Earnings Results Fourth Quarter 2017 January 30, 2018
Executive Summary Q4 2017 EXPECTATION STRATEGIC INITIATIVE Completed spin-off of CoalCo in late-November; combined Two premier standalone entities in the energy industry CNX Resources Launch value of shares has increased 20% since…
CNX Midstream: Launch of a Premier Single-Sponsor MLP GP Transaction Overview CNX closed on acquisition of NBLs 50% interest in CONE Gathering NYSE: CNX LLC, the GP controlling entity of CONE Midstream Partners (CNNX) CONE Midstream…
Post-Spin Value Analysis: First Two Months CNX/CEIX Share Price Since Spin 25.00 25% Combined value of CNX & CEIX: 19.10(1) Last day of 20% CNX trading 20.00 CNX & CEIX before spin 15% +18% effective date: 16.16 10% 15.00 5%…
Q4 2017 Results Net Income and Adjusted EBITDA On a GAAP basis, Net Income from Continuing Operations of 282 million in the 2017 fourth quarter or 1.24 per diluted share; Adjusted Net Income from Continuing Operations of 222 million, or…
Marketing: Gas Hedges 0.0 Gas Volumes Hedged (Bcf) 350 300 9.8 250 200 16.1 374.9 18.3 91.0 150 263.2 100 182.2 148.2 50 62.4 0 Approximately 70% of total 2018E 2018 2019 2020 2021 2022 production volumes hedged(3) NYMEX…
Guidance Operations 2018E Adjusted EBITDA ( in millions) 2018E Production Volumes: Earnings Before Interest, Taxes and DD&A (EBITDA) 845-895 Natural Gas (Bcf) 475-505 Adjustments: NGLs (MBbls) 6,700-7,300 Unrealized (Gain) on Commodity…
Operations: Q4 2017 Results Summary Marcellus Shale costs were 2.32 per Mcfe in Q4 2017, an increase of 0.12 from 2.20 per Mcfe vs. Q4 2016, or a 5% impairment Y/Y Q/Q (Prices /Mcfe; Volumes Bcfe) 4Q 2017 4Q 2016 Change 4Q 2017 3Q…
Operations: Q4 2017 Activity and 2018 Development Plan Q4 2017 FY 2017 2018E Average Average Lateral Lateral TD Frac TIL Length(1) TD Frac TIL Length(1) TD Frac TIL Marcellus Southwest Pennsylvania 1 6 - 9 16 11 9,090 55 37 41 West…
2018 Activity: SWPA Marcellus Outperforming Type Curves Morris Production Legacy vs. Now 700 Average EUR/1,000 increased 77% from legacy Morris wells(1) 10000' Normalized Production 600 500 - Increased lateral length, increased…
Deep Dry Utica Update: Aikens 5J and 5M Aikens 5J Located in Westmoreland County, PA (CPA region); 35000 two wells offsetting successful Gaut 4IH well 30000 Average capital per well: approximately 15 million 25000 Rate, Mcf/d…
2018 Activity: Core Marcellus and Growing Utica Contribution 60 600 2018 Production by Formation CNX December 2017 monthly average exit rate of 1.39 Bcfe/d 50 500 - Reached peak of 1.44 Bcfe/d in early December 40 400 Expected…
Appendix 15
Appendix: Marketing Highlights and Liquids Realizations Marketing Highlights Natural Gas Liquids, Oil and Condensate Directly-marketed ethane volumes were 590,000 barrels in Q4 2017 liquids sold: 13.4 Bcfe Q4 and, on an equivalent…
Appendix: Gas Hedges Hedge Position (Outer ring = NYMEX; Inner ring = Basis) Physical Fixed Basis and Fixed Price Sales(1) Q1 2018 2018 2019 2020 2021 2022 Physical Fixed Basis Sales 2018 Volumes (Bcf) 22.6 89.6 89.2 49.6 36.9…
Appendix: Natural Gas Sales Market Mix MIDWEST TETCO M3 DOMINION SOUTH TCO POOL TETCO M2 Natural Gas Sales Market Mix 2018E Columbia (TCO) 10% TETCO (M2) 52% TETCO (M3) 6% Dominion (DTI) 9% East Tennessee 10% TETCO ELA…
Non-GAAP Reconciliation Three Months Three Months Three Months Three Months Twelve Months Ended Ended Ended Ended Ended March 31, June 30, September 30, December 31, December 31, ( in thousands) 2017 2017 2017 2017 2017 Net (Loss) / Net…
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