CNX Claims “Biggest, Baddest Sandbox in the Appalachian Region”

On Tuesday CNX Resources (formerly CONSOL Energy) held an investors day in Pittsburgh to disclose the company’s strategy for the next few years. CNX is one of the big players in the Marcellus/Utica. The company owns 531,000 net Marcellus acres and 652,000 net Utica acres, with some/much of that acreage the same (the Utica layer sits under the Marcellus layer). The company has only developed about 6% of its acreage so far. Not even on first base! CNX CEO Nicholas “Nick” DeIuliis had some big boasts at Tuesday’s event. DeIuliis said CNX’s stacked pay (layer over layer) acreage gives it a leg up and makes the company “a disruptor” in the region. He also said this, with respect to the company’s acreage position: “We’ve got the biggest, baddest sandbox in the Appalachian region.” Indeed! Below is a summary of the event, along with the PowerPoint presentation used at the event (loaded with great information)…

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