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 Gas Company Announces Fiscal 2014 Operational And Capital Expenditure Guidance

National Fuel Gas Company (NYSE: NFG) (“National Fuel” or the “Company”) today confirmed its existing capital expenditure guidance for fiscal year 2013 and provided a preliminary range for fiscal year 2014. Additionally, Seneca Resources Corporation (“Seneca”), the Company’s wholly-owned exploration and production subsidiary, reiterated its fiscal year 2013 production forecast and initiated its guidance range for fiscal 2014.

The Company is providing a preliminary production forecast range for the entire 2014 fiscal year of 126 to 138 billion cubic feet equivalent (“Bcfe”). The Company is also maintaining its production forecast range for the entire 2013 fiscal year at 102 to 112 Bcfe. At the midpoint of these production ranges, production growth for each of fiscal 2013 and 2014 is estimated to be 28 percent and 23 percent, respectively.

 
Fiscal 2014 Preliminary Production Forecast
East Division (Appalachia)         105 to 115 Bcfe
West Division (California/Kansas) 21 to 23 Bcfe
 

For fiscal year 2014, the Company forecasts preliminary total capital expenditures in the range of $770 to $945 million. The Company is also maintaining its forecast for fiscal 2013 capital expenditures in the range of $665 to $795 million. The breakout of fiscal 2014 capital expenditures by business is provided in the table below.

 
Fiscal 2014 Preliminary Capital Expenditure Forecast
Exploration & Production Segment         $550 to $650 million
Pipeline & Storage Segment $80 to $100 million
National Fuel Gas Midstream Corp. $75 to $125 million
Utility Segment $65 to $70 million
 

Within the Exploration & Production segment, East Division (Appalachia) fiscal year 2014 capital expenditures are forecasted to be in the range of $460 to $520 million. Although the Company anticipates maintaining the current horizontal rig count of three, overall drilling and completion activity will increase modestly as a result of improving efficiency. Capital expenditures in the West Division (California/Kansas) are anticipated to be between $90 and $130 million.

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 18,214.89 -73.74 -0.40%
S&P 500 2,106.62 -10.77 -0.51%
NASDAQ 4,978.1640 -29.9320 -0.60%

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