Commentary on this conference call may contain forward-looking statements within the meaning of the federal securities laws. National Fuel Gas Company (the “Company”) is providing this cautionary statement to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, the Company.

Forward-looking statements include, without limitation, statements regarding future prospects, plans, objectives, goals, projections, estimates of oil and gas quantities, strategies, future events or performance and underlying assumptions, capital structure, anticipated capital expenditures, completion of construction projects, projections for pension and other post-retirement benefit obligations, impacts of the adoption of new accounting rules, and possible outcomes of litigation or regulatory proceedings, as well as statements that are identified by the use of the words "anticipates," "estimates," "expects," "forecasts," "intends," "plans," "predicts," "projects," "believes," "seeks," "will," "may" and similar expressions. All forward-looking statements, whether written or oral and whether made by or on behalf of the Company, are expressly qualified by these cautionary statements. Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements.

The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished.

In addition to other factors, the following are important factors that, in the view of the Company, could cause actual results to differ materially from those discussed in the forward-looking statements:

  1. Delays or changes in costs or plans with respect to Company projects or related projects of other companies, including difficulties or delays in obtaining necessary governmental approvals, permits or orders or in obtaining the cooperation of interconnecting facility operators;
  2. Governmental/regulatory actions, initiatives and proceedings, including those involving rate cases (which address, among other things, target rates of return, rate design and retained natural gas), environmental/safety requirements, affiliate relationships, industry structure, and franchise renewal;
  3. Impairments under the SEC’s full cost ceiling test for natural gas and oil reserves;
  4. Changes in the price of natural gas or oil;
  5. Financial and economic conditions, including the availability of credit, and occurrences affecting the Company’s ability to obtain financing on acceptable terms for working capital, capital expenditures and other investments, including any downgrades in the Company’s credit ratings and changes in interest rates and other capital market conditions;
  6. Factors affecting the Company’s ability to successfully identify, drill for and produce economically viable natural gas and oil reserves, including among others geology, lease availability, title disputes, weather conditions, shortages, delays or unavailability of equipment and services required in drilling operations, insufficient gathering, processing and transportation capacity, the need to obtain governmental approvals and permits, and compliance with environmental laws and regulations;
  7. Changes in laws, regulations or judicial interpretations to which the Company is subject, including those involving derivatives, taxes, safety, employment, climate change, other environmental matters, real property, and exploration and production activities such as hydraulic fracturing;
  8. Changes in price differentials between similar quantities of natural gas or oil at different geographic locations, and the effect of such changes on commodity production, revenues and demand for pipeline transportation capacity to or from such locations;
  9. Other changes in price differentials between similar quantities of natural gas or oil having different quality, heating value, hydrocarbon mix or delivery date;
  10. The cost and effects of legal and administrative claims against the Company or activist shareholder campaigns to effect changes at the Company;
  11. Uncertainty of oil and gas reserve estimates;
  12. Significant differences between the Company’s projected and actual production levels for natural gas or oil;
  13. Changes in demographic patterns and weather conditions;
  14. Changes in the availability, price or accounting treatment of derivative financial instruments;
  15. Changes in economic conditions, including global, national or regional recessions, and their effect on the demand for, and customers’ ability to pay for, the Company’s products and services;
  16. The creditworthiness or performance of the Company’s key suppliers, customers and counterparties;
  17. Economic disruptions or uninsured losses resulting from major accidents, fires, severe weather, natural disasters, terrorist activities, acts of war, cyber attacks or pest infestation;
  18. Significant differences between the Company’s projected and actual capital expenditures and operating expenses;
  19. Changes in laws, actuarial assumptions, the interest rate environment and the return on plan/trust assets related to the Company’s pension and other post-retirement benefits, which can affect future funding obligations and costs and plan liabilities;
  20. Increasing health care costs and the resulting effect on health insurance premiums and on the obligation to provide other post-retirement benefits; or
  21. Increasing costs of insurance, changes in coverage and the ability to obtain insurance.

Forward-looking statements include estimates of oil and gas quantities. Proved oil and gas reserves are those quantities of oil and gas which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible under existing economic conditions, operating methods and government regulations. Other estimates of oil and gas quantities, including estimates of probable reserves, possible reserves, and resource potential, are by their nature more speculative than estimates of proved reserves. Accordingly, estimates other than proved reserves are subject to substantially greater risk of being actually realized.

Any forward-looking statements contained in this conference call speak only as of the date of this call. The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date of this conference call. Investors are urged to consider closely the disclosure in our Form 10-K and Forms 10-Q, available at www.nationalfuelgas.com. You can also obtain these forms on the SEC’s website at www.sec.gov.

By clicking “Accept” below, you acknowledge the above.

press-release-details
Press release details

National Fuel Elects New Director for Corporate Board

12/14/2016

WILLIAMSVILLE, N.Y.--(BUSINESS WIRE)-- Members of the National Fuel Gas Company ("National Fuel" or the "Company") (NYSE:NFG) Board of Directors elected Thomas E. Skains as a new independent director.  His term began on Dec. 8.

Thomas E. Skains, is the former Chairman, President, and Chief Executive Officer of Piedmont Natural Gas Company, Inc. ("Piedmont"), having served from 2002 as President, and from 2003 as Chairman and CEO until his retirement in October 2016. Previously Skains held various executive positions at Piedmont, including Chief Operating Officer and Senior Vice President—Marketing and Supply Services, where he directed Piedmont's commercial natural gas activities. Before joining Piedmont, Skains spent nearly 15 years in positions of increasing responsibility with Transcontinental Gas Pipe Line Corporation, initially as a corporate attorney in the areas of natural gas supply, rate and federal energy regulatory matters, before being named Vice President and later Senior Vice President, Transportation and Customer Services.

