National Fuel
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| around 400,000 cubic feet per day. | around 400,000 cubic feet per day. | ||
| - | According to a May, 2009 report National was in the process of completing three new Marcellus wells with its joint venture partner EOG and was drilling four more Marcellus wells on its own. The same report indicated that the company had abandoned an 8,000 acre Marcellus lease that it won in a State of Pennsylvania auction for forest land because of pipeline right-of-way issues. It still retains 15,000 acres obtained in the same auction. It is building a 30 milr pipeline gathering system in Tioga and Lycoming Counties which hooks up to a major interstate pipeline. | + | According to a May, 2009 report National was in the process of completing three new Marcellus wells with its joint venture partner EOG and was drilling four more Marcellus wells on its own. The same report indicated that the company had abandoned an 8,000 acre Marcellus lease that it won in a State of Pennsylvania auction for forest land because of pipeline right-of-way issues. It still retains 15,000 acres obtained in the same auction. It is building a 30 mile pipeline gathering system in Tioga and Lycoming Counties which hooks up to a major interstate pipeline. |
| National has a pipeline system southeast of Rochester, NY which connects to the [[Millennium Pipeline]] in Chemung County, NY through the ''Empire Connector''. | National has a pipeline system southeast of Rochester, NY which connects to the [[Millennium Pipeline]] in Chemung County, NY through the ''Empire Connector''. | ||
Revision as of 15:40, 3 May 2009
Here is where some info about National Fuel should go. This article is still a stub and needs your attention. It does not have a template and contains minimal information. Please dive in and help it grow!
Amherst, New York-based National Fuel (NYSE: NFG) owns Marcellus shale drilling rights in Pennsylvania through a subsidiary known as Seneca Energy. It plans to drill there itself in 2009, but is also engaged in a joint venture with EOG Resources to develop the property. In the forth quarter of 2008 it added 24,000 acres in Lycoming and Tioga Counties, Pennsylvania to its leasehold.
The joint venture's first Marcellus well produced one million cubic feet of gas per day at first, but then production leveled out to around 400,000 cubic feet per day.
According to a May, 2009 report National was in the process of completing three new Marcellus wells with its joint venture partner EOG and was drilling four more Marcellus wells on its own. The same report indicated that the company had abandoned an 8,000 acre Marcellus lease that it won in a State of Pennsylvania auction for forest land because of pipeline right-of-way issues. It still retains 15,000 acres obtained in the same auction. It is building a 30 mile pipeline gathering system in Tioga and Lycoming Counties which hooks up to a major interstate pipeline.
National has a pipeline system southeast of Rochester, NY which connects to the Millennium Pipeline in Chemung County, NY through the Empire Connector.
- David Smith is President and CEO of National Fuel.
- Matthew D. Cabell is Chief of Oil And Gas Drilling and President of Seneca Energy.
- Ronald Tanski is Treasurer and CFO.
