Late last week National Fuel Gas Company (NFG), the parent company of Marcellus/Utica driller Seneca Resources, issued its second-quarter (everyone else’s first quarter) financial and operational update. The company’s natural gas production increased 10.7 billion cubic feet (Bcf), up 24%, due primarily to production from new Marcellus and Utica wells completed and connected to sales. The production increase is all the more impressive because Seneca curtailed (shut-in) 2.7 Bcf of natural gas production during the quarter due to lower spot prices at sales points in Pennsylvania.
Late last week National Fuel Gas Company (NFG), the parent company of Marcellus/Utica driller Seneca Resources, issued its second-quarter (everyone else’s first quarter) financial and operational update. The company’s natural gas production increased 10.7 billion cubic feet (Bcf), up 24%, due primarily to production from new Marcellus and Utica wells completed and connected to sales. The production increase is all the more impressive because Seneca curtailed (shut-in) 2.7 Bcf of natural gas production during the quarter due to lower spot prices at sales points in Pennsylvania.