CNX Releases 2019 Corporate Responsibility Report
Highlights conviction that best-in-class performance and delivering responsible value go hand in hand
PITTSBURGH, Aug. 5, 2020 /PRNewswire/ -- CNX Resources Corporation (NYSE: CNX) today announced the release of its annual Corporate Responsibility Report. The report details Company execution against the Global Reporting Initiative (GRI) Core Option and outlines activities and initiatives undertaken during the past year toward the Company's comprehensive corporate responsibility goals.
CNX President and Chief Executive Officer Nick DeIuliis commented, "With a deepening focus on environmental, social, and governance (ESG) issues by external stakeholders, we continue to highlight the internal, proactive measures we have and continue to adopt that have propelled our status as one of the most innovative and responsible companies in the E&P space. The 2019 CRR builds on our belief that a steadfast, relentless commitment to best-in-class safety and environmental compliance increases efficiencies, reduces costs, improves margins, and, ultimately, drives long-term intrinsic value per share. We heavily favor measurable, tangible performance metrics over abstract, aspirational goals."
Following are key highlights included in the 2019 report:
- Culture: Our safety culture is ingrained in every CNX employee and contractor. No job or activity is considered a success if we compromise the safety of our employees, service providers, neighbors, or environment. We are proud of achieving an Employee Total Recordable Incident Rate of zero in 2019 compared to the recently published OSHA industry average for oil and gas extraction of 0.8 in 2018.
- Stewardship: Continuously improving the efficiency of our business aligns with our vision to be a leader in environmental stewardship. A prime example is our results from the partnership with the Evolution Well Services frac fleet. Because of our exclusive focus on advanced electric frac technologies, we have driven efficiencies to new levels in terms of the length of time needed to complete a well which, in turn, has significantly reduced our measurable emissions, employee exposure hours, and noise pollution by utilizing the companies' innovative technologies, powered directly from on-site natural gas.
- Performance: This report highlights how new technologies; innovative practices and a collaborative team drives the success of CNX. The team's vision for excellence increases our ability to reach new heights both in the office and in the field. In 2019, CNX drilled the longest lateral in our history and implemented processes that allow for the team to increase efficiency.
- Community: As one of America's oldest and most storied energy companies, we greatly value the communities in which we have lived and operated for generations. The concentrated Appalachian footprint that we call home, and those communities within, have given us, in some cases, three and four generations of families who have been part of our team. In 2019, CNX was honored to receive the Corporate Citizen Award from the Pittsburgh Business Times in recognition of our numerous community contributions, many of which are highlighted in this report.
To learn more, please visit: https://www.cnx.com/responsibility
About CNX Resources Corporation
CNX Resources Corporation (NYSE: CNX) is one of the largest independent natural gas exploration, development and production companies, with operations centered in the major shale formations of the Appalachian basin. With the benefit of a more than 150-year legacy and a substantial asset base amassed over many generations, the company deploys an organic growth strategy focused on responsibly developing its resources in order to create long term value for its shareholders, employees and the communities where it operates. As of December 31, 2019, CNX had 8.43 trillion cubic feet equivalent of proved natural gas reserves. The company is a member of the Standard & Poor's Midcap 400 Index. Additional information may be found at www.cnx.com.
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SOURCE CNX Resources Corporation