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Consol Energy guides 2017 EBITDA, production lower

Published 09/05/2017, 10:56 AM
© Reuters.  Consol Energy guides 2017 EBITDA, production lower
CNX
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  • Consol Energy (CNX -0.9%) guides its FY 2017 adjusted EBITDA lower by ~$55M to $815M, and now expects 2017 leverage of ~2.8x net debt to EBITDA, an increase from previously stated guidance of 2.6x.
  • CNX decreases its 2017 E&P division production guidance to 405B-415B cfe vs. previous guidance of 420B-440B cfe, and sees Q3 production of ~100B cfe, which implies higher growth in Q4.
  • CNX maintains previously announced 2017 total E&P capex guidance of $620M-$645M as well as 2018 E&P division production guidance of 520B-550B cfe, or ~30% growth vs. 2017 based on the midpoint of the guidance ranges.
  • Also, CNX's board approves a one-year share repurchase program of up to $200M.
  • Now read: 11% Yielder That May Be In Trouble


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