34		$	48.41
Average Cash Cost of Coal Sold per Ton		25.90			31.07			30.55			30.42
Add: Depreciation, Depletion and Amortization Costs per Ton Sold		12.42			6.00			9.00			6.10
Average Cost of Coal Sold per Ton	$	38.32		$	37.07		$	39.55		$	36.52
Average Margin per Ton Sold		5.50			10.46			3.79			11.89
Add: Total Depreciation, Depletion and Amortization Costs per Ton Sold		12.42			6.00			9.00			6.10
Average Cash Margin per Ton Sold	$	17.92		$	16.46		$	12.79		$	17.99

~~Total~~We ~~net~~define ~~income~~adjusted ~~was~~EBITDA ~~$164~~as ~~for~~(i) ~~the~~net ~~three~~income ~~months~~(loss) ~~ended~~before ~~March 31~~net interest expense, ~~2020~~depreciation, ~~compared~~depletion toand ~~$15~~amortization,~~220~~ ~~for~~as ~~the~~adjusted ~~three~~for ~~months~~(ii) ~~ended~~certain ~~March 31~~non-cash items, ~~2019.~~such ~~Our~~as ~~results~~long-term ofincentive ~~operations~~awards ~~for~~including ~~each~~phantom ofunits ~~these~~under ~~periods~~the ~~are~~CONSOL ~~presented~~Coal inResources ~~the~~LP ~~table~~2015 ~~below~~Long-Term Incentive Plan (“Unit-Based Compensation”). ~~Variances~~The ~~are~~GAAP ~~discussed~~measure ~~following~~most ~~the~~directly ~~table~~comparable to adjusted EBITDA is net income.

	For the Three Months Ended
	March 31,
	2020		2019		Variance
Revenue:
Coal Revenue	$	63,863	$	83,126	$	(19,263	)
Freight Revenue	787		1,665		(878		)
Other Income	2,718		1,316		1,402
Total Revenue and Other Income	67,368		86,107		(18,739		)
Cost of Coal Sold:
Operating Costs	47,848		49,830		(1,982		)
Depreciation, Depletion and Amortization	11,395		10,640		755
Total Cost of Coal Sold	59,243		60,470		(1,227		)
Other Costs:
Other Costs	440		2,264		(1,824		)
Depreciation, Depletion and Amortization	533		577		(44		)
Total Other Costs	973		2,841		(1,868		)
Freight Expense	787		1,665		(878		)
Selling, General and Administrative Expenses	4,046		4,560		(514		)
Interest Expense, Net	2,155		1,351		804
Total Costs	67,204		70,887		(3,683		)
Net Income	$	164	$	15,220	$	(15,056	)
Adjusted EBITDA	$	14,406	$	28,185	$	(13,779	)
Distributable Cash Flow	$	3,488	$	17,329	$	(13,841	)
Distribution Coverage Ratio	0.2		1.2		(1.0		)

23 21

~~Coal~~ Table ~~Production~~of Contents

	Three Months Ended March 31,
Mine	2020	2019	Variance
Bailey	701	737	(36	)
Enlow Fork	594	707	(113	)
Harvey	198	268	(70	)
Total	1,493	1,712	(219	)

The following table presents a reconciliation of adjusted EBITDA to net income, the most directly comparable GAAP financial measure, on a historical basis for each of the periods indicated. The table also presents a reconciliation of distributable cash flow to net income and operating cash flows, the most directly comparable GAAP financial measures, on a historical basis for each of the periods indicated.

Coal production was 1,493 tons for the three months ended March 31, 2020 compared to 1,712 tons for the three months ended March 31, 2019. Coal production decreased 219 tons mainly in response to weakened customer demand as a result of a warmer than normal winter, followed by a decline in global demand due to the COVID-19 pandemic and, in response, the widespread government-imposed shutdowns, which have significantly reduced electricity consumption and, therefore, demand for the Partnership's coal.

	Three Months Ended June 30,					Six Months Ended June 30,
	2020			2019		2020			2019
Net (Loss) Income	$	(7,854	)	$	14,387	$	(7,690	)	$	29,607
Plus:
Interest Expense, Net		2,254			1,557		4,409			2,908
Depreciation, Depletion and Amortization		11,520			11,336		23,448			22,553
Unit-Based Compensation		74			341		233			738
Adjusted EBITDA	$	5,994		$	27,621	$	20,400		$	55,806
Less:
Cash Interest		2,237			1,815		4,324			3,690
Estimated Maintenance Capital Expenditures		8,423			9,028		17,295			18,009
Distributable Cash Flow	$	(4,666	)	$	16,778	$	(1,219	)	$	34,107

Net Cash Provided by Operating Activities	$	6,539		$	21,860	$	23,316		$	47,078
Plus:
Interest Expense, Net		2,254			1,557		4,409			2,908
Other, Including Working Capital		(2,799	)		4,204		(7,325	)		5,820
Adjusted EBITDA	$	5,994		$	27,621	$	20,400		$	55,806
Less:
Cash Interest		2,237			1,815		4,324			3,690
Estimated Maintenance Capital Expenditures		8,423			9,028		17,295			18,009
Distributable Cash Flow	$	(4,666	)	$	16,778	$	(1,219	)	$	34,107

~~Coal Operations~~ 22

~~Coal~~ Table ~~revenue~~of and cost components on a per unit basis for the three months ended March 31, 2020 and 2019 are detailed in the table below. Our operations also include various costs such as selling, general and administrative, freight and other costs not included in our unit cost analysis because these costs are not directly associated with coal production.Contents

	Three Months Ended March 31,
	2020		2019		Variance
Total Tons Sold	1,480		1,683		(203		)
Average Revenue per Ton Sold	$	43.16	$	49.38	$	(6.22	)
Average Cash Cost of Coal Sold per Ton (1)	$	32.41	$	29.71	$	2.70
Depreciation, Depletion and Amortization per Ton Sold (Non-Cash Cost)	7.63		6.21		1.42
Average Cost of Coal Sold per Ton	$	40.04	$	35.92	$	4.12
Average Margin per Ton Sold	$	3.12	$	13.46	$	(10.34	)
Add: Depreciation, Depletion and Amortization Costs per Ton Sold	7.63		6.21		1.42
Average Cash Margin per Ton Sold (1)	$	10.75	$	19.67	$	(8.92	)

Results of Operations

~~(1)~~Three ~~Average~~Months ~~cash~~Ended June ~~cost of coal sold per ton~~30, ~~average~~2020 ~~margin~~Compared ~~per~~with ton sold and average cash margin per ton sold are each an operating ratio derived from non-GAAP measures. See “How We Evaluate Our Operations – Reconciliation of Non-GAAP Financial Measures” for a reconciliation of non-GAAP measures to the ~~most~~Three ~~directly~~Months ~~comparable~~Ended ~~GAAP~~June ~~measures.~~30, 2019

~~Revenue~~Total ~~and~~net ~~Other~~(loss) ~~Income~~income was ($7,854) for the three months ended June 30, 2020 compared to $14,387 for the three months ended June 30, 2019. Our results of operations for each of these periods are presented in the table below. Variances are discussed following the table.

Coal revenue was $63,863 for the three months ended March 31, 2020 compared to $83,126 for the three months ended March 31, 2019. Total tons sold decreased in the period-to-period comparison in response to weakened customer demand due to a warmer than normal winter followed by the COVID-19 pandemic and, in response, the widespread government-imposed shutdowns, which have significantly reduced electricity consumption and, therefore, demand for the Partnership's coal. The decrease in customer demand resulted in lower pricing received on netback contracts and export sales.

	For the Three Months Ended
	June 30,
	2020			2019		Variance
Revenue:
Coal Revenue	$	25,507		$	87,655	$	(62,148	)
Freight Revenue		771			964		(193	)
Other Income		7,549			1,028		6,521
Total Revenue and Other Income		33,827			89,647		(55,820	)
Cost of Coal Sold:
Operating Costs		14,895			57,543		(42,648	)
Depreciation, Depletion and Amortization		7,408			10,827		(3,419	)
Total Cost of Coal Sold		22,303			68,370		(46,067	)
Other Costs:
Other Costs		9,881			907		8,974
Depreciation, Depletion and Amortization		4,112			509		3,603
Total Other Costs		13,993			1,416		12,577
Freight Expense		771			964		(193	)
Selling, General and Administrative Expenses		2,360			2,953		(593	)
Interest Expense, Net		2,254			1,557		697
Total Costs		41,681			75,260		(33,579	)
Net (Loss) Income	$	(7,854	)	$	14,387	$	(22,241	)
Adjusted EBITDA	$	5,994		$	27,621	$	(21,627	)
Distributable Cash Flow	$	(4,666	)	$	16,778	$	(21,444	)

Freight revenue is the amount billed to customers for transportation costs incurred. This revenue is based on the weight of coal shipped, negotiated freight rates and method of transportation, primarily rail, used by the customers for which we contractually provide transportation services. Freight revenue is completely offset in freight expense. Freight revenue and freight expense were both $787 for the three months ended March 31, 2020 compared to $1,665 for the three months ended March 31, 2019. The $878 decrease was due to decreased shipments to customers where we were contractually obligated to provide transportation services. 23

24 Table of Contents

~~Other~~Coal income is comprised of income generated by the Partnership relating to non-coal producing activities. Other income was $2,718 for the three months ended March 31, 2020 compared to $1,316 for the three months ended March 31, 2019. The $1,402 increase was primarily the result of additional customer contract buyouts in the three months ended March 31, 2020, offset, in part, by a decrease in sales of externally purchased coal to blend and resell. These contract buyouts involved the negotiation of early terminations of several customer contracts in exchange for payment of certain fees to us.Production

~~Cost~~The oftable ~~Coal~~below ~~Sold~~presents total tons produced from the Pennsylvania Mining Complex on our 25% undivided interest for the periods indicated:

Cost of coal sold is comprised of operating costs related to produced tons sold, along with changes in both volumes and carrying values of coal inventory. The cost of coal sold includes items such as direct operating costs, royalties and production taxes, direct administration expenses, and depreciation, depletion, and amortization costs on production assets. Total cost of coal sold was $59,243 for the three months ended March 31, 2020, or $1,227 lower than the $60,470 for the three months ended March 31, 2019. Average cost of coal sold per ton was $40.04 per ton for the three months ended March 31, 2020, compared to $35.92 per ton for the three months ended March 31, 2019. The decrease in the total cost of coal sold was primarily driven by a decrease in production-related expenses, as less coal was mined in response to weakened commodity markets. This was partially offset by an increase in subsidence expense, primarily due to the timing and nature of properties undermined. On a per unit basis, the decreased production and higher subsidence costs resulted in an overall increase in the average cost of coal sold per ton.

