64
CNX Gas (CXG)
It's only natural that amid a strained energy market, CNX Gas should see its profits soar. But as consumers demand ever more energy -- including cleaner forms like natural gas -- the Pittsburgh oil and gas provider is doubling its capital expenditures over the next three years to expand its vast reserves well into Pennsylvania. CNX Gas has seen 58.5% average annual growth in profits since 2002, which it attributes to its low-cost structure. Its 6.5 billion reserves across mostly the Appalachian Basin contain some of the gassiest coal in the Western hemisphere and generated $613 million in revenue last year. A decade without major accidents has also kept costs low. After a spinoff from Console Energy in June, 2005, CNX Gas's shares have risen 36% since March of this year.
Company Info |
|
| 2005 Rank | NR |
| Market Value* ($ Millions) | 4,298.7 |
| Sales* ($ Millions) | 655.2 |
| Sales Growth (3-yr. avg. annual) |
61.9 % |
| Profits* ($ Millions) | 121.5 |
| Profit Growth (3-yr. avg. annual) | 58.5 % |
| Return on Inv. Capital (3-yr.) | 11.5 % |
| Share Price 12-Mo. Hi/Lo | 31/20 |
| Share Price As of 4/28/06 | 29 |
| Return on Equity | 16.3 % |
| P/E Ratio | 36 |
| No. of Employees | 134 |
| Industry | Integrated Oil & Gas |
| CURRENT MARKET INFO | CXG > |
| COMPANY WEB SITE > | |
| Location | South Park, Pa. |
| Phone | 412 854-6719 |
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat
Related Articles
Cleaner Coal an Energy Option
Raymond James Starts CNX Gas at Strong Buy
Company Snapshot
CNX Gas engages in the exploration, development, and production of natural gas in the Appalachian Basin of the U.S. The company also develops coal-bed methane (CBM). It holds rights associated with CBM for 4.5 billion tons of proved coal reserves in northern Appalachia, central Appalachia, the Illinois Basin, and other western basins. As of Dec. 31, 2005, the company had the development rights to approximately 704,000 net CBM acres throughout the Appalachian Basin. In addition to its CBM operations, the company participates in two joint ventures that involve in conventional development opportunities on approximately 399,000 gross acres throughout the Appalachian Basin. As of Dec. 31, 2005, the company had 1,130.4 billion cubic feet equivalent of net proved reserves. As of the above date, it operated 1,862 net wells, 952 miles of gathering lines, and various compression stations. CNX Gas markets its gas to third party gas marketers and various other counterparties. The company's production partners include Columbia Natural Resources, LLC; New River Energy, LLC; Kelly Oil and Gas, Inc.; Excelsior Exploration Corporation; KWR Ventures, LLC; and Ceja. It also owns a 50% interest in an 88-megawatt, gas-fired electric generating facility in Virginia near its gas production facilities, through a joint venture with Allegheny Energy Supply. The company is based in South Park, Penn. CNX Gas is a subsidiary of CONSOL Energy, Inc.
Data provided by 
