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CNX Resources Corporation (NYSE: CNX) is a leading independent natural gas exploration, development, and production company, primarily operating in the Appalachian Basin’s major shale formations. With over 150 years of legacy and a robust asset base, CNX focuses on organic growth and responsible resource development to create long-term value for shareholders, employees, and the communities in which it operates.
As of December 31, 2023, CNX had 8.74 trillion cubic feet equivalent of proved natural gas reserves, making it a significant player in the energy sector. The company is also a member of the Standard & Poor's Midcap 400 Index. CNX's core business operations include two primary segments: Shale and Coalbed Methane, with the Shale segment generating the maximum revenue.
CNX is committed to environmental sustainability and low carbon intensity in its operations. The company has been actively involved in innovative projects such as ZeroHP CNG and Clean mLNG, which leverage natural high gas pressures and advanced technologies to produce compressed and liquefied natural gas efficiently. These projects aim to reduce costs and environmental footprint significantly.
Recent achievements include substantial donations to the CNX Foundation by President and CEO Nick Deiuliis, aimed at supporting underserved rural and urban communities. The foundation focuses on impactful and local investments to foster community growth and opportunities.
Moreover, CNX has partnered with Chemstream Inc. to enhance operational transparency under the Radical Transparency initiative, ensuring comprehensive chemical additive disclosures. This collaboration aims to set new standards for public policy decisions around energy and environmental issues.
Financially, CNX has maintained a strong position despite market fluctuations. The company has strategically delayed certain projects to avoid oversupply and continue its disciplined capital allocation. CNX's operational and guidance updates reflect its adaptability and commitment to long-term value creation.
CNX is also actively developing proprietary technologies through its New Technologies business unit. This includes automated flowback systems in partnership with Deep Well Services, aiming to revolutionize flowback operations in the oil and gas industry.
For more information about CNX Resources Corporation, visit their website at www.cnx.com.
CNX Resources (NYSE: CNX) has successfully closed a private placement of $200.0 million in 7.250% senior notes due 2032 at 100.500% of par, with a yield to worst of 7.104%. These notes are additional to the previously issued $400.0 million aggregate principal amount under the same terms.
The new notes are guaranteed by CNX's restricted subsidiaries that guarantee its revolving credit facility. The proceeds will be used for general corporate purposes, including funding transaction costs for the pending acquisition of Apex Energy entities and temporarily paying down revolving credit facility borrowings.
The notes are being offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. As of December 31, 2023, CNX had 8.74 trillion cubic feet equivalent of proved natural gas reserves.
CNX Resources (NYSE: CNX) has announced the pricing of $200.0 million of additional 7.250% senior notes due 2032 at 100.500% of par, with a yield to worst of 7.104%. These New Notes are being offered under an existing indenture where CNX previously issued $400.0 million of similar notes.
The offering is expected to close on January 21, 2025. The New Notes will be guaranteed by CNX's restricted subsidiaries that guarantee its revolving credit facility. The proceeds will be used for general corporate purposes, including funding transaction costs for the pending acquisition of Apex Energy entities and temporarily paying down revolving credit facility borrowings.
The New Notes will be offered only to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. As of December 31, 2023, CNX had 8.74 trillion cubic feet equivalent of proved natural gas reserves.
CNX Resources (NYSE: CNX) has announced a private placement offering of $200 million in 7.250% senior notes due 2032. These notes are additional to the previously issued $400 million aggregate principal amount under the same terms. The new notes will be guaranteed by CNX's restricted subsidiaries that guarantee its revolving credit facility.
The proceeds will be used for general corporate purposes, including funding transaction costs for the pending acquisition of Apex Energy entities and temporarily paying down borrowings under the company's senior secured revolving credit facility. The notes will be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S.
As of December 31, 2023, CNX had 8.74 trillion cubic feet equivalent of proved natural gas reserves.
