CNX Resources Corporation is an American natural gas company based in

Pittsburgh Pittsburgh ( ) is a city in Allegheny County, Pennsylvania, United States, and its county seat. It is the List of municipalities in Pennsylvania#Municipalities, second-most populous city in Pennsylvania (after Philadelphia) and the List of Un ...

with operations in the

Appalachian Basin The geology of the Appalachians dates back more than 1.2 billion years to the Mesoproterozoic era when two continental cratons collided to form the supercontinent Rodinia, 500 million years prior to the development of the range during the form ...

, primarily in the

Marcellus Shale Marcellus may refer to: People * Marcellus (name) * Marcellus of Ancyra, fourth-century Christian bishop and theologian * Marcus Claudius Marcellus, Roman commander * Marcellus of Tangier * Marcellus Empiricus * Marcellus (nephew of Augustu ...

and

Utica Shale The Utica Shale is a stratigraphic unit of Upper Ordovician Geochronology, age in the Appalachian Basin. It underlies much of the northeastern United States and adjacent parts of Canada. It takes the name from the city of Utica, New York, as it ...

in Pennsylvania, Ohio and West Virginia. It also develops

coalbed methane ''Coalbed methane'' (CBM or coal-bed methane), coalbed gas, or coal seam gas (CSG) is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, Australia, and other co ...

properties in Virginia along with a methane capture and abatement program. The company also has extensive midstream operations and is one of the largest producers of natural gas in the United States.

History

1860 to 2017

CNX Resources traces its roots to Consolidation Coal Company, a coal mining company founded in 1860. Dupont and Rheinbraun A.G. formed a joint venture in 1991. In May 1999, the company became a

public company A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) co ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

. In 2010, the company moved its headquarters to

Cecil Township, Washington County, Pennsylvania Cecil Township is a township in Washington County, Pennsylvania, United States. It is a suburb in the Pittsburgh metropolitan area. The population was 14,609 at the 2020 census. The township contains the Southpointe suburban business park; com ...

. The company also acquired the natural gas business of

Dominion Resources Dominion Energy, Inc., commonly referred to as Dominion, is an American energy company headquartered in Richmond, Virginia that supplies electricity in parts of Virginia, North Carolina, and South Carolina and supplies natural gas to parts of Ut ...

in 2010, which increased its drilling properties and made it one of the largest natural gas production companies in the Marcellus Shale formation. In 2017, the company completed the

corporate spin-off A corporate spin-off, also known as a spin-out, starburst or hive-off, is a type of corporate action where a company "splits off" a section as a separate business or creates a second incarnation, even if the first is still active. It is distinct ...

Consol Energy Consol Energy Inc. is an American energy company with interests in coal headquartered in the suburb of Cecil Township, in the Southpointe complex, just outside Pittsburgh, Pennsylvania. It employs more than 1,600 people. In 2017, Consol form ...

and changed its name to CNX Resources Corporation. Nicholas (Nick) J. Deiuliis, who was the President and CEO of Consol, continued in those same roles at CNX.

2018 to 2021

In January 2018, the company purchased a 50% interest in CONE Gathering LLC from

Noble Energy Noble Energy, Inc. was a company engaged in hydrocarbon exploration headquartered in Houston, Texas. In October 2020, the company was acquired by Chevron Corporation. The company was known as Noble Affiliates, Inc. until 2002. As of December ...

. That year CNX entered a long-term agreement with Evolution Well Services to develop a 100% electric hydraulic fracturing fleet in the Appalachian Basin. The agreement was extended in April 2022. In 2020 CNX acquired all outstanding common shares of CNX Midstream Partners LP. In 2021, the company created the CNX Foundation to administer its $30 million commitment to help those in the Appalachian Basin region achieve economic success. CNX also created a mentorship academy for high schoolers in disadvantaged rural and urban areas. The focus is on exposing students to career opportunities and ensuring they secure a job or apprenticeship by their high school graduation. Under the program, the students meet once a month, attend field visits with various regional employers, and have on-site visits and guest speakers. There is also coaching focused on resume creation, job interviews, civics and business, and dressing for success. The Bus Stops Here Foundation and the Builders Guild of Western Pennsylvania are original partners in the program. CNX CEO Nick Deiuliis contributed $1 million of his 2022 compensation to support the academy and proceeds from his book ''Precipice'' are also supporting the academy. As of July 2022, the CNX Foundation had provided a $1 million grant to bring broadband to Greene County, $400,000 in career training, and $200,000 for technology needs in disadvantaged school districts with the Jerome Bettis Cyber Bus Project. In addition to the Foundation, CNX works with local communities through programs like Domestic Violence Services and Food Helpers.

