As featured in my CNX Gas (CXG) story is the Company’s capture of coalbed methane gas, which is eligible for carbon credits on the Chicago Climate Exchange. CNX Gas is the second-largest play on methane gas capture in the US behind Waste Management (WMI). As the only oil and gas company registered as an offset provider with the Chicago Climate Exchange, CNX Gas has already registered 8.4 million tons of carbon credits and expects future capacity to generate 2 – 3 million tons annually. As I have recently featured , these credits have commenced trading with a most recent print of $5.63 per ton – which values the Company’s existing portfolio of carbon credits at just under $50 million with another $10 - $15 million expected annually in new emission offsets. The accompanying table adds CNX Gas to my Global Carbon Trading Index for a total of 21 components.
$34.8 (08/25/08)
