Shale Gas Producer CNX Resources Achieves Net Carbon Negative Status

CNX Resources reported it is net carbon negative for Scope 1 and 2 emissions—unique in the natural gas upstream and midstream sectors, according to the shale gas producer.

Hart Energy Staff
Shale Gas Producer CNX Resources Achieves Net Carbon Negative Status

In 2020, CNX Resources also recycled 99.6% of produced water in the company’s core operating area, which are centered in the major shale formations of the Appalachian Basin. (Source: CNX Resources Corp.)

CNX Resources Corp. released its 2020 corporate responsibility report on July 22 announcing its net carbon-negative achievement, a rarity for the oil and gas industry, the shale gas producer’s top executive said, despite the current ESG buzz.

“Many in the energy industry and capital markets continue to speak in the abstract and distant future about ESG, sustainability, resiliency, carbon intensity and the industrial logic of consolidation,” commented CNX President and CEO Nick DeIuliis in a company release.

However, according to DeIuliis, CNX pursues a different path, which is “one that prioritizes the development of our extensive existing asset base over further scale, and that focuses on transparency, measurable outcomes, current and nearer term deliverables, and long-termism defined by growing per-share intrinsic value.”

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