2022 to present

In May 2022, CNX partnered with the Pittsburgh International Airport (PIT) to produce alternative fuels and electricity from natural gas wells that CNX operates on airport property. PIT sits atop shale formations including the Utica and Marcellus, a natural gas reserve that runs under parts of New York, Pennsylvania, Ohio, West Virginia, Maryland, and Virginia. CNX can produce compressed natural gas (CNG) onsite to fuel land fleet transportation, and liquefied natural gas (LNG) for various purposes. CNX started partnering with PIT in 2013 and began drilling natural gas wells in 2014. As of 2022, the partnership has supported a 5-generator, 20 MW micro-grid powered by natural gas, and a 3 MW solar array that provides 100% of the airport's electricity needs. In May 2022, CNX announced a partnership with Pittsburgh International Airport to produce compressed natural gas and hydrogen onsite to create alternative fuel. In July, the company announced two other large deals: one with NewLight Technologies and the other with Dynamis. Under the NewLight deal, CNX committed to supply ultra-low carbon intensity methane as feedstock for the production of biomaterials for 15 years. As for Dynamis, CNX partnered with the company to bring the first electric-powered drilling rig to the Appalachian Basin. The rig is fueled by onsite natural gas via high efficiency continuous duty natural gas reciprocating power generation, as well as battery energy storage technology. In 2023, the CNX Foundation donated $1 million to help establish a substance recovery unit at Penn Highlands Mon Valley Hospital. The Foundation also donated $1 million for broadband access for just over 100 homes and businesses in Greene County, Pennsylvania. In April of that year, CNX and Sapphire Technologies announced a plan to develop a FreeSpin In-line Turboexpander creating clean, or zero-emission, electricity by tapping into pressures used in producing natural gas. In November, CNX announced a collaboration with the state of Pennsylvania. CNX volunteered to be the first company to offer “radical transparency” regarding its safety measures. This includes collecting and reporting real-time data on air emissions and water quality at 9 sites (three additional pending) and two well pads, disclosing all chemical use, and expanding buffer zones. In 2023 and again in 2024, CEO Nick Deiuliis donated an additional $1.5 million of his compensation to the academy in 2023 and again in 2024 bringing his total donation to $4 million. In April 2024, CNX and Deep Well Services launched a new oilfield services joint venture company, AutoSep Technologies. The company will provide automated conventional flowback operations to the oil and gas industry. It is part of the CNX New Technologies unit. Another initiative under this unit is CNX’s work with NuBlu Energy to start producing lower-carbon compressed natural gas and liquefied natural gas. In May 2024, CNX and KeyState Energy signed a letter of intent for a project that would make sustainable, hydrogen-based aviation fuel at Pittsburgh International Airport from coal-mine methane gas. The formal approval of the project depends on the approval of federal hydrogen production tax credits under the Inflation Reduction Act of 2022.

Methane Abatement

The company's methane abatement program captures methane released from coal and the surrounding rock strata from mining activities.

Coalbed methane ''Coalbed methane'' (CBM or coal-bed methane), coalbed gas, or coal seam gas (CSG) is a form of natural gas extracted from coal beds. In recent decades it has become an important source of energy in United States, Canada, Australia, and other co ...

is a greenhouse gas emitted from both active and closed (or abandoned) underground and surface coal mines that would be emitted to atmosphere if not for capture and abatement programs. To further reduce gas emissions, CNX was the first driller in the Appalachian Basin region to eliminate diesel engines from their hydraulic fracturing fleet and switched to all-electric.

Awards and recognition

In 2020 and 2022, CNX Resources was named to

Newsweek ''Newsweek'' is an American weekly news magazine based in New York City. Founded as a weekly print magazine in 1933, it was widely distributed during the 20th century and has had many notable editors-in-chief. It is currently co-owned by Dev P ...

's annual "America's Most Responsible Companies" list. In 2021, the company received an ESG Top Performer award from Hart Energy. CNX also received the Washington County Community Foundation's Charles C. Keller Excellence Award for Corporate Philanthropy.

External links

Official website

Radical Transparency

References

{{DEFAULTSORT:Oil And Natural Gas Corporation Natural gas companies of the United States Companies based in Pittsburgh Companies listed on the New York Stock Exchange Companies in the S&P 400 Non-renewable resource companies established in 1860