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PS - CNX trims 2020 capex & growth targets on bearish outlook - November 2019
CNX Resources anticipates spending less in 2020 than previously planned and is scaling back growth plans as the natural gas outlook appears bearish. The company will spend $885-950 million on capex compared to prior targets of $945 million to $1.01 billion. Production guidance has been revised to 1.47-1.55 Bcfe/d from 1.56- 1.63 Bcfe/d. This would amount to 3% YOY growth versus 2019. However, the company still expects to generate $146 million in free cash......
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