	Three Months Ended June 30,
Mine	2020		2019		Variance
Bailey		251		807		(556	)
Enlow Fork		61		615		(554	)
Harvey		284		384		(100	)
Total		596		1,806		(1,210	)

~~Total~~Coal ~~Other~~production ~~Costs~~was 596 tons for the three months ended June 30, 2020 compared to 1,806 tons for the three months ended June 30, 2019. Coal production decreased 1,210 tons primarily due to the temporary idling of longwalls at the Bailey and Enlow Fork mines in response to the decline in global demand due to the COVID-19 pandemic. The widespread government-imposed shutdowns in various parts of the world significantly reduced electricity consumption and, therefore, demand for the Partnership's coal.

~~Total~~Coal other costs are comprised of various costs that are not allocated to each individual mine and therefore are not included in unit costs. Total other costs decreased $1,868 for the three months ended March 31, 2020 compared to the three months ended March 31, 2019. The decrease was primarily attributable to a reduction in costs related to externally purchased coal to blend and resell.Operations

~~Selling~~Coal revenue and cost components on a per-unit basis for the three months ended June 30, ~~General~~2020 and 2019 are detailed in the table below. Our operations also include various costs such as selling, general and ~~Administrative~~administrative, ~~Expense~~freight and other costs not included in our unit cost analysis because these costs are not directly associated with coal production.

Selling, general, and administrative expenses remained materially consistent in the period-to-period comparison.

	Three Months Ended June 30,
	2020		2019		Variance
Total Tons Sold		582		1,844		(1,262	)
Average Revenue per Ton Sold	$	43.82	$	47.53	$	(3.71	)

Average Cash Cost of Coal Sold per Ton (1)	$	25.90	$	31.07	$	(5.17	)
Depreciation, Depletion and Amortization per Ton Sold (Non-Cash Cost)		12.42		6.00		6.42
Average Cost of Coal Sold per Ton	$	38.32	$	37.07	$	1.25
Average Margin per Ton Sold	$	5.50	$	10.46	$	(4.96	)
Add: Depreciation, Depletion and Amortization Costs per Ton Sold		12.42		6.00		6.42
Average Cash Margin per Ton Sold (1)	$	17.92	$	16.46	$	1.46

~~Interest~~(1) ~~Expense~~Average cash cost of coal sold per ton, average margin per ton sold and average cash margin per ton sold are each an operating ratio derived from non-GAAP measures. See “How We Evaluate Our Operations – Reconciliation of Non-GAAP Financial Measures” for a reconciliation of non-GAAP measures to the most directly comparable GAAP measures.

~~Interest~~Revenue ~~expense,~~and ~~which~~Other ~~primarily relates to obligations under our Affiliated Company Credit Agreement, remained materially consistent in the period-to-period comparison.~~Income

~~Adjusted~~Coal ~~EBITDA~~revenue was $25,507 for the three months ended June 30, 2020 compared to $87,655 for the three months ended June 30, 2019. Total tons sold decreased in the period-to-period comparison in response to weakened customer demand due to the COVID-19 pandemic and, in response, the widespread government-imposed shutdowns, which have significantly reduced electricity consumption and, therefore, demand for the Partnership's coal. The decrease in customer demand resulted in lower pricing received on our sales contracts.

~~Adjusted~~Freight ~~EBITDA~~revenue ~~was~~is ~~$14,406~~the amount billed to customers for ~~the~~transportation ~~three~~costs ~~months~~incurred. ~~ended~~This ~~March 31,~~revenue ~~2020~~is ~~compared~~based toon ~~$28~~the weight of coal shipped,~~185~~ ~~for~~negotiated ~~the~~freight ~~three~~rates ~~months~~and ~~ended~~method ~~March 31~~of transportation, ~~2019. The~~primarily ~~$13~~rail,~~779~~ ~~decrease~~used ~~was~~by ~~primarily~~the acustomers ~~result~~for ofwhich awe $8contractually provide transportation services.92 ~~decrease~~Freight inrevenue ~~the~~is ~~average~~completely ~~cash~~offset ~~margin~~in ~~per~~freight ~~ton~~expense. ~~sold,~~Freight ~~coupled~~revenue ~~with~~and ~~203~~freight ~~fewer~~expense ~~tons~~were ~~sold~~both ~~during~~$771 for the ~~first~~three ~~quarter~~months ofended ~~2020~~June 30, ~~which~~2020 ~~equated~~compared to a $~~17,281~~964 for ~~decrease~~the tothree ~~adjusted~~months ~~EBITDA.~~ended ~~This~~June ~~was~~30, ~~partially~~2019. ~~offset~~The by$193 decrease anwas ~~increase~~due into ~~non-production~~decreased ~~related~~shipments ~~income~~to ~~and~~customers ~~lower~~where ~~non-production~~we ~~related~~were ~~costs,~~contractually asobligated ~~discussed~~to ~~above~~provide transportation services.

~~Distributable Cash Flow~~ 24

~~Distributable~~ Table ~~cash~~of flow was $3,488 for the three months ended March 31, 2020 compared to $17,329 for the three months ended March 31, 2019. The $13,841 decrease was primarily attributable to a $13,779 decrease in Adjusted EBITDA, as discussed above. Contents

25Other income is comprised of income generated by the Partnership relating to non-coal producing activities. Other income was $7,549 for the three months ended June 30, 2020 compared to $1,028 for the three months ended June 30, 2019. The $6,521 increase was primarily the result of additional customer contract buyouts in the three months ended June 30, 2020, offset, in part, by a decrease in sales of externally purchased coal to blend and resell. These partial contract buyouts involved negotiations to reduce the coal quantities several customers were previously committed to purchase under the contracts in exchange for payment of certain fees to us, and do not impact forward contract terms.

~~Capital~~Cost ~~Resources~~of ~~and~~Coal ~~Liquidity~~Sold

~~Liquidity~~Cost of coal sold is comprised of operating costs related to produced tons sold, along with changes in both volumes and ~~Financing~~carrying ~~Arrangements~~values of coal inventory. The cost of coal sold includes items such as direct operating costs, royalties and production taxes, direct administration expenses, and depreciation, depletion, and amortization costs on production assets. Total cost of coal sold was $22,303 for the three months ended June 30, 2020, or $46,067 lower than the $68,370 for the three months ended June 30, 2019. Average cost of coal sold per ton was $38.32 per ton for the three months ended June 30, 2020, compared to $37.07 per ton for the three months ended June 30, 2019. The decrease in the total cost of coal sold was primarily driven by decreased production activity during the three months ended June 30, 2020, in response to weakened commodity markets. On a per-unit basis, the decreased production resulted in an overall increase in the average cost of coal sold per ton.

~~Our~~Total ~~ongoing~~Other sources of liquidity include cash generated from operations, borrowings under our Affiliated Company Credit Agreement, and, if necessary, the ability to issue additional equity or debt securities (either directly or indirectly). We believe that cash generated from these sources will be sufficient to meet our short-term working capital requirements and our long-term capital expenditure requirements. Costs

~~The~~Total ~~demand~~other ~~for~~costs ~~coal~~are ~~experienced~~comprised ~~unprecedented decline starting at the end~~ of ~~the~~various ~~quarter~~costs ~~ended~~that ~~March~~are ~~31,~~not ~~2020~~allocated ~~and~~to ~~the~~each ~~coal~~individual ~~demand~~mine ~~decline is continuing into the second quarter of 2020 driven by the widespread government-imposed lockdowns caused by the COVID-19 pandemic, which has drastically reduced electricity usage,~~ and therefore, ~~demand~~are for our coal. This decline in coal demand has negatively impacted our operational, sales and financial performance year-to-date and we expect that this negative impact will continue as the pandemic continues. It is not ~~clear~~included ~~how long the government-imposed shutdowns of nonessential business~~ in ~~the~~unit ~~United States and abroad will last, and there is a possibility that such shutdowns may be reimposed after being lifted if COVID-19 experiences a resurgence~~costs. WeTotal ~~expect~~other ~~that~~costs ~~depressed~~increased ~~demand~~ $12,577 for ~~our~~the ~~coal~~three ~~will~~months ~~continue~~ended ~~for~~June ~~so long as there is a widespread~~30, ~~government-imposed~~2020 ~~shutdown~~compared ~~of business activity. Additionally, some of our customers have already attempted, and may in the future attempt,~~ to ~~invoke force majeure or similar provisions in~~ the ~~contracts~~three ~~they~~months ~~have~~ended inJune ~~place~~30, ~~with us in order to avoid taking possession of and paying us for our coal that they are contractually obligated to purchase~~2019. ~~Sustained~~The ~~decrease~~increase was inprimarily ~~demand~~attributable ~~for our coal and the failure of our customers~~ to purchase coal from us that they are obligated to purchase pursuant to existing contracts would have a material adverse effect on our results of operations and financial condition. The extent to which COVID-19 may adversely impact our business depends on future developments$11,532 ~~which~~in ~~are~~costs ~~highly~~related ~~uncertain and unpredictable, including new information concerning the severity of the outbreak and the effectiveness of actions globally~~ to ~~contain or mitigate its effects. While we expect this matter to negatively impact our results of operations, cash flows and financial condition,~~ the ~~current~~temporary ~~level~~idling of ~~uncertainty over~~ the ~~economic~~Bailey and ~~operational~~Enlow ~~impacts~~Fork ofmines ~~COVID-19~~due ~~means the related financial impact cannot be reasonably estimated at this time. The Partnership will continue~~ to ~~take~~ the ~~appropriate steps to mitigate the~~ impact of COVID-19 on demand for the Partnership’'s operations, liquidity and financial condition. During the first quarter, the Partnership has withdrawn its previously announced operational and financial guidance for 2020, and we recently announced our temporary idling of the Enlow Fork Mine, due to the weakness in coal ~~demand and economic slowdown related to the pandemic~~. ~~Cost containment and capital expenditure reductions remains the focus as volume opportunities remain limited in the near term.~~

