CNX Resources Corp. and Evolution Well Services on April 26 extended their current electric fracturing (e-frac) partnership in Appalachia by four years.
The companies originally began their partnership in June 2018 with Evolution providing a 56,000 hp, 100% electric fracturing fleet. The partnership between the two companies was the first long-term contract seen in the Appalachian Basin for natural gas-fueled, gas turbine-powered fracturing fleets, according to a CNX press release.
"When we began working with Evolution, we knew this was the next step change on the efficiency frontier that has contributed to CNX being the lowest cost operator in the Appalachian Basin. Four years later, with the safety, environmental and efficiency benefits clearly demonstrated, we are pleased to enter into another long-term contract that provides certainty in an uncertain supply chain world that is disrupting all facets of our economy," CNX COO Chad Griffith said in the release.
Since 2019, Evolution has provided its industry leading electric fracturing technology to CNX, resulting in higher operational efficiencies, lower emissions and significant well cost savings. As shown by CNX's 2021 ESG Top Performer Award by Hart Energy, this partnership aligns with CNX's goal to push the industry forward with tangible, impactful, local ESG investments.
As part of this agreement, both companies are introducing technologies that will further reduce emissions with natural gas into hydraulic fracturing operations. They are committed to investing in and partnering on innovations that benefit the region utilizing lower emissions natural gas coupled with a positive impact on the local communities.
"CNX was a first mover in the Appalachia region to commit long term to our technology and has continually experienced the step change in benefits in support of their strategic operational and ESG goals," Evolution President and CEO Steven W. Anderson commented. "This long-term commitment to extend our partnership demonstrates our team's ability to consistently provide operational excellence while also reducing greenhouse gas emissions."
Based in Canonsburg, Pa., CNX independent natural gas development, production and midstream company with operations centered in the Marcellus and Utica shales, both major shale formations of the Appalachian Basin. As of year-end 2021, CNX had 9.63 Tcfe of proved natural gas reserves.
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