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CNX Resources Corporation (NYSE: CNX) is a leading independent natural gas exploration, development, and production company, primarily operating in the Appalachian Basin’s major shale formations. With over 150 years of legacy and a robust asset base, CNX focuses on organic growth and responsible resource development to create long-term value for shareholders, employees, and the communities in which it operates.
As of December 31, 2023, CNX had 8.74 trillion cubic feet equivalent of proved natural gas reserves, making it a significant player in the energy sector. The company is also a member of the Standard & Poor's Midcap 400 Index. CNX's core business operations include two primary segments: Shale and Coalbed Methane, with the Shale segment generating the maximum revenue.
CNX is committed to environmental sustainability and low carbon intensity in its operations. The company has been actively involved in innovative projects such as ZeroHP CNG and Clean mLNG, which leverage natural high gas pressures and advanced technologies to produce compressed and liquefied natural gas efficiently. These projects aim to reduce costs and environmental footprint significantly.
Recent achievements include substantial donations to the CNX Foundation by President and CEO Nick Deiuliis, aimed at supporting underserved rural and urban communities. The foundation focuses on impactful and local investments to foster community growth and opportunities.
Moreover, CNX has partnered with Chemstream Inc. to enhance operational transparency under the Radical Transparency initiative, ensuring comprehensive chemical additive disclosures. This collaboration aims to set new standards for public policy decisions around energy and environmental issues.
Financially, CNX has maintained a strong position despite market fluctuations. The company has strategically delayed certain projects to avoid oversupply and continue its disciplined capital allocation. CNX's operational and guidance updates reflect its adaptability and commitment to long-term value creation.
CNX is also actively developing proprietary technologies through its New Technologies business unit. This includes automated flowback systems in partnership with Deep Well Services, aiming to revolutionize flowback operations in the oil and gas industry.
For more information about CNX Resources Corporation, visit their website at www.cnx.com.
CNX Resources has released initial results from its Radical Transparency™ program, a public-private collaboration with Pennsylvania's government to monitor air emissions at natural gas well sites and compressor stations. After nine months of continuous monitoring, the data indicates that CNX's natural gas development poses no public health risk.
Key findings include:
- PM2.5 concentrations below NAAQS standards at all sites
- BTEX concentrations well below minimum risk levels
- Over 100,000 data measurements collected and reported
CNX urges industry peers to adopt similar transparency measures and criticizes the University of Pittsburgh Health Study for using loose statistical associations. The company aims to expand the program to cover all its unconventional operations, providing more data points across its operational footprint.
CNX Resources (NYSE: CNX) has released its financial and operational results for the second quarter of 2024. The company has made available its prepared remarks, earnings results, supplemental information, and presentation materials on its website. These documents include details on quarterly E&P data, production volumes, hedging information, financial statements, and non-GAAP reconciliations.
CNX will host a Q&A conference call on Thursday, July 25, at 10:00 a.m. ET. Investors can access the call via phone or webcast. A replay of the call will be maintained on the company's Investor Relations page.
CNX Resources will release its Q2 2024 financial results on July 25, 2024, at 6:45 a.m. Eastern Time. The company will provide prepared remarks, presentation materials, and supplemental information on its Investor Relations website.
A Q&A conference call will follow at 10:00 a.m. Eastern Time, accessible via domestic and international dial-in numbers or webcast. The call can be replayed later on CNX's Investor Relations page.
CNX Resources published its thirteenth Corporate Sustainability Report, highlighting its innovative Tangible, Impactful, Local ESG efforts.
The report emphasizes significant achievements, including a 30% reduction in methane intensity, 171,000 tons of methane CO₂e emissions cuts since 2020, and a $7 million investment in methane reduction.
Collaborating with Pennsylvania's government, CNX established real-time environmental monitoring, sharing data via CNXRadicalTransparency.com. They also invested over $19 million in water infrastructure and $5.6 million in community initiatives.
Additionally, they spent $347 million with local businesses and paid $45 million in taxes and fees. Workforce development includes a 35% increase in CNX Mentorship Academy participation. Corporate governance highlights include a 41% decrease in lost-time incidents.
On May 15, 2024, KeyState Energy, CNX Resources, and Pittsburgh International Airport announced a collaboration to develop a major hydrogen and sustainable aviation fuel (SAF) hub at PIT. The facility aims to produce up to 68,000 metric tons of hydrogen or 70 million gallons of SAF annually, and will tailor production to meet specific demands. The $1.5 billion project, supported by a Letter of Intent, anticipates creating 3,000 construction jobs, aiding the region’s decarbonization goals by 2030. SAF, derived from waste feedstocks, could replace traditional jet fuel at PIT, reducing emissions and cutting transportation costs. The collaboration seeks federal grants to study logistics and infrastructure for spreading SAF throughout the Northeast and Midwest.
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