A jump in forecasted natural gas production, along with inflationary pressures, will find CNX Resources Corp. spending more this year to execute a long-term plan that remains on track after the company turned in a solid 2021. 

Management said operating efficiencies have improved markedly over the last two years across its assets in the Appalachian Basin. As a result, the company is moving forward with a seven-year plan outlined in 2020 with a new base production level of 590 Bcfe instead of the previous 560 Bcfe. 

“The one rig, one fracture crew that we used to use to run a maintenance and production plan now grows production without adding any new crews,” said CFO Donald Rush during a call on Thursday to discuss year-end results with financial analysts. “…Our old plan was...