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Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional Amounts of Derivative Instruments

The total notional amounts of CNX's derivative instruments were as follows:

			September 30,						December 31,						Forecasted to
			2023						2022						Settle Through
Natural Gas Commodity Swaps (Bcf)			1,448.2						1,607.9						2027
Natural Gas Basis Swaps (Bcf)			839.9						1,023.7						2027
Propane Commodity Swaps (Mbbls)			163.8						—						2024
Interest Rate Swaps			$	410,000					$	410,000					2024

Schedule of Derivative Assets at Fair Value

The gross fair value of CNX's derivative instruments was as follows:

			September 30,						December 31,
			2023						2022
Current Assets:
Commodity Derivative Instruments:
Commodity Swaps			$	64,900					$	21,759
Propane Swaps			950						—
Basis Only Swaps			90,688						118,115
Interest Rate Swaps			9,948						14,600
Total Current Assets			$	166,486					$	154,474
Other Non-Current Assets:
Commodity Derivative Instruments:
Commodity Swaps			$	136,820					$	42,786
Basis Only Swaps			150,209						197,280
Interest Rate Swaps			—						4,865
Total Other Non-Current Assets			$	287,029					$	244,931
Current Liabilities:
Commodity Derivative Instruments:
Commodity Swaps			$	183,585					$	732,717
Basis Only Swaps			24,601						38,559
Interest Rate Swaps			7,617						11,377
Total Current Liabilities			$	215,803					$	782,653
Non-Current Liabilities:
Commodity Derivative Instruments:
Commodity Swaps			$	759,708					$	1,466,124
Basis Only Swaps			46,583						47,370
Interest Rate Swaps			—						3,527
Total Non-Current Liabilities			$	806,291					$	1,517,021

Schedule of Derivative Liabilities at Fair Value

The gross fair value of CNX's derivative instruments was as follows:

			September 30,						December 31,
			2023						2022
Current Assets:
Commodity Derivative Instruments:
Commodity Swaps			$	64,900					$	21,759
Propane Swaps			950						—
Basis Only Swaps			90,688						118,115
Interest Rate Swaps			9,948						14,600
Total Current Assets			$	166,486					$	154,474
Other Non-Current Assets:
Commodity Derivative Instruments:
Commodity Swaps			$	136,820					$	42,786
Basis Only Swaps			150,209						197,280
Interest Rate Swaps			—						4,865
Total Other Non-Current Assets			$	287,029					$	244,931
Current Liabilities:
Commodity Derivative Instruments:
Commodity Swaps			$	183,585					$	732,717
Basis Only Swaps			24,601						38,559
Interest Rate Swaps			7,617						11,377
Total Current Liabilities			$	215,803					$	782,653
Non-Current Liabilities:
Commodity Derivative Instruments:
Commodity Swaps			$	759,708					$	1,466,124
Basis Only Swaps			46,583						47,370
Interest Rate Swaps			—						3,527
Total Non-Current Liabilities			$	806,291					$	1,517,021

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position

The effect of commodity derivative instruments on the Company's Consolidated Statements of Income was as follows:

						For the Three Months Ended												For the Nine Months Ended
						September 30,												September 30,
						2023						2022						2023						2022
Realized Gain (Loss) on Commodity Derivative Instruments:
Natural Gas Commodity Swaps						$	35,762					$	(690,685)					$	69,232					$	(1,520,879)
Natural Gas Basis Swaps						65,514						39,486						49,952						68,447
Propane Swaps						595						—						1,214						—
Total Realized Gain (Loss) on Commodity Derivative Instruments						101,871						(651,199)						120,398			*			(1,452,432)			**
Unrealized Gain (Loss) on Commodity Derivative Instruments:
Natural Gas Commodity Swaps						1,289						(300,013)						1,308,252						(2,151,435)
Natural Gas Basis Swaps						(53,462)						(111,141)						(77,026)						162,478
Propane Swaps						(1,895)						—						818						—
Total Unrealized (Loss) Gain on Commodity Derivative Instruments						(54,068)						(411,154)						1,232,044						(1,988,957)
Gain (Loss) on Commodity Derivative Instruments:
Natural Gas Commodity Swaps						37,051						(990,698)						1,377,484						(3,672,314)
Natural Gas Basis Swaps						12,052						(71,655)						(27,074)						230,925
Propane Swaps						(1,300)						—						2,032						—
Total Gain (Loss) on Commodity Derivative Instruments						$	47,803					$	(1,062,353)					$	1,352,442					$	(3,441,389)

*Includes $24,215 of gas derivatives that have been settled but not received at September 30, 2023 and excludes $77,662 of gas derivatives that were settled but not paid at December 31, 2022.

**Includes $213 of gas derivatives that have been settled but not paid at September 30, 2022.

The effect of interest rate swaps on Interest Expense in the Company's Consolidated Statements of Income was as follows:

						For the Three Months Ended												For the Nine Months Ended
						September 30,												September 30,
						2023						2022						2023						2022
Cash Received (Paid) in Settlement of Interest Rate Swaps						$	1,173					$	(234)					$	2,989					$	(1,934)
Unrealized (Loss) Gain on Interest Rate Swaps						(1,094)						2,694						(2,231)						10,047
Gain on Interest Rate Swaps						$	79					$	2,460					$	758					$	8,113

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