CNX Resources (CNX) Cuts 2024 Production & Capital Investment [Yahoo! Finance]
CNX Resources Corporation (CNX)
Last cnx resources corporation earnings: 4/27 06:45 am
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Source: Yahoo! Finance
The strategic move of the company will allow it from pushing incremental natural gas volumes into the current oversupplied market. Reduction in Annual Guidance CNX Resources now expects its 2024 annual production volumes in the range of 540-560 billion cubic feet equivalent (Bcfe), down from the previous expectation of 570-590 Bcfe. The company has decided to delay completion activities on three upcoming Marcellus Shale pads consisting of 11 wells, which will account from the drop in production volumes. Despite the planned delay to bring wells online, CNX has the flexibility to achieve its previously stated long term production volume target of nearly 580 Bcfe in 2025. CNX Resources now expects its 2024 capital expenditure in the band of $525-$575 million, down from the prior expectation in the range of $575-$625 million. Despite a recent drop in natural gas prices, CNX Resources remains well-poised to navigate through price fluctuation as a low-cost producer in Appalachia w
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CNX
Earnings
- 4/26/24 - Miss
CNX
Sec Filings
- 4/25/24 - Form 10-Q
- 4/25/24 - Form 8-K
- 4/8/24 - Form DEFA14A
- CNX's page on the SEC website