- Operating Results for the fourth quarter of fiscal 2013 of $52.5 million, or $0.63 per share, increased $16.5 million, or $0.20 per share, from the prior year’s fourth quarter due to higher Operating Results in the Upstream and Midstream businesses.
- Operating Results for the fiscal year of $264.9 million, or $3.14 per share, increased $53.6 million, or $0.61 per share, compared to the prior fiscal year due to higher Operating Results across all businesses.
- Adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”) for fiscal 2013 were $852.1 million compared to $704.1 million for the prior year, an increase of 21%.
- In the Pipeline and Storage segment, Operating Results for the fiscal year of $63.2 million, or $0.75 per share, increased 32% compared to the prior year. The increase is largely driven by higher revenues from contracts with non-affiliated shippers to transport gas through the Northern Access and Line N 2012 Expansion pipeline projects that were placed in service in the first quarter.
- Seneca Resources Corporation’s (“Seneca”) fourth quarter production of natural gas and crude oil was 33.2 billion cubic feet equivalent (“Bcfe”), an increase of 8.7 Bcfe or approximately 35%. Total production for fiscal 2013 increased 45% to 120.7 Bcfe, an increase of 37.3 Bcfe.
- Seneca’s total reserves at September 30, 2013, were 1,549 Bcfe, an increase of 303 Bcfe or 24%. Seneca replaced 351% of fiscal 2013 production.
- A conference call is scheduled for Friday, November 8, 2013, at 11 a.m. Eastern Time.
National Fuel Reports 2013 Earnings
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