Exploration & Production | Drilling / Well Results | Top Story | Capital Markets | Capital Expenditure
Seneca Upsizing Spending in 2014; Talks Latest in Marcellus Success
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National Fuel Gas Company's wholly-owned exploration and production subsidiary, Seneca Resources Corporation, today provided an operational update and announced initial results from its first Geneseo Shale well located in Lycoming County, Pa.
The Company also confirmed its capital expenditure and production guidance ranges for fiscal years 2014 and 2015.
Production GuidanceThe Company is reiterating its production forecast range for the entire 2014 and 2015 fiscal years of 145 to 165 billion cubic feet equivalent and 180 to 220 Bcfe, respectively. At the midpoint of these forecasted ranges, production growth for each of fiscal 2014 and 2015 is estimated to be 28% and 29%, respectively.
Firm Sales UpdateFor the last nine months of fiscal 2014, at the midpoint of the current guidance…
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