Fourth Quarter 2013 Earnings Presentation January 31, 2014 J. Brett Harvey, Chairman and CEO Nicholas J. DeIuliis, President David Khani, CFO James C. Grech, Chief Commercial Officer
Fourth Quarter 2013 Results Summary Pre-tax income for the fourth quarter was 16 million - Net income from continuing operations was 147 million as a result of an income tax benefit of 131 million - Income from discontinued…
Gas Division Summary Impact of gas hedging for Q4 2013 was 0.40/Mcf compared to 0.84/Mcf from the year-earlier quarter Q-to-Q Gas Division 4Q2013 4Q2012 Change Average Sales Price ( / Mcfe) 4.26 4.44 (0.18) Average Costs ( /…
Coal Division Summary Q-to-Q Coal Division 4Q2013 4Q2012 Change Average Sales Price ( / ton) 66.85 75.84 (9.00) Average Costs ( / ton) 50.05 49.19 0.86 Coal Production (millions of tons) 7.1 6.6 0.5 Sales Volumes (millions of…
CONSOL Energy Overview Net (Decrease) / Increase in Cash - in millions Goal is to maintain our strong liquidity position Q-to-Q Cash Flow Summary 4Q2013 4Q2012 Change Net Cash Provided by Operations (1) 70 198 (128) Capital…
Gas Operations: Capital Expenditure ( in millions) 1,200 1,110 1,000 953 800 600 528 400 200 0 2012 2013 2014E Land Capex Other Gas Capex 2014E Total Gas Capex Estimate Natural Gas Operations: ( in millions) 2014E Capex…
Gas Division Production Results and Forecast Gas and Liquids Production (Bcfe) CONSOL is rapidly growing its natural gas production Total 2013 natural gas production: 172.4 Bcfe Total 2014 natural gas production guidance: 215 235 Bcfe…
Strong Liquidity Position of 2.1 Billion Cash on hand of 327 million Accounts receivable securitization and revolving credit facilities of 1.8 billion Amount/ Amount Letters Amount December 31, 2013 ( in million) Capacity Drawn of…
Use of Cash Proceeds ( in millions) 1,000 900 850 8 (361 ) 800 700 600 (115 ) 500 (31 ) 400 (37 ) 327 300 200 100 13 0 Beginning Receipt from Tetrick Credit DTI Acres / Fees Other Ending Cash Cash Balance Murray Override…
Pre-Transaction vs. Post-Transaction Credit Metrics CONSOL Energy ( in millions) 12/31/2011 12/31/2012 12/31/2013 Cash and Cash Equivalents 376 22 327 Available Liquidity 2,733 2,351 2,081 Total Debt 3,198 3,188 3,175 Net Debt 2,822…
CNX Active Hedge Program Actively Monitored Hedge Program: 2013 Hedge Positions Production Coal Production Hedge + Priced Coal Recently increased hedge position for 2014 and 1,000,000 84% 62% 59% 74% 51% 90% will add incremental…
CONSOL Energy Overview Summary Gas and coal operations are long-lived, low-cost, and provide solid growth Our well-capitalized assets and highly trained personnel provide more consistent operational execution Our emphasis on safety…
Appendix 14
Appendix Drilling Results and Forecast Formation Region 2011 2012 2013 2014E Marcellus Shale: Southwest Pa. (incl NBL) 50 70 97 129 West Virginia 9 6 10 23 Central Pa. 19 13 10 9 Ohio 0 0 0 1(1) Total: 78 89 117 162 Utica Shale…
Appendix CONSOL Cost Metrics Gas: Operating Costs per Mcfe ( per Mcfe) 6 5 4 3 2 1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013 2Q2013 3Q2013 4Q2013 CBM Marcellus Shallow Oil & Gas Coal: Cost per Ton Sold…
Appendix CONSOL-Operated Wells: Marcellus Drilling and Completions Summary Drilling Summary 2011 2012 2013 Wells TD'd 78 64 46 Lateral Ft 300,466' 328,428' 366,615' Total MD 92,264' 794,098' 730,316' Average Lateral 3,853' 5,514'…
Appendix Marketing 1Q14 and 2014 Forecasts Sales Tons by Product Year 2014 2014 Coal Sales Facts and Goals Contracted tons for 2014: more than 82% - Priced: more than 78% 8% 14% Approximately 80% of the Low-Vol & High-Vol met coal…
Appendix BMX Mine Overview BMX Mine: Begin operations in mid-March 2014 - Lowest cost CNX mine 19
Appendix Our Domestic Coal Market Remains Solid PJM Coal Inventory Trailing 12 Months 5 Year Average 30 25 20 Tons (MM) 15 10 5 - Jan 13 Apr 13 Jul 13 Oct 13 Source: EIA, PIRA, and CONSOL analysis. 20
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