Press Release Details

Forward Looking Statement Disclosure

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 forwardlooking 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 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. 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;
  2. Governmental/regulatory actions, initiatives and proceedings, including those involving rate cases (which address, among other things, target rates of return, rate design, retained natural gas and system modernization), environmental/safety requirements, affiliate relationships, industry structure, and franchise renewal;
  3. Changes in economic conditions, including the imposition of additional tariffs on U.S. imports and related retaliatory tariffs, inflationary pressures, supply chain issues, liquidity challenges, and global, national or regional recessions, and their effect on the demand for, and customers’ ability to pay for, the Company’s products and services;
  4. The Company's ability to complete strategic transactions, such as the pending transaction with CenterPoint Energy Resources Corp., including receipt of required regulatory clearances and satisfaction of other conditions to closing, and to recognize the anticipated benefits of such transactions;
  5. Governmental/regulatory actions and/or market pressures to reduce or eliminate reliance on natural gas;
  6. The Company’s ability to estimate accurately the time and resources necessary to meet emissions targets;
  7. Changes in the price of natural gas;
  8. Impairments under the SEC's full cost ceiling test for natural gas reserves;
  9. The creditworthiness or performance of the Company’s key suppliers, customers and counterparties;
  10. 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, other investments, and acquisitions, including any downgrades in the Company’s credit ratings and changes in interest rates and other capital market conditions;
  11. Negotiations with the collective bargaining units representing the Company's workforce, including potential work stoppages during negotiations;
  12. Changes in price differentials between similar quantities of natural gas 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;
  13. The impact of information technology disruptions, cybersecurity or data security breaches, including the impact of issues that may arise from the use of artificial intelligence technologies;
  14. Factors affecting the Company’s ability to successfully identify, drill for and produce economically viable natural gas reserves, including among others geology, lease availability and costs, title disputes, weather conditions, water availability and disposal or recycling opportunities of used water, 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;
  15. Increased costs or delays or changes in plans with respect to Company projects or related projects of other companies, as well as difficulties or delays in obtaining necessary governmental approvals, permits or orders or in obtaining the cooperation of interconnecting facility operators;
  16. Increasing health care costs and the resulting effect on health insurance premiums and on the obligation to provide other post-retirement benefits;
  17. Other changes in price differentials between similar quantities of natural gas having different quality, heating value, hydrocarbon mix or delivery date;
  18. The cost and effects of legal and administrative claims against the Company or activist shareholder campaigns to effect changes at the Company;
  19. Uncertainty of natural gas reserve estimates;
  20. Significant differences between the Company’s projected and actual production levels for natural gas;
  21. Changes in demographic patterns and weather conditions (including those related to climate change);
  22. Changes in the availability, price or accounting treatment of derivative financial instruments;
  23. Changes in laws, actuarial assumptions, the interest rate environment and the return on plan/trust assets related to the Company’s pension and other postretirement benefits, which can affect future funding obligations and costs and plan liabilities;
  24. Economic disruptions or uninsured losses resulting from major accidents, fires, severe weather, natural disasters, terrorist activities or acts of war, as well as economic and operational disruptions due to third-party outages;
  25. Significant differences between the Company’s projected and actual capital expenditures and operating expenses; or
  26. Increasing costs of insurance, changes in coverage and the ability to obtain insurance.

Forward-looking statements include estimates of gas quantities. Proved gas reserves are those quantities of 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 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.investor.nationalfuelgas.com. You can also obtain these forms on the SEC’s website at www.sec.gov.

National Fuel Gas Company Accepts U.S. Environmental Protection Agency’s Methane Challenge

November 12, 2018

Participation continues emphasis on safe and responsible operations

WILLIAMSVILLE, N.Y., Nov. 12, 2018 (GLOBE NEWSWIRE) -- National Fuel Gas Company and five of its subsidiaries, spanning all key sectors of the natural gas value chain, announced their recent acceptance into the U.S. Environmental Protection Agency’s (EPA) Natural Gas STAR Methane Challenge Program. This voluntary program within the energy industry is designed to provide a transparent platform for utilities, pipeline and storage companies, and energy producers to make, track, and communicate commitments to reduce methane emissions.

“For more than 116 years, National Fuel, its affiliates, and employees have been committed to operating safely and responsibly as important members of our local, national, and world communities,” said Ronald J. Tanski, President and Chief Executive Officer at National Fuel Gas Company. “As one of our Company’s guiding principles, environmental stewardship reflects our understanding and deep appreciation for the vital role we play in upholding standards of environmental protection. Our participation in the Methane Challenge is further evidence of our commitment to protecting the environment and natural resources.”

Each participating subsidiary of National Fuel is making independent commitments under the Methane Challenge Best Management Practices that are appropriate to its business with the expectation to further reduce methane emissions. National Fuel’s companies have committed to analyze new and innovative approaches for further emission reduction and to explore the applicability of future best management practices or expansions of current best practices.

Seneca Resources Company, LLC