National Fuel

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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.

Through National Fuel Gas Supply Corp, the company's pipeline and storage unit, it announced in August, 2009 that it planned to build a new pipeline as well as compression plants along its existing right-of-way to serve Pennsylvania Marcellus shale producers. The construction was to proceed in two phases:

1. A new 32 mile pipeline through Elk, Cameron and Clinton Counties to the Leidy storage hub located in northcentral Pennsylvania. This pipeline was to transport roughly 200,000 dekatherms per day (dth/d). It was planned to go in service by November, 2011.
2. A new 50 mile pipeline with a capacity of a minimum of 300,000 dth/d extending the above facilities through Clearfield and Jefferson Counties to western Elk County where it was to connect with Supply Corp.'s Line K. It was slated to go in service by November, 2012.

National also 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.