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Disclosure Update 2019 Guidance Details – CNX Resources

CNX Resources · Feb 19, 2019 · 12 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Disclosure Update 2019 Guidance Details – CNX Resources – slide 1
    Disclosure Update 2019 Guidance Details February 19, 2019
  2. Disclosure Update 2019 Guidance Details – CNX Resources – slide 2
    FY2019 Minimum Activity by Quarter Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 FY 2020 TD FRAC TIL TD FRAC TIL TD FRAC TIL TD FRAC TIL TD FRAC TIL TD FRAC TIL Carryover Program 2019 Marcellus 10 13 18 12 11 10 5 15 13 6 6 13 33…
  3. Disclosure Update 2019 Guidance Details – CNX Resources – slide 3
    Expected Cadence of Daily Production for 2019 Minimum Program Expected Daily Production 2019E-2021E Based on 2019 Development Program Only Five-year average all-in maintenance capital (D&C + non-D&C): 300 million(1) 2019 1.6 Min.…
  4. Disclosure Update 2019 Guidance Details – CNX Resources – slide 4
    2019 Minimum Program Supports Production Equal to 30 Months Flat FY2018 pro forma daily Daily Production Example 2019E-2021E average production of 1.6 1.315 Bcfe/d held flat 1.4 1.2 Production adds from 2019 Production…
  5. Disclosure Update 2019 Guidance Details – CNX Resources – slide 5
    2019 Minimum Development Program and Capital Breakdown Average CPA Utica Shaw Pad CapEx(1) TILs Lateral Length The Shaw 1G well that experienced ( in issues in early 1Q 2019 has been 2019E 2020E 2019E 2020E 2019E 2020E millions)…
  6. Disclosure Update 2019 Guidance Details – CNX Resources – slide 6
    2019 AMT Credit and Additional Refunds December 31, 2018 2017 Combined AMT refund and additional tax refunds to Current Assets Cash and Cash Equivalents 17,198 509,167 drive cash tax inflow of 149 million in 2019 Accounts and Notes…
  7. Disclosure Update 2019 Guidance Details – CNX Resources – slide 7
    Reaffirmed 2019 Minimum Guidance 2019E Capital budget represents a minimum set of D&C activity Minimum Capital Expenditures Throughout the year, the company will evaluate a series Low High ( millions) of factors to determine…
  8. Disclosure Update 2019 Guidance Details – CNX Resources – slide 8
    Reaffirmed 2019 Minimum Guidance 2019E Revenue and Other Operating Income E&P Consolidated Production Volumes: Natural Gas (Bcf) 465-485 NGLs (MBbls) 4,500-4,600 Condensate (MBbls) 350-400 Total Production (Bcfe) 495-515 % Liquids 6%…
  9. Disclosure Update 2019 Guidance Details – CNX Resources – slide 9
    Financial Guidance: 2019E E&P Revenue Buildup 2019E Revenue Revenue Volumes Realized Price ( in millions) Natural Gas 475.0 Bcf 3.05 /Mcf 1,449 NGLs 4,550.0 MBbls 21.00 /Bbl 96 Condensate 375.0 MBbls 38.00 /Bbl 14 Realized…
  10. Disclosure Update 2019 Guidance Details – CNX Resources – slide 10
    Financial Guidance: 2019E Natural Gas Marketing Mix and Basis Volumes 2019E CY 2019 Market (000 MMBtu) Gas Sold (%) Basis Michcon Northeast Pipeline Projects DOM South 45,975 9% (0.38) 2019E Gas: 9% ETNG Cascade Creek TZ5 5,106 1%…
  11. Disclosure Update 2019 Guidance Details – CNX Resources – slide 11
    Q1 2019E Gas Hedging Gain/Loss Projections Q1 2019 CY2019 Hedged Volumes Hedged Forward Forecasted Gain/(Loss) (000 MMBtu) Price Market(1) (/MMBtu) ( in 000's) (/MMBtu) NYMEX 89,775 2.86 3.45 (0.60) (53,685) Basis: DOM South…
  12. Disclosure Update 2019 Guidance Details – CNX Resources – slide 12
    2019E Gas Hedging Gain/Loss Projections CY2019 CY2020 Hedged Volumes Hedged Forward Forecasted Gain/(Loss) (1) (000 MMBtu) Price Market (/MMBtu) ( in 000's) (/MMBtu) NYMEX 386,088 2.83 3.07 (0.23) (90,344) In addition to NYMEX and…

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