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CNX Resources Corp (CNX)

CNX on New York Consolidated

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16 Feb 2018
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Latest Key Developments (Source: Significant Developments)

Diversified Gas & Oil Buys Some Assets of CNX and Alliance for $180 Mln
Monday, 12 Feb 2018 11:07am EST 

Feb 12 (Reuters) - Diversified Gas & Oil Plc ::DIVERSIFIED GAS & OIL ACQUISITIONS TO INCREASE PRODUCTION BY NEARLY 175 PERCENT.DIVERSIFIED GAS & OIL - ENTERED CONDITIONAL PURCHASE & SALE AGREEMENTS FOR ACQUISITIONS OF ALLIANCE PETROLEUM & APPALACHIAN ASSETS OF CNX RESOURCES.DIVERSIFIED GAS & OIL PLC - DEAL FOR COMBINED PURCHASE PRICE OF $180 MILLION.DIVERSIFIED GAS & OIL PLC - INTENDS TO FUND CASH PURCHASE PRICE WITH CURRENT CASH BALANCE, NET PROCEEDS OF RECENTLY COMPLETED EQUITY OFFERING.DIVERSIFIED GAS & OIL PLC - WOULD ASSUME OPERATIONS OF CNX'S CONVENTIONAL NATURAL GAS ASSETS WITH PRODUCTION OF 54,000 MCFE/D OR 9,000 BOE/D.DIVERSIFIED GAS & OIL PLC - PROPOSED DEAL WILL INCREASE CO'S TOTAL PROVED DEVELOPED PRODUCING RESERVES TO 173 MILLION BOE.  Full Article

CNX Announces 21 Pct Increase In Proved Reserves To 7.6 Tcfe
Wednesday, 7 Feb 2018 06:45am EST 

Feb 7 (Reuters) - Cnx Resources Corp ::CNX ANNOUNCES 21% INCREASE IN PROVED RESERVES TO 7.6 TCFE.CNX RESOURCES CORP - FUTURE DEVELOPMENT COSTS FOR PROVED UNDEVELOPED RESERVES ARE ESTIMATED TO BE ABOUT $1.283 BILLION, OR $0.40 PER MCFE.CNX RESOURCES CORP - TOTAL PROVED RESERVES IS 7.6 TCFE AS OF DECEMBER 31, 2017, WHICH IS A 21% INCREASE, COMPARED TO PREVIOUS YEAR.  Full Article

CNX Resources Posts Fourth Quarter Production Of 118.9 Bcfe
Tuesday, 30 Jan 2018 06:45am EST 

Jan 30 (Reuters) - Cnx Resources Corp ::CNX REPORTS FOURTH QUARTER RESULTS; RECORD QUARTERLY PRODUCTION OF 118.9 BCFE; TOTAL PRODUCTION COSTS FALL TO $2.17 PER MCFE; REPURCHASES $103 MILLION OF COMMON STOCK TO DATE.Q4 EARNINGS PER SHARE $1.24 FROM CONTINUING OPERATIONS.Q4 EARNINGS PER SHARE VIEW $0.01 -- THOMSON REUTERS I/B/E/S.Q4 ADJUSTED EARNINGS PER SHARE $0.98 FROM CONTINUING OPERATIONS.DURING Q4 OF 2017, CNX SOLD 118.9 BCFE OF NATURAL GAS, OR AN INCREASE OF 17% FROM 101.3 BCFE SOLD IN YEAR-EARLIER QUARTER.QTRLY TOTAL REVENUE AND OTHER OPERATING INCOME $476.95 MILLION VERSUS $74 MILLION LAST YEAR.CONTINUES TO EXPECT 2018 PRODUCTION VOLUMES OF 520-550 BCFE.CNX PLANS TO RUN THREE RIGS THROUGH FIRST HALF OF 2018 AND ADD A FOURTH RIG STARTING IN JULY.DURING QUARTER, CNX RECEIVED A FEDERAL TAX REFUND FOR TAX YEARS 2010-2014 OF $97 MILLION.CNX RE-AFFIRMS 2018 CAPITAL EXPENDITURE FORECAST OF $790 MILLION-$880 MILLION.CNX RESOURCES -$97 MILLION TAX REFUND IN Q4 RESULT OF PRIVATE LETTER RULING REQUEST FILED WITH IRS TO REQUEST ABILITY TO CLAIM UNELECTED BONUS DEPRECATION.  Full Article

CNX Resources Announces 2018 Capital Budget Of $790-$880 Mln
Tuesday, 9 Jan 2018 06:45am EST 

Jan 9 (Reuters) - Cnx Resources Corp ::CNX RESOURCES CORPORATION ANNOUNCES 2018 CAPITAL BUDGET OF $790-$880 MILLION AND OPERATIONAL FORECAST; 35-DAYS OF DATA FOR THE AIKENS 5J AND 5M DRY UTICA WELLS.CNX RESOURCES CORP - ‍CNX IS MAINTAINING ITS 2018 EXPECTED PRODUCTION VOLUMES OF 520-550 BCFE​.CNX RESOURCES CORP - ‍CNX EXPECTS MIDSTREAM CAPITAL IN 2018 TO BE APPROXIMATELY $100 MILLION​.CNX RESOURCES CORP - CNX PLANS TO RUN THREE RIGS THROUGH FIRST HALF OF 2018 AND WILL ADD A FOURTH RIG STARTING IN JULY.CNX RESOURCES - ‍BASED ON CURRENT NYMEX NATURAL GAS PRICES, AS OF JAN 3, 2018, EXPECTS ADJUSTED 2018 EBITDA ATTRIBUTABLE TO CNX OF $845 MILLION-$895 MILLION​.CNX RESOURCES - EXPECTS TO CONTINUE PREVIOUSLY ANNOUNCED SHARE BUYBACK PROGRAM, OF WHICH CO HAS BOUGHT BACK ABOUT $100 MILLION TO-DATE.  Full Article

Noble Energy Divests Interest in General Partner of Cone Midstream to CNX Resources
Friday, 15 Dec 2017 06:45am EST 

Dec 15 (Reuters) - Noble Energy Inc ::NOBLE ENERGY DIVESTS ITS INTEREST IN THE GENERAL PARTNER OF CONE MIDSTREAM TO CNX RESOURCES.NOBLE ENERGY INC- DEAL FOR $305 MILLION.NOBLE ENERGY INC - ‍COMPANY HAS TERMINATED ITS PRIOR AGREEMENT TO DIVEST ITS ENTIRE MARCELLUS MIDSTREAM HOLDINGS TO WHEELING CREEK MIDSTREAM​.NOBLE ENERGY - CO IS RETAINING ITS 21.7 MILLION COMMON LIMITED PARTNER UNITS AND PLANS TO MAXIMIZE VALUE THROUGH DIVESTMENT OF UNITS OVER NEXT FEW YEARS.NOBLE ENERGY INC- SIGNED A DEFINITIVE AGREEMENT WITH CNX RESOURCES TO DIVEST CO'S 50 PERCENT INTEREST IN CONE GATHERING LLC.  Full Article

CNX Resources Says Entered Into Amendment No. 4 With Certain Lenders, Others
Friday, 1 Dec 2017 06:25am EST 

Dec 1 (Reuters) - CNX Resources Corp ::CNX RESOURCES CORP - ENTERED INTO AMENDMENT NO. 4, DATED AS OF NOVEMBER 27, 2017 WITH CERTAIN LENDERS, OTHERS - SEC FILING.CNX RESOURCES CORP - AMENDMENT AMENDS AMENDED AND RESTATED CREDIT AGREEMENT, DATED AS OF JUNE 18, 2014.CNX RESOURCES- AMENDMENT AMENDS AGREEMENT TO ALLOW SPINOFF OF COAL ASSETS OF CO AS CONTEMPLATED BY FORM 10 OF CONSOL MINING FILED WITH U.S. SEC.CNX RESOURCES CORP - AMENDMENT ALSO REDUCES MAXIMUM FACILITY AMOUNT UNDER CREDIT AGREEMENT FROM $2.5 BILLION TO $2.0 BILLION.CNX RESOURCES CORP - AMENDMENT ALSO REDUCES LETTER OF CREDIT SUBLIMIT AVAILABLE TO COMPANY, AND CAPS REVOLVING CREDIT COMMITMENTS AT $1.5 BILLION.  Full Article

Consol Energy - Q3 loss per share $0.11
Tuesday, 31 Oct 2017 06:45am EDT 

Oct 31 (Reuters) - Consol Energy Inc :Consol Energy reports third quarter results; Utica Shale production increased by 45% quarter-over-quarter; E&P division operating costs were lowered to $2.26 per Mcfe; closed on asset sales totaling $427 million year-to-date.Q3 loss per share $0.11.Q3 earnings per share view $0.02 -- Thomson Reuters I/B/E/S.Consol Energy Inc - qtrly adjusted loss per share ‍$0.15​.Consol Energy Inc - qtrly total revenue and other income $‍671​.3 million versus $745.6 million last year.Consol Energy Inc - ‍maintains its E&P division production guidance for 2017 of approximately 405-415 Bcfe​.Consol Energy Inc - ‍maintains its total E&P capital expenditures guidance in 2017 of about $620 million -$645 million​.Consol Energy Inc - qtrly ‍total dilutive loss per share​ $0.11.Consol Energy Inc - ‍during Q3, Consol's E&P division sold 101.0 Bcfe, or an increase of 5% from 96.4 Bcfe sold in year-earlier quarter​.Q3 revenue view $626.2 million -- Thomson Reuters I/B/E/S.Consol Energy Inc - ‍total hedged natural gas production for E&P division in 2017 Q4 is 83.1 Bcf​.Consol Energy Inc - qtrly coal production 6.1 million tons versus 6.2 million tons‍​.Consol Energy Inc - sees ‍2018 production guidance of 520-550 Bcfe​.  Full Article

Consol Mining Corp announces pricing of $300 mln of senior secured second lien notes
Tuesday, 31 Oct 2017 06:30am EDT 

Oct 31 (Reuters) - Consol Energy Inc :Consol Mining Corporation announces pricing of $300 million of senior secured second lien notes.Consol Energy Inc - ‍pricing of $300 million of its 11.00 pct senior secured second lien notes due 2025​.Consol Energy - ‍pricing of $300 million of 11.00 pct senior secured second lien notes due 2025 at price of 100 pct of their face value in a private offering​.  Full Article

Consol Energy board of directors gives final approval to separation of the coal and E&P businesses
Tuesday, 31 Oct 2017 06:30am EDT 

Oct 31 (Reuters) - Consol Energy Inc :Consol Energy board of directors gives final approval to separation of the coal and E&P businesses; board authorizes increase to share repurchase program.Consol Energy Inc - ‍board approved an increase in aggregate amount of repurchase plan to $450 million​.Consol Energy - stockholders to get one share of common stock of Coalco for every 8 shares of Consol stock held as of close of business on Nov. 15​.Consol Energy Inc - ‍in connection with distribution, Consol Energy will change its name to CNX Resources Corporation​.Consol Energy Inc - ‍Consol Energy will retain its ticker symbol "CNX" on New York Stock Exchange​.Consol Energy - ‍Consol Mining Corporation to change name to Consol Energy Inc, and stock will trade on NYSE under ticker symbol "CEIX"​.Consol Energy Inc - ‍CNX Coal Resources LP will change its name to Consol Coal Resources LP​.Consol Energy - ‍CNX Coal Resources to change NYSE ticker symbol to "CCR" from "CNXC", and common units will continue to be listed on NYSE​.  Full Article

CNX Coal Resources qtrly ‍coal sales up 5 pct to 1.6 mln tons​
Monday, 30 Oct 2017 04:10pm EDT 

Oct 30 (Reuters) - Cnx Coal Resources LP : :CNX Coal Resources LP announces results for the third quarter 2017.CNX Coal Resources LP qtrly ‍coal sales improve 5% to 1.6 million tons​.CNX Coal Resources LP sees 2017 coal sales of 6.50-6.75 million tons​.CNX Coal Resources LP qtrly ‍total coal revenue $69.8 million versus $66.9 million​.CNX Coal Resources LP sees 2017 adjusted EBITDA of $95-$102 million​.CNX Coal Resources LP - ‍demand and pricing for co's export coal continued to strengthen throughout Q3 and into october​.CNX Coal Resources LP - ‍"reviewing various cost reduction measures to offset soft Q3 results​".CNX Coal Resources LP - ‍reducing planned capital spending for remainder of year, adjusting guidance ranges to reflect soft Q3 results​.  Full Article

BRIEF-Diversified Gas & Oil Buys Some Assets of CNX and Alliance for $180 Mln

* DIVERSIFIED GAS & OIL ACQUISITIONS TO INCREASE PRODUCTION BY NEARLY 175 PERCENT