One-Page Deal Sheet
CNX Acquires Apex’s Appalachian Gas & Midstream Assets for $505MM
CNX Resources Apex Energy II Llc
Announced Date
December 05,2024
Effective Date
October 01,2024
Close Date
January 27,2025
Transaction Type
Asset
Enterprise Value (EV)($MM)
505
Asset/Basin:
["Appalachian Basin"]
TargetZones:
["Marcellus Shale",
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Northeast - Appalachia
Country
United States
State
Pennsylvania
County
Westmoreland
Play
Production Production
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Production ($/Mcfe/d)
Transaction Details: Require Private Equity Subscription
CNX Resources announced a $505 million acquisition of Apex Energy II’s a portfolio company of Carnelian Energy Capital Management upstream and midstream assets in the Appalachian Basin.
The deal includes 36,000 net acres in Westmoreland County, Pennsylvania—94% of which are held by production—with significant undeveloped Marcellus and Utica potential. Expected to close in Q1 2025, the acquisition delivers 180–190 MMcfe/d of 2025 production and $150–160 million in EBITDA, underpinned by low $0.16/Mcfe operating costs. CNX CEO Nick Deiuliis described it as a "rare opportunity" that underscores…
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| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Feb-02-2026 |
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| Jan-08-2026 |
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| Dec-08-2025 |
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| Dec-08-2025 |
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| May-30-2025 |
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| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
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