"With more than 35 years in the natural gas industry, Tom has been a highly respected energy leader," said David F. Smith, National Fuel's Chairman of the Board. "Tom's deep-rooted energy experience will be an excellent complement to the solid range of skill sets provided by our Board of Directors. We have a long-standing commitment to cultivating a Board that balances the need for diverse perspectives with the vital requirement for continuity and depth of insight into the complex workings of our Company and industry. Tom's knowledge, strategic management skills and industry expertise make him an ideal selection for our Board."

In October 2016, Skains became a director at Duke Energy Corporation. He is also currently a director of BB&T Corporation, where he chairs the Executive Committee and serves on the Risk Committee, and is a board member of its subsidiary, Branch Banking and Trust Company, where he chairs the Executive Committee and serves on the Risk Committee. Skains also has been actively involved throughout his career in leadership positions with numerous industry organizations, including previously serving as Board Chair of the American Gas Association and the Southern Gas Association, as well as serving as a Board member of the American Gas Foundation and the Gas Technology Institute. He is a well-recognized civic leader, previously serving as Chairman of the Charlotte Chamber of Commerce, as Vice Chairman of the Charlotte Sports Foundation, as a board member of the United Way of Central Carolinas, and as a trustee of Johnson and Wales University. Skains earned a bachelor's degree in business administration from Sam Houston State University, and a juris doctor degree from the University of Houston Law School.

National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across five business segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. Additional information about National Fuel is available at www.nationalfuelgas.com

Source: National Fuel Gas Company

National Fuel Gas Company

Analyst:

Brian M. Welsch, 716-857-7875

or

Media:

Karen L. Merkel, 716-857-7654

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Disclosure: Caution Concerning Forward-Looking Statements

National Fuel Gas Company is including the following cautionary statement in this corporate website to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, the Company.

Forward-looking statements include, without limitation, statements regarding future prospects, plans, objectives, goals, projections, estimates of oil and gas quantities, strategies, future events or performance and underlying assumptions, capital structure, anticipated capital expenditures, completion of construction projects, projections for pension and other post-retirement benefit obligations, impacts of the adoption of new accounting rules, and possible outcomes of litigation or regulatory proceedings, as well as statements that are identified by the use of the words "anticipates," "estimates," "expects," "forecasts," "intends," "plans," "predicts," "projects," "believes," "seeks," "will," "may" and similar expressions. All forward-looking statements, whether written or oral and whether made by or on behalf of the Company, are expressly qualified by these cautionary statements. Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements.

The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished.

In addition to other factors and matters discussed elsewhere in this website, the following are important factors that, in the view of the Company, could cause actual results to differ materially from those discussed in the forward-looking statements:

  1. Delays or changes in costs or plans with respect to Company projects or related projects of other companies, including difficulties or delays in obtaining necessary governmental approvals, permits or orders or in obtaining the cooperation of interconnecting facility operators;
  2. Governmental/regulatory actions, initiatives and proceedings, including those involving rate cases (which address, among other things, target rates of return, rate design and retained natural gas), environmental/safety requirements, affiliate relationships, industry structure, and franchise renewal;
  3. Impairments under the SEC’s full cost ceiling test for natural gas and oil reserves;
  4. Changes in the price of natural gas or oil;
  5. Financial and economic conditions, including the availability of credit, and occurrences affecting the Company’s ability to obtain financing on acceptable terms for working capital, capital expenditures and other investments, including any downgrades in the Company’s credit ratings and changes in interest rates and other capital market conditions;
  6. Factors affecting the Company’s ability to successfully identify, drill for and produce economically viable natural gas and oil reserves, including among others geology, lease availability, title disputes, weather conditions, shortages, delays or unavailability of equipment and services required in drilling operations, insufficient gathering, processing and transportation capacity, the need to obtain governmental approvals and permits, and compliance with environmental laws and regulations;
  7. Changes in laws, regulations or judicial interpretations to which the Company is subject, including those involving derivatives, taxes, safety, employment, climate change, other environmental matters, real property, and exploration and production activities such as hydraulic fracturing;
  8. Changes in price differentials between similar quantities of natural gas or oil at different geographic locations, and the effect of such changes on commodity production, revenues and demand for pipeline transportation capacity to or from such locations;
  9. Other changes in price differentials between similar quantities of natural gas or oil having different quality, heating value, hydrocarbon mix or delivery date;
  10. The cost and effects of legal and administrative claims against the Company or activist shareholder campaigns to effect changes at the Company;
  11. Uncertainty of oil and gas reserve estimates;
  12. Significant differences between the Company’s projected and actual production levels for natural gas or oil;
  13. Changes in demographic patterns and weather conditions;
  14. Changes in the availability, price or accounting treatment of derivative financial instruments;
  15. Changes in economic conditions, including global, national or regional recessions, and their effect on the demand for, and customers’ ability to pay for, the Company’s products and services;
  16. The creditworthiness or performance of the Company’s key suppliers, customers and counterparties;
  17. Economic disruptions or uninsured losses resulting from major accidents, fires, severe weather, natural disasters, terrorist activities, acts of war, cyber attacks or pest infestation;
  18. Significant differences between the Company’s projected and actual capital expenditures and operating expenses;
  19. Changes in laws, actuarial assumptions, the interest rate environment and the return on plan/trust assets related to the Company’s pension and other post-retirement benefits, which can affect future funding obligations and costs and plan liabilities;
  20. Increasing health care costs and the resulting effect on health insurance premiums and on the obligation to provide other post-retirement benefits; or
  21. Increasing costs of insurance, changes in coverage and the ability to obtain insurance.

The Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date thereof.

Investor Relations

NYSE: NFG 57.75 +0.16 +0.28% Volume 332,564 Jan 20, 2017 4:02 PM.