Cnx Resources Corporation · NYSE:CNX
Cnx Resources — Q4 2021 Earnings Presentation
8 slides from Cnx Resources's earnings presentation, Jan 27, 2022
Slide 1: Q4 2021 Update
Q4 2021 Update January 27, 2022
Slide 2: Q4 2021 Highlights
Q4 2021 Highlights “CNX executed yet another strong, clean quarter," commented Nick Deiuliis, president 4TH QUARTER SNAPSHOT(1) and CEO. “Since Q3 2020 we have allocated approximately 50% of our free cash flow to buy back $302 million(2) of shares, or 10% of the shares outstanding, at an average pri
Slide 3: Eight Consecutive Quarters of Generating Significant FCF
Eight Consecutive Quarters of Generating Significant FCF ~$600 $600 Free Cash Flow (FCF)(1) Eight $500 consecutive quarters of $400 CNX has generated $862 million in Free Cash generating $ in millions Flow since beginning of 7-year plan significant FCF, $300 used to return capital to shareholders an
Slide 4: Balance Sheet and Liquidity Strength
Balance Sheet and Liquidity Strength Significant liquidity under credit facilities – Combined borrowing Maturities as of December 31, 2021(1) base of ~$1.9 billion 2500 6% 4.9% 4.9% 5% 2000 Approximately $33 million of Undrawn Revolver balance sheet enhancing 4% Capacity $ in millions 1500 activitie
Slide 5: Balance Sheet and Hedge Book Drive Capacity to Retire Shares and Reduce Debt
Balance Sheet and Hedge Book Drive Capacity to Retire Shares and Reduce Debt 224.5 CNX has repurchased 23.6 million shares for 202.5(1) $302 million(1) since Q3 2020 CNX has reduced An additional ~$28MM net debt by $528 went to balance sheet enhancing transactions million since Q4 2019, which includ
Slide 6: First 2 Years of 7-Year Plan Have Exceeded Guidance
First 2 Years of 7-Year Plan Have Exceeded Guidance Updating FY 2022 guidance to meet recent year outperformance PRODUCTION FREE CASH FLOW (FCF)(1) (Bcfe) ($ in millions) $600 27% 7.3% $506 $500 590 590 19% $400 560 $356 0.2% 550 $300 510 511 2020 2021 2022E 2020 2021 2022E Avg. 2022-2026 2022 New A
Slide 7: 2022 Guidance
2022 Guidance 2022E ($ in millions) Low High Total Capital Expenditures $470 - $500 Production Volumes (Bcfe) 575 - 605 % Liquids ~7% - ~8% % of Natural Gas Hedged 86% Prices on Open Volumes(1) Natural Gas NYMEX ($/MMBtu) $3.79 Natural Gas Basis Differential ($/MMBtu) ($0.52) NGL Realized Price ($/B
Slide 8: Investor Contacts & Notices
Investor Contacts & Notices impact they may have on our customers; the impact of outbreaks of communicable diseases such as COVID-19 on business activity, our operations and national and global economic conditions, generally; conditions in the oil and gas industry, Investor Relations Contact includi