This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

National Fuel Completes The Trout Run Gathering System And Announces New Marcellus Shale Well Results

Stocks in this article: NFG

National Fuel Gas Midstream Corporation (“NFG Midstream”), a wholly owned subsidiary of National Fuel Gas Company (NYSE: NFG) (“National Fuel” or the “Company”) has announced that the Trout Run Gathering System (“Trout Run”), located in Lycoming County, Pa., was placed in service on May 30, 2012, and is delivering natural gas to an interconnect with Transcontinental Gas Pipe Line Company, LLC (“Transco”). Initial production is from four recently completed wells operated by Seneca Resources Corporation (“Seneca”), the wholly owned exploration and production subsidiary of National Fuel.

NFG Midstream’s Trout Run system currently consists of approximately 25 miles of mostly 20-inch high-pressure pipeline, associated facilities and an interconnection with the Transco pipeline system. Trout Run is designed to serve Marcellus producers, anchored by Seneca, with natural gas transportation capacity in excess of 450 million cubic feet (“MMcf”) per day. Additional facilities and gathering lines will be constructed as throughput increases.

As part of the completion of Trout Run, Seneca initiated production on a four-well pad located on its DCNR 100 tract in Lycoming County, Pa. As of June 11, 2012, these four wells are producing at a combined rate of approximately 45 MMcf per day of natural gas. Peak 24-hour production rates from these wells had a range of 10.1 to 15.7 MMcf per day. The wells were drilled with lateral lengths between 5,224 and 8,574 feet. A three-well pad is currently being completed and two Seneca-operated drilling rigs are active in the area. In addition to the four wells currently flowing into Trout Run, the tract has approximately 65 additional well locations.

David F. Smith, Chairman and Chief Executive Officer of National Fuel, stated, “The completion of Trout Run in conjunction with initial production from Seneca’s Lycoming County wells is a testament to not only the Company’s integrated Appalachian development strategy, but also the hard work and dedication of our operational teams. The initial results from these wells confirm our belief that this acreage holds significant potential and will help drive production growth throughout the next several years. Additionally, with our two major gathering systems completed in Pennsylvania, we have built a foundation from which NFG Midstream can continue to expand its operations for not only Seneca, but other Appalachian producers as well.”

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,367.44 +172.02 1.00%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,624.8650 +58.7270 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs