Operational Updates
National Fuel Announces That A Marcellus Joint Venture Not Likely
Print
|
Today at the quarterly earnings teleconference of National Fuel Gas Company (NYSE:NFG), Chief Executive Officer David F. Smith will make the following statement about the possibility of a joint venture (JV) involving the Marcellus Shale assets of its subsidiary Seneca Resources Corporation:
"That brings me to an update on a potential joint venture. Our future growth prospects - and the fact that we're not capital constrained or up against a schedule of lease expirations - sets a pretty high bar. As a result, while we have been relatively close with two different parties over the last two or three months, we ultimately chose not to consummate either of those particular transactions. While they were good and serious offers - we determined that they just weren't good enough. And while…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations