National Fuel Gas Co. Sittin’ Pretty with Record-High Profits
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 year 4th quarter (but everyone else’s 3rd quarter). According to NFG CEO David Bauer, the company added 220 new Upper Utica locations during the quarter, extending the well inventory to “almost 20 years” that will be profitable at a NYMEX price under $2/MMBtu. Bauer also stated the company recently executed a new pipeline deal with an unnamed shipper to haul an extra 250 MMcf/d of Seneca’s molecules from Tioga County, PA, to premium markets, with an expected in-service date of late 2028. Read More “National Fuel Gas Co. Sittin’ Pretty with Record-High Profits”
Pennsylvania’s Attorney General, Dave Sunday, pretends to be a Republican, but he’s really a Democrat. He’s also anti-shale, as evidenced by a wild attack against Seneca Resources launched on Friday. Sunday’s office filed three separate criminal complaints against Seneca, charging the company with 64 counts of criminal violations of the Solid Waste Management Act and 36 counts of criminal violations of the Clean Streams Law. Sunday, like his left-wing predecessors, is turning what should be regulatory enforcement actions into crimes. No wonder some drillers are saying “screw you” to Pennsylvania and moving their drilling operations to West Virginia and Ohio. 
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The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC published a notice in the August 23 Pennsylvania Bulletin that the Executive Director of the SRBC renewed 57 general water use permits in June and July for individual shale gas well drilling pads in Bradford, Clearfield, Lycoming, Sullivan, Susquehanna, Tioga, and Wyoming counties in Pennsylvania. So far in 2025, the SRBC has issued or renewed 282 general water use permits for shale gas development. 
EY, previously known as Ernst & Young, is a multinational professional services network (i.e., consulting firm) based in London. EY is also one of the “big four” largest accounting firms in the world. EY published a new study last week titled “US Oil and Gas Reserves, Production and ESG Benchmarking Study” (full copy below). The study found that due to mergers and acquisitions in 2024, the largest publicly traded oil and gas companies in the U.S. went from 50 down to 40, and that those 40 companies produced a staggering 41% of all O&G production in this country. It’s probably no surprise that many in the list produce natural gas (and oil) in the Marcellus/Utica. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC also tells shale drillers when to stop withdrawing if low water flow (i.e., drought) conditions exist. And that’s what the SRBC did earlier today. The agency, via its Hydrologic Conditions Monitor, warned shale drillers that, at 47 listed locations (all in Pennsylvania), they must stop water withdrawals until streamflow reaches a specific “trigger flow” target (different for each location). 
Yesterday, MDN brought you a review and summary of National Fuel Gas Company’s (NFG) latest quarterly update (see 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC published a notice in the June 21 Pennsylvania Bulletin that the Executive Director of the SRBC renewed 38 general water use permits in May for individual shale gas well drilling pads in Bradford, Cameron, Clearfield, Lycoming, Susquehanna, Tioga, and Wyoming counties in Pennsylvania. So far in 2025, the SRBC has issued or renewed 225 general water use permits for shale gas development.