CNX Subsidiary Entered Agreement To Sell Various Non-Operated Producing Oil And Fas Assets, Expects Cash Proceeds ~$125M
Portfolio Pulse from Benzinga Newsdesk
CNX Resources Corporation's subsidiary has entered an agreement to sell various non-operated producing oil and gas assets, expecting cash proceeds of approximately $125 million.
June 15, 2023 | 8:40 pm
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CNX Resources is set to receive approximately $125 million in cash proceeds from the sale of non-operated oil and gas assets.
The sale of non-operated oil and gas assets by CNX Resources' subsidiary is expected to bring in cash proceeds of around $125 million. This influx of cash can be used to strengthen the company's balance sheet, invest in growth opportunities, or reduce debt, which can positively impact CNX's stock price in the short term.
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