CNX Resources’ production guidance for 4Q17
For 4Q17, CNX Resources (CNX) expects total production (UNG) (USO) of 120 Bcfe (billion cubic feet equivalent). Its 4Q17 production guidance is 18% higher when compared with 4Q16 production of 101 Bcfe. Even sequentially, CNX Resources’ 4Q17 production guidance is higher by 18% when compared with 3Q17 production of 101 Bcfe.
CNX expects 4Q17 production growth to come from the Utica Shale and Monroe County in Ohio. It expects its Utica Shale production to grow 66% to 33.4 Bcfe.
CNX Resources’ 2017 production guidance
For 2017, CNX expects its 2017 production to be 405–415 Bcfe. For 2018, CNX expects its 2018 production to be 520–550 Bcfe.
CNX’s peer Southwestern Energy (SWN) expects a compound annual production growth rate of 3%–5% for 2017–2018, with $1 billion in capital spending. Next, let’s see how CNX Resources reacted to its past earnings.