Seneca Resources Reports Production Up 35% Thanks to Marcellus

Seneca Resources, the drilling arm of National Fuel Gas Company, issued their fiscal 4th quarter (everyone else’s calendar 3rd quarter) operations update yesterday. Seneca is one of the major drillers in the Marcellus Shale in Pennsylvania. They report production for 4Q was up a very healthy 35% over the same period last year. They credit their Marcellus drilling program in Lycoming County, PA for that success.

Because of their success, Seneca has revised up their guidance (best guess) for how much natural gas they’ll produce this fiscal year–to 145-165 billion cubic feet (Bcf). The full report from Seneca, including initial production rates from some of their recently drilled wells…

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