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CNX Resources Talks 2024 Rigs, Frac Crews & Well Count
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As part of its 4Q 2023 results, CNX Resources provided some guidance on it's 2024 development plans. Here is what the company said. The program calls for 1 rig & 1 frac fleet to drill & complete 35 wells, which is not much of a difference between the 2023 plans. (see chart below).
Guidance Update
In 2024, we expect production volumes to be between 570 to 590 Bcfe, which, based on the midpoint, is in-line with the previously announced annual guidance of approximately 580 Bcfe. We expect to spend between $575 million to $625 million for total capital expenditures. This includes drilling and completion (D&C) capital for a core one rig drilling program, supplemented periodically with a spot rig and a top-hole rig, and a continuous all-electric frac crew during the year. It also includes…
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