WILLIAMSVILLE, N.Y.--(BUSINESS WIRE)--
Today, National Fuel Gas Company (“National Fuel” or the “Company”)
(NYSE:NFG) announced the following executive management changes.
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Matthew D. Cabell, President of Seneca Resources Corporation and Senior Vice President of National Fuel Gas Company, has indicated his intention to retire, effective May 1, 2016. (Photo: Business Wire)
Matthew D. Cabell, President of Seneca Resources Corporation
(“Seneca”), the Exploration and Production segment of the Company, and
Senior Vice President of National Fuel Gas Company, has indicated his
intention to retire, effective May 1, 2016.
“Matt has guided Seneca through some remarkable changes since he joined
the Company in December of 2006,” said Ronald J. Tanski, President and
Chief Executive Officer of National Fuel Gas Company. “Under Matt’s
leadership, Seneca has quadrupled reserves and more than tripled
production. He built a top quartile operating team and transformed
Seneca into a shale gas leader. I thank Matt for his considerable
contributions to the Company and wish him and his family well.”
Cabell joined National Fuel in 2006 as President of Seneca, after 26
years of experience with some of the largest companies in the energy
industry. Cabell was named Senior Vice President of National Fuel Gas
Company in June 2010.
John P. McGinnis, currently Seneca’s Chief Operating Officer,
will succeed Cabell as President of Seneca. McGinnis joined Seneca in
2007 as Senior Vice President, and has helped lead Seneca in its
development of the Marcellus Shale. Prior to joining Seneca, he was
General Manager of Exploration at Dominion Resources and, before that,
Vice President of Exploration for Nuevo Energy. McGinnis holds a
Bachelor of Science in geology and a master’s degree in geophysics from
Purdue University, and a doctorate in marine geology and geophysics from
Columbia University. He is a member of the American Association of
Petroleum Geologists and is on the Board of the Western States Petroleum
Association.
“I am leaving Seneca in good hands,” remarked Cabell. “John has played a
big role in our success, and is supported by an experienced and capable
Seneca management team dedicated to executing our long-term plans.”
The following executive management changes will be effective Feb. 1,
2016.
John R. Pustulka, currently President of National Fuel Gas Supply
Corporation, has been named Chief Operating Officer of National Fuel Gas
Company.
“Over the next few years, the continued growth of our Company will be
focused in our gathering pipeline, interstate pipeline, and upstream
exploration and production segments. In view of the level of development
activity and spending among these areas, it is important to have a
coordinated and focused oversight for those areas,” said Tanski.
“Throughout John’s extensive career he has been involved in all aspects
of the ongoing development and expansion of the Company’s gathering and
interstate pipeline and storage systems. This in-depth knowledge and
operational experience with our Appalachian assets make John the ideal
person to help coordinate our long-term development plans.”
Pustulka joined the Company in 1974 and has been an officer of National
Fuel Gas Supply Corporation since 1990. He has been responsible for the
Company’s pipeline and storage projects and operations for many years.
He earned a Bachelor of Science in civil engineering from the State
University of New York at Buffalo and a Master of Business
Administration from Canisius College. Pustulka serves on the Executive
Committee and is an Executive Board member of the Interstate Natural Gas
Association of America Foundation Inc., a member and past Chairman of
the Interstate Natural Gas Association of America’s Pipeline Safety
Committee and a board member of the Greater Niagara Frontier
Council Boy Scouts of America.
David P. Bauer, who will continue to serve as Treasurer and
Principal Financial Officer of National Fuel Gas Company, has been named
President of National Fuel Gas Supply Corporation.
In making this appointment, Tanski said, “Dave has been instrumental in
carrying out the Company’s financial strategy for many years and has
played a key role in maintaining our financial strength and stability.
His ongoing interface with the financial community will be of critical
value as National Fuel Gas Supply Corporation continues along its path
of substantial, appropriately-paced infrastructure investment and build
out for the future."
Bauer joined National Fuel in 2001 after 10 years at
PricewaterhouseCoopers LLP and its predecessor. He earned a Bachelor of
Science in accounting at Boston College. Bauer is a board member of the
YMCA Buffalo Niagara, Audit Committee Chairman of the D’Youville College
Board, a Finance Committee member of the Canisius High School Board and
an Investment Committee member of the Diocese of Buffalo.
Carl M. Carlotti, currently Senior Vice President of National
Fuel Gas Distribution Corporation, the Utility segment of National Fuel
Gas Company, has been named President of the Utility, succeeding Anna
Marie Cellino who will retire effective Feb. 1, 2016.
“Carl has managed virtually every functional area of the Utility during
his 30-plus years with the company,” said Tanski. “Carl will continue
our history of strong customer service and commitment to the safe,
reliable delivery of low-cost, environmentally advantageous natural gas
to our utility customers.”
Carlotti joined the Company in 1985 and has been Senior Vice President
of the Utility since December 2007 and head of the Utility’s
Pennsylvania Division since 1993. Carlotti holds a Bachelor of Arts in
political science from Gannon University and a law degree from the
University of Dayton School of Law. Currently, he serves as a board
member for the Energy Association of Pennsylvania, the Pennsylvania
Chamber of Business and Industry, and the Erie Regional Chamber and
Growth Partnership.
“One of the underpinnings of National Fuel’s ongoing success has been
the depth, breadth, and collective knowledge of our talented leadership
team and workforce. With these executive level changes, and the ongoing
hard work and dedication of our more than 2,000 employees, we are well
positioned to continue executing on our development strategy to the
long-term benefit of shareholders, customers and other stakeholders,”
Tanski concluded.
National Fuel is an integrated energy company with more than $6 billion
in assets invested in the following five operating segments: Exploration
and Production, Pipeline and Storage, Gathering, Utility, and Energy
Marketing. Additional information about National Fuel is available at www.nationalfuelgas.com.
Certain statements contained herein, including statements identified by
the use of the words “anticipates,” “estimates,” “expects,” “forecasts,”
“intends,” “plans,” “predicts,” “projects,” “believes,” “seeks,” “will,”
“may” and similar expressions, and statements which are other than
statements of historical facts, are “forward-looking statements” as
defined by the Private Securities Litigation Reform Act of 1995.
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 contained herein are expressed in good faith and
are believed to have a reasonable basis, but there can be no assurance
that such expectations, beliefs or projections will result or be
achieved or accomplished. In addition to other factors, the following
are important factors that could cause actual results to differ
materially from those discussed in the forward-looking statements:
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; impairments under the SEC’s full cost ceiling test for
natural gas and oil reserves; changes in the price of natural gas or
oil; 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; 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; changes in price
differentials between similar quantities of natural gas or oil sold 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; other changes in price differentials
between similar quantities of natural gas or oil having different
quality, heating value, hydrocarbon mix or delivery date; 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; the
cost and effects of legal and administrative claims against the Company
or activist shareholder campaigns to effect changes at the Company;
uncertainty of oil and gas reserve estimates; significant differences
between the Company’s projected and actual production levels for natural
gas or oil; 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; changes in demographic patterns and weather conditions;
changes in the availability, price or accounting treatment of derivative
financial instruments; 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; the
creditworthiness or performance of the Company’s key suppliers,
customers and counterparties; economic disruptions or uninsured losses
resulting from major accidents, fires, severe weather, natural
disasters, terrorist activities, acts of war, cyber attacks or pest
infestation; or significant differences between the Company’s projected
and actual capital expenditures and operating expenses. The Company
disclaims any obligation to update any forward-looking statements to
reflect events or circumstances after the date thereof.
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Source: National Fuel Gas Company