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National Fuel Gas Co. (NFG) is a diversified energy company headquartered in Western New York. With more than 1,800 employees, the company operates across four primary segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. This integrated structure allows NFG to manage natural gas assets from extraction to delivery efficiently.
Exploration and Production is a significant revenue driver for NFG, primarily through developing the Marcellus Shale. This segment focuses on finding and extracting natural gas, contributing to America's goal of energy independence.
The Pipeline and Storage segment is crucial for transporting and storing natural gas. NFG ensures the safe and reliable delivery of energy, maintaining a robust infrastructure that supports other segments and external customers.
Gathering involves collecting natural gas from production sites and transporting it to the main pipeline systems. This segment has received the EO100™ certification for its commitment to environmental, social, and governance (ESG) standards, highlighting its dedication to sustainable practices.
The Utility segment delivers natural gas to over 740,000 customers in New York and Pennsylvania, emphasizing safety, reliability, and excellent customer service. This division plays a vital role in the company's overall operations.
National Fuel is committed to responsible energy production and sustainability. Their recent achievements include obtaining EO100™ certification for their Midstream operations, underscoring their leadership in ESG standards. The company's comprehensive approach ensures long-term benefits for shareholders, employees, and communities.
NFG's financial health is robust, supported by a balanced portfolio and strategic partnerships. The company continuously adapts to market conditions and regulatory changes, aiming for sustainable growth and energy independence.
For more information, visit nationalfuel.com.
National Fuel Gas Company (NFG) reported a GAAP net income of $167.3 million for Q2 FY2022, equating to $1.82 per share, a 48% increase year-over-year. Adjusted earnings were $154.4 million, or $1.68 per share, reflecting a 25% rise. The company increased its fiscal 2022 earnings guidance to $5.70-$6.00 per share, driven by strong Appalachian natural gas production and higher commodity prices. Additionally, NFG plans to divest California assets for $280-310 million, enhancing financial flexibility.
National Fuel Gas Company (NYSE:NFG) has announced a teleconference to discuss its second quarter fiscal 2022 results. The call is scheduled for May 6, 2022, at 11 a.m. (ET), featuring President David P. Bauer and other executives. Participants must pre-register to join the call and will receive further instructions via email. The teleconference will also be available as a webcast on the company's investor website. An audio replay will be accessible from May 6 until May 13, 2022.
National Fuel Gas Company (NFG) announced leadership changes, including Michael Kasprzak's retirement as President of Midstream effective April 1, 2022, after over 40 years with the company. Justin Loweth, current President of Seneca Resources, will succeed him, aiming to enhance efficiency across both divisions. James Welch has been promoted to Vice President of Midstream. Additionally, Jeffrey Hart will retire in June, with Sarah Mugel overseeing Corporate Responsibility initiatives. Meghan Corcoran has been appointed General Manager of Corporate Responsibility, focusing on strengthening ESG practices.
The Board of Directors of National Fuel Gas Company (NFG) has declared a quarterly dividend of 45.5 cents per share, payable on April 15, 2022. Stockholders of record by March 31, 2022 will receive this dividend, impacting the approximately 91.4 million shares outstanding. Additionally, the company held its Annual Meeting, where stockholders approved management proposals including the election of new directors and the appointment of PricewaterhouseCoopers LLP as the independent auditor.
National Fuel Gas Company released its 2022 Climate Report, enhancing its ESG disclosures and aligning with the TCFD framework. The report emphasizes the company's resilience to climate change risks and outlines its commitment to the energy transition. President David P. Bauer articulated the role of natural gas in future energy needs and detailed the company's three-pronged approach to climate change: reducing emissions, advancing energy conservation, and embracing new technologies. The report covers the company's upstream, midstream, and downstream operations and is available online.
National Fuel Gas Company (NYSE: NFG) announced that Seneca Resources has achieved certification for approximately 300 million cubic feet per day of its Appalachian natural gas production under Project Canary’s TrustWell program. This certification arose from an assessment of 121 wells in Pennsylvania, earning 'Platinum' or 'Gold' ratings, indicating low methane emissions and effective water management. About 30% of National Fuel's production can now be marketed as Responsibly Sourced Gas (RSG), enhancing its marketability and demonstrating a commitment to sustainability.
National Fuel Gas Company has joined the Building the Clean Hydrogen Economy consortium to develop clean hydrogen pilot projects targeting heavy transport and renewables integration. Led by Guidehouse, the consortium aims to launch at least three pilots in the Southwest U.S., New York, and the Gulf region. The projects will stimulate clean hydrogen demand, facilitating a cost-competitive supply. Participation in this consortium aligns with the company's focus on incorporating low-carbon fuels into its infrastructure, crucial for achieving a net-zero economy.
National Fuel Gas Company (NYSE:NFG) reported impressive fiscal Q1 2022 results, with GAAP net income rising to $132.4 million ($1.44/share), up from $77.8 million ($0.85/share) a year prior. Adjusted operating income also surged 40% to $135.9 million ($1.48/share). Adjusted EBITDA reached $298.2 million, an 18% increase compared to last year. The E&P segment saw net production increase by 7% to 85.1 Bcfe, driven by higher natural gas and oil prices. The company revised its fiscal 2022 earnings guidance upwards to $5.20 to $5.50 per share.
National Fuel Gas Company (NYSE:NFG) will host a teleconference on Friday, Feb. 4, 2022, at 11 a.m. (ET) to discuss its first quarter fiscal 2022 results and provide operational updates. The call will be led by President and CEO David P. Bauer, along with other executives. Pre-registration is required for participants, and the conference will also be available via a webcast. An audio replay will be accessible from Feb. 4 to Feb. 11, 2022. Further details and registration can be found at National Fuel's investor website.
Seneca Resources Company, part of National Fuel Gas Company (NYSE: NFG), announced the certification of its Appalachian natural gas production, exceeding 1 billion cubic feet daily, under Equitable Origin’s EO100™ Standard for Responsible Energy Development. The certification was confirmed through a thorough audit by Geosyntec, emphasizing compliance with environmental, social, and governance (ESG) principles. This achievement highlights Seneca's commitment to sustainability, aiming to differentiate its low methane-intensity production in the market and meet rising demand for responsibly sourced natural gas.
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