CNX consists of two principal business divisions: Exploration and Production (E&P) and Midstream. The principal activity of the E&P Division, which includes four reportable segments, is to produce pipeline quality natural gas for sale primarily to gas wholesalers. The E&P Division's reportable segments are Marcellus Shale, Utica Shale, Coalbed Methane, and Other Gas. The Other Gas Segment is primarily related to shallow oil and gas production which is not significant to the Company due to the sale of substantially all of CNX's shallow oil and gas assets in the 2018 period (See Note 5 - Acquisitions and Dispositions for more information). It also includes the Company's purchased gas activities, unrealized gain or loss on commodity derivative instruments, exploration and production related other costs, as well as various other operating activities assigned to the E&P Division but not allocated to each individual segment.

CNX's Midstream Division's principal activity is the ownership, operation, development and acquisition of natural gas gathering and other midstream energy assets of CNX Gathering and CNXM, which provide natural gas gathering services for the Company's produced gas, as well as for other independent third-parties in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia. Excluded from the Midstream Division are the gathering assets and operations of CNX that have not been contributed to CNX Gathering and CNXM. As a result of the Midstream Acquisition (See Note 5 - Acquisitions and Dispositions for more information), CNX owns and controls 100% of CNX Gathering, making CNXM a single-sponsor master limited partnership and thus the Company began consolidating CNXM on January 3, 2018.

The Company's unallocated expenses include other expense, gain on asset sales related to non-core assets, gain on previously held equity interest, loss on debt extinguishment, impairment of other intangible assets and income taxes.

In the preparation of the following information, intersegment sales have been recorded at amounts approximating market prices. Operating profit for each segment is based on sales less identifiable operating and non-operating expenses. Assets are reflected at the division level for E&P and are not allocated between each individual E&P segment. These assets are not allocated to each individual segment due to the diverse asset base controlled by CNX, whereby each individual asset may service more than one segment within the division. An allocation of such asset base would not be meaningful or representative on a segment by segment basis.



	Marcellus Shale		Utica Shale		Coalbed Methane		Other Gas		Total E&P		Midstream		Unallocated			Intercompany Eliminations			Consolidated
Natural Gas, NGLs and Oil Revenue	$	179,142	$	50,042	$	35,621	$	246	$	265,051	$	—	$	—		$	—		$	265,051	(A)
Purchased Gas Revenue	—		—		—		29,192		29,192		—		—			—			29,192
Midstream Revenue	—		—		—		—		—		74,261		—			(55,736		)	18,525
Gain on Commodity Derivative Instruments	38,354		12,628		6,036		156,895		213,913		—		—			—			213,913
Other Operating Income	—		—		—		3,375		3,375		—		—			(59		)	3,316		(B)
Total Revenue and Other Operating Income	$	217,496	$	62,670	$	41,657	$	189,708	$	511,531	$	74,261	$	—		$	(55,795	)	$	529,997
Earnings Before Income Tax	$	41,014	$	18,220	$	8,717	$	83,279	$	151,230	$	41,741	$	(109	)	$	—		$	192,862
Segment Assets									$	7,087,782	$	2,178,073	$	16,668		$	3,735		$	9,286,258	(C)
Depreciation, Depletion and Amortization									$	111,839	$	8,620	$	—		$	—		$	120,459
Capital Expenditures									$	267,689	$	68,448	$	—		$	—		$	336,137



	Marcellus Shale		Utica Shale			Coalbed Methane		Other Gas			Total E&P		Midstream		Unallocated		Intercompany Eliminations			Consolidated
Natural Gas, NGLs and Oil Revenue	$	207,407	$	88,039		$	48,471	$	795		$	344,712	$	—	$	—	$	—		$	344,712	(D)
Purchased Gas Revenue	—		—			—		10,560			10,560		—		—		—			10,560
Midstream Revenue	—		—			—		—			—		61,372		—		(41,426		)	19,946
Gain (Loss) on Commodity Derivative Instruments	1,796		(151		)	605		15,755			18,005		—		—		—			18,005
Other Operating Income	—		—			—		3,969			3,969		—		—		(66		)	3,903		(E)
Total Revenue and Other Operating Income	$	209,203	$	87,888		$	49,076	$	31,079		$	377,246	$	61,372	$	—	$	(41,492	)	$	397,126
Earnings (Loss) Before Income Tax	$	64,408	$	41,237		$	9,642	$	(60,856	)	$	54,431	$	31,173	$	117,830	$	—		$	203,434
Segment Assets											$	6,256,132	$	1,883,134	$	82,696	$	(12,926	)	$	8,209,036	(F)
Depreciation, Depletion and Amortization											$	111,844	$	7,741	$	—	$	—		$	119,585
Capital Expenditures											$	253,263	$	44,202	$	—	$	—		$	297,465



