ADDED
Remediated mine gas (RMG) - formerly referred to as coal mine methane (CMM) - any gaseous hydrocarbon that is extracted or released through wells, degasification boreholes, ventilation or bleeder shafts for the purposes of degasifying underground coal mining operations.
2025 Operational Highlights and Outlook Over the past ten years, CNX's total sales volumes have grown by approximately 91% to a total of 629 net Bcfe in 2025; Total average production of 1,723,178 Mcfe per day in 2025; 92% Natural Gas, 8% Liquids; and 94% Shale, 6% coalbed methane.
At December 31, 2025, our proved natural gas, NGL, condensate and oil reserves (collectively, natural gas reserves ) had the following characteristics: 9.7 Tcfe of proved reserves; 89.5% natural gas; 72.2% proved developed; and 99.1% operated.
6 On January 27, 2025, the Company completed the acquisition of the natural gas upstream and associated midstream business of Apex Energy II, LLC for total cash consideration of approximately $518 million.
See Note 4 Acquisitions and Dispositions in the Notes to the Audited Consolidated Financial Statements in Item 8 of this Form 10-K for more information.
In 2026, CNX expects capital expenditures to be between $556 million and $586 million.
Included in CNX s 2026 capital expenditures is the first of three annual payments of $16 million associated with an agreement that grants CNX the right to acquire Utica Shale oil and gas rights that sit beneath the legacy Apex Energy footprint.
We have rights to extract natural gas from Shale formations in Pennsylvania, West Virginia, and Ohio from approximately 557,000 net Marcellus Shale acres and approximately 612,000 net Utica Shale acres at December 31, 2025.
CNX also has the right to capture Remediated Mine Gas (RMG) from active and abandoned mines in this region.
8 The following table represents the terms under which we hold these acres: Gross Unproved Acres Net Unproved Acres Gross Proved Undeveloped Acres Net Proved Undeveloped Acres Held by Production/Fee 4,885,067 3,484,766 17,804 17,804 Expiration Within 2 Years 32,458 19,678 4,382 4,382 Expiration Beyond 2 Years 28,554 12,764 3,906 3,906 Total Acreage 4,946,079 3,517,208 26,092 26,092 The leases reflected above as Gross and Net Unproved Acres with expiration dates are included in our current drill plan or active land program.
REMOVED
Coal mine methane (CMM) - any gaseous hydrocarbon that is extracted or released through wells, degasification boreholes, ventilation or bleeder shafts for the purposes of degasifying underground coal mining operations.
New Technologies - currently represents what CNX views as a unique set of market opportunities in the areas of environmental attributes, proprietary technology and derivative product development.
See Part I, Item 1 - Business of this Form 10-K for a discussion of CNX s New Technology efforts.
2024 Operational Highlights and Outlook Over the past ten years, CNX's total sales volumes have grown by approximately 134% to a total of 550.8 net Bcfe in 2024; Total average production of 1,504,956 Mcfe per day in 2024; 90% Natural Gas, 10% Liquids; and 93% Shale, 7% coalbed methane.
At December 31, 2024, our proved natural gas, NGL, condensate and oil reserves (collectively, natural gas reserves ) had the following characteristics: 8.5 Tcfe of proved reserves; 89.4% natural gas; 71.4% proved developed; and 99.1% operated.
6 On January 27, 2025, the Company completed the acquisition of the natural gas upstream and associated midstream business of Apex Energy II, LLC ( the Apex Transaction") for total cash consideration of approximately $505 million, subject to certain post-closing adjustments.
See Note 22 Subsequent Event in the Notes to the Audited Consolidated Financial Statements in Item 8 of this Form 10-K for more information.
In 2025, CNX expects capital expenditures to be between $450 million and $500 million.
We have rights to extract natural gas from Shale formations in Pennsylvania, West Virginia, and Ohio from approximately 528,000 net Marcellus Shale acres and approximately 606,000 net Utica Shale acres at December 31, 2024.
CNX also has the right to capture Coal Mine Methane (CMM) from active and abandoned mines in this region.