CNX Resources Corp - Company Profile
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Business Description
CNX Resources Corp (CNX Resources) is an independent natural gas company. It explores, develops, produces, gathers, processes, and acquires natural gas properties in Appalachian basin covering Pennsylvania, West Virginia, and Ohio. The company operates through two reportable business segments, Shale, Coalbed Methane and Other. In FY2024, the company’s capital expenditure stood at US$540.3 million, which was 43.4% of the company’s total revenue and declined 20.5% YoY.
R&D Overview
CNX Resources has focused on monetizing environmental attributes, such as carbon credits and methane capture credits, as part of its R&D initiatives. The company has validated the premium pricing of low-carbon intensity waste methane capture blends in sectors like manufacturing, hydrogen production, and power generation. Additionally, CNX Resources is exploring other incentive pathways and establishing markets in AI data centers, transportation, aviation, voluntary market platforms, and government/regulatory platforms.
Business Segments
Overview
It holds rights to extract Coalbed Methane mainly in Illinois, Indiana, New York, Ohio, Pennsylvania and West Virginia. In FY2024, the segment incurred a capital expenditure of US$29.3 million, which declined 20.3% YoY.
Performance
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Overview
Extract natural gas from other shale and shallow oil and gas positions majorly in Illinois, Indiana, New York, Ohio, Pennsylvania, Virginia, and West Virginia. In FY2024, the segment incurred a capital expenditure of US$15.5 million, which grew 19.2% YoY.
Performance
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Overview
Includes natural gas properties mainly in the Appalachian Basin. Operations are centered on unconventional shale formations, primarily the Marcellus Shale and Utica Shale. Holds interest in coalbed methane play in Virginia. It also holds rights to extract natural gas from shale positions in West Virginia, Pennsylvania and Ohio. In FY2024, the segment incurred a capital expenditure of US$495.5 million, which declined 21.3% YoY.
Performance
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