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CNX records profit for 4Q17

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Oilfield Technology,


CNX Resources Corp (CNX) has reported a net income of US$276.6 million for 4Q17, after reporting a loss in the same period a year earlier.

CNX Resources Corp (CNX) has reported a net income of US$276.6 million for 4Q17, after reporting a loss in the same period a year earlier.

On a per-share basis, the company said it had a profit of US$1.21. Earnings, adjusted for non-recurring gains, were 5 cents per share.

The natural gas company posted revenue of US$477 million in the period.

For the year the company reported net income of US$380.7 million, or US$1.65 per share. Revenue was reported as US$1.46 billion.

In 4Q17 CNX sold 118.9 billion ft3 natural gas, an increase of 17% on the same period in 2016. The rise has been credited principally to Utica and Marcellus shale volumes.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/31012018/cnx-records-profit-for-4q17/

 

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