Welcome to our dedicated page for Cnx Res news (Ticker: CNX), a resource for investors and traders seeking the latest updates and insights on Cnx Res stock.
CNX Resources Corporation (NYSE: CNX) is a leading Appalachian Basin natural gas producer combining energy development with sustainable innovation. This page aggregates official announcements, financial disclosures, and operational updates directly from CNX and verified sources.
Investors and industry observers will find timely updates on earnings reports, strategic acquisitions, and technological advancements like methane capture systems. The collection emphasizes CNX's commitment to low-carbon operations through initiatives such as its Radical Transparency™ environmental monitoring program.
Key content categories include quarterly financial results, infrastructure developments, sustainability progress reports, and leadership updates. All materials maintain factual accuracy while avoiding speculative analysis, serving both casual observers and professional analysts.
Bookmark this page for streamlined access to CNX's evolving story in the energy sector, from shale production milestones to community engagement efforts. Check regularly for the latest verified information supporting informed decision-making.
CNX Resources Corporation (NYSE: CNX) announced the pricing of $200.0 million in 7.250% senior notes due 2027 at a price of 103.5% of par and an effective yield of 6.34%. This offering, expected to close on September 22, 2020, follows a previously issued $500.0 million of identical notes. The company estimates net proceeds of about $204.0 million to redeem all outstanding 5.875% senior notes due 2022, thereby eliminating senior note maturities before 2026. The notes will be offered to qualified institutional buyers only.
CNX Resources Corporation (NYSE: CNX) announced a conditional notice to redeem all outstanding 5.875% Senior Notes due 2022 on or around October 8, 2020, contingent on issuing $200.0 million of 7.250% Senior Notes due 2027. The redemption price will be 100% of the principal plus accrued interest. After this redemption, CNX will have no senior note maturities until 2026. As of December 31, 2019, CNX possessed 8.4 trillion cubic feet of proved natural gas reserves.
CNX Resources Corporation (NYSE: CNX) announced its intention to offer $200 million in aggregate principal amount of 7.250% senior notes due 2027. These New Notes will be additional notes under a prior indenture, which had an initial issuance of $500 million of similar notes. The net proceeds will be used to redeem all outstanding 5.875% senior notes due 2022, thereby eliminating any senior note maturities before 2026. The offering is expected to close subject to market conditions.
On Sept. 8, 2020, CNX Resources Corporation (NYSE: CNX) announced significant updates regarding its financial performance and initiatives focused on enhancing shareholder value. The company increased its 2020 free cash flow (FCF) guidance from $300 million to approximately $350 million. In August, CNX received $104 million in federal tax refunds, which will be used to reduce its debt substantially from $895 million at year-end 2019 to about $250 million. CNX expects EBITDAX to exceed prior guidance, while capital expenditures will remain near previous estimates.
Rising Phoenix Royalties (RPR) has announced a 100% natural gas mineral acquisition in Washington County, PA, marking its second transaction in the Appalachian Basin in 2020. CNX Resources Corporation operates the acquired royalty interest, which is part of its expansive operations in natural gas, holding 8.43 trillion cubic feet equivalents of reserves. Additionally, RPR has launched Rising Fund IV for investors seeking alternative asset diversification, building on previous successful offerings.
On August 5, 2020, CNX Resources Corporation (NYSE: CNX) released its annual Corporate Responsibility Report, showcasing its performance against the Global Reporting Initiative (GRI) Core Option. The report emphasizes the company's commitment to environmental, social, and governance (ESG) goals, highlighting a 2019 Employee Total Recordable Incident Rate of zero, compared to the industry average of 0.8. Key initiatives include advanced electric frac technologies that enhance operational efficiency while reducing emissions. CNX celebrates its community contributions, receiving the Corporate Citizen Award from the Pittsburgh Business Times.
CNX Resources Corporation reported a net loss of $146 million for Q2 2020, translating to a loss of $0.78 per diluted share. The adjusted net income was $24 million, while adjusted EBITDAX was $212 million. Capital expenditures amounted to $135 million, with operating cash flow of $144 million. The company generated free cash flow of $21 million, primarily from monetizing natural gas hedges for $29 million. A merger agreement to acquire CNX Midstream Partners for $357 million in stock was also announced, with expectations of over $3 billion in cumulative free cash flow by 2026.
CNX Midstream Partners LP (NYSE: CNXM) reported its financial results for Q2 and the first half of 2020, highlighting a decline in net income to $32.6 million from $46.7 million year-over-year. Adjusted EBITDA fell to $49.7 million from $59.3 million, while distributable cash flow decreased to $37.1 million from $46.9 million. The distribution coverage ratio dropped significantly to 0.83x. Additionally, CNX Resources announced a take-private transaction to acquire all outstanding CNXM units for approximately $357 million.
CNX Resources Corporation (NYSE: CNX) has reached a merger agreement to acquire CNX Midstream Partners LP (NYSE: CNXM) for approximately $357 million in CNX common stock. Each common unit of CNX Midstream will be exchanged for 0.88 shares of CNX common stock, representing a 15% premium to the average exchange ratio. The merger is anticipated to enhance liquidity, operational flexibility, and financial metrics, making CNX the lowest cost producer in the Appalachian Basin. The transaction is expected to close in Q4 2020, subject to customary approvals.
CNX Resources Corp. (NYSE: CNX) and CNX Midstream Partners LP (NYSE: CNXM) will release their Q2 2020 earnings on July 30 at 6:45 a.m. ET. This will be followed by conference calls: CNX at 10:00 a.m. and CNXM at 11:00 a.m. ET. The calls will be accessible via dial-in or webcasts, with materials available on their respective Investor Relations pages. CNX holds 8.4 trillion cubic feet of proved natural gas reserves as of Dec 31, 2019, operating primarily in the Appalachian basin.
