Pittsburgh-based CNX Resources Corp. and Evolution Well Services announced Wednesday they had agreed to a four-year extension of their current partnership.
The two companies entered into a long-term agreement in 2018 that would utilize Evolution’s 100 percent electric, natural gas-fueled, gas turbine-powered fracturing fleets for strategic basin development, specifically in the Appalachian basin. Since 2019, Evolution has provided electric fracturing technology to CNX, resulting in higher operational efficiencies, lower emissions and well cost savings, the companies said.
“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,” CNX Chief Operating Officer Chad Griffith said. “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. We’ll continue to improve the local environment, increase the quality of our execution, and mitigate ongoing inflationary cost risks with this important relationship.”
CNX, which recently was named ESG Top Performer by Hart Energy, said the partnership aligns with its goals to push the industry forward with tangible, impactful, local ESG investments. As part of the agreement, CNX and Evolution will introduce technologies that further reduce emissions with natural gas into hydraulic fracturing operations. Both companies said they are committed to investing in and partnering on innovations that utilize lower emissions natural gas and have a positive impact on local communities.
“Evolution is excited to extend our partnership with CNX. CNX was a first mover in the Appalachian 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’s President & CEO, Steven W. Anderson, stated. “This long-term commitment to extend our partnership demonstrates our team’s ability to consistently provide operational excellence while also reducing greenhouse gas emissions.”