CNX 2Q Update: Production Down, Curtailments Gone by November

CNX Resources issued its 2Q20 update yesterday. The company reports a $146 million net loss. Production in 2Q20 was 114.5 Bcfe (billion cubic feet equivalent), down from 134.5 Bcfe in 2Q19 due to curtailments. Average daily production in 2Q was 1.26 Bcf/d (billion cubic feet per day), down from 1.35 Bcf/d a year earlier. The company shut-in some of its production due to COVID and low prices. They will restore all shut-in production by November.

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