Late last week National Fuel Gas Company (NFG), the parent company of Marcellus/Utica driller Seneca Resources, issued its first quarter (everyone else’s fourth quarter) financial and operational update. NFG CEO and President Dave Bauer proclaimed, “Our team has done a great job cracking the code on our Utica development program” in Tioga County, PA. However, because of the ongoing pricemageddon with natgas prices in the basement, Seneca President John McGinnis said the company will drop to running a single rig for the balance of 2020.
Late last week National Fuel Gas Company (NFG), the parent company of Marcellus/Utica driller Seneca Resources, issued its first quarter (everyone else’s fourth quarter) financial and operational update. NFG CEO and President Dave Bauer proclaimed, “Our team has done a great job cracking the code on our Utica development program” in Tioga County, PA. However, because of the ongoing pricemageddon with natgas prices in the basement, Seneca President John McGinnis said the company will drop to running a single rig for the balance of 2020.