Welcome to our dedicated page for CNX Resources Corporation news (Ticker: CNX), a resource for investors and traders seeking the latest updates and insights on CNX Resources Corporation stock.
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 Corp. (NYSE: CNX) will release its Q3 2022 financial results on October 27, 2022, at 6:45 a.m. ET. Following the press release, a conference call will occur at 10:00 a.m. ET, allowing investors and analysts to gain insights into the company’s performance. CNX, known for its low carbon-intensive natural gas operations in Appalachia, reported 9.63 trillion cubic feet of proved gas reserves as of December 31, 2021. The call can be accessed via dial-in or webcast, with a replay available on the Investor Relations website.
CNX Resources Corporation (NYSE: CNX) announced the closing of a private placement of $500 million in senior notes with a 7.375% interest rate due in 2031. The proceeds will be utilized to buy back up to $350 million of its 7.25% senior notes due 2027 and to repay borrowings from its revolving credit facility. The notes are not registered under the Securities Act and are offered only to qualified institutional buyers. CNX operates mainly in the Appalachian basin, focusing on natural gas development and production.
CNX Resources Corporation (NYSE: CNX) has received tenders for $385,586,000 of its 7.25% Senior Notes due 2027 in a cash tender offer initially set to purchase up to $350 million. The offer was oversubscribed by the Early Tender Deadline on September 23, 2022, resulting in a prorated acceptance rate of approximately 90.8%. The offer expires on October 7, 2022. Citigroup Global Markets Inc. is acting as the Dealer Manager for this process. The company is focused on natural gas development in the Appalachian basin.
CNX Resources Corporation (NYSE: CNX) announced the pricing of $500 million in 7.375% senior notes due 2031, with a public offering price of 100% of face value. The offering's close is anticipated on September 26, 2022, subject to customary conditions. Proceeds will be used to repurchase up to $350 million of outstanding 7.250% senior notes due 2027 and to repay revolving credit facility borrowings. The notes have not been registered under the Securities Act and are offered only to qualified institutional buyers.
CNX Resources Corporation (NYSE: CNX) has initiated a cash tender offer to buy up to $350 million of its 7.250% Senior Notes due 2027, from an outstanding total of $700 million. The offer, effective from September 12, 2022, will close on October 7, 2022, unless extended. Holders who tender their notes by September 23, 2022, will receive an early payment of $30 per $1,000 in principal. The decision to accept tendered notes is dependent on various conditions, including the completion of a concurrent $500 million offering of senior notes due 2031.
CNX Resources Corporation (NYSE: CNX) announced a proposed offering of $500 million in senior notes due 2031. The proceeds will be used primarily to purchase up to $350 million of its existing senior notes due 2027 and to repay revolving credit facility borrowings. These notes will not be registered under the Securities Act and will be offered solely to qualified institutional buyers. The company operates primarily in the Appalachian basin.
CNX Resources Corporation (NYSE: CNX) released its second quarter 2022 financial and operational results today. The company reported that it has 9.63 trillion cubic feet equivalent of proved natural gas reserves as of December 31, 2021. For detailed earnings results, production volumes, and hedging information, stakeholders are encouraged to visit the company's Investor Relations page. The earnings conference call is set for July 28, 2022, at 10:00 a.m. ET, with a Q&A session to follow.
CNX Resources Corporation, in partnership with Dynamis Power Solutions, announced the launch of the Appalachian Basin's first electric-powered drilling system, utilizing on-site natural gas. This innovative system decreases emissions, optimizes fuel consumption, and eliminates diesel use on-site, leading to significant cost savings and environmental benefits. The technology is expected to be operational in Q2 2023, building on CNX's previous advancements in electric hydraulic fracturing. This initiative positions CNX as a leader in sustainable energy within the region.
Newlight Technologies and CNX Resources have entered a 15-year agreement to capture methane emissions for producing Aircarbon, a carbon-negative alternative to plastic. This partnership aims to gather waste methane from industrial activities, significantly reducing carbon emissions and plastic waste.
It is expected to enhance manufacturing capabilities in the Appalachian region while promoting economic growth, capital investment, and job creation. Newlight's Ohio facility will utilize methane from this agreement to advance sustainability and decarbonization efforts.
Newlight Technologies and CNX Resources have entered a 15-year agreement to harness methane emissions for producing Aircarbon®, a biodegradable, carbon-negative alternative to plastic. CNX will utilize its infrastructure to capture waste methane from industrial sources, supporting Newlight's production needs. This partnership aims to reduce carbon emissions and plastic pollution while promoting economic growth in the Appalachian region. Newlight is also developing a new manufacturing facility in Ohio, further leveraging methane from this collaboration.
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