Past year: ▲ 1%(31.17 – 41.78 USD)
Each one in plain English, with the numbers worked through for a shareholder.
30 Apr 2019debt financing● Neutral
CNX amended its credit agreement to extend its maturity to 2024, reaffirm its $2.1 billion borrowing base, and explicitly permit Southeastern Asset Management - which has been building a large position - to own up to 40% of CNX's voting stock without triggering a change-of-control default.
14 Mar 2019debt financing▼ BadMajor
CNX completed a $500 million offering of 7.25% senior notes due 2027 - a materially higher coupon than its 2014-era debt, reflecting a tighter credit market for the sector.
4 Mar 2019material agreement● Neutral
CNX obtained a waiver from its credit-facility lenders to issue up to $650 million of unsecured notes without a borrowing-base cut, and launched a tender offer for up to $400 million of its 5.875% 2022 notes.
31 Aug 2018asset acquisition disposition▲ GoodMajor
CNX closed the roughly $400 million sale of its Ohio Utica joint-venture assets to Ascent Resources.
29 June 2018material agreement▲ GoodMajor
CNX agreed to sell its Ohio Utica Shale joint-venture assets, held together with Hess Corporation, to Ascent Resources for about $400 million net cash, exiting a wet-gas area it judged less attractive than its core opportunities.
16 Mar 2018asset acquisition disposition▲ Good
CNX sold CNX Midstream Partners the remaining 95% of the gathering system serving its Shirley-Penns area for $265 million cash, funded by CNX Midstream's own new $400 million bond issue - a routine 'dropdown' of gathering assets into the MLP.
12 Mar 2018debt financing● Neutral
CNX Resources replaced its 2014 credit facility with a new $2.1 billion senior secured revolving credit facility.
3 Jan 2018asset acquisition disposition▲ GoodMajor
CNX completed the $305 million buyout of Noble Energy's 50% interest in CONE Gathering, giving CNX full ownership of its midstream joint venture.
18 Dec 2017material agreement▲ GoodMajor
CNX Gas agreed to buy Noble Energy's remaining 50% stake in their CONE Gathering midstream joint venture for $305 million cash, which would make CNX Midstream a single-sponsor MLP fully owned by CNX.
1 Dec 2017debt financing▲ GoodMajor
Having just completed its long-planned separation into a pure-play natural gas company (renamed CNX Resources Corporation) and a standalone coal company (new CONSOL Energy Inc., ticker CEIX) on November 28, 2017, CNX amended its credit facility to reflect the split, shrinking the facility from $2.5 billion to $2.0 billion now that coal assets are gone.
2 Dec 2016asset acquisition disposition▲ GoodMajor
CNX Gas and Noble Energy closed their Utica Shale property exchange, with Noble paying CONSOL $213 million cash; each company now fully owns its own areas and their joint development agreement has ended.
16 Nov 2016material agreement● Neutral
CONE Midstream Partners (the CONSOL/Noble Energy midstream joint venture) agreed to buy the remaining 25% of a gathering-system subsidiary from CONE Gathering for $140 million cash plus newly issued partnership units, consolidating that asset under the MLP.
16 Nov 2016asset acquisition disposition● Neutral
CONE Midstream Partners completed the previously announced acquisition of the remaining 25% interest in its DevCo I gathering subsidiary.
31 Oct 2016material agreement▲ GoodMajor
CNX Gas agreed to swap jointly-owned Utica Shale properties with longtime joint-development partner Noble Energy so each company would fully own its own geographic areas, with Noble paying CONSOL $205 million cash and ending their multi-year cost-sharing arrangement.
25 July 2016material agreement▲ GoodMajor
CONSOL Energy agreed to sell its Miller Creek and Fola coal mine complexes in West Virginia to Southeastern Land, LLC, another step in exiting coal.
26 Apr 2016debt financing● Neutral
CONSOL Energy again amended its credit agreement to accommodate the planned coal spinoffs, tightening cash-sweep terms and pledging its stakes in the CONE Gathering/CONE Midstream gas infrastructure as loan collateral.
6 Apr 2016asset acquisition disposition▲ GoodMajor
CONSOL Energy closed the sale of the Buchanan Mine and related coal assets to Coronado for $420 million, including $402.8 million cash at closing.
29 Feb 2016material agreement▲ GoodMajor
CONSOL Energy agreed to sell its Buchanan metallurgical coal mine, the Amonate mining complex, and related Virginia/Pennsylvania coal reserves to Coronado IV LLC for a base price of $420 million, continuing its shift away from coal.
13 July 2015material agreement termination● Neutral
CONSOL Energy paid off and terminated its accounts-receivable securitization facility with no early-termination penalties.
26 May 2015debt financing● NeutralMajor
CONSOL Energy amended its credit agreement to clear the way for possible future spinoffs of its thermal-coal and metallurgical-coal businesses, and to let those coal subsidiaries raise their own separate debt - an early step toward what would become its 2017 gas/coal separation.
30 Mar 2015debt financing▼ BadMajor
As commodity prices slid, CONSOL Energy issued new senior notes due 2023 at an 8.000% coupon - a notably higher rate than its 2014 borrowings, reflecting the tougher market.
12 Aug 2014debt financing● Neutral
CONSOL Energy issued another $250 million of its 5.875% senior notes due 2022, adding to the $1.6 billion issued in April.
24 June 2014debt financing● Neutral
CONSOL Energy replaced its two existing $1.0 billion credit facilities (one for the parent, one for CNX Gas) with a single new $2.0 billion senior secured revolving credit facility.
16 Apr 2014debt financing● NeutralMajor
CONSOL Energy closed its planned $1.6 billion offering of 5.875% senior notes due 2022.
7 Apr 2014drilling progress report▲ GoodMajor
CONSOL Energy (the diversified coal-and-gas company that later became pure-play CNX Resources) reported record first-quarter gas production, up 23% year-over-year on nearly doubled Marcellus Shale output, raised its coal production guidance, and flagged a planned $1.6 billion bond offering.
