National Fuel Gas Company
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- National Fuel Gas Company (NYSE: NFG), incorporated in 1902 and headquartered in Williamsville, New York, operates as a diversified energy holding company focused on natural gas across the United States, primarily in the Appalachian Basin, western New York, and northwestern Pennsylvania. The company conducts its activities through three principal segments: Integrated Upstream and Gathering, encompassing exploration, development, production, gathering, and processing of natural gas reserves; Pipeline and Storage, providing interstate transportation and storage services via over 1,600 miles of pipeline and multiple underground fields; and Utility, delivering natural gas sales and transportation to more than 750,000 retail customers through local distribution systems. Subsidiaries include Seneca Resources Company, LLC for exploration and production; National Fuel Gas Supply Corporation and Empire Pipeline, Inc. for pipeline operations; National Fuel Gas Midstream Company, LLC for gathering; and National Fuel Gas Distribution Corporation for utility services. In recent developments, National Fuel announced in fiscal 2025 the $2.62 billion acquisition of CenterPoint Energy's Ohio natural gas utility, expected to close in late 2026 and double its Utility segment rate base; filed with FERC for the Shippingport Lateral Project to add 205,000 dekatherms per day of firm transportation capacity serving a data center with approximately $15 million in annual revenue; and executed a precedent agreement for new firm transportation from Tioga County targeting late 2028 in-service. The company reported strong fiscal 2025 results with adjusted EBITDA of $1.41 billion, up from $1.19 billion in 2024, 21% production growth in the Utica region, its 55th consecutive dividend increase to $2.14 annually, and New York Public Service Commission approval for base delivery rate increases effective January 2025, the first since 2017.
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