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Q3 2020 Earnings Presentation – CNX Resources

CNX Resources · Oct 29, 2020 · 10 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. Q3 2020 Earnings Presentation – CNX Resources – slide 1
    Q3 2020 Update October 29, 2020
  2. Q3 2020 Earnings Presentation – CNX Resources – slide 2
    CNX Leads Peers on Key Financial and Inventory Metrics Enverus Third-Party Reported Inventory Life Under 2.50/MMBtu Q3/Q2 2020 Operating Expenses (/Mcfe)(1) (Years) 22 2.11 19 1.44 1.28 11 10 10 1.01 0.73 0.77 3 CNX RRC COG…
  3. Q3 2020 Earnings Presentation – CNX Resources – slide 3
    Enverus Third-Party Reported Inventory Life By Breakeven Inventory Life by Breakeven 50 45 Inventory Life at 2023 Activity Level (Years) CNX has the 40 deepest and 35 longest-lived 30 inventory under a 25 2.50 gas price, more…
  4. Q3 2020 Earnings Presentation – CNX Resources – slide 4
    Q3 2020 Highlights QUARTER SUMMARY: 3RD QUARTER SNAPSHOT(1) CNX continued to successfully execute its plan in the third quarter highlighted by 121MM 18% significant positive free cash flow, reduced absolute debt, and lower fully…
  5. Q3 2020 Earnings Presentation – CNX Resources – slide 5
    Significant Free Cash Flow Generation 600 Free Cash Flow (FCF)(1) 515 500 Currently 425 producing 400 79 350 significant FCF: in millions 271 million YTD, 300 121 271 79 and expect FCF to grow in future 200 years 21 129 271…
  6. Q3 2020 Earnings Presentation – CNX Resources – slide 6
    Free Cash Flow Improvements Steadily increased 2020E 2020E & 2021E Annual Free Cash Flow(1) Guidance Evolution and 2021E 900 annual FCF 800 guidance over 700 past 5 quarters 600 425 425 in millions 500 400 425 400 Expect to 250…
  7. Q3 2020 Earnings Presentation – CNX Resources – slide 7
    Low Costs Driving Strong Operating Margins 2020E-2026E Fully Burdened Costs(1) 1.29 1.20 1.17 1.04 1.02 0.29 0.45 0.27 0.91 0.23 0.20 0.07 /Mcfe 0.17 0.17 0.18 0.11 0.11 0.14 0.74 0.73 0.67 0.71 0.73 0.66…
  8. Q3 2020 Earnings Presentation – CNX Resources – slide 8
    Balance Sheet and Liquidity Strength Maturities as of September 30, 2020 (Adjusted)(1) ( in millions) In 2020, paid off all of the 895 million of Senior Notes due in 2022 Undrawn Revolver Capacity Significant runway before…
  9. Q3 2020 Earnings Presentation – CNX Resources – slide 9
    Guidance and Hedging Update PREVIOUS UPDATED PREVIOUS UPDATED In Q3 2020, CNX added the ( in millions) 2020E 2020E 2021E 2021E Capital Expenditures Low High Low High following hedges: Drilling & Completions (D&C) 330 - 380 365 - 375 -…
  10. Q3 2020 Earnings Presentation – CNX Resources – slide 10
    Key 2021 Financial Metrics Lead across Major Indices 18% 30% 2.0x FCF Yield(1) Operating Margin(1) Leverage Ratio(1) percentile S&P 1500 Index 93rd 88th 41st percentile S&P 1500 Industrials 96th 97th 27th percentile S&P 400 Mid…

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