Southpointe-based CNX Resources Corp. and Evolution Well Services announced Tuesday they have forged a three-year agreement for CNX to use one of Evolution’s 100 percent electric, natural gas-fueled, gas turbine-powered fracturing fleets.
This is the first long-term agreement for such a fleet in the Appalachian Basin. The companies began negotiating the agreement during the first quarter of 2018. Evolution is headquartered in The Woodlands, Texas.
“We’re excited to be a first-mover on something that could be a real game changer,” Tim Dugan, chief operating officer of CNX, said in a prepared statement. “This has the potential to be the next step change in the efficiency frontier.”
CNX said in a news release Evolution’s 56,000-hydraulic horsepower equipment can save operators up to 95 percent on fuel costs, while operating below the Environmental Protection Agency’s Tier 4 emission standards.