WeSelling, ~~believe our strong contracted position~~General, ~~consistent cost control measures~~ and ~~liquidity~~Administrative will allow us to fund our 2020 capital and operating expenses. We experienced some delays in collections of trade receivables in 2019. If these delays continue or increase, we may have less cash flow from operations. Collections showed some improvement during the first quarter of 2020. However, we will continue to monitor the creditworthiness of our customers.Expense

WeSelling, ~~started a capital construction project on the coarse refuse disposal area in 2017~~general, ~~which is expected to continue through 2021. We have taken steps to reduce other capital expenditures~~ and ~~explore~~administrative ~~alternative~~expenses ~~sources~~remained ofmaterially ~~capital,~~consistent ~~including~~in ~~closing on~~ the ~~refinancing~~period-to-period ~~of a shield rebuild using a finance lease transaction, which generated cash proceeds of $4~~comparison.~~1 million. The interest rate on this transaction is approximately 5.6%.~~

~~Uncertainty~~Interest in the financial markets brings additional potential risks to the Partnership. These risks include declines in the Partnership's unit price, less availability and higher costs of additional credit, potential counterparty defaults, and commercial bank failures. Financial market disruptions may impact the Partnership's collection of trade receivables. As a result, the Partnership regularly monitors the creditworthiness of its customers and counterparties and manages credit exposure through payment terms, credit limits, prepayments and security. Expense

~~Our~~Interest ~~Partnership Agreement requires that we distribute all of our available cash~~expense, ifwhich ~~any,~~primarily torelates ~~our unitholders. In determining our available cash, in accordance with our Partnership Agreement, our general partner determines the amount of cash reserves needed~~ to ~~properly~~obligations ~~conduct~~under our ~~business in subsequent quarters. As a result, we expect to rely primarily upon financing under the~~ Affiliated Company Credit Agreement ~~and the issuance of debt and equity securities to fund our acquisitions and expansion capital expenditures~~, ifremained ~~any.~~materially ~~Due~~consistent ~~to the ongoing uncertainty~~ in the ~~commodity markets, driven by the COVID~~period-~~19 pandemic~~to-~~related~~period ~~demand decline, on April 23, 2020, the Board of Directors of our general partner made the decision to temporarily suspend the quarterly distribution to all of our unitholders~~comparison. While the Partnership did generate cash flow from operations during the three months ended March 31, 2020, the ongoing decline in Adjusted EBITDA has impaired our leverage ratio, and the cushion against the financial covenants contained in our credit facilities has been reduced. Accordingly, we will focus on deleveraging our balance sheet by conserving cash, boosting liquidity and reducing our outstanding debt. As

26Adjusted EBITDA

weAdjusted ~~get~~EBITDA ~~better~~was $5,994 for ~~visibility~~the onthree ~~customer~~months ~~demand~~ended inJune ~~the~~30, ~~next~~2020 ~~quarter~~compared to $27,621 for the ~~Board~~three ofmonths ~~Directors~~ended June 30, 2019. The $21,627 decrease was primarily a result of ~~our~~a ~~general~~$19,500 decrease ~~partner~~in ~~will~~the ~~determine~~cash margin and an ~~appropriate~~increase ~~level~~in ~~for~~non-production ~~cash~~related ~~distributions~~costs, partially offset by higher non-production related income, as discussed above.

OnDistributable ~~July~~Cash 25, 2019, the Board of Directors of our general partner announced that upon payment of the cash distribution with respect to the quarter ended June 30, 2019, the financial requirements for the conversion of all subordinated units had been satisfied. As a result, on August 16, 2019, all 11,611,067 subordinated units, which were owned entirely by CONSOL Energy Inc., were converted into common units on a one-for-one basis. The conversion did not impact the amount of the cash distribution paid or the total number of the Partnership's outstanding units representing limited partner interests.Flow

~~The~~Distributable ~~Partnership~~cash isflow actively monitoring the effects of the ongoing COVID-19 pandemic on its liquidity and capital resources. We took several steps in the first quarter to buttress our liquidity. We expect that there will be a decrease in demand for our coal, which could affect our liquidity. Our Affiliated Company Credit Agreement and Securitization Facility was (~~collectively~~$4, ~~the “Credit Facilities”~~666) for ~~contain certain financial covenants. Events resulting from~~ the ~~effects~~three ofmonths ~~COVID-19~~ended ~~may~~June ~~negatively impact our liquidity and~~30, as2020 acompared ~~result, our ability~~ to ~~comply with these covenants~~ $16,778 ~~which~~for ~~could~~the ~~lead~~three usmonths toended ~~seek~~June ~~an amendment or waivers from our lenders~~30, ~~limit access to or require accelerated repayment of amounts borrowed under the Credit Facilities, or require us to pursue alternative financing~~2019. WeThe ~~have no assurance that any such alternative financing~~$21,444 ifdecrease ~~required,~~was ~~could~~primarily beattributable ~~obtained at terms acceptable~~ to usa $21,627 decrease orin atAdjusted ~~all~~EBITDA, as adiscussed ~~result of the effects of COVID-19 on capital markets at such time~~above.

~~Affiliated Company Credit Agreement~~ 25

On Table November 28, 2017, the Partnership and the other Credit Parties entered into the Affiliated Company Credit Agreement by and among the Credit Parties, CONSOL Energy, as lender and administrative agent, and PNC, as collateral agent. On March 28, 2019, the Affiliated Company Credit Agreement was amended to extend the maturity date from February 27, 2023 to December 28, 2024. The Affiliated Company Credit Agreement provides for a revolving credit facility in an aggregate principal amount of up to $275,000 to be provided by CONSOL Energy, as lender. In connection with the Partnership’s entry into the Affiliated Company Credit Agreement, the Partnership made an initial draw of $200,583, the net proceeds of which were used to repay the amounts outstanding under the Partnership's prior credit facility. Additional drawings under the Affiliated Company Credit Agreement are available for general partnership purposes. The obligations under the Affiliated Company Credit Agreement are guaranteed by the Partnership’s subsidiaries and secured by substantially all of the assets of the Partnership and its subsidiaries pursuant to the security agreement and various mortgages.Contents

~~Interest~~Six onMonths ~~outstanding~~Ended ~~obligations~~June ~~under~~30, ~~our~~2020 Compared ~~Affiliated~~with ~~Company Credit Agreement accrues at a fixed rate ranging from 3.75% to 4.75% depending on~~ the Six ~~total~~Months ~~net~~Ended ~~leverage~~June ~~ratio.~~30, ~~The~~2019 ~~unused portion of our Affiliated Company Credit Agreement is subject to a commitment fee of 0.50% per annum.~~

AsTotal ofnet ~~March 31,~~(loss) ~~2020~~income was $(7,690) for the six ~~Partnership~~months ~~had~~ended ~~$180~~June 30,~~600~~ of2020 ~~borrowings~~compared ~~outstanding~~to ~~under~~$29,607 for the ~~Affiliated~~six ~~Company~~months ~~Credit~~ended ~~Agreement,~~June ~~leaving $94~~30,~~400~~ ~~of unused capacity~~2019. ~~Interest~~Our onresults ~~outstanding~~of ~~borrowings~~operations ~~under~~for ~~the~~each ~~Affiliated~~of ~~Company~~these ~~Credit~~periods ~~Agreement~~are atpresented ~~March 31,~~in ~~2020~~the ~~was~~table ~~accrued~~below. atVariances aare ~~rate~~discussed offollowing 4the table.~~00%.~~

The Affiliated Company Credit Agreement contains certain covenants and conditions that, among other things, limit the Partnership’s ability to: (i) incur or guarantee additional debt; (ii) make cash distributions (subject to certain limited exceptions); provided that we will be able to make cash distributions of available cash to partners so long as no event of default

	For the Six Months Ended
	June 30,
	2020			2019		Variance
Revenue:
Coal Revenue	$	89,370		$	170,781	$	(81,411	)
Freight Revenue		1,558			2,629		(1,071	)
Other Income		10,267			2,344		7,923
Total Revenue and Other Income		101,195			175,754		(74,559	)
Cost of Coal Sold:
Operating Costs		62,743			107,373		(44,630	)
Depreciation, Depletion and Amortization		18,803			21,467		(2,664	)
Total Cost of Coal Sold		81,546			128,840		(47,294	)
Other Costs:
Other Costs		10,321			3,171		7,150
Depreciation, Depletion and Amortization		4,645			1,086		3,559
Total Other Costs		14,966			4,257		10,709
Freight Expense		1,558			2,629		(1,071	)
Selling, General and Administrative Expenses		6,406			7,513		(1,107	)
Interest Expense, Net		4,409			2,908		1,501
Total Costs		108,885			146,147		(37,262	)
Net (Loss) Income	$	(7,690	)	$	29,607	$	(37,297	)
Adjusted EBITDA	$	20,400		$	55,806	$	(35,406	)
Distributable Cash Flow	$	(1,219	)	$	34,107	$	(35,326	)

is continuing or would result therefrom; (iii) incur certain liens or permit them to exist; (iv) make particular investments and loans; provided that we will be able to increase our ownership percentage of our undivided interest in the Pennsylvania Mining Complex and make investments in the Pennsylvania Mining Complex in accordance with our ratable ownership; (v) enter into certain types of transactions with affiliates; (vi) merge or consolidate with another company; and (vii) transfer, sell or otherwise dispose of assets. The Partnership is also subject to covenants that require the Partnership to maintain certain financial ratios. For example, the Partnership is obligated to maintain at the end of each fiscal quarter (a) maximum first lien gross leverage ratio of 2.75 to 1.00 and (b) a maximum total net leverage ratio of 3.25 to 1.00, each of which will be calculated on a consolidated basis for the Partnership and its restricted subsidiaries at the end of each fiscal quarter. At March 31, 2020, the Partnership was in compliance with its financial covenants with a first lien gross leverage ratio at 2.21 to 1.00 and a total net leverage ratio at 2.21 to 1.00. 26

~~Receivables~~ Table ~~Financing~~of ~~Agreement~~Contents

OnCoal November 30, 2017, (i) CONSOL Marine Terminals LLC, as an originator of receivables, (ii) CPCC, as an originator of receivables and as initial servicer of the receivables for itself and the other originators (collectively, the “Originators”), each a wholly owned subsidiary of CONSOL Energy, and (iii) CONSOL Funding LLC (the “SPV”), as buyer, entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”). Concurrently, (i) CONSOL Thermal Production

27The table below presents total tons produced from the Pennsylvania Mining Complex on our 25% undivided interest for the periods indicated:

Holdings, as sub-originator, and (ii) CPCC, as buyer and as initial servicer of the receivables for itself and CONSOL Thermal Holdings, entered into a Sub-Originator Agreement (the “Sub-Originator PSA”). In addition, on that date, the SPV entered into a Receivables Financing Agreement (the “Receivables Financing Agreement”) by and among (i) the SPV, as borrower, (ii) CPCC, as initial servicer, (iii) PNC, as administrative agent, LC Bank and lender, and (iv) the additional persons from time to time party thereto as lenders. Together, the Purchase and Sale Agreement, the Sub-Originator PSA and the Receivables Financing Agreement establish the primary terms and conditions of an accounts receivable securitization program (the “Securitization”). In March 2020, the Securitization was amended, among other things, to extend the scheduled termination date to March 27, 2023.

