CNX Resources Corp. got a lift from stronger first quarter commodity prices as it continued executing on a broader seven-year plan it laid out in 2020.

appalachia prices

The company said free cash flow (FCF), up for the fifth consecutive quarter, came in at $101 million. It has also increased its full-year FCF guidance to $450 million from a previous target of $425 million. Between 2020 and 2026, the company is aiming to generate $3 billion in FCF. 

The gains helped the company to cut net debt by $70 million and repurchase 1.5 million shares at a total cost of $18 million under an existing buyback program. 

COO Chad Griffith said the Appalachian pure-play producer also expects costs to continue coming down as unused firm transportation (FT) capacity comes off the balance sheet and interest...