v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION:
The Company reports segment information based on the “management” approach. The management approach designates the internal reporting used by management for making decisions and assessing performance as the source of the Company’s reportable segments.
Operating segments are components of an enterprise for which discrete financial information is available and regularly evaluated by the Chief Operating Decision Maker ("CODM") for resource allocation and performance assessment. The Company's CODM is its Chief Executive Officer. The Company’s segment structure reflects the financial information and reports used by the CODM to make decisions regarding the Company’s business, including resource allocations and performance assessments, as well as the current operating focus.
CNX's principal activity is to produce pipeline quality natural gas for sale primarily to gas wholesalers, and the Company has two reportable segments that conduct those operations: Shale and Coalbed Methane. The Other Segment includes nominal shallow oil and gas production which is not significant to the Company. It also includes the Company's purchased gas activities, unrealized gain or loss on commodity derivative instruments, exploration and production related other costs, sales of environmental attributes, as well as various other expenses that are managed outside the reportable segments as discussed below.
The CODM evaluates the performance of the Company’s reportable segments using Income (Loss) Before Income Tax to assess segment performance primarily by comparing it across segments for the current period as well as for prior periods. Income (Loss) Before Income Tax for each segment is based on revenue less identifiable operating and non-operating expenses. Certain expenses are managed outside the reportable segments and therefore are not allocated. These expenses include, but are not limited to, interest expense, other operating expense, and other corporate expenses such as selling, general and administrative costs.
Reportable segment results for the three months ended June 30, 2026 are:
For the Three Months Ended June 30, 2026
ShaleCoalbed MethaneOtherConsolidated
Natural Gas, NGLs and Oil Revenue$360,562 $28,633 $240 $389,435 (A)
Gain on Commodity Derivative Instruments 42,388 3,037 130,911 176,336 
Purchased Gas Revenue— — 12,456 12,456 
Other Revenue and Operating Income15,282 — 24,975 40,257 (B)
Total Revenue and Other Operating Income $418,232 $31,670 $168,582 $618,484   
Lease Operating Expense14,564 6,290 408 21,262 
Transportation, Gathering and Compression86,683 15,199 1,341 103,223 
Production, Ad Valorem, and Other Fees4,952 1,584 10 6,546 
Depreciation, Depletion and Amortization114,559 14,874 6,799 136,232 
Interest Expense— — 39,023 39,023 
Other Segment Items— — 75,256 75,256 
Total Costs and Expenses$220,758 $37,947 $122,837 $381,542 
Income (Loss) Before Income Tax$197,474 $(6,277)$45,745 $236,942 
(A) Included in Natural Gas, NGLs and Oil Revenue are sales of $57,547 to NRG Business Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(B) Includes midstream revenue of $15,282 and equity in loss of unconsolidated affiliates of $645 for Shale and Other, respectively. Other also includes sales of environmental attributes of $14,436.
For the Three Months Ended June 30, 2026
Other Segment DisclosuresShaleCoalbed MethaneOtherConsolidated
Segment Assets$7,291,994 $885,981 $958,924 $9,136,899 (C)
Capital Expenditures$134,119 $6,286 $1,595 $142,000 
(C) Includes investments in unconsolidated equity affiliates of $5,166.

