CNX Gas Named 2008 Platts Global Energy Awards Finalist:
Hydrocarbon Producer of the Year
Pittsburgh, PA- (October 1, 2008) - CNX Gas Corporation (NYSE:CXG) has been named a finalist for the 2008 Platts Global Energy Awards in the category “Hydrocarbon Producer of the Year.” 2008 marks the 10th anniversary of the Platts Global Energy Awards which annually recognize outstanding achievement and vision in the global energy industry.
“We are very proud of this recognition. The selection of CNX Gas is a tribute to our talented people who have consistently performed safely and set standards for technical innovation and environmental stewardship," said CNX Gas President and Chief Executive Officer Nicholas J. DeIuliis.
Over the past three years, CNX Gas has more than tripled its asset position while remaining the safest operator in the exploration and production industry, the lowest cost producer in the Eastern United States and the highest margin producer in the entire United States. CNX Gas is also the energy industry’s number one capturer of methane, a greenhouse gas with a global warming potential over 20 times that of carbon dioxide.
Mr. DeIuliis continued by saying, “I think our evolution from coal mining subsidiary to global leader in stand-alone coalbed methane development and transition to a full-fledged exploration and production company is evident.”
For the first and second quarters of 2008, CNX Gas achieved record performance both operationally and financially. Net income and production in the second quarter were the highest in its three-year history. Most important to the company, however, CNX Gas employees continued to work safely, having amassed more than 3.2 million consecutive man-hours without a lost-time incident.
The company and individual winners will be announced and honored at an event to be held Wednesday, December 3, 2008 in New York City.
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CNX GAS CORPORATION is an independent natural gas exploration, development, production and gathering company operating in the Appalachian and Illinois basins of the United States. CNX Gas is the leading Appalachian gas producer, by revenue, and believes it is the number one capturer of methane in the energy industry. CNX Gas recently joined the Chicago Climate Exchange as an offset provider and was named a semi-finalist by the Financial Times/Citi Private Bank in their first-ever Environmental Awards and a finalist in the Pittsburgh Technology Council’s Tech 50 Awards. Nicholas J. DeIuliis, President and Chief Executive Officer, received the Ernst & Young Entrepreneur of the Year® 2007 Award. CNX Gas has also been featured in such publications as Business Week, American Executive, Smart Business Pittsburgh, and the Pittsburgh Business Times. CNX Gas was recently listed as one of the Best Places to Work in the Pittsburgh Tribune Review.
Media Contact: Laural Ziemba, Manager of Public Relations (412) 638-6061
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