Exploration & Production | Quarterly / Earnings Reports
National Fuel Finds Success in Marcellus Shale
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Seneca Resources Corporation, the wholly owned exploration and production subsidiary of National Fuel Gas Company reports that production volumes for the fiscal year’s fourth quarter ended September 30, 2013, totaled 33.2 billion cubic feet equivalent, a 35% increase over the prior year’s fourth quarter.
Total production for fiscal year 2013 was 120.7 Bcfe, which was a 45% increase over fiscal year 2012. Additionally, Seneca’s proved natural gas and crude oil reserves as of September 30, 2013, increased 24% to a record high of 1,549 Bcfe.
Production UpdateSeneca’s total production of 33.2 Bcfe, or 361 million cubic feet equivalent (“MMcfe”) per day, was driven by the continued success of Seneca’s Marcellus Shale development program in Lycoming County, Pa. Natural gas production increased…
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