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CNX Resources Corporation (CNX-0.34%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total sales volumes of 550.8 Bcfe for the year, with a breakdown of 511.4 Bcfe from shale, 39.1 Bcfe from coalbed methane, and 0.3 Bcfe from other gas sources.
CNX's total revenue and other operating income for 2024 was $1,267 million, a decrease from $3,435 million in 2023, primarily due to a significant decrease in the gain on commodity derivative instruments.
The company reported a net loss of $90 million for 2024, compared to a net income of $1,721 million in 2023. The loss was largely attributed to an unrealized loss on commodity derivative instruments of $453 million.
CNX's capital expenditures for 2024 amounted to $540 million, with expectations for 2025 capital expenditures to range between $450 million and $500 million.
The company completed the acquisition of Apex Energy II, LLC's natural gas upstream and associated midstream business for approximately $505 million in January 2025.
CNX expects its 2025 annual sales volumes to be between 605 and 620 Bcfe.
The company has hedged approximately 478.9 Bcf of its estimated 2025 production at an average price of $2.58 per Mcf.
CNX's total long-term debt as of December 31, 2024, was $2,175 million, with a maturity schedule extending through 2032.
The company continues to focus on its operations in the Appalachian Basin, with significant holdings in the Marcellus and Utica Shale formations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CNX Resources Corporation annual 10-K report dated February 11, 2025. To report an error, please email earnings@qz.com.