Arch Resources (NYSE: ARCH) and CONSOL Energy (NYSE: CEIX) announced that stockholders of both companies have approved all proposals related to their pending merger. The combination is expected to complete on January 14, 2025, subject to remaining customary closing conditions.
Following the merger, the combined entity will be renamed Core Natural Resources, Inc. and will be headquartered in Canonsburg, Pennsylvania. The company's common stock is expected to begin trading on the New York Stock Exchange under the new ticker symbol CNR on January 15, 2025.
CNX Resources Corp. (NYSE: CNX) has announced it will release its fourth quarter 2024 financial results on Thursday, January 30, 2025, at 6:45 a.m. Eastern Time. The company will publish a brief press release containing links to prepared remarks, presentation materials, and supplemental information about Q4 2024 performance on its Investor Relations website.
Following the release, CNX will host a Q&A conference call and webcast at 10:00 a.m. ET. Investors can access the call through domestic (855-656-0928) and international (412-902-4112) dial-in numbers. A replay of the conference call and webcast will be available on CNX's Investor Relations website.
CNX Resources (NYSE: CNX) has responded to the Department of Treasury's final rules regarding the Section 45V Hydrogen Production Tax Credit under the Inflation Reduction Act. While the company welcomes the recognition of captured waste coal mine methane (CMM) as a feedstock for hydrogen production, CNX finds the implementation rules too restrictive and economically insufficient to warrant expanding their CMM capture operations for hydrogen production.
Despite these limitations, CNX plans to explore alternative incentive pathways for CMM volumes, including voluntary markets, other tax incentives, and compliance program commercial opportunities that acknowledge waste mine methane capture.
CNX Resources has announced a strategic acquisition of Apex Energy II's natural gas upstream and midstream business in the Appalachian Basin for $505 million. The transaction, expected to close in Q1 2025, expands CNX's Marcellus and Utica operations with approximately 36,000 total net acres in Westmoreland County, Pennsylvania.
The acquisition includes expected 2025 daily production of 180-190 MMcfe/d and EBITDA of $150-160 million. The assets feature low operating costs of $0.16/Mcfe and significant existing infrastructure. The deal will be funded through CNX's secured credit facility, with minimal impact on leverage ratios. The company expects the acquisition to be immediately accretive to free cash flow per share.
CNX Resources (NYSE: CNX) has released its financial and operational results for the third quarter 2024. The company has made available its quarterly earnings results, prepared remarks, and supplemental information regarding E&P data, including production volumes, hedging information, financial statements, and non-GAAP reconciliations on its website. A Q&A conference call is scheduled for October 24 at 10:00 a.m. ET, with both domestic and international dial-in options available.
Arch Resources (NYSE: ARCH) and CONSOL Energy (NYSE: CEIX) have announced the expiration of the Hart-Scott-Rodino Act waiting period for their pending merger. This expiration, which occurred at 11:59 p.m. Eastern Time on October 11, 2024, marks a significant milestone in the merger process. The HSR Act waiting period expiration was a key condition for closing the combination. However, the transaction's completion still depends on meeting other customary closing conditions, including approval from both companies' stockholders. This development brings Arch and CONSOL one step closer to finalizing their merger, potentially creating a stronger entity in the energy sector.
CNX Resources (NYSE: CNX) has announced the schedule for its third quarter 2024 financial results and Q&A conference call. The company will release its financial results on Thursday, October 24, at 6:45 a.m. Eastern Time. This release will include links to prepared remarks, presentation materials, and supplemental information providing a Q3 2024 update, all of which will be available on CNX's Investor Relations website.
Following the release, CNX will host a Q&A conference call and webcast at 10:00 a.m. ET on the same day. Interested parties can dial in using the following numbers: 855-656-0928 (domestic) or 412-902-4112 (international), referencing 'CNX Resources Call'. The webcast will be available at investors.cnx.com. A replay of the Q&A conference call and webcast will be maintained on CNX's Investor Relations page for future access.
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