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Q4 2020 Update – CNX Resources

CNX Resources · Jan 28, 2021 · 9 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. Q4 2020 Update – CNX Resources – slide 1
    Q4 2020 Update January 28, 2021
  2. Q4 2020 Update – CNX Resources – slide 2
    Q4 2020 Highlights CNX continued to successfully execute its plan by delivering another quarter of 4TH QUARTER SNAPSHOT(1) positive free cash flow, reducing absolute debt, reducing share count at attractive pricing, and lowering fully…
  3. Q4 2020 Update – CNX Resources – slide 3
    CNX Leads Peers on Key Metrics Net Shale Acres(1) Q4/Q3 2020 Production Cash Costs (/Mcfe)(2)(3) Current Production (MMcfe/d) 2,000 1,819 5,000 Net Shale Acres (in 000s) 1,800 4,500 2.03 1,600 4,000 1,400 3,500 1,134 1.46…
  4. Q4 2020 Update – CNX Resources – slide 4
    Low Costs Driving Strong Operating Margins Fully Burdened Costs(1) 1.29 1.20 1.17 1.05 1.01 0.29 0.45 0.27 Fully burdened 0.18 0.23 costs expected /Mcfe 0.17 0.17 0.18 0.21 0.11 to further decline in long-term plan…
  5. Q4 2020 Update – CNX Resources – slide 5
    Significant Free Cash Flow Generation Free Cash Flow (FCF)(1) 450 425 400 85 356 Consistently 350 producing significant FCF: 300 121 43MM in share buybacks 356 million in in millions 250 2020, and expect FCF to grow in 200…
  6. Q4 2020 Update – CNX Resources – slide 6
    Opex is the Biggest Controllable Driver to Well Economics Incremental IRR Sensitivities(1) (12k' SWPA Marcellus Well) Operating expense (Opex) and realized natural gas prices have the largest impact on economics Opex (+/- 0.50/Mcf)…
  7. Q4 2020 Update – CNX Resources – slide 7
    Balance Sheet and Liquidity Strength Closed on 500 million Senior Notes Offering to create further Maturities as of December 31, 2020 (Adjusted)(1) ( in millions) financial flexibility Net debt reduced by over 300 Undrawn Revolver…
  8. Q4 2020 Update – CNX Resources – slide 8
    Guidance Update PREVIOUS UPDATED 2021E 2021E ( in millions) Low High Low High Total Capital Expenditures 440 430 - 470 Production Volumes (Bcfe) 550 540 - 570 % of Natural Gas Hedged 89% 90% Prices on Open Volumes(1) Natural…
  9. Q4 2020 Update – CNX Resources – slide 9
    Key 2021 Financial Metrics Lead Across Major Indices 15% 30 % 2.0x FCF Yield(1) Operating Margin(1) Leverage Ratio(1) percentile S&P 1500 Index 95th 72nd 59th percentile S&P 1500 Industrials 97th 92nd 72nd percentile S&P 400…

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