Appalachian Basin pure-play CNX Resources Corp. is aiming to lock in elevated natural gas prices and protect itself from market swings through an aggressive hedging strategy, CEO Nick Deluliis said Thursday.

Deluliis hosted a conference call to discuss fourth-quarter and full-year 2022 results for Canonsburg, PA-based CNX

He said “from a macro perspective, we expect the recent pricing volatility to continue in 2023 as the US domestic markets continue to fluctuate with shifting weather expectations, uncertain domestic production levels,” and growing liquefied natural gas demand from around the world. “How gas prices unfold in 2023 will depend on a difficult to predict combination of those three core elements.” 

[Where are natural gas prices headed this summer?...