CNX Proved Reserves Up 7%, More Color on 2019 Drilling Numbers

Nearly two weeks ago CNX Resources issued its fourth quarter and full-year 2019 update (see CNX Reports $271M Loss in 4Q19; Cutting Back on 2020 Drilling). Yesterday CNX issued a followup, further outlining details about their 2019 drilling program (41 Marcellus and 10 Utica wells), along with an update on the company’s proved reserves. CNX reports total proved reserves of 8.43 Tcfe (trillion cubic feet equivalent) as of December 31, 2019, a 7% increase over Dec. 2018.

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