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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 Corporation (NYSE: CNX) reported total proved reserves of 9.63 trillion cubic feet equivalent (Tcfe) as of December 31, 2021. The company successfully added 907 billion cubic feet equivalent (Bcfe) through new discoveries, resulting in a replacement rate of over 153% of 2021's net production of 590 Bcfe. Proved developed reserves increased by 13.5% to 5.9 Tcfe. In 2021, total future development costs for proved reserves were estimated at $1,736 million. The pre-tax discounted present value of these reserves was $8.1 billion, reflecting significant growth from $3.6 billion in 2020.
CNX Resources Corporation (NYSE: CNX) reported its fourth quarter 2021 financial and operational results on January 27, 2022. Key details, including production volumes and financial statements, are available on its website. The company has a significant asset base with 9.55 trillion cubic feet equivalent of proved natural gas reserves as of December 31, 2020. CNX focuses on responsible resource development to create long-term per share value. Further information can be accessed through the CNX Investor Relations page.
CNX Resources Corp. (NYSE: CNX) announced the expansion of its Board of Directors and Executive Management Team on January 26, 2022. The new members, including Robert O. Agbede, Ravi Srivastava, and Hayley F. Scott, are expected to enhance leadership in environmental technologies, risk management, and value creation. This move aims to solidify CNX's long-term strategy and promote diversity, as four of the six direct reports to the CEO and two independent directors are now diverse. The leadership changes reflect a commitment to innovation and effective capital allocation.
CNX Resources Corp. (NYSE: CNX) is set to announce its Q4 2021 financial results on January 27, 2022, at 6:45 a.m. ET. Following the announcement, a conference call will occur at 10:00 a.m. ET, enabling investors to engage directly with the company's leadership. The results will include a brief press release and presentation materials available on the investor relations website. CNX operates within the natural gas sector, focusing on production and midstream services in the Appalachian region, with significant reserves of 9.55 trillion cubic feet as of December 31, 2020.
CNX Resources Corporation (NYSE: CNX) reported its third quarter 2021 financial results, available for review on its website. The company highlighted its operational performance in natural gas development and production within the Appalachian basin. The detailed earnings conference call is scheduled for October 28, 2021, at 10:00 a.m. ET, with dial-in and webcast options provided. As of December 31, 2020, CNX had substantial natural gas reserves, emphasizing its commitment to long-term shareholder value through responsible resource development.
CNX Resources Corp. (NYSE: CNX) will release its Q3 2021 financial results on October 28, 2021, at 6:45 a.m. ET. A press release with presentation materials will be available on its Investor Relations website. Following this, a conference call is scheduled for 10:00 a.m. ET. Investors can join via dial-in or webcast. The company, a leader in natural gas development, boasts significant assets, including 9.55 trillion cubic feet of proved natural gas reserves as of December 31, 2020. More details can be found on their official website.
CNX Midstream Partners LP has successfully completed its cash tender offer for outstanding 6.500% senior notes due 2026. As of the expiration on September 21, 2021, $157,677,000 worth of notes were validly tendered and accepted for payment on September 22, 2021. Remaining notes will be accepted for payment on September 24, 2021. Additionally, the company plans to redeem any notes not purchased in the tender offer on October 15, 2021, pending the completion of a previously announced notes offering of 4.750% senior notes due 2030.
CNX Midstream Partners LP has priced $400 million of 4.750% senior notes due 2030 at an issue price of 100% in a private offering. The offering is set to close on September 22, 2021. Proceeds will be used to purchase $400 million of its 6.500% senior notes due 2026 through a concurrent tender offer. These notes will not be registered under the Securities Act and are offered to qualified institutional buyers. The company operates midstream energy assets servicing natural gas production in the Appalachian Basin.
CNX Midstream Partners LP, a subsidiary of CNX Resources, launched a cash tender offer for its outstanding 6.500% Senior Notes due 2026, totaling $400 million, at a purchase price of $1,051.70 per $1,000 of notes. The offer expires on September 21, 2021, and holders will receive accrued interest. The offer's execution is contingent upon the successful completion of a contemporaneous notes offering. Wells Fargo Securities is the Dealer Manager. This release is informational and does not constitute a securities offer.
CNX Midstream Partners LP has announced a private offering of $400 million in senior notes due 2030. The notes will be guaranteed by all domestic restricted subsidiaries and the proceeds are intended to fund a concurrent tender offer to purchase its outstanding 6.500% senior notes due 2026. The offering is aimed at qualified institutional buyers and will not be registered under the Securities Act. This strategic move aims to optimize CNX Midstream's financial structure in light of future growth opportunities in the Appalachian Basin.
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