NFG Building Pipe to Feed Shippingport Power Station in Beaver, PA

National Fuel Gas Company (NFG), headquartered in Buffalo, NY, is the parent company for Marcellus/Utica driller Seneca Resources and the parent of midstream company NFG Midstream (and subsidiary Empire Pipeline). Last week, NFG issued its latest quarterly update, which is the company's fiscal 3rd quarter (but everyone else's 2nd quarter). The update was loaded with good news for Seneca and NFG's midstream sector. We learned that the company has been retained to build a 7-mile pipeline expansion off the company's Line N system in Western PA, called the Shippingport Lateral Project, to feed natural gas to the Shippingport Power Station, announced in July (see Frontier Group Converting Coal to Gas-Fired Plant, NatGas from EQT). The report also shows M-U driller Seneca will spend 4% less on capital expenses yet produce 6% more natural gas this year. Seneca produced a record-high amount of natural gas during the quarter!

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