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Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2024

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:

			June 30,						December 31,						Forecasted to
			2024						2023						Settle Through
Natural Gas Commodity Swaps (Bcf)			1,174.3						1,349.2						2028
Natural Gas Basis Swaps (Bcf)			669.2						760.3						2028
NGL Commodity Swaps (Mbbls)			849.4						81.0						2025
Interest Rate Swaps			$	—					$	410,000					2024

Schedule of Derivative Assets at Fair Value

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

			June 30,						December 31,
			2024						2023
Current Assets:
Commodity Derivative Instruments:
Natural Gas Commodity Swaps			$	115,821					$	168,532
NGL Commodity Swaps			138						1,003
Natural Gas Basis Swaps			70,470						77,540
Interest Rate Swaps			—						5,449
Total Current Assets			$	186,429					$	252,524
Other Non-Current Assets:
Commodity Derivative Instruments:
Natural Gas Commodity Swaps			$	143,368					$	166,701
Natural Gas Basis Swaps			98,016						113,829
Total Other Non-Current Assets			$	241,384					$	280,530
Current Liabilities:
Commodity Derivative Instruments:
Natural Gas Commodity Swaps			$	132,336					$	47,279
NGL Commodity Swaps			1,697						—
Natural Gas Basis Swaps			22,508						9,473
Interest Rate Swaps			—						4,350
Total Current Liabilities			$	156,541					$	61,102
Non-Current Liabilities:
Commodity Derivative Instruments:
Natural Gas Commodity Swaps			$	410,289					$	484,357
Natural Gas Basis Swaps			41,454						42,197
Total Non-Current Liabilities			$	451,743					$	526,554

Schedule of Derivative Liabilities at Fair Value

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

			June 30,						December 31,
			2024						2023
Current Assets:
Commodity Derivative Instruments:
Natural Gas Commodity Swaps			$	115,821					$	168,532
NGL Commodity Swaps			138						1,003
Natural Gas Basis Swaps			70,470						77,540
Interest Rate Swaps			—						5,449
Total Current Assets			$	186,429					$	252,524
Other Non-Current Assets:
Commodity Derivative Instruments:
Natural Gas Commodity Swaps			$	143,368					$	166,701
Natural Gas Basis Swaps			98,016						113,829
Total Other Non-Current Assets			$	241,384					$	280,530
Current Liabilities:
Commodity Derivative Instruments:
Natural Gas Commodity Swaps			$	132,336					$	47,279
NGL Commodity Swaps			1,697						—
Natural Gas Basis Swaps			22,508						9,473
Interest Rate Swaps			—						4,350
Total Current Liabilities			$	156,541					$	61,102
Non-Current Liabilities:
Commodity Derivative Instruments:
Natural Gas Commodity Swaps			$	410,289					$	484,357
Natural Gas Basis Swaps			41,454						42,197
Total Non-Current Liabilities			$	451,743					$	526,554

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 Six Months Ended
						June 30,												June 30,
						2024						2023						2024						2023
Realized Gain (Loss) on Commodity Derivative Instruments:
Natural Gas Commodity Swaps						$	112,476					$	83,395					$	172,785					$	33,469
Natural Gas Basis Swaps						(2,546)						(4,455)						(8,266)						(15,561)
NGL Commodity Swaps						152						619						215						619
Total Realized Gain on Commodity Derivative Instruments						110,082						79,559						164,734			*			18,527			**
Unrealized (Loss) Gain on Commodity Derivative Instruments:
Natural Gas Commodity Swaps						(150,881)						326,127						(100,368)						1,306,963
Natural Gas Basis Swaps						55,636						134,671						(40,285)						(23,564)
NGL Commodity Swaps						(742)						2,115						(2,458)						2,713
Total Unrealized (Loss) Gain on Commodity Derivative Instruments						(95,987)						462,913						(143,111)						1,286,112
(Loss) Gain on Commodity Derivative Instruments:
Natural Gas Commodity Swaps						(38,405)						409,522						72,417						1,340,432
Natural Gas Basis Swaps						53,090						130,216						(48,551)						(39,125)
NGL Commodity Swaps						(590)						2,734						(2,243)						3,332
Total Gain on Commodity Derivative Instruments						$	14,095					$	542,472					$	21,623					$	1,304,639

*Includes $24,183 of commodity derivatives that have been settled but not received at June 30, 2024, and excludes $6,741 of commodity derivatives that were settled but not received and $900 that were settled but not paid at December 31, 2023.

**Includes $16,913 of commodity derivatives that have been settled but not received at June 30, 2023 and excludes $77,662 of commodity derivatives that were settled but not paid at December 31, 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 Six Months Ended
						June 30,												June 30,
						2024						2023						2024						2023
Cash (Paid) Received in Settlement of Interest Rate Swaps						$	(112)					$	1,016					$	1,103					$	1,816
Unrealized Gain (Loss) on Interest Rate Swaps						112						(176)						(1,099)						(1,137)
Gain on Interest Rate Swaps						$	—					$	840					$	4					$	679

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