NATIONAL FUEL

OUR RESPONSIBILITY

National Fuel is committed to the safe and environmentally conscious development, transportation and distribution of natural gas and oil resources.

A Message from Ronald J. Tanski

President and Chief Executive Officer

Dear Stakeholders,

On behalf of the more than 2,000 National Fuel employees, I am pleased to share this web-based report highlighting a number of our activities and accomplishments that demonstrate our commitment to conducting our business responsibly.

For 115 years, National Fuel has been operating safely and responsibly in Western New York and Northwest Pennsylvania, and more recently in Southern California. We fuel the daily lives of the families and businesses that call the region home. Our commitment to responsible business operations is deeply rooted in six guiding principles: Safety, Environmental Stewardship, Community, Innovation, Satisfaction and Transparency. Every day, these principles help guide the planning and execution of our business activities.

As the only remaining vertically integrated natural gas company in the U.S., National Fuel and its dedicated employees are uniquely positioned to act on these commitments and play an important role in our long-term energy future. I was born and raised in Western New York. This is my family’s home, and my employees’ home. Like me, they have a vested interest in ensuring that all of our activities promote the health and well-being of our communities, and never compromise safety or the quality of our environment.

As proud as I am of our performance, we are always striving to improve. National Fuel understands that to be here for the next 115 years, we must continue to operate our business with the highest levels of integrity and stewardship for the benefit of all of our stakeholders.

Sincerely,

Ronald J. Tanski

OUR GUIDING PRINCIPLES

National Fuel understands that to deliver sustainable value for the benefit of our shareholders, employees, customers and communities alike, we must continue to conduct our business activities in a way that promotes our six guiding principles.

Safety

We value the safety of all of our customers, employees and communities, and work diligently to establish a culture of safety that is embraced throughout the entire organization.

Environmental Stewardship

We play a unique and vital role in upholding standards of environmental protection in every area of our business. We are proactive and detailed in our compliance with local, state and federal laws.

Community

We are committed to the health and vitality of our local communities. We work where we live and raise our families, and are constantly focused on the highest standards of corporate responsibility and accountability.

Innovation

We strive to exceed the standards for safe, clean and reliable energy development. We invest in the future of our regions’ energy resources. We envision a long and healthy future for our company.

Satisfaction

We work to deliver reliable, high-quality service for our customers. We want our shareholders to see a strong return on their investment. We want our employees to work in a positive, safe and rewarding environment. We want our communities to be proud to call us neighbors.

Transparency

We believe that open communication is key to maintaining strong relationships. We see value in educating our customers, shareholders, employees and the larger community about all aspects of our work.

Safety

We value the safety of all of our customers, employees and communities, and work diligently to establish a culture of safety that is embraced throughout the entire organization.

Environmental Stewardship

We play a unique and vital role in upholding standards of environmental protection in every area of our business. We are proactive and detailed in our compliance with local, state and federal laws.

Community

We are committed to the health and vitality of our local communities. We work where we live and raise our families, and are constantly focused on the highest standards of corporate responsibility and accountability.

Innovation

We strive to exceed the standards for safe, clean and reliable energy development. We invest in the future of our regions’ energy resources. We envision a long and healthy future for our company.

Satisfaction

We work to deliver reliable, high-quality service for our customers. We want our shareholders to see a strong return on their investment. We want our employees to work in a positive, safe and rewarding environment. We want our communities to be proud to call us neighbors.

Transparency

We believe that open communication is key to maintaining strong relationships. We see value in educating our customers, shareholders, employees and the larger community about all aspects of our work.

OUR COMPANY

National Fuel Gas Company (NYSE: NFG) is a diversified, integrated energy company with a complementary mix of natural gas assets located in the heart of the prolific Appalachian basin supplemented by quality oil-producing assets in California. From the bottom of the wellbore to the customer’s burner tip, National Fuel has structured its collective group of businesses in a unique manner that leverages our vast upstream resources, valuable midstream footprint and reliable downstream operations to position the Company as a responsible player in America’s energy renaissance.

QUICK FACTS

  • Incorporated in 1902
  • Headquarters: Williamsville, N.Y.
  • $4.8 billion market capitalization
  • $6.1 billion in assets
  • 2,115 full-time employees
  • 1,030 union employees
  • 2,250 retired employees

AS OF SEPT. 30, 2017.

