National Fuel Gas raises 2014 production guidance, capex forecast

In an operations update, National Fuel Gas (NYSE:NFG) says its Seneca Resources E&P subsidiary reports total Q2 production of 40.6B cfe (446M cfe/day), a 10% Q/Q increase and a 19% Y/Y jump, driven by the ongoing success of its Marcellus shale development program.

Natural gas production rose 20% to 35.9B cu. ft., and crude oil production totaled 783K bbl, up 10% Y/Y due to continued success in the East Coalinga field.

Raises FY 2014 production guidance to 160B-168B cfe from prior 155B-165B cfe, a 33%-39% increase over FY 2013 production.

Raises 2014 capex forecast to $575M-$625M from prior $550M-$625M, due to acceleration of activities on five Marcellus shale wells where completion operations were originally scheduled in early FY 2015.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs