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CNX Resources Corporation reports recurring developments tied to Appalachian natural gas development, production, midstream activity, and energy technology. The company is centered in Appalachia and operates around unconventional shale formations, including the Marcellus Shale and Utica Shale, with coalbed methane properties in Virginia. News commonly includes quarterly financial and operational results, production activity, hedging information, cash flow commentary, and supplemental E&P data.
Company updates also cover capital allocation and balance-sheet actions, including senior notes offerings, debt tender offers, revolving credit facility references, and common stock repurchase authorizations. Governance and shareholder-meeting items appear alongside operating updates for CNX's shale and coalbed methane business lines.
CNX Resources Corp. (NYSE: CNX) will announce its Q3 2020 financial results on October 29 at 6:45 a.m. ET. The announcement will be accompanied by a press release that includes links to presentation materials available on their Investor Relations website. A conference call is scheduled for 10:00 a.m. ET on the same day, with dial-in options provided.
CNX is a major player in natural gas exploration and production, focusing on organic growth and holds 8.4 trillion cubic feet of proved natural gas reserves.
On October 5, 2020, CNX Resources Corporation (NYSE: CNX) announced an updated investor presentation and video featuring CEO Nick DeIuliis and CFO Don Rush. The presentation highlights the company's strategic focus on organic growth within the Appalachian basin and its substantial natural gas reserves, totaling 8.4 trillion cubic feet as of December 31, 2019. CNX aims to effectively manage its capital markets communication post-merger with CNX Midstream Partners. For more information, the video and presentation can be accessed through the provided links.
CNX Resources Corporation has completed the acquisition of all outstanding common units of CNX Midstream Partners LP, suspending the latter's trading on the NYSE. This strategic move consolidates CNX's position in the natural gas sector, enhancing its operational capabilities in the Appalachian Basin where it holds 8.4 trillion cubic feet of proved natural gas reserves. The merger is expected to yield cost savings and benefits, although potential risks exist, including economic conditions and integration challenges.
CNX Resources Corporation (NYSE: CNX) announced the successful closing of its private placement of $200 million in 7.250% senior notes due 2027. Offered at 103.5% of par, these notes yield 6.34% and will be combined with previously issued notes under a 2019 indenture. Proceeds will be used to redeem existing 5.875% senior notes due 2022, thus eliminating near-term maturities before 2026. The new notes are unregistered and will be offered only to qualified institutional buyers.
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.