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National Fuel's Gas Production Up 10% from 2015
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National Fuel Gas Company has announced consolidated results for the second quarter of its 2016 fiscal year and for the six months ended March 31, 2016.
Highlights Impairment of oil and gas properties, after-tax, of $230.5 million, or $2.72 per share Production of 39.2 Bcfe, a 9.7% increase from prior year and 3.0% increase from the first quarter Price-related production curtailments of 9.1 Bcf in Appalachia, a 5.5 Bcf decrease from the first quarter Average natural gas and crude oil prices after hedging of $2.99 per Mcf and $53.01 per Bbl, respectively Weather 12% warmer than normal and more than 26% warmer than the prior year contributes to $6.9 million, or $0.08 per share, reduction in Utility segment earnings Upstream BusinessExploration and Production Segment
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