Domino #1 Falls: NFG Closes Ohio Buy; Seneca Split Up Next?

The first domino has fallen. Last Thursday, National Fuel Gas Company (NFG) closed its purchase of CenterPoint Energy's Ohio natural gas utility, the Dayton-area company formerly known as Vectren Energy Delivery of Ohio. Why should Marcellus/Utica folks care about a utility deal in the Miami Valley? Because NFG's CEO told us several weeks ago that this closing clears the way to split off Seneca Resources, NFG's drilling arm, into its own separate company (see Seneca Resources Going Solo? NFG Board to Decide Spinoff by Oct 15). NFG's board says it will make the call by October 15, which is just 10 days from now.

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