National Fuel
From Wikimarcellus
Amherst, New York-based National Fuel Gas Co. (NYSE: NFG) is a diversified energy company with four main segments to its business: utility, pipeline and storage, exploration and production, and energy marketing. The company owns Marcellus shale drilling rights in Pennsylvania through a subsidiary known as Seneca Resources headquartered in Houston, Texas. It planned to drill in Pennsylvania on its own behalf during 2009, but also engaged in a partnership with EOG Resources to develop jointly-held property.
In the forth quarter of 2008 it added 24,000 acres in Lycoming and Tioga Counties, Pennsylvania to its leasehold.
The joint venture with EOG's first Marcellus well initally produced 1 Mmcf/d, but thereafter production leveled off to 400 Mcf/d.
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 retained 15,000 acres obtained in the same auction. It was in the process of building a 30 mile pipeline gathering system in Tioga and Lycoming Counties that connected to a major interstate pipeline.
National Fuel Gas Supply Corp, another wholly-owned subsidiary of National Fuel, maintains an extensive gas pipeline stretching 2,877 miles from southwestern Pennsylvania intersecting the U.S.-Canadian border at the Niagara River.
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.
Resources
National's exploration and production unit -Seneca Resources
