CNX Resources Corporation and Evolution Well Services ("Evolution") are pleased to announce a four-year extension of their current partnership.
CNX Chief Operating Officer Chad Griffith commented, "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. We'll continue to improve the local environment, increase the quality of our execution, and mitigate ongoing inflationary cost risks with this important relationship."
In 2018, Evolution and CNX began negotiating a long-term agreement to utilize Evolution's 100 percent electric, natural gas-fueled, gas turbine-powered fracturing fleets for strategic basin development. Those negotiations yielded the first long-term contract in the Appalachian basin for this game-changing technology.
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 recent 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, CNX and Evolution are introducing technologies that will further reduce emissions with natural gas into hydraulic fracturing operations. Both companies 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.
Evolution's President & CEO, Steven W. Anderson, stated, "Evolution is excited to extend our partnership with CNX. 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. This long-term commitment to extend our partnership demonstrates our team's ability to consistently provide operational excellence while also reducing greenhouse gas emissions."