Reportable segment results for the three months ended June 30, 2025 are:
For the Three Months Ended June 30, 2025
ShaleCoalbed MethaneOtherConsolidated
Natural Gas, NGLs and Oil Revenue$451,618 $33,180 $231 $485,029 (D)
(Loss) Gain on Commodity Derivative Instruments(33,256)(2,133)456,510 421,121 
Purchased Gas Revenue— — 10,408 10,408   
Other Revenue and Operating Income17,432 — 28,432 45,864 (E)
Total Revenue and Other Operating Income$435,794 $31,047 $495,581 $962,422   
Lease Operating Expense20,214 6,016 26 26,256 
Transportation, Gathering and Compression80,049 16,327 577 96,953 
Production, Ad Valorem, and Other Fees8,209 1,452 7 9,668 
Depreciation, Depletion and Amortization131,268 14,806 6,521 152,595 
Interest Expense— — 44,041 44,041 
Other Segment Items— — 47,268 47,268 
Total Costs and Expenses$239,740 $38,601 $98,440 $376,781 
Income (Loss) Before Income Tax$196,054 $(7,554)$397,141 $585,641 
(D) Included in Natural Gas, NGLs and Oil Revenue are sales of $59,948 to Citadel Energy Marketing LLC, $58,792 to NRG Business Marketing LLC, and $56,365 to DTE Energy Trading Inc., each of which comprises over 10% of revenue from contracts with external customers for the period.
(E) Includes midstream revenue of $17,432 and equity in earnings of unconsolidated affiliates of $605 for Shale and Other, respectively. Other also includes sales of environmental attributes of $20,400.
For the Three Months Ended June 30, 2025
Other Segment DisclosuresShaleCoalbed MethaneOtherConsolidated
Segment Assets$7,143,060 $923,635 $921,172 $8,987,867 (F)
Capital Expenditures$85,556 $26,505 $1,504 $113,565 
(F) Includes investments in unconsolidated equity affiliates of $19,178.
Reportable segment results for the six months ended June 30, 2026 are:
For the Six Months Ended June 30, 2026
ShaleCoalbed MethaneOtherConsolidated
Natural Gas, NGLs and Oil Revenue$1,023,462 $87,394 $622 $1,111,478 (G)
(Loss) Gain on Commodity Derivative Instruments (165,952)(10,160)356,429 180,317 
Purchased Gas Revenue— — 25,143 25,143 
Other Revenue and Operating Income31,651 — 56,549 88,200 (H)
Total Revenue and Other Operating Income $889,161 $77,234 $438,743 $1,405,138   
Lease Operating Expense30,106 12,316 610 43,032 
Transportation, Gathering and Compression173,459 31,194 972 205,625 
Production, Ad Valorem, and Other Fees11,516 3,796 23 15,335 
Depreciation, Depletion and Amortization227,523 29,290 14,032 270,845 
Interest Expense— — 79,493 79,493 
Other Segment Items— — 125,461 125,461 
Total Costs and Expenses$442,604 $76,596 $220,591 $739,791 
Income Before Income Tax$446,557 $638 $218,152 $665,347 
(G) Included in Natural Gas, NGLs and Oil Revenue are sales of $213,561 to NRG Business Marketing LLC and $118,454 to DTE Energy Trading, Inc., each of which comprises over 10% of revenue from contracts with external customers for the period.
(H) Includes midstream revenue of $31,651 and equity in loss of unconsolidated affiliates of $1,108 for Shale and Other, respectively. Other also includes sales of environmental attributes of $29,376.
For the Six Months Ended June 30, 2026
Other Segment DisclosuresShaleCoalbed MethaneOtherConsolidated
Segment Assets$7,291,994 $885,981 $958,924 $9,136,899 (I)
Capital Expenditures$297,539 $11,686 $2,681 $311,906 
(I) Includes investments in unconsolidated equity affiliates of $5,166.

Reportable segment results for the six months ended June 30, 2025 are:
For the Six Months Ended June 30, 2025
ShaleCoalbed MethaneOtherConsolidated
Natural Gas, NGLs and Oil Revenue$959,173 $76,458 $492 $1,036,123 (J)
(Loss) Gain on Commodity Derivative Instruments(135,956)(9,086)37,943 (107,099)
Purchased Gas Revenue— — 21,959 21,959   
Other Revenue and Operating Income34,270 — 59,558 93,828 (K)
Total Revenue and Other Operating Income $857,487 $67,372 $119,952 $1,044,811   
Lease Operating Expense37,433 11,985 170 49,588 
Transportation, Gathering and Compression158,099 33,110 903 192,112 
Production, Ad Valorem, and Other Fees13,709 3,218 14 16,941 
Depreciation, Depletion and Amortization237,628 28,618 13,411 279,657 
Interest Expense— — 85,652 85,652 
Other Segment Items— — 108,019 108,019 
Total Costs and Expenses$446,869 $76,931 $208,169 $731,969 
Income (Loss) Before Income Tax$410,618 $(9,559)$(88,217)$312,842 
(J) Included in Natural Gas, NGLs and Oil Revenue are sales of $124,748 to Citadel Energy Marketing LLC, which comprises over 10% of revenue from contracts with external customers for the period.
(K) Includes midstream revenue of $34,270 and equity in earnings of unconsolidated affiliates of $548 for Shale and Other, respectively. Other also includes sales of environmental attributes of $43,285.
For the Six Months Ended June 30, 2025
Other Segment DisclosuresShaleCoalbed MethaneOtherConsolidated
Segment Assets$7,143,060 $923,635 $921,172 $8,987,867 (L)
Capital Expenditures$213,235 $29,248 $2,547 $245,030 
(L) Includes investments in unconsolidated equity affiliates of $19,178.
Reconciliation of Segment Information to Consolidated Amounts:

Revenue and Other Operating Income:
For the Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
Total Segment Revenue from Contracts with External Customers$417,173 $512,869 $1,168,272 $1,092,352 
Gain (Loss) on Commodity Derivative Instruments176,336 421,121 180,317 (107,099)
Other Operating Income24,975 28,432 56,549 59,558 
Total Consolidated Revenue and Other Operating Income $618,484 $962,422 $1,405,138 $1,044,811