
CNX Resources announced in December that it had struck a deal to buy the assets of Apex Energy II, LLC, a portfolio company of funds managed by Carnelian Energy Capital Management, for $505 million (see
CNX Resources Buys Apex Energy for $505M, Adds Pa. M-U Assets). Apex owns wells, acreage, and pipelines in Westmoreland County, PA. Its assets are close to (in some cases adjacent to) CNX’s considerable regional holdings. The deal is expected to close in the first quarter of 2025. However, CNX needs more money to help fund it.
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