CNX Resources Corp. will increase this year’s capital expenditures (capex) as it battles through inflationary pressures and works to keep its operations stable heading into next year.

appalachian basin prices

The Appalachian pure-play is now guiding for a 2022 capex range of $550-590 million, up $70 million at the midpoint from its previous forecast. 

“We are planning to run a second rig for almost the entirety of the second half of the year to ensure there are no delays to our 2023 schedule, and we are pre-buying and locking in key tangible goods and services,” said CFO Alan Shepard during a recent call to discuss the company’s second quarter results. 

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