Producer
CNX Resources
Pure-play Appalachian natural gas E&P. Produces ~1.5 Bcf/d from Marcellus and Utica shales. Revenue ~$1.7B (2024). ~85% of reserves are natural gas. Operates entirely in PA/WV/OH Appalachian core. Among the most constrained producers by Appalachian pipeline takeaway limits.
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Facilities
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Marcellus Shale Gas (PA/WV)
70%Utica Shale Gas (PA/OH/WV)
20%Midstream Operations
10%
Intelligence
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Origin2023
CNX Resources traces its origin to Consolidation Coal Company, founded in 1860 in Pennsylvania and operating for 160 years as one of the largest US coal mining companies. CONSOL Energy was the corporate successor, and the abbreviation 'CNX' reflects this heritage. When shale drilling proved the Marcellus and Utica formations beneath CONSOL's Pennsylvania coal mining territory could produce natural gas at large scale, CONSOL developed a significant gas business alongside coal. In 2017, CONSOL split into two publicly traded companies: CONSOL Energy (coal) and CNX Resources (gas). The split separated two natural resources from the same Appalachian geology -- coal from the same rock sequences that seal the shale gas formations below. CNX's gas wells in Pennsylvania produce from formations that sit below the same hills where CONSOL mines coal above. The company that traces its history to 1860 coal mining now produces natural gas marketed as cleaner than the coal from which it came.
CNX Resources Corporation ↗