Significant Buyback Activity
The company executed a sizable stock buyback during the third quarter, marking the highest level since Q4 2022, driven by significant free cash flow generation.
Utica Acquisition Completion
CNX acquired the remaining unleased Utica rights for Apex's footprint, aligning with their infrastructure leverage strategy.
Drilling Efficiency Improvements
Drilling costs for Utica wells have decreased by nearly 20%, from $2,200 per foot to $1,750 per foot, showcasing enhanced operational efficiency.
Well Outperformance
The company observed outperformance in the Apex assets, leading to strong production results.