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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

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

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

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