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v3.25.3

DERIVATIVE INSTRUMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
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
| 2025 |  | 2024 |  | Settle Through
Natural Gas Commodity Swaps (Bcf) | 949.9 |  |  | 1,163.7 |  |  | 2028
Natural Gas Basis Swaps (Bcf) | 591.4 |  |  | 688.7 |  |  | 2028
NGL Commodity Swaps (Mbbls) | 364.0 |  | 351.0 |  | 2026
Schedule of Derivative Assets at Fair Value | The gross fair value of CNX's derivative instruments was as follows:
| September 30, |  | December 31,
| 2025 |  | 2024
Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 63,027 |  |  | $ | 45,336 |
NGL Commodity Swaps | 1,604 |  |  | 90 |
Natural Gas Basis Swaps | 35,445 |  |  | 42,499 |
Total Current Assets | $ | 100,076 |  |  | $ | 87,925 |
Other Non-Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 85,663 |  |  | $ | 117,875 |
Natural Gas Basis Swaps | 32,724 |  |  | 42,308 |
Total Other Non-Current Assets | $ | 118,387 |  |  | $ | 160,183 |
Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 264,746 |  |  | $ | 300,994 |
NGL Commodity Swaps | — |  |  | 839 |
Natural Gas Basis Swaps | 51,983 |  |  | 52,788 |
Total Current Liabilities | $ | 316,729 |  |  | $ | 354,621 |
Non-Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 203,927 |  |  | $ | 364,662 |
Natural Gas Basis Swaps | 47,279 |  |  | 64,871 |
Total Non-Current Liabilities | $ | 251,206 |  |  | $ | 429,533 |
Schedule of Derivative Liabilities at Fair Value | The gross fair value of CNX's derivative instruments was as follows:
| September 30, |  | December 31,
| 2025 |  | 2024
Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 63,027 |  |  | $ | 45,336 |
NGL Commodity Swaps | 1,604 |  |  | 90 |
Natural Gas Basis Swaps | 35,445 |  |  | 42,499 |
Total Current Assets | $ | 100,076 |  |  | $ | 87,925 |
Other Non-Current Assets: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 85,663 |  |  | $ | 117,875 |
Natural Gas Basis Swaps | 32,724 |  |  | 42,308 |
Total Other Non-Current Assets | $ | 118,387 |  |  | $ | 160,183 |
Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 264,746 |  |  | $ | 300,994 |
NGL Commodity Swaps | — |  |  | 839 |
Natural Gas Basis Swaps | 51,983 |  |  | 52,788 |
Total Current Liabilities | $ | 316,729 |  |  | $ | 354,621 |
Non-Current Liabilities: |  |  |
Commodity Derivative Instruments: |  |  |
Natural Gas Commodity Swaps | $ | 203,927 |  |  | $ | 364,662 |
Natural Gas Basis Swaps | 47,279 |  |  | 64,871 |
Total Non-Current Liabilities | $ | 251,206 |  |  | $ | 429,533 |
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, |
|  | 2025 |  | 2024 |  | 2025 |  | 2024 |
Realized Gain (Loss) on Commodity Derivative Instruments: |  |  |  |  |  |  |  |  |
Natural Gas Commodity Swaps |  | $ | 4,061 |  |  | $ | 85,312 |  |  | $ | (125,872) |  |  | $ | 258,096 |  |
Natural Gas Basis Swaps |  | 17,591 |  |  | 8,797 |  |  | 3,633 |  |  | 531 |  |
NGL Commodity Swaps |  | 728 |  |  | 554 |  |  | (473) |  |  | 770 |  |
Total Realized Gain (Loss) on Commodity Derivative Instruments |  | 22,380 |  |  | 94,663 |  |  | (122,712) |  | * | 259,397 |  | **
Unrealized Gain (Loss) on Commodity Derivative Instruments: |  |  |  |  |  |  |  |  |
Natural Gas Commodity Swaps |  | 234,645 |  |  | 69,688 |  |  | 154,522 |  |  | (30,679) |  |
Natural Gas Basis Swaps |  | (125,257) |  |  | (77,905) |  |  | (9,292) |  |  | (118,190) |  |
NGL Commodity Swaps |  | (73) |  |  | 2,518 |  |  | 2,078 |  |  | 59 |  |
Total Unrealized Gain (Loss) on Commodity Derivative Instruments |  | 109,315 |  |  | (5,699) |  |  | 147,308 |  |  | (148,810) |  |
Gain (Loss) on Commodity Derivative Instruments: |  |  |  |  |  |  |  |  |
Natural Gas Commodity Swaps |  | 238,706 |  |  | 155,000 |  |  | 28,650 |  |  | 227,417 |  |
Natural Gas Basis Swaps |  | (107,666) |  |  | (69,108) |  |  | (5,659) |  |  | (117,659) |  |
NGL Commodity Swaps |  | 655 |  |  | 3,072 |  |  | 1,605 |  |  | 829 |  |
Total Gain on Commodity Derivative Instruments |  | $ | 131,695 |  |  | $ | 88,964 |  |  | $ | 24,596 |  |  | $ | 110,587 |  |
*Includes $18,362 of commodity derivatives that have been settled but not received at September 30, 2025, and excludes $2,309 of commodity derivatives that were settled but not received and $23,212 that were settled but not paid at December 31, 2024. **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. 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,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Cash Received in Settlement of Interest Rate Swaps |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,103 |
Unrealized Loss on Interest Rate Swaps |  | — |  |  | — |  |  | — |  |  | (1,099) |
Gain on Interest Rate Swaps |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4 |

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