CNX Resources Corp. on July 26 announced an agreement with Dynamis Power Solutions to introduce an electric-powered drilling system fueled entirely by on-site natural gas to the Appalachian Basin, according to a press release.
Pittsburgh-based CNX first entered a long-term agreement to develop a 100% electric hydraulic fracturing fleet in the Appalachian Basin with Evolution Well Services in 2018 and extended the agreement for another four years in April to continue producing sustainable energy in the region.
Through the partnership announced July 26, Dynamis' Gas Hybrid Drilling Package will eliminate diesel fuel consumption on pad by combining high efficiency continuous duty natural gas reciprocating power generation with battery energy storage technology. The system will help to decrease engine CO2 and NOX emissions, as well as optimize the complete power system operation.
"Dynamis is excited to deliver our engineered hybrid solution as a cleaner path to power in the drilling space," Dynamis CEO Matt Crawford commented in the release. "CNX is a trusted partner that aligns with our relentless pursuit of sustainable energy through disruptive technologies.
"Together, we are setting the sustainable and innovative standard for drilling power."
In addition to the electric system, CNX also announced in May a partnership with Pittsburgh International Airport to produce compressed natural gas and hydrogen on-site to create alternative fuel. Similarly, the Dynamis partnership will help transition the fuel mix to hydrogen-enriched natural gas to power the drilling system, reducing greenhouse gas emissions even further.
"Our partnership with Dynamis advances our position as the region's lowest cost producer, while continuing to drive meaningful environmental and community solutions in what is already the world's most prolific and environmentally friendly natural gas basin," CNX COO Chad Griffith said in the release.
Recommended Reading
SandRidge Recasts Management with New Chairman, CFO
2024-10-03 - SandRidge Energy has appointed Vincent Intrieri as chairman to succeed Jonathan Frates, who will transition to the role of executive vice president and CFO.
EQT to Cut Workforce 15% Following Close of Equitrans Acquisition
2024-10-02 - EQT Corp. closed its $5.5 billion all-stock buy of Equitrans Midstream Corp. on Sept. 22.
TC Energy Completes Spinoff of Liquids Pipeline Business South Bow
2024-10-01 - South Bow Corp. will commence trading on the Toronto Stock Exchange on Oct. 2.
No Shortage of Capital, Shortage of Investable Low-carbon Projects
2024-09-30 - Investors are looking to the bankability equation—sustainability plus guaranteed returns—and finding that the energy transition’s problem is not a shortage of capital, but a shortage of investable projects.
Dividends Declared Sept.16 through Sept. 26
2024-09-27 - Here is a compilation of dividends declared from select upstream, midstream and service and supply companies.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.