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Derivative Instruments (Tables) | 9 Months Ended
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Sep. 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:
| September 30, |  | December 31, |  | Forecasted to
| 2024 |  | 2023 |  | Settle Through
Natural Gas Commodity Swaps (Bcf) | 1,105.6 |  |  | 1,349.2 |  |  | 2028
Natural Gas Basis Swaps (Bcf) | 621.4 |  |  | 760.3 |  |  | 2028
NGL Commodity Swaps (Mbbls) | 655.2 |  | 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:
| September 30, |  | December 31,
| 2024 |  | 2023
Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 105,075 |  |  | $ | 168,532 |
NGL Commodity Swaps | 1,686 |  |  | 1,003 |
Natural Gas Basis Swaps | 40,259 |  |  | 77,540 |
Interest Rate Swaps | — |  |  | 5,449 |
Total Current Assets | $ | 147,020 |  |  | $ | 252,524 |
Other Non-Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 167,629 |  |  | $ | 166,701 |
Natural Gas Basis Swaps | 61,254 |  |  | 113,829 |
Total Other Non-Current Assets | $ | 228,883 |  |  | $ | 280,530 |
Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 155,504 |  |  | $ | 47,279 |
NGL Commodity Swaps | 336 |  |  | — |
Natural Gas Basis Swaps | 29,955 |  |  | 9,473 |
Interest Rate Swaps | — |  |  | 4,350 |
Total Current Liabilities | $ | 185,795 |  |  | $ | 61,102 |
Non-Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 318,108 |  |  | $ | 484,357 |
Natural Gas Basis Swaps | 51,461 |  |  | 42,197 |
Total Non-Current Liabilities | $ | 369,569 |  |  | $ | 526,554 |
Schedule of Derivative Liabilities at Fair Value | The gross fair value of CNX's derivative instruments was as follows:
| September 30, |  | December 31,
| 2024 |  | 2023
Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 105,075 |  |  | $ | 168,532 |
NGL Commodity Swaps | 1,686 |  |  | 1,003 |
Natural Gas Basis Swaps | 40,259 |  |  | 77,540 |
Interest Rate Swaps | — |  |  | 5,449 |
Total Current Assets | $ | 147,020 |  |  | $ | 252,524 |
Other Non-Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 167,629 |  |  | $ | 166,701 |
Natural Gas Basis Swaps | 61,254 |  |  | 113,829 |
Total Other Non-Current Assets | $ | 228,883 |  |  | $ | 280,530 |
Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 155,504 |  |  | $ | 47,279 |
NGL Commodity Swaps | 336 |  |  | — |
Natural Gas Basis Swaps | 29,955 |  |  | 9,473 |
Interest Rate Swaps | — |  |  | 4,350 |
Total Current Liabilities | $ | 185,795 |  |  | $ | 61,102 |
Non-Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 318,108 |  |  | $ | 484,357 |
Natural Gas Basis Swaps | 51,461 |  |  | 42,197 |
Total Non-Current Liabilities | $ | 369,569 |  |  | $ | 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 Nine Months Ended |
|  | September 30, |  | September 30, |
|  | 2024 |  | 2023 |  | 2024 |  | 2023 |
Realized Gain on Commodity Derivative Instruments: |  |  |  |  |  |  |  |  |
Natural Gas Commodity Swaps |  | $ | 85,312 |  |  | $ | 35,762 |  |  | $ | 258,096 |  |  | $ | 69,232 |  |
Natural Gas Basis Swaps |  | 8,797 |  |  | 65,514 |  |  | 531 |  |  | 49,952 |  |
NGL Commodity Swaps |  | 554 |  |  | 595 |  |  | 770 |  |  | 1,214 |  |
Total Realized Gain on Commodity Derivative Instruments |  | 94,663 |  |  | 101,871 |  |  | 259,397 |  | * | 120,398 |  | **
Unrealized Gain (Loss) on Commodity Derivative Instruments: |  |  |  |  |  |  |  |  |
Natural Gas Commodity Swaps |  | 69,688 |  |  | 1,289 |  |  | (30,679) |  |  | 1,308,252 |  |
Natural Gas Basis Swaps |  | (77,905) |  |  | (53,462) |  |  | (118,190) |  |  | (77,026) |  |
NGL Commodity Swaps |  | 2,518 |  |  | (1,895) |  |  | 59 |  |  | 818 |  |
Total Unrealized (Loss) Gain on Commodity Derivative Instruments |  | (5,699) |  |  | (54,068) |  |  | (148,810) |  |  | 1,232,044 |  |
Gain (Loss) on Commodity Derivative Instruments: |  |  |  |  |  |  |  |  |
Natural Gas Commodity Swaps |  | 155,000 |  |  | 37,051 |  |  | 227,417 |  |  | 1,377,484 |  |
Natural Gas Basis Swaps |  | (69,108) |  |  | 12,052 |  |  | (117,659) |  |  | (27,074) |  |
NGL Commodity Swaps |  | 3,072 |  |  | (1,300) |  |  | 829 |  |  | 2,032 |  |
Total Gain on Commodity Derivative Instruments |  | $ | 88,964 |  |  | $ | 47,803 |  |  | $ | 110,587 |  |  | $ | 1,352,442 |  |
*Includes $30,891 of commodity derivatives that have been settled but not received at September 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 $24,215 of commodity derivatives that have been settled but not received at September 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 Nine Months Ended
|  | September 30, |  | September 30,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Cash Received in Settlement of Interest Rate Swaps |  | $ | — |  |  | $ | 1,173 |  |  | $ | 1,103 |  |  | $ | 2,989 |
Unrealized Loss on Interest Rate Swaps |  | — |  |  | (1,094) |  |  | (1,099) |  |  | (2,231) |
Gain on Interest Rate Swaps |  | $ | — |  |  | $ | 79 |  |  | $ | 4 |  |  | $ | 758 |

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