CNX Resources

CNX Resources Corporation is a natural gas company based in Pittsburgh with operations in the Appalachian Basin, primarily in the Marcellus Shale and Utica Shale in Pennsylvania, Ohio and West Virginia. It also develops coalbed methane properties in Virginia. It also has extensive midstream operations. It is one of the largest producers of natural gas in the United States.

CNX Resources Corporation
TypePublic company
NYSE: CNX
S&P 400 component
IndustryNatural gas
Key people
Nicholas J. DeIuliis, CEO and President
Donald W. Rush, CFO
Chad A. Griffith, Chief operating officer
ProductsNatural gas
Production output
1.617 billion cubic feet of natural gas equivalent per day (2021)
Revenue $756 million (2021)
-$498 million (2021)
Total assets $8.100 billion (2021)
Total equity $3.700 billion (2021)
Number of employees
441 (2021)
Websitewww.cnx.com
Footnotes / references
[1]
CNX Resources Headquarters

History

The company traces its roots to Consolidation Coal Company, a coal mining company founded in 1860.[2] The company started extracting coalbed methane in 1988.[3] Dupont and Rheinbraun A.G. formed a joint venture in 1991.[4][2] In May 1999, the company became a public company via an initial public offering.[5]

In 2010, the company moved its headquarters to Cecil Township, Washington County, Pennsylvania.[6][7] The company also acquired the natural gas business of Dominion Resources in 2010, which increased its drilling properties and made it one of the largest natural gas production companies in the Marcellus Shale formation.[8][9]

In 2017, the company completed the corporate spin-off of Consol Energy and changed its name to CNX Resources Corporation.[10][11]

In January 2018, the company purchased a 50% interest in CONE Gathering LLC from Noble Energy.[12]

Awards and recognition

In 2020, CNX Resources was named to Newsweek's annual "America's Most Responsible Companies" list.[13][14]

See also

References
  1. "CNX Resources Corporation 2021 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "History of CONSOL Energy Inc". FundingUniverse.
  3. "Consol Energy Beefs Up CBM Reserves for PA, WV and VA Generators". Natural Gas Intel. August 10, 2001.
  4. "COMPANY NEWS; Du Pont Agrees to Sell Half of Coal Operation". The New York Times. Associated Press. November 28, 1991. ISSN 0362-4331.
  5. Guzzo, Maria (May 10, 1999). "Consol IPO brings less than expected". American City Business Journals.
  6. "Consol Energy Corporate Headquarters". U.S. Green Building Council.
  7. "Consol moving to Southpointe". Pittsburgh Post-Gazette. April 19, 2006.
  8. Maher, Kris; Casselman, Ben (March 16, 2010). "Coal Giant Consol Is Latest to Buy Gas". The Wall Street Journal. ISSN 0099-9660.
  9. "CONSOL Energy Closes on Deal To Acquire Dominion's Appalachian E&P Business for $3.475 Billion in Cash" (Press release). PR Newswire. April 30, 2010.
  10. Dezember, Ryan (November 29, 2017). "One of America's Oldest Energy Producers Splits in Two".
  11. "CNX Resources Corporation Completes Spin-Off of CONSOL Energy Inc" (Press release). PR Newswire. November 29, 2017.
  12. Federoff, Stacey (January 4, 2018). "CNX closes deal to acquire interest in Cone Midstream Partners". American City Business Journals.
  13. "Here are the 20 most responsible companies in Pennsylvania, according to Newsweek". The Patriot-News. December 8, 2020.
  14. "America's Most Responsible Companies 2021". Newsweek. November 24, 2020.
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