National Fuel Gas Co. (NFG) exploration and production subsidiary Seneca Resources Corp. plans to cut spending next year and slow its operations in the Appalachian Basin as the natural gas outlook remains bleak.
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National Fuel Gas Co. (NFG) said Friday that it’s upstream subsidiary, Seneca Resources Corp., expects year/year production to increase by 24% in fiscal year (FY) 2019, which begins in October, as it will run three rigs and take advantage of the new 190 MMcf/d capacity that’s expected to become available later this month when the Atlantic Sunrise pipeline project comes online.
Gamco Asset Management Inc., an investment group led by activist investor Mario Gabelli, again is pushing National Fuel Gas Co. (NFG) to extract more value from its utility segment, according to a regulatory filing on Friday.
National Fuel Gas Co. (NFG) is forecasting a decrease in earnings for fiscal year (FY) 2018, which began last month, primarily as a result of lower anticipated commodity prices for its upstream business segment.
National Fuel Gas Supply Corp. and Empire Pipeline Inc. have requested that FERC reconsider its Feb. 3order approving the Northern Access expansion project to clarify that the companies don’t need permits from the New York State Department of Environmental Conservation (NYSDEC) to begin construction.
National Fuel Gas Co.’s (NFG) exploration and production (E&P) subsidiary Seneca Resources Corp. gained ground during its fiscal 2017 first quarter when better Appalachian spot prices allowed it to open wells and get more production flowing. But it needs more pipeline capacity to keep the momentum.
National Fuel Gas Co. (NFG) subsidiary Seneca Resources Corp. said Monday that it would extend its joint venture (JV) agreement with an affiliate of Dallas-based IOG Capital LP across 10,500 acres in Northern Pennsylvania, further reducing this year’s exploration and production budget.