	Six Months Ended June 30,
Mine	2020		2019		Variance
Bailey		953		1,543		(590	)
Enlow Fork		654		1,323		(669	)
Harvey		483		652		(169	)
Total		2,090		3,518		(1,428	)

~~Pursuant~~Coal toproduction ~~the~~was ~~Securitization~~2,090 tons ~~(i)~~for ~~CONSOL~~the ~~Thermal~~six ~~Holdings~~months ~~will~~ended ~~sell~~June ~~current~~30, ~~and~~2020 ~~future~~compared ~~trade receivables~~ to ~~CPCC~~3,518 tons ~~and~~for ~~(ii)~~ the ~~Originators~~six ~~will~~months ~~sell~~ended ~~and/or~~June ~~contribute~~30, ~~current~~2019. ~~and~~Coal ~~future~~production ~~trade~~decreased ~~receivables~~1,428 ~~(including~~tons ~~receivables~~primarily ~~sold~~due to ~~CPCC~~the bytemporary ~~CONSOL~~idling ~~Thermal~~of ~~Holdings)~~longwalls toat the ~~SPV~~ Bailey and ~~the~~Enlow ~~SPV~~Fork ~~will,~~mines. This was mainly in ~~turn,~~response ~~pledge~~to ~~its~~weakened ~~interests~~customer indemand ~~the~~as ~~receivables~~a toresult ~~PNC~~of a warmer-than-normal winter, ~~which~~followed ~~will~~by ~~either~~a ~~make~~decline ~~loans~~in orglobal ~~issue~~demand ~~letters~~due ofto ~~credit~~the onCOVID-19 ~~behalf~~pandemic ofand, ~~the~~in ~~SPV.~~response, ~~The~~the ~~maximum~~widespread ~~amount~~government-imposed ofshutdowns, ~~advances~~which ~~and~~have ~~letters~~significantly ofreduced ~~credit~~electricity ~~outstanding~~consumption ~~under~~and, ~~the~~therefore, ~~Securitization~~demand ~~may~~for ~~not~~the ~~exceed~~Partnership's ~~$100,000~~coal.

~~Loans~~Coal under the Securitization will accrue interest at a reserve-adjusted LIBOR market index rate equal to the one-month Eurodollar rate. Loans and letters of credit under the Securitization also will accrue a program fee and a letter of credit participation fee, respectively, ranging from 2.00% to 2.50% per annum, depending on the total net leverage ratio of CONSOL Energy. In addition, the SPV paid certain structuring fees to PNC Capital Markets LLC and will pay other customary fees to the lenders, including a fee on unused commitments equal to 0.60% per annum.Operations

~~The~~Coal ~~SPV’s~~revenue ~~assets~~ and ~~credit~~cost ~~are~~components ~~not~~on ~~available~~a toper-unit ~~satisfy~~basis ~~the~~for ~~debts and obligations owed to~~ the six ~~creditors~~months ofended ~~CONSOL~~June ~~Energy~~30, ~~CONSOL~~2020 ~~Thermal~~and ~~Holdings~~2019 orare ~~any~~detailed ofin the ~~Originators~~table below. ~~CONSOL~~Our ~~Thermal~~operations ~~Holdings,~~also ~~the~~include ~~Originators~~various ~~and~~costs ~~CPCC~~such as ~~servicer are independently liable for their own customary representations~~selling, ~~warranties,~~general ~~covenants~~ and ~~indemnities. In addition~~administrative, ~~CONSOL~~freight ~~Energy has guaranteed the performance of the obligations of CONSOL Thermal Holdings, the Originators~~ and ~~CPCC~~other ascosts ~~servicer,~~not ~~and~~included ~~will~~in ~~guarantee~~our ~~the~~unit ~~obligations~~cost ofanalysis ~~any~~because ~~additional~~these ~~originators~~costs orare ~~successor~~not ~~servicer~~directly ~~that~~associated ~~may~~with ~~become~~coal ~~party to the Securitization~~production. ~~However, neither CONSOL Energy nor its affiliates will guarantee collectability of receivables or the creditworthiness of obligors thereunder.~~

The agreements comprising the Securitization contain various customary representations and warranties, covenants and default provisions which provide for the termination and acceleration of the commitments and loans under the Securitization in certain circumstances including, but not limited to, failure to make payments when due, breach of representation, warranty or covenant, certain insolvency events or failure to maintain the security interest in the trade receivables, and defaults under other material indebtedness.

	Six Months Ended June 30,
	2020		2019		Variance
Total Tons Sold		2,062		3,527		(1,465	)
Average Revenue per Ton Sold	$	43.34	$	48.41	$	(5.07	)

Average Cash Cost of Coal Sold per Ton (1)	$	30.55	$	30.42	$	0.13
Depreciation, Depletion and Amortization per Ton Sold (Non-Cash Cost)		9.00		6.10		2.90
Average Cost of Coal Sold per Ton	$	39.55	$	36.52	$	3.03
Average Margin per Ton Sold	$	3.79	$	11.89	$	(8.10	)
Add: Depreciation, Depletion and Amortization Costs per Ton Sold		9.00		6.10		2.90
Average Cash Margin per Ton Sold (1)	$	12.79	$	17.99	$	(5.20	)

As(1) Average cash cost of ~~March 31,~~coal ~~2020,~~sold ~~the~~per ~~Partnership~~ton, ~~through~~average ~~CONSOL~~margin ~~Thermal~~per ~~Holdings,~~ton sold ~~$28,747~~and ofaverage ~~trade~~cash ~~receivables~~margin toper ~~CPCC~~ton sold are each an operating ratio derived from non-GAAP measures. ~~The~~See ~~Partnership~~“How ~~has~~We ~~not~~Evaluate ~~derecognized~~Our ~~the~~Operations ~~receivables~~– ~~due~~Reconciliation toof ~~its~~Non-GAAP ~~continued~~Financial ~~involvement~~Measures” infor a reconciliation of non-GAAP measures to the ~~collections~~most ~~efforts~~directly comparable GAAP measures.

~~Cash~~Revenue ~~Flows~~and Other Income

	Three Months Ended March 31,
	2020			2019			Variance
Cash flows provided by operating activities	$	16,777		$	25,218		$	(8,441	)
Cash used in investing activities	$	(5,173	)	$	(8,093	)	$	2,920
Cash used in financing activities	$	(11,924	)	$	(17,723	)	$	5,799

Coal revenue was $89,370 for the six months ended June 30, 2020 compared to $170,781 for the six months ended June 30, 2019. Total tons sold decreased in the period-to-period comparison in response to weakened customer demand due to a warmer-than-normal winter followed by the COVID-19 pandemic and, in response, the widespread government-imposed shutdowns, which have significantly reduced electricity consumption and, therefore, demand for the Partnership's coal. The decrease in customer demand resulted in lower pricing received on our sales contracts.

~~Three~~Freight ~~Months~~revenue ~~Ended~~is ~~March~~the amount billed to customers for transportation costs incurred. This revenue is based on the weight of coal shipped, negotiated freight rates and method of transportation, primarily rail, used by the customers for which we contractually provide transportation services. Freight revenue is completely offset in freight expense. Freight revenue and freight expense were both $1,558 31for the six months ended June 30, 2020 ~~Compared~~compared ~~with~~to $2,629 for the ~~Three~~six ~~Months~~months ~~Ended~~ended ~~March 31~~June 30, 2019:. The $1,071 decrease was due to decreased shipments to customers where we were contractually obligated to provide transportation services.

Cash provided by operating activities decreased $8,441 in the period-to-period comparison, primarily due to a decrease in net income, partially offset by other working capital changes that occurred throughout both periods. 27

~~Cash~~ Table ~~used~~of in investing activities decreased $2,920 in the period-to-period comparison. Capital expenditures decreased primarily due to a decrease in expenditures related to building and infrastructure, as well as a decrease in expenditures associated with the coarse refuse disposal area project. The table below represents the various items for which cash was used for investing purposes during the three months ended March 31, 2020 and 2019. Contents

28Other income is comprised of income generated by the Partnership relating to non-coal producing activities. Other income was $10,267 for the six months ended June 30, 2020 compared to $2,344 for the six months ended June 30, 2019. The $7,923 increase was primarily the result of additional customer contract buyouts in the six months ended June 30, 2020, offset, in part, by a decrease in sales of externally purchased coal to blend and resell. These partial contract buyouts involved negotiations to reduce the coal quantities several customers were previously committed to purchase under the contracts in exchange for payment of certain fees to us, and do not impact forward contract terms.

