Millennials Frack Marcellus/Utica Drillers into ESG Compliance
Pimple-faced Millennial investors have, seemingly overnight, drilled a hole and have fracked open large cracks throughout the upstream shale sector, particularly in the Marcellus/Utica. Millennial investors demand drillers bow down to the Climate Gods by incessantly repeating the phrase ESG over and over again. Nobody can actually define what ESG means, but sprinkle that phrase liberally throughout investor presentations and it’s like magic.
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Terms are often thrown around that remain somewhat amorphous and undefined in our minds. Especially in a complex industry like oil and gas. What do certain terms really mean? Today we define what a “clean frac”–otherwise known as a “green completion”–actually means, and why it’s so appealing to pimple-faced, woke millennials who place a premium on ESG (environmental, social, and governance) investing.
Just yesterday MDN told you that Chesapeake Energy had enrolled in the same program EQT Corporation previously enrolled in to certify its natural gas as “responsibly sourced” (see 
In January EQT Corporation announced it would partner with a Denver, CO company calling itself “Project Canary” to run a test on two of its shale gas pads, to prove the natural gas produces is “certified responsibly sourced” (see 
There’s a lot of gum-flapping about sustainability and Environmental, Social, and Governance (ESG) these days. It seems as if every upstream and midstream company has suddenly gotten the ESG religion. But at the end of the day, what does it actually mean? How do companies really effect positive change, not just talk about it? CNX Resources doesn’t just talk a good game. CNX is investing $30 million to focus on local, underserved communities and populations in the tri-state region. CNX is looking for real results, not just pretty slide shows to show investors.
A month ago MDN told you about some of the biggest drillers in the Marcellus/Utica announcing new or expanded ESG (environment, social, governance) programs during their quarterly updates (see 
Although we’ve heard about ESG (environment, social, governance) efforts by shale companies for years, it seems as though Marcellus/Utica drillers have only recently begun to get the ESG religion. In December we told you about an ESG panel discussion at Hart Energy’s DUG East event, normally held in Pittsburgh but virtual this year (see