	Marcellus Shale		Utica Shale		Coalbed Methane		Other Gas			Total E&P		Midstream		Unallocated			Intercompany Eliminations			Consolidated
Natural Gas, NGLs and Oil Revenue	$	709,656	$	208,206	$	125,094	$	906		$	1,043,862	$	—	$	—		$	—		$	1,043,862	(A)
Purchased Gas Revenue	—		—		—		64,181			64,181		—		—			—			64,181
Midstream Revenue	—		—		—		—			—		225,280		—			(169,417		)	55,863
Gain on Commodity Derivative Instruments	17,727		5,774		2,819		213,798			240,118		—		—			—			240,118
Other Operating Income	—		—		—		9,671			9,671		—		—			(235		)	9,436		(B)
Total Revenue and Other Operating Income	$	727,383	$	213,980	$	127,913	$	288,556		$	1,357,832	$	225,280	$	—		$	(169,652	)	$	1,413,460
Earnings (Loss) Before Income Tax	$	178,326	$	68,165	$	29,219	$	(42,650	)	$	233,060	$	118,739	$	(1,662	)	$	—		$	350,137
Segment Assets										$	7,087,782	$	2,178,073	$	16,668		$	3,735		$	9,286,258	(C)
Depreciation, Depletion and Amortization										$	349,620	$	24,999	$	—		$	—		$	374,619
Capital Expenditures										$	716,164	$	248,338	$	—		$	—		$	964,502



	Marcellus Shale		Utica Shale		Coalbed Methane		Other Gas			Total E&P		Midstream		Unallocated		Intercompany Eliminations			Consolidated
Natural Gas, NGLs and Oil Revenue	$	590,728	$	326,119	$	152,854	$	15,150		$	1,084,851	$	—	$	—	$	—		$	1,084,851	(D)
Purchased Gas Revenue	—		—		—		38,546			38,546		—		—		—			38,546
Midstream Revenue	—		—		—		—			—		186,875		—		(117,191		)	69,684
Gain on Commodity Derivative Instruments	1,411		746		330		76,265			78,752		—		—		—			78,752
Other Operating Income	—		—		—		23,355			23,355		—		—		(209		)	23,146		(E)
Total Revenue and Other Operating Income	$	592,139	$	326,865	$	153,184	$	153,316		$	1,225,504	$	186,875	$	—	$	(117,400	)	$	1,294,979
Earnings (Loss) Before Income Tax	$	155,923	$	143,830	$	35,164	$	(138,551	)	$	196,366	$	94,502	$	702,097	$	—		$	992,965
Segment Assets										$	6,256,132	$	1,883,134	$	82,696	$	(12,926	)	$	8,209,036	(F)
Depreciation, Depletion and Amortization										$	338,834	$	24,504	$	—	$	—		$	363,338
Capital Expenditures										$	708,660	$	85,464	$	—	$	—		$	794,124



	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2019		2018		2019		2018
Total Segment Revenue from Contracts with External Customers	$	312,768	$	375,218	$	1,163,906	$	1,193,081
Gain on Commodity Derivative Instruments	213,913		18,005		240,118		78,752
Other Operating Income	3,316		3,903		9,436		23,146
Total Consolidated Revenue and Other Operating Income	$	529,997	$	397,126	$	1,413,460	$	1,294,979



	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2019			2018			2019			2018
Segment Income Before Income Taxes for Reportable Business Segments:
Total E&P	$	151,230		$	54,431		$	233,060		$	196,366
Midstream	41,741			31,173			118,739			94,502
Total Segment Income Before Income Taxes for Reportable Business Segments	$	192,971		$	85,604		$	351,799		$	290,868
Unallocated Expenses:
Other (Expense) Income	(3,109		)	(1,105		)	(1,578		)	4,811
Gain on Certain Asset Sales	3,000			134,320			7,530			146,706
Gain on Previously Held Equity Interest	—			—			—			623,663
Loss on Debt Extinguishment	—			(15,385		)	(7,614		)	(54,433		)
Impairment of Other Intangible Assets	—			—			—			(18,650		)
Earnings Before Income Tax	$	192,862		$	203,434		$	350,137		$	992,965



	September 30,
	2019		2018
Segment Assets for Total Reportable Business Segments:
E&P	$	7,087,782	$	6,256,132
Midstream	2,178,073		1,883,134
Intercompany Eliminations	3,735		(12,926		)
Items Excluded from Segment Assets:
Cash and Cash Equivalents	5,484		42,672
Recoverable Income Taxes	11,184		40,024
Total Consolidated Assets	$	9,286,258	$	8,209,036