	Three Months Ended March 31,
	2020		2019		Variance
Building and Infrastructure	$	2,827	$	3,692	$	(865	)
Equipment Purchases and Rebuilds	1,326		1,761		(435		)
Refuse Storage Area	821		1,670		(849		)
Other	199		970		(771		)
Total Capital Expenditures	$	5,173	$	8,093	$	(2,920	)

Cost of Coal Sold

~~Cash~~Cost ~~flows~~of ~~used~~coal insold ~~financing~~is ~~activities~~comprised ~~decreased~~of $5operating costs related to produced tons sold,~~799~~ along with changes in both volumes and carrying values of coal inventory. The cost of coal sold includes items such as direct operating costs, royalties and production taxes, direct administration expenses, and depreciation, depletion, and amortization costs on production assets. Total cost of coal sold was $81,546 for the ~~three~~six months ended ~~March 31~~June 30, 2020, ~~compared~~or to$47,294 lower than the ~~three~~$128,840 for the six months ended ~~March 31~~June 30, 2019. ~~The~~ ~~decrease~~Average ~~was~~cost ~~primarily~~of ~~due~~coal tosold ~~$4,073~~per ofton ~~proceeds~~was ~~received~~$39.55 inper ton for the ~~three~~six months ended ~~March 31~~June 30, 2020, ~~related~~compared to a$36.52 ~~finance~~per ~~leasing~~ton ~~arrangement~~for ~~and~~the ~~lower~~six ~~discretionary~~months ~~payments~~ended ~~made~~June ~~under~~30, ~~the~~2019. ~~Affiliated~~The ~~Company~~decrease ~~Credit~~in ~~Agreement.~~the ~~Net~~total ~~payments~~cost ~~made~~of ~~under~~coal ~~the~~sold ~~Affiliated~~was ~~Company~~primarily ~~Credit~~driven ~~Agreement~~by decreased $1production activity during the six months ended June 30,~~175~~ 2020 in ~~the~~response ~~period-~~to weakened commodity markets. On a per-~~period~~unit ~~comparison~~basis, the decreased production resulted in an overall increase in the average cost of coal sold per ton.

~~Off-Balance~~Total ~~Sheet~~Other ~~Arrangements~~Costs

WeTotal doother ~~not~~costs ~~maintain~~are ~~off-balance~~comprised ~~sheet~~of ~~transactions,~~various ~~arrangements,~~costs ~~obligations~~that orare ~~other~~not ~~relationships~~allocated ~~with~~to ~~unconsolidated~~each ~~entities~~individual ormine ~~others~~and ~~that~~therefore ~~have~~are ornot ~~are~~included ~~reasonably~~in ~~likely~~unit tocosts. ~~have~~Total aother ~~material~~costs ~~current~~increased or$10,709 for ~~future~~the ~~effect~~six onmonths ~~our~~ended ~~financial~~June ~~condition~~30, ~~changes~~2020 incompared ~~financial~~to ~~condition,~~the ~~revenues~~six ormonths ~~expenses~~ended June 30, ~~results~~2019. The ofincrease was ~~operations,~~primarily ~~liquidity,~~attributable ~~capital~~to ~~expenditures~~$11,532 orin ~~capital~~costs ~~resources~~related ~~which~~to ~~are~~the ~~not~~temporary ~~disclosed~~idling inof the ~~Notes~~Bailey and Enlow Fork mines due to the ~~unaudited~~COVID-19 ~~Consolidated~~pandemic ~~Financial~~and, ~~Statements~~ in ~~this~~response, ~~Form~~the 10widespread government-Qimposed shutdowns, which have significantly reduced electricity consumption and power prices and, therefore, demand for the Partnership's coal.

~~FORWARD-LOOKING~~Selling, ~~STATEMENTS~~General, and Administrative Expense

We are including the following cautionary statement in this Quarterly Report on Form 10-Q to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made bySelling, ~~or on behalf of us. With the exception of historical matters~~general, ~~the matters discussed in this Quarterly Report on Form 10-Q are forward-looking statements (as defined in Section 21E of the Exchange Act) that involve risks~~ and ~~uncertainties~~administrative ~~that~~expenses ~~could~~decreased ~~cause actual results and outcomes to differ materially from results expressed in or implied by our forward-looking statements. Accordingly~~$1,107 ~~investors~~for ~~should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning~~ the ~~timing~~six ~~and~~months ~~success~~ended ofJune ~~specific projects and our future production~~30, ~~revenues,~~2020 ~~income~~compared ~~and~~to ~~capital spending. When we use~~ the ~~words~~six ~~“believe,”~~months ~~“continue,”~~ended ~~“intend,”~~June ~~“expect~~30,” ~~“may,”~~2019 primarily ~~“should,”~~due “anticipate,” “could,” “estimate,” “plan,” “predict,” “project,” “will,” or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this Quarterly Report on Form 10-Q speak only as of the date of this Quarterly Report on Form 10-Q; we disclaim any obligation to ~~update~~several ~~these~~initiatives ~~statements~~launched ~~unless required~~ by ~~securities law, and we caution you not to rely on them unduly. We have based these forward-looking statements on our current expectations and assumptions about future events. While our~~ management ~~considers these expectations and assumptions~~ to bereduce ~~reasonable~~costs, ~~they~~including ~~are~~compensation ~~inherently subject to significant business~~reductions, ~~economic,~~curtailment ~~competitive, regulatory and other risks, contingencies and uncertainties, most~~ of ~~which~~discretionary ~~are difficult to predict and many of which are beyond our control. These risks~~expenses, ~~contingencies~~ and ~~uncertainties~~headcount ~~relate to, among other matters, the following:~~management.

•Interest ~~the effects the COVID-19 pandemic has on our business and results of operations and the global economy;~~Expense

•Interest ~~changes~~expense, which primarily relates to obligations under our Affiliated Company Credit Agreement increased $1,501 primarily due to less interest capitalized in the ~~coal~~six ~~prices~~months orended June 30, 2020 compared to the ~~costs~~six ofmonths ~~mining~~ended orJune ~~transporting~~30, ~~coal;~~2019.

•Adjusted ~~uncertainty in estimating economically recoverable coal reserves and replacement of reserves;~~EBITDA

•Adjusted ~~our~~EBITDA ~~ability~~was $20,400 for the six months ended June 30, 2020 compared to ~~develop~~$55,806 ~~our~~for ~~existing~~the ~~coal~~six ~~reserves~~months ended June 30, ~~acquire~~2019. ~~additional~~The ~~reserves~~$35,406 decrease was primarily a result of a $36,781 decrease in the cash margin and ~~successfully~~an increase ~~execute~~in ~~our~~non-production ~~mining~~related ~~plans;~~costs, partially offset by higher non-production related income, as discussed above.

•Distributable ~~defects~~Cash ~~in title or loss of any leasehold interests with respect to our properties;~~Flow

•Distributable ~~changes~~cash inflow ~~general~~was ~~economic~~$(1,219) for ~~conditions~~the six months ended June 30, ~~both~~2020 ~~domestically~~compared ~~and~~to ~~globally;~~$34,107 for the six months ended June 30, 2019. The $35,326 decrease was primarily attributable to a $35,406 decrease in Adjusted EBITDA, as discussed above.

~~• competitive conditions within the coal industry;~~ 28

• Table ~~changes in the consumption patterns~~ of ~~coal-fired power plants and steelmakers and other factors affecting the demand for coal by coal-fired power plants and steelmakers;~~Contents

•Capital ~~the~~Resources ~~availability~~ and ~~price of coal to the consumer compared to the price of alternative and competing fuels;~~Liquidity

•Liquidity ~~competition from the same~~ and ~~alternative~~Financing ~~energy sources;~~Arrangements

•Our ~~energy~~ongoing ~~efficiency~~potential sources of liquidity include cash generated from operations, borrowings under our Affiliated Company Credit Agreement, and, ~~technology~~if ~~trends;~~necessary, the ability to issue additional equity or debt securities (either directly or indirectly). We believe that cash generated from these sources should be sufficient to meet our short-term working capital requirements and our long-term capital expenditure requirements.

•The demand for coal experienced unprecedented decline towards the end of the first quarter of 2020, and continued through the second quarter and into the third quarter of 2020, driven by the widespread government-imposed lockdowns caused by the COVID-19 pandemic, which has drastically reduced electricity usage, and therefore, demand for our ~~ability~~coal. toThis ~~successfully~~decline ~~implement~~in coal demand has negatively impacted our ~~business~~operational, ~~plan;~~sales and financial performance year-to-date and we expect that this negative impact will continue as the pandemic continues.

•While some of the ~~price~~government-imposed shutdowns of nonessential business in the United States and ~~availability~~abroad have been phased out, there is a possibility that such shutdowns may be reimposed if COVID-19 experiences a resurgence. We expect that depressed demand for our coal will continue for so long as there is a widespread, government-imposed shutdown of ~~debt~~business activity. Depressed demand for our coal may also result from a general recession or reduction in overall business activity caused by COVID-19. Additionally, some of our customers have already attempted, and ~~equity~~may ~~financing;~~in the future attempt, to invoke force majeure or similar provisions in the contracts they have in place with us in order to avoid taking possession of and paying us for our coal that they are contractually obligated to purchase. Sustained decrease in demand for our coal and the failure of our customers to purchase coal from us that they are obligated to purchase pursuant to existing contracts would have a material adverse effect on our results of operations and financial condition. The extent to which COVID-19 may adversely impact our business depends on future developments, which are highly uncertain and unpredictable, including new information concerning the severity of the outbreak and the effectiveness of actions globally to contain or mitigate its effects. We expect this matter to negatively impact our results of operations, cash flows and financial condition. Due to the current level of uncertainty over the economic and operational impacts of COVID-19, the Partnership will continue to take the appropriate steps to mitigate the impact of COVID-19 on the Partnership’s operations, liquidity and financial condition.

29During the first quarter, the Partnership withdrew its previously announced operational and financial guidance for 2020. On April 14, 2020 we announced our temporary idling of the Enlow Fork Mine due to the weakness in coal demand and economic slowdown related to the pandemic. The temporary idling of the Bailey Mine was announced on May 2, 2020, and limited production began again at the Bailey Mine on June 8, 2020. Cost containment and capital expenditure reductions remains the focus as volume opportunities remain limited in the near term.

•We ~~operating~~believe ~~hazards~~that the recent credit amendment to our affiliate loan facility with CONSOL Energy, as discussed below, allows us to maintain access to our primary source of liquidity. From an operational standpoint, our contracted position has partially insulated us from the ongoing volatility in the spot market and ~~other~~management ~~risks~~has ~~incidental~~embarked on several cost control measures to partially offset the decline in revenue. We experienced some delays in collections of trade receivables in 2019. The COVID-related decline in demand has impacted some of our customers, resulting in continued delays in collections. We expect that this trend will improve as global demand for coal ~~mining;~~improves over the coming months. However, if these delays continue or increase, we may have less cash flow from operations.

