Core Values, Corporate Responsibility and the Future of our Business
From our corporate office in Southpointe to our operations throughout the tri-state region, the first half of 2018 at CNX has been a period of significant foundation building across every aspect of the company as we have worked to define our new identity and articulate the unique value of our organization within the natural gas exploration and production space.
As many of you know, this pursuit of differentiation has not just been limited to our balance sheet or our well results, but has also extended into our footprint in the communities where we live and work. Taking our cues from our storied 154-year legacy in Appalachia, CNX is shaping a new path as a partner in our communities, drawing from the past while also simultaneously modernizing for the future.
Just like the rest of our business, our approach to corporate responsibility has been sharpened by our mission of innovating and delivering value to our stakeholders and underpinned by our core values—responsibility, ownership and excellence.
While many associate the concept of corporate responsibility with merely "being safe" or "being compliant" within the letter of the law, the depth of those commitments is not enough in a 21st century economy where our businesses and communities must work together. And while many talk about the concept of corporate responsibility, at CNX, it is not a “check the box” exercise. Instead, we view these efforts as a strategic tool in helping to prime our company for the challenges and opportunities that lie ahead. Tying back to our mission, we firmly believe that corporate responsibility and our NAV per share-driven approach go hand-in-hand.
The safety of our employees and our communities must and will always come first. And being good stewards of the environment and a responsible corporate citizen will likewise never waver. But we need to drill a little deeper, go the extra mile, put in the discretionary effort to ensure that the vast societal benefits of the work we do can continue to help shape the next generation of American life.
Positioning ourselves as a disruptor in the industry has pushed us to be accountable in every dimension of our business strategy, and being a responsible operator in every sense of the word remains at the forefront of the decisions our leadership and employees are making each day.
That is why we recently announced the first long-term agreement for a 100 percent electric fracturing fleet in the Appalachian Basin. More gas, more economically with a smaller and smaller environmental footprint—exactly the kind of disruption we are focused on—and that disruption begins and ends with our core values and commitment to corporate responsibility.
Looking forward, we will continue to bring our mindset of disruption, commitment to our ownership culture and dedication to the concept of excellence to bear on our vital role as a responsible corporate citizen. We will continue to push the envelope in this space, just as we are in every other facet of our business.
We are proud to be part of an industry that will lead our region, our nation and our world into the next generation. And we must ensure that the public at large understand and appreciates the vast economic and environmental benefits of natural gas.
The future is exciting because of the culture and mindset our employees bring to the field and the office daily, and I look forward to sharing more success stories with you in the months and years ahead.
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