CNX Scaling Back Wet Gas Production, Charts Course Next 7 Yrs

CNX Resources released its first-quarter 2020 update yesterday, along with hosting a conference call with analysts. CEO Nick DeIuliis laid out a plan for the company for the next seven years. Silencing the naysaying critics who say shale companies are not profitable and some sort of Ponzi scheme, CNX says it is on track to make $300 million in free cash flow (i.e. profits) this year, $400 million next year, and then $500 million each year until 2026. CNX is a cash flow machine!

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