CNX Drilled Just 3 New Wells in 3Q – Shifts Focus to Utica

Last week, CNX Resources issued its third quarter 2024 update. The company made $65.5 million in profit for the quarter, compared with a profit of $21.3 million in 3Q23 (more than doubling net income). Production was 134.5 Bcfe (billion cubic feet equivalent) in 3Q24 — which works out to 1.46 Bcfe/d — down from 143.4 Bcfe last year (a drop of 6%). Drilling all but stopped during 3Q. The company drilled just three new wells, all of them in the Utica in central PA.

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