Learn more about the natural gas development process from the well head to the burner tip.

OUR STRUCTURE

UPSTREAM

National Fuel’s upstream business is conducted through its exploration and production subsidiary Seneca Resources Company, LLC, with natural gas-focused operations in Appalachia and oil-focused operations in California. Most of Seneca’s activity is focused in Pennsylvania, where the Company controls the natural gas mineral rights to 785,000 net acres in the Marcellus and Utica Shales.

MIDSTREAM

National Fuel’s midstream operations are carried out by the interstate pipeline and storage subsidiaries, National Fuel Gas Supply Corporation and Empire Pipeline, Inc., and the gathering subsidiary National Fuel Gas Midstream Company, LLC. Since 2010, National Fuel has invested more than $1.5 billion in gathering and pipeline system expansion and modernization projects to move more low-cost natural gas supplies being produced in the Appalachian region to diverse markets served by the North American pipeline grid.

DOWNSTREAM

National Fuel’s utility and energy marketing subsidiaries, operated by National Fuel Gas Distribution Corporation and National Fuel Resources, Inc., respectively, provide safe and affordable natural gas services to more than 740,000 residential, commercial and industrial customers in New York and Pennsylvania. The Utility’s ongoing investment in its pipeline network ensures the continued safety of our systems, enhances service reliability and provides access to an abundant, affordable and clean-burning energy source.

OUR History

National Fuel’s history dates back to the origins of the natural gas industry. Since the early 1800s, National Fuel and its predecessor companies are tied to many industry firsts and have pioneered a number of industry practices. We have evolved through periods of changing regulation, supply scarcity and industry consolidation. And we are now playing a significant role in the industry’s rebirth.

Industry Origins and Company Beginnings (1820s to 1940s)

1821The nation’s first natural gas well for commercial use was drilled in the Village of Fredonia, New York, by William Hart, and was used to illuminate 100 street lights on the main street in the village.

1859The first oil well was drilled by Colonel Edwin Drake in Titusville, PA.

1902National Fuel is incorporated on December 8, 1902, organizing interests in Buffalo and Western Pennsylvania natural gas investments that had been placed in John D Rockefeller’s Standard Oil Natural Gas Trust.         

1916A predecessor to National Fuel Gas Supply Corporation, developed the first underground natural gas storage reservoir in the United States at Zoar Field, 40 miles south of Buffalo.

Deregulation, Restructuring and Supply Diversification (1950s to 2000s)

1974—National Fuel realigns its corporate structure, separating its utility and interstate pipeline and storage assets to form current day National Fuel Gas Distribution Corporation and National Fuel Gas Supply Corporation, respectively.

1987—Seneca establishes its West Coast operations when it acquires a 75 percent interest in Argo Petroleum Corporation’s principal oil and gas properties in California.

1991—National Fuel Resources, Inc. is formed to market natural gas to industrial, commercial, wholesale, public authority and residential customers throughout New York and Pennsylvania.

1994—Seneca drills its first offshore well in the Gulf of Mexico. Seneca sold its offshore oil and gas properties in 2011 to focus on its Appalachian shale development program.

Shale Revolution and Industry Rebirth (2000s to present day)

2002—National Fuel purchases the Empire Pipeline from Duke Energy, adding a key route in upstate NY that would become a centerpiece for multiple system expansions over the next decade.

2009—Seneca drills its first operated Marcellus shale well in Tioga County, Pa. National Fuel Gas Midstream Corporation is formed to construct gathering facilities to bring Seneca’s Appalachian production to market.

2017—National Fuel’s annual natural gas production climbs to 157 billion cubic feet, 6 times higher than the Company’s output in 2007. Annual throughput on the Company’s interstate pipeline systems also doubled over the same 10-year period.

VISIT OUR NATURAL GAS VALUE CHAIN WEBSITE FOR ADDITIONAL INFORMATION ON THE NATURAL GAS PROCESS. 
Privacy Policy | Terms and Conditions | Disclosures Regarding Forward Looking Statements | Natfuel.com
© 2018 :: National Fuel Gas Company
VIEW OUR NATURAL GAS VALUE CHAIN FOR ADDITIONAL INFORMATION ON THE NATURAL GAS PROCESS. 
Privacy Policy | Terms and Conditions | Disclosures Regarding Forward Looking Statements | Natfuel.com
© 2018 :: National Fuel Gas Company