Operational Updates
National Fuel Reports Third Quarter Marcellus Results
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National Fuel Gas Company (“National Fuel” or the “Company”) (NYSE:NFG) today announced consolidated earnings for the third quarter of fiscal 2012 and for the nine months ended June 30, 2012.
Exploration and Production Segment
The Exploration and Production segment operations are carried out by Seneca Resources Corporation (“Seneca”). Seneca explores for, develops and produces natural gas and oil reserves in California and Appalachia. Seneca completed the sale of its offshore Gulf of Mexico assets in April 2011.
The Exploration and Production segment’s earnings in the third quarter of fiscal 2012 of $21.9 million, or $0.26 per share, decreased $10.9 million, or $0.13 per share, when compared with the prior year’s third quarter.
In February 2012, the Commonwealth of Pennsylvania passed…
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