Cloud Peak Energy has announced it has launched a “strategic alternatives” review that includes an option to sell the company.
According to multiple reports, Cloud Peak is suffering from a $30 million loss for the second quarter of 2018. The company that operates exclusively in Wyoming and Montana’s Powder River Basin has seen stock prices fall from $7.47 per share in 2016 to $1.44 in 2018.
Cloud Peak employs about 850 miners at the Cordero Rojo and Antelope mines in Campbell County.
CEO Colin Marshal told Casper Star-Tribune reporters this week that the strategic alternatives review is going to, “position our company for future growth opportunities.”
Earlier this year, the company closed its office in Gillette to cut costs. They are looking for a smaller office space currently in Denver.