•We ~~major~~started ~~equipment~~a ~~failures~~capital construction project on the coarse refuse disposal area in 2017, which is expected to continue through 2021. We have taken steps to reduce other capital expenditures and ~~difficulties~~explore alternative sources of capital, including closing on the refinancing of a shield rebuild using a finance lease transaction in ~~obtaining~~the ~~equipment~~first quarter of 2020, ~~parts~~which ~~and~~generated ~~raw~~cash ~~materials;~~proceeds of $4.1 million.

•Uncertainty ~~availability~~in the financial markets brings additional potential risks to the Partnership. These risks include declines in the Partnership's unit price, ~~reliability~~less availability and higher costs of ~~transporting~~additional ~~coal;~~credit, potential counterparty defaults, and commercial bank failures. Financial market disruptions may impact the Partnership's collection of trade receivables. As a result, the Partnership regularly monitors the creditworthiness of its customers and counterparties and manages credit exposure through payment terms, credit limits, prepayments and security.

•Our ~~adverse~~Partnership orAgreement ~~abnormal~~requires ~~geologic~~that ~~conditions~~we distribute all of our available cash, ~~which~~if ~~may~~any, beto ~~unforeseen;~~our unitholders. In determining our available cash, in accordance with our Partnership Agreement, our general partner determines the amount of cash reserves needed to properly conduct our business in subsequent quarters. As a result, we expect to rely primarily upon financing under the Affiliated Company Credit Agreement and the issuance of debt and equity securities to fund our acquisitions and expansion capital expenditures, if any. Due to the ongoing uncertainty in the commodity markets, driven by the COVID-19 pandemic-related demand decline, on April 23, 2020, the Board of Directors of our general partner made the decision to temporarily suspend the quarterly distribution to all of our unitholders and on July 29, 2020, the Board of Directors decided to uphold this suspension. While the Partnership did generate cash flow from operations during the six months ended June 30, 2020, the ongoing decline in Adjusted EBITDA has impaired our leverage ratio, and the cushion against the financial covenants contained in our credit facilities has been reduced. Accordingly, we will focus on deleveraging our balance sheet by conserving cash, boosting liquidity and reducing our outstanding debt.

~~• natural disasters, weather-related delays, casualty losses and other matters beyond our control;~~ 29

• Table ~~operating~~of ~~in a single geographic area;~~Contents

•On July 25, 2019, the Board of Directors of our ~~reliance~~general partner announced that upon payment of the cash distribution with respect to the quarter ended June 30, 2019, the financial requirements for the conversion of all subordinated units had been satisfied. As a result, on August 16, 2019, all 11,611,067 subordinated units, which were owned entirely by CONSOL Energy Inc., were converted into common units on a ~~few~~one-for-one ~~major~~basis. ~~customers;~~The conversion did not impact the amount of the cash distribution paid or the total number of the Partnership's outstanding units representing limited partner interests.

•The ~~labor~~Partnership ~~availability~~is continuing to actively monitor the effects of the ongoing COVID-19 pandemic on its liquidity and capital resources. As disclosed previously and above, ~~relations~~we took several steps during the first half of 2020 to reinforce our liquidity. From a shipment perspective, the decrease in demand for our coal as a result of the COVID-19 pandemic hit its lowest point to date in May and ~~other~~has ~~workforce~~since ~~factors;~~shown some modest improvement. However, continued reduced demand for our coal could materially and adversely affect our liquidity in future quarters. Our Affiliated Company Credit Agreement and Securitization Facility (collectively, the “Credit Facilities”) contain certain financial covenants. Although the June 2020 amendment loosens these covenants, events resulting from the effects of COVID-19 may nevertheless negatively impact our liquidity and, as a result, our ability to comply with these covenants, which could lead us to seek an additional amendment or waivers from our lenders, limit access to or require accelerated repayment of amounts borrowed under the Credit Facilities, or require us to pursue alternative financing. We have no assurance that any such alternative financing, if required, could be obtained at terms acceptable to us, or at all, as a result of the effects of COVID-19 on capital markets at such time.

~~• defaults by CONSOL Energy under our operating agreement, employee services agreement and~~ Affiliated Company Credit Agreement;

•On ~~restrictions~~November 28, 2017, the Partnership and the other Credit Parties entered into the Affiliated Company Credit Agreement by and among the Credit Parties, CONSOL Energy, as lender and administrative agent, and PNC, as collateral agent. On June 5, 2020, the Partnership amended the Affiliated Company Credit Agreement to provide eight quarters of financial covenant relaxation, effected a 50 basis points increase in ~~our~~the rate at which borrowings under the Affiliated Company Credit Agreement ~~that~~bear ~~may~~interest, ~~adversely~~and ~~affect~~added ~~our~~additional ~~business;~~conditions to be met for the covenants relating to general investments, investments in unrestricted subsidiaries, and distributions to equity holders of the Partnership. The Affiliated Company Credit Agreement has a maturity date of December 28, 2024. The Affiliated Company Credit Agreement provides for a revolving credit facility in an aggregate principal amount of up to $275,000 to be provided by CONSOL Energy, as lender. In connection with the Partnership’s entry into the Affiliated Company Credit Agreement, the Partnership made an initial draw of $200,583, the net proceeds of which were used to repay the amounts outstanding under the Partnership's prior credit facility. Additional drawings under the Affiliated Company Credit Agreement are available for general partnership purposes. The obligations under the Affiliated Company Credit Agreement are guaranteed by the Partnership’s subsidiaries and secured by substantially all of the assets of the Partnership and its subsidiaries pursuant to the security agreement and various mortgages.

•Interest ~~changes~~on inoutstanding obligations under our ~~tax~~Affiliated ~~status;~~Company Credit Agreement accrues at a fixed rate ranging from 4.25% to 5.25%, depending on the total net leverage ratio. The unused portion of our Affiliated Company Credit Agreement is subject to a commitment fee of 0.50% per annum.

•As ~~delays~~of inJune 30, 2020, the ~~receipt~~Partnership ofhad $179,560 of ~~failure~~borrowings tooutstanding ~~receive~~under orthe ~~revocation~~Affiliated Company Credit Agreement, leaving $95,440 of ~~necessary~~unused ~~governmental~~capacity. ~~permits;~~Interest on outstanding borrowings under the Affiliated Company Credit Agreement at June 30, 2020 was accrued at a rate of 4.75%.

•The Affiliated Company Credit Agreement contains certain covenants and conditions that, among other things, limit the ~~effect~~Partnership’s ability to: (i) incur or guarantee additional debt; (ii) make cash distributions; provided that we will be able to make cash distributions of ~~existing~~available cash to partners so long as the Partnership's first lien gross leverage ratio shall not be greater than 2.00 to 1.00, the fixed charge coverage ratio shall be not less than 1.00 to 1.00, and ~~future~~no ~~laws~~event of default is continuing or would result therefrom; (iii) incur certain liens or permit them to exist; (iv) make particular investments and ~~government~~loans; ~~regulations~~provided that we will be able to increase our ownership percentage of our undivided interest in the Pennsylvania Mining Complex and make investments in the Pennsylvania Mining Complex in accordance with our ratable ownership; (v) enter into certain types of transactions with affiliates; (vi) merge or consolidate with another company; and (vii) transfer, ~~including~~sell or otherwise dispose of assets. The Partnership is also subject to covenants that require the ~~enforcement~~Partnership to maintain certain financial ratios, each of which will be calculated on a consolidated basis for the Partnership and ~~interpretation~~its restricted subsidiaries at the end of ~~environmental~~each ~~laws~~fiscal ~~thereof~~quarter. The amendment revised the financial covenants in the Affiliated Company Credit Agreement, so that for the fiscal quarters ending June 30, 2020 through March 31, 2021, the maximum first lien gross leverage ratio shall be 3.75 to 1.00 and the maximum total net leverage ratio shall be 4.00 to 1.00; for the fiscal quarters ending June 30, 2021 through September 30, 2021, the maximum first lien gross leverage ratio shall be 3.50 to 1.00 and the maximum total net leverage ratio shall be 3.75 to 1.00; for the fiscal quarters ending December 31, 2021 through March 31, 2022, the maximum first lien gross leverage ratio shall be 3.00 to 1.00 and the maximum total net leverage ratio shall be 3.50 to 1.00; and for the fiscal quarters ending on or after June 30, 2022, the maximum first lien gross leverage ratio shall be 2.75 to 1.00 and the maximum total net leverage ratio shall be 3.25 to 1.00. At June 30, 2020, the Partnership was in compliance with its financial covenants with a first lien gross leverage ratio at 2.93 to 1.00 and a total net leverage ratio at 2.93 to 1.00.

•Receivables ~~the~~Financing ~~effect of new or expanded greenhouse gas regulations;~~Agreement

•On ~~coal~~November ~~users~~30, ~~switching~~2017, to(i) CONSOL Marine Terminals LLC, as an originator of receivables, (ii) CPCC, as an originator of receivables and as initial servicer of the receivables for itself and the other ~~fuels~~originators in(collectively, ~~order~~the “Originators”), each a wholly owned subsidiary of CONSOL Energy, and (iii) CONSOL Funding LLC (the “SPV”), as buyer, entered into a Purchase and Sale Agreement (the “Purchase and Sale Agreement”). Concurrently, (i) CONSOL Thermal Holdings, as sub-originator, and (ii) CPCC, as buyer and as initial servicer of the receivables for itself and CONSOL Thermal Holdings, entered into a Sub-Originator Agreement (the “Sub-Originator PSA”). In addition, on that date, the SPV entered into a Receivables Financing Agreement (the “Receivables Financing Agreement”) by and among (i) the SPV, as borrower, (ii) CPCC, as initial servicer, (iii) PNC, as administrative agent, LC Bank and lender, and (iv) the additional persons from time to ~~comply~~time ~~with~~party ~~various~~thereto ~~environmental~~as ~~standards~~lenders. ~~related~~Together, the Purchase and Sale Agreement, the Sub-Originator PSA and the Receivables Financing Agreement establish the primary terms and conditions of an accounts receivable securitization program (the “Securitization”). In March 2020, the Securitization was amended, among other things, to ~~coal~~extend ~~combustion~~the ~~emissions;~~scheduled termination date to March 27, 2023.

• the impact of potential, as well as many adopted, regulations to address climate change, including any relating to greenhouse gas emissions on our operating costs as well as on the market for coal; 30

• Table ~~the effects~~ of ~~litigation;~~Contents

•Pursuant ~~adverse~~to ~~effect~~the Securitization, (i) CONSOL Thermal Holdings will sell current and future trade receivables to CPCC and (ii) the Originators will sell and/or contribute current and future trade receivables (including receivables sold to CPCC by CONSOL Thermal Holdings) to the SPV and the SPV will, in turn, pledge its interests in the receivables to PNC, which will either make loans or issue letters of ~~cybersecurity~~credit ~~threats;~~on behalf of the SPV. The maximum amount of advances and letters of credit outstanding under the Securitization may not exceed $100,000.

•Loans ~~failure~~under the Securitization will accrue interest at a reserve-adjusted LIBOR market index rate equal to ~~maintain~~the ~~effective~~one-month ~~internal~~Eurodollar ~~controls~~rate. ~~over~~Loans ~~financial~~and ~~reporting;~~letters of credit under the Securitization also will accrue a program fee and a letter of credit participation fee, respectively, ranging from 2.00% to 2.50% per annum, depending on the total net leverage ratio of CONSOL Energy. In addition, the SPV paid certain structuring fees to PNC Capital Markets LLC and will pay other customary fees to the lenders, including a fee on unused commitments equal to 0.60% per annum.

•The ~~recent~~SPV’s ~~action~~assets and credit are not available to satisfy the ~~possibility~~debts and obligations owed to the creditors of ~~future~~CONSOL ~~action~~Energy, onCONSOL ~~trade~~Thermal byHoldings Uor any of the Originators.S CONSOL Thermal Holdings, the Originators and CPCC as servicer are independently liable for their own customary representations, warranties, covenants and indemnities. In addition, CONSOL Energy has guaranteed the performance of the obligations of CONSOL Thermal Holdings, the Originators and ~~foreign~~CPCC ~~governments;~~as servicer, and will guarantee the obligations of any additional originators or successor servicer that may become party to the Securitization. However, neither CONSOL Energy nor its affiliates will guarantee collectability of receivables or the creditworthiness of obligors thereunder.

•The ~~conflicts~~agreements comprising the Securitization contain various customary representations and warranties, covenants and default provisions which provide for the termination and acceleration of ~~interest~~the ~~that~~commitments ~~may~~and ~~cause~~loans ~~our~~under ~~general~~the ~~partner~~Securitization in certain circumstances including, but not limited to, failure to make payments when due, breach of representation, warranty or ~~CONSOL~~covenant, ~~Energy~~certain insolvency events or failure to ~~favor~~maintain ~~their~~the ~~own~~security interest toin ~~our~~the ~~detriment;~~trade receivables, and defaults under other material indebtedness.

•As of June 30, 2020, the ~~requirement~~Partnership, ~~that~~through weCONSOL ~~distribute~~Thermal ~~all~~Holdings, sold $22,386 of ~~our~~trade ~~available~~receivables ~~cash;~~to ~~and~~CPCC. The Partnership has not derecognized the receivables due to its continued involvement in the collections efforts.

•Cash ~~other factors discussed in our 2019 Annual Report on Form 10-K under “Risk Factors,” as updated by any subsequent Quarterly Reports on Forms 10-Q, which are on file at the SEC.~~Flows

ITEM 4. CONTROLS AND PROCEDURES

	Six Months Ended June 30,
	2020			2019			Variance
Cash flows provided by operating activities	$	23,316		$	47,078		$	(23,762	)
Cash used in investing activities	$	(9,234	)	$	(18,042	)	$	8,808
Cash used in financing activities	$	(14,523	)	$	(29,579	)	$	15,056

~~Evaluation~~Six ofMonths ~~Disclosure~~Ended ~~Controls~~June ~~and~~30, ~~Procedures~~2020 Compared with the Six Months Ended June 30, 2019:

~~Under~~Cash ~~the~~provided ~~supervision~~by ~~and~~operating ~~with~~activities ~~the~~decreased ~~participation of the management of the Partnership’s general partner~~$23,762 ~~including~~in the ~~Chief~~period-to-period ~~Executive Officer and the Interim Chief Financial Officer of the general partner~~comparison, anprimarily ~~evaluation~~due ~~of the effectiveness of our disclosure controls and procedures pursuant~~ to ~~Rules~~a ~~13a-15(e)~~decrease ~~under~~in ~~the~~net ~~Securities Exchange Act of 1934~~income, aspartially ~~amended~~offset ~~(the “Exchange Act”), was conducted as of the end of the period covered~~ by ~~this~~other ~~report. Based~~working ~~upon~~capital ~~this~~changes ~~evaluation, the Chief Executive Officer and Interim Chief Financial Officer of the Partnership’s general partner have concluded~~ that ~~the~~occurred ~~Partnership’s~~throughout ~~disclosure~~both ~~controls and procedures were effective as of the end of the period covered by this report~~periods.

~~Changes~~Cash used in ~~Internal~~investing ~~Control~~activities ~~over~~decreased ~~Financial~~$8,808 ~~Reporting~~in the period-to-period comparison. Capital expenditures decreased primarily as a result of cost control measures put into place in response to the COVID-19 pandemic and the overall decline in coal markets.

~~There were no changes in our internal control over financial reporting that occurred during the fiscal quarter ended March~~ 31~~, 2020 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.~~

It Table ~~should be noted that any system~~ of controls, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the system will be met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of future events.Contents

PART II: OTHER INFORMATION

	Six Months Ended June 30,
	2020		2019		Variance
Building and Infrastructure	$	4,785	$	7,959	$	(3,174	)
Equipment Purchases and Rebuilds		2,401		5,152		(2,751	)
Refuse Storage Area		1,736		3,317		(1,581	)
Other		317		1,618		(1,301	)
Total Capital Expenditures	$	9,239	$	18,046	$	(8,807	)

~~ITEM~~Cash 1flows used in financing activities decreased $15,056 in the six months ended June 30, 2020 compared to the six months ended June 30, 2019. ~~LEGAL~~ ~~PROCEEDINGS~~The decrease was primarily due to the temporary suspension of the quarterly distribution payment to all unitholders, as discussed above, which resulted in a $14,375 decrease to cash used in financing activities. In addition, the decrease was due to $4,073 of proceeds received in the six months ended June 30, 2020 related to a finance leasing arrangement, partially offset by higher discretionary payments made under the Affiliated Company Credit Agreement. Net payments made under the Affiliated Company Credit Agreement increased $3,365 in the period-to-period comparison.

~~Refer~~Off-Balance toSheet ~~paragraph one within Part 1, Item 1. Financial Statements, “Note 11. Commitments and Contingent Liabilities,” which is incorporated herein by reference.~~Arrangements

30We do not maintain off-balance sheet transactions, arrangements, obligations or other relationships with unconsolidated entities or others that have or are reasonably likely to have a material current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources which are not disclosed in the Notes to the unaudited Consolidated Financial Statements in this Form 10-Q.

~~ITEM~~FORWARD-LOOKING ~~1A. RISK FACTORS~~STATEMENTS

InWe ~~addition~~are toincluding the ~~other~~following ~~information~~cautionary ~~set~~statement ~~forth~~ in this ~~quarterly~~Quarterly ~~report,~~Report ~~including~~on Form 10-Q to make applicable and take advantage of the ~~risk~~safe ~~factor~~harbor ~~below~~provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, ~~you~~or ~~should~~on ~~carefully~~behalf ~~consider~~of us. With the ~~factors~~exception of historical matters, the matters discussed in ~~“Part~~this IQuarterly Report on Form 10-Q ~~Item~~are 1Aforward-looking statements (as defined in Section 21E of the Exchange Act) that involve risks and uncertainties that could cause actual results and outcomes to differ materially from results expressed in or implied by our forward-looking statements. ~~Risk~~Accordingly, ~~Factors”~~investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking statements may include projections and estimates concerning the timing and success of specific projects and our ~~2019~~future production, revenues, income and capital spending. When we use the words “believe,” “continue,” “intend,” “expect,” “may,” “should,” “anticipate,” “could,” “estimate,” “plan,” “predict,” “project,” “will,” or their negatives, or other similar expressions, the statements which include those words are usually forward-looking statements. When we describe strategy that involves risks or uncertainties, we are making forward-looking statements. The forward-looking statements in this Quarterly Report on Form 10-K,Q speak only as ~~updated~~of bythe ~~any~~date ~~subsequent~~of this Quarterly Report on Form 10-~~Qs.~~Q; ~~These~~we ~~described~~disclaim ~~risks~~any ~~are~~obligation ~~not~~to ~~the~~update ~~only~~these ~~risks~~statements unless required by securities law, and we ~~face~~caution you not to rely on them unduly. ~~Additional~~We ~~risks~~have based these forward-looking statements on our current expectations and ~~uncertainties~~assumptions ~~not~~about ~~currently~~future ~~known~~events. toWhile usour ormanagement ~~that~~considers wethese ~~currently~~expectations ~~deem~~and assumptions to be ~~immaterial~~reasonable, ~~also~~they ~~may~~are ~~materially~~inherently ~~adversely~~subject ~~affect~~to ~~our~~significant business, ~~financial~~economic, ~~condition~~competitive, regulatory and~~/or~~ ~~operating~~other ~~results~~risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. These risks, contingencies and uncertainties relate to, among other matters, the following:

~~Our~~• ~~business,~~the ~~results~~effects ofthe ~~operations~~COVID-19 ~~and~~pandemic ~~financial~~has ~~condition~~on ~~may~~our bebusiness ~~adversely~~and ~~affected~~results byof ~~the~~operations ~~outbreak~~and of the ~~novel~~global ~~coronavirus (COVID-19)~~economy;

~~The~~• ~~COVID-19~~changes ~~pandemic~~in ~~began~~coal toprices ~~adversely~~or ~~impact our business and operations late in~~ the ~~first~~costs ~~quarter~~ of ~~2020~~mining ~~and~~or istransporting continuing to adversely affect our business, operations and liquidity. The effects of the continuing pandemic and related governmental response could include extended disruptions to supply chains and capital markets, reduced labor availability and productivity and a prolonged reduction in demand for coal ~~and overall global economic activity.~~;

~~The~~• ~~demand~~uncertainty for coal experienced unprecedented decline starting at the end of the quarter ended March 31, 2020 and the coal demand decline is continuing into the second quarter of 2020 driven by the widespread government-imposed lockdowns caused by the COVID-19 pandemic, which has drastically reduced electricity usage, and therefore, demand for our coal. This decline in ~~coal~~estimating ~~demand~~economically ~~has~~recoverable negatively impacted our operational, sales and financial performance year-to-date and we expect that this negative impact will continue as the pandemic continues. It is not clear how long the government-imposed shutdowns of nonessential business in the United States and abroad will last, and there is a possibility that such shutdowns may be reimposed after being lifted if COVID-19 experiences a resurgence. We expect that depressed demand for our coal ~~will~~reserves ~~continue for so long as there is a widespread, government-imposed shutdown of business activity. Additionally, some of our customers have already attempted,~~ and ~~may~~replacement ~~in the future attempt, to invoke force majeure or similar provisions in the contracts they have in place with us in order to avoid taking possession~~ of and paying us for our coal that they are contractually obligated to purchase. Sustained decrease in demand for our coal and the failure of our customers to purchase coal from us that they are obligated to purchase pursuant to existing contracts would have a material adverse effect on our result of operations and financial condition. In addition, COVID-19 is present in Pennsylvania. On March 30, 2020, our sponsor announced that it temporarily curtailed production at the Bailey Mine for a two week period and undertook a precautionary deep cleaning of the facilities at the Bailey Mine after two of its employees working at such facility tested positive for COVID-19. Our sponsor may be forced to temporarily curtail production in its mines again if some of its employees test positive for COVID-19 in the future. Such temporary curtailment could have a significant impact on our production of coal.reserves;

~~The~~• continued spread of COVID-19 has caused increased volatility in the global capital markets. Such volatility increases the cost of and decreases access to capital. If the Partnership needs to access the capital markets to fund its operations, such capital could be prohibitively expensive, which could cause the Partnership to pursue alternative sources of funding for our operations and working capital. Finally, COVID-19 may cause some of our suppliers to fail to deliver the quantities of supplies we need or fail to deliver such supplies in a timely manner. The failure to receive any such critical supplies could inhibit our ability to ~~operate~~develop our ~~mines~~existing orcoal ~~otherwise run our business. Additionally~~reserves, ~~our~~acquire ~~ability~~additional toreserves ~~ship~~and ~~our~~successfully ~~coal~~execute ~~domestically or abroad could be impaired by disruptions in~~ our ~~global~~mining ~~transportation network resulting from the COVID-19 pandemic.~~plans;

~~The~~• ~~extent~~defects toin ~~which~~title ~~COVID-19~~or ~~may~~loss ~~adversely impact our business depends on future developments, which are highly uncertain and unpredictable, including new information concerning the severity~~ of ~~the~~any ~~outbreak~~leasehold ~~and~~interests ~~the~~with ~~effectiveness~~respect ~~of actions globally~~ to ~~contain or mitigate its effects. While we expect this matter to negatively impact~~ our results of operations, cash flows and financial condition, the current level of uncertainty over the economic and operational impacts of COVID-19 means the related financial impact cannot be reasonably estimated at this time. The Partnership will continue to take the appropriate steps to mitigate the impact of COVID-19 on the Partnership’s operations, liquidity and financial condition.properties;

~~ITEM~~• ~~2. UNREGISTERED~~changes ~~SALES~~in OFgeneral ~~EQUITY~~economic ~~SECURITIES~~conditions, ~~AND~~both ~~USE~~domestically OFand ~~PROCEEDS~~globally;

~~None.~~• competitive conditions within the coal industry;

~~ITEM~~• ~~4. MINE~~changes ~~SAFETY~~in ~~DISCLOSURES~~the consumption patterns of coal-fired power plants and steelmakers and other factors affecting the demand for coal by coal-fired power plants and steelmakers;

~~The~~• ~~information concerning mine safety violations or other regulatory matters required by Section 1503(a) of~~ the ~~Dodd-Frank~~availability ~~Wall Street Reform~~ and ~~Consumer~~price ~~Protection Act and Item 104~~ of ~~Regulation~~coal ~~S-K~~to ~~(17~~the ~~CFR~~consumer ~~229.104)~~compared ~~is included in Exhibit 95~~ to ~~this~~the ~~Quarterly~~price ~~Report~~of onalternative ~~Form~~and ~~10-Q.~~competing fuels;

31• competition from the same and alternative energy sources;

~~ITEM~~• ~~6. EXHIBITS~~energy efficiency and technology trends;

Exhibits	Description	Method of Filing
31.1	Certification of Chief Executive Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002	Filed herewith
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	Filed herewith
32.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	Filed herewith
32.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	Filed herewith
95	Mine Safety and Health Administration Safety Data.	Filed herewith
101	Interactive Data File (Form 10-Q for the quarterly period ended March 31, 2020, furnished in XBRL).	Filed herewith
104	Cover Page Interactive Data File (formatted as Inline XBRL)	Contained in Exhibit 101

•

our ability to successfully implement our business plan;

32• the price and availability of debt and equity financing;

~~SIGNATURES~~ 32

~~Pursuant~~ Table ~~to the requirements~~ of ~~the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.~~Contents

~~Dated:~~• ~~May~~operating ~~11,~~hazards ~~2020~~and other risks incidental to coal mining;

~~CONSOL~~• ~~Coal~~major ~~Resources~~equipment LPfailures ~~By:~~and ~~CONSOL~~difficulties ~~Coal~~in ~~Resources~~obtaining ~~GP LLC~~equipment, ~~its~~parts ~~general partner By: /s/ JAMES A. BROCK James A. Brock Chief Executive Officer, Chairman of the Board~~ and ~~Director(Principal~~raw Executive Officer) By: CONSOL Coal Resources GP LLC, its general partner By: /s/ MITESHKUMAR B. THAKKAR Miteshkumar B. Thakkar Interim Chief Financial Officer(Principal Financial Officer) By: CONSOL Coal Resources GP LLC, its general partner By: /s/ JOHN M. ROTHKA John M. Rothka Chief Accounting Officer(Principal Accounting Officer)materials;

33• availability, reliability and costs of transporting coal;

•

adverse or abnormal geologic conditions, which may be unforeseen;

•

natural disasters, weather-related delays, casualty losses and other matters beyond our control;

•

operating in a single geographic area;

•

our reliance on a few major customers;

•

labor availability, relations and other workforce factors;

•

defaults by CONSOL Energy under our operating agreement, employee services agreement and Affiliated Company Credit Agreement;

•

restrictions in our Affiliated Company Credit Agreement that may adversely affect our business;

•

changes in our tax status;

•

delays in the receipt of, failure to receive or revocation of necessary governmental permits;

•

the effect of existing and future laws and government regulations, including the enforcement and interpretation of environmental laws thereof;

•

the effect of new or expanded greenhouse gas regulations;

•

coal users switching to other fuels in order to comply with various environmental standards related to coal combustion emissions;

•

the impact of potential, as well as many adopted, regulations to address climate change, including any relating to greenhouse gas emissions on our operating costs as well as on the market for coal;

•

the effects of litigation;

•

adverse effect of cybersecurity threats;

•

failure to maintain effective internal controls over financial reporting;

•

recent action and the possibility of future action on trade by U.S. and foreign governments;

•

conflicts of interest that may cause our general partner or CONSOL Energy to favor their own interest to our detriment;

•

the requirement that we distribute all of our available cash; and

•

other factors discussed in our 2019 Annual Report on Form 10-K under “Risk Factors,” as updated by any subsequent Quarterly Reports on Forms 10-Q, which are on file at the SEC.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of the management of the Partnership’s general partner, including the Chief Executive Officer and the Chief Financial Officer of the general partner, an evaluation of the effectiveness of our disclosure controls and procedures pursuant to Rules 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), was conducted as of the end of the period covered by this report. Based upon this evaluation, the Chief Executive Officer and Chief Financial Officer of the Partnership’s general partner have concluded that the Partnership’s disclosure controls and procedures were effective as of the end of the period covered by this report.

Changes in Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting that occurred during the fiscal quarter ended June 30, 2020 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

It should be noted that any system of controls, however well designed and operated, can provide only reasonable, and not absolute, assurance that the objectives of the system will be met. In addition, the design of any control system is based in part upon certain assumptions about the likelihood of future events.

PART II: OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Refer to paragraph one within Part 1, Item 1. Financial Statements, “Note 11. Commitments and Contingent Liabilities,” which is incorporated herein by reference.

Table of Contents

ITEM 1A. RISK FACTORS

In addition to the other information set forth in this quarterly report, including the risk factor below, you should carefully consider the factors discussed in “Part I - Item 1A. Risk Factors” of our 2019 Form 10-K, as updated by any subsequent Form 10-Qs. These described risks are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition and/or operating results.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 4. MINE SAFETY DISCLOSURES

The information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K (17 CFR 229.104) is included in Exhibit 95 to this Quarterly Report on Form 10-Q.

Table of Contents

ITEM 6. EXHIBITS

Exhibits	Description	Method of Filing

10.1	Amendment No. 2, dated as of June 5, 2020, to Affiliated Company Credit Agreement, dated November 28, 2017, by and among CONSOL Coal Resources LP, certain of its affiliates party thereto, CONSOL Energy Inc. and PNC Bank, National Association.	Filed as Exhibit 10.1 to Form 8-K (#001-37456) filed on June 11, 2020

31.1	Certification of Chief Executive Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002	Filed herewith

31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002	Filed herewith

32.1	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	Filed herewith

32.2	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	Filed herewith

95	Mine Safety and Health Administration Safety Data.	Filed herewith

101	Interactive Data File (Form 10-Q for the quarterly period ended June 30, 2020, furnished in XBRL).	Filed herewith

104	Cover Page Interactive Data File (formatted as Inline XBRL)	Contained in Exhibit 101

Table of Contents

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: August 10, 2020


	CONSOL Coal Resources LP

	By:	CONSOL Coal Resources GP LLC, its general partner
	By:	/s/ JAMES A. BROCK
		James A. Brock
		Chief Executive Officer, Chairman of the Board and Director (Principal Executive Officer)


	By:	CONSOL Coal Resources GP LLC, its general partner
	By:	/s/ MITESHKUMAR B. THAKKAR
		Miteshkumar B. Thakkar
		Chief Financial Officer (Principal Financial Officer)


	By:	CONSOL Coal Resources GP LLC, its general partner
	By:	/s/ JOHN M. ROTHKA
		John M. Rothka
		Chief Accounting Officer (Principal Accounting Officer)

Filing Compare · CONSOL Coal Resources LP