National Fuel Gas Company reports news about an integrated natural gas business organized around Integrated Upstream and Gathering, Pipeline and Storage, and Utility operations. Its recurring updates cover operating and financial results, earnings calls, quarterly dividend actions, stockholder votes, and capital-structure matters tied to common stock and credit arrangements.
The company’s business disclosures connect Seneca natural gas exploration and development in the Appalachian region with midstream gathering, pipeline transportation and storage assets serving customers in the northeastern United States and Canada, and utility service in western New York and northwestern Pennsylvania.
IOG Resources II, LLC has acquired producing gas assets from Seneca Resources, a subsidiary of National Fuel Gas (NYSE: NFG). The acquired assets are located in Pennsylvania's Clearfield, Elk, and McKean counties, with a net production of approximately 17 million cubic feet per day (mmcfd). This acquisition marks IOGR II's initial investment, expanding its platform to include 13 investments across six core U.S. basins. The deal reflects IOGR II's strategy for onshore, non-operated oil and gas investments.
National Fuel Gas Company (NYSE:NFG) reported a strong fiscal 2022, with GAAP net income of $566 million ($6.15 per share), up 55% year-over-year. For Q4, net income reached $158.1 million ($1.71 per share), an 80% increase compared to last year. Adjusted EBITDA for the year was $1.2 billion, a 23% rise. The company increased dividends for the 52nd consecutive year to $1.90 per share. Fiscal 2023 guidance sees earnings between $6.40 to $6.90 per share, assuming average natural gas prices of $6.00 in the first half and $4.75 in the latter half.
National Fuel Gas Company (NYSE:NFG) will hold a teleconference on November 4, 2022, at 11 a.m. ET, to discuss its fourth quarter fiscal 2022 results. The call will feature management representatives including David P. Bauer (CEO) and Karen M. Camiolo (Treasurer). The session will include 20 minutes of prepared remarks followed by a Q&A session. Interested participants are encouraged to pre-register. Additionally, a replay will be available until November 11, 2022. For more information, visit the NFG Investor Relations website.
The National Fuel Gas Company (NFG) announced a quarterly dividend of 47.5 cents per share, set for payment on October 14, 2022, to shareholders on record as of September 30, 2022. The company has approximately 91.5 million shares outstanding and no preferred stock. National Fuel operates across four segments: Exploration & Production, Pipeline & Storage, Gathering, and Utility, signifying its diversified energy profile.
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NexTier Oilfield Solutions and Seneca Resources, part of National Fuel Gas Company (NFG), are set to deploy NexTier's first electric Emerald™ fracturing system in Q1 2023. This multi-year agreement aims to enhance fracturing performance while minimizing emissions and fuel costs. The electric fracturing fleet will operate at Seneca well sites in the Appalachian Basin, utilizing natural gas for power. This initiative aligns with Seneca’s sustainability goals to significantly reduce greenhouse gas emissions, demonstrating a commitment to lower carbon solutions in oilfield operations.
NexTier Oilfield Solutions (NYSE: NEX) and Seneca Resources (NYSE: NFG) revealed plans for deploying an electric Emerald™ fracturing system in early 2023. This multi-year agreement aims to optimize fracturing operations by lowering emissions and fuel costs. Utilizing natural gas for power generation, the Emerald system promises efficient performance with a reduced equipment footprint. Both companies emphasize the initiative's alignment with long-term sustainability goals and efficient operations.
Seneca Resources, the Exploration and Production segment of National Fuel Gas Company (NFG), announced that 100% of its natural gas production has received an 'A' certification under the MiQ Standard for Methane Emissions Performance. This certification reflects a commitment to reducing methane emissions, with over 1 billion cubic feet of daily gross production meeting high environmental standards. The MiQ Standard, developed by independent auditors, assesses methane emissions practices, demonstrating Seneca's proactive measures in sustainability and technology deployment to prevent methane leaks.
National Fuel Gas Company (NYSE:NFG) reported a strong third quarter for fiscal 2022, with GAAP net income of $108.2 million ($1.17 per share), a 24% increase year-over-year. Adjusted operating results soared to $141.9 million ($1.54 per share), a 66% increase. The company successfully sold its California assets for approximately $241 million, while revising fiscal 2022 earnings guidance to $5.85-$5.95 per share and initiating fiscal 2023 guidance at $7.25-$7.75. Continued strong natural gas production is expected, bolstered by an improved commodity price outlook.
National Fuel Gas Company (NYSE:NFG) will hold a teleconference on August 5, 2022, at 11 a.m. (ET) to discuss its third quarter fiscal 2022 results. The event will feature remarks from President & CEO David P. Bauer and other key executives, followed by a question-and-answer session. Interested participants must pre-register via the provided link to receive access details. The call will also be available for online listening and replay after the event until August 12, 2022. More information can be found on the National Fuel website.