Seneca Resources Completes Divestiture of California Properties
National Fuel Gas Company (NYSE: NFG) announced the successful sale of its California properties to Sentinel Peak Resources for net proceeds of approximately $241 million.
Sentiment and the balance of points
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Rhea-AI Summary
National Fuel Gas Company (NYSE: NFG) announced the successful sale of its California properties to Sentinel Peak Resources for net proceeds of approximately $241 million. This transaction is part of Seneca Resources Company, LLC, the exploration and production segment of National Fuel. The sale aims to strengthen the company’s financial position and focus on its core operations in natural gas and oil assets across various segments, including pipeline and storage.
Positive
- Received net proceeds of approximately $241 million from the sale.
- Strengthens financial position by divesting non-core assets.
Negative
- None.
Details
News Market Reaction – NFG
The recorded move for NFG in the trading session of this news was +2.44%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WILLIAMSVILLE, N.Y., June 30, 2022 (GLOBE NEWSWIRE) -- Today, Seneca Resources Company, LLC (Seneca), the Exploration and Production segment of National Fuel Gas Company (NYSE: NFG) (National Fuel or the Company), announced that it has closed the sale of the Company’s California properties to Sentinel Peak Resources California, LLC. The Company received net proceeds of approximately
About National Fuel Gas Company:
National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across four business segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. Additional information about National Fuel is available at www.nationalfuel.com.
Analyst Contact: Brandon Haspett | 716-857-7697
Media Contact: Karen Merkel | 716-857-7654
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