CONSOL Energy (NYSE: CNX) reported Q1 EPS of $0.17, $0.07 better than the analyst estimate of $0.10. Revenue for the quarter came in at $698.7 million, versus $641.31 million reported last year.

E&P Division Guidance:

CONSOL Energy is increasing its E&P Division production guidance for 2017 and 2018 to approximately 420-440 Bcfe and 490-520 Bcfe, respectively, compared to previous guidance of 415 Bcfe and 485 Bcfe. The increase in production guidance is driven primarily by two factors: improved cycle times resulting in more production over a longer period of time, and type curve optimization in the Morris and Switz operating areas through changes to the production protocol resulting in holding production flatter for a longer period of time. The increase in production assumes no change to previously announced total E&P capital expenditures in 2017 and 2018 of approximately $555 and $600 million, respectively.

CONSOL Energy continued its programmatic hedge program to further build out NYMEX and basis hedges through 2021. Total hedged natural gas production in the 2017 second quarter is 76.1 Bcf. The annual gas hedge position is shown in the table below:

For earnings history and earnings-related data on CONSOL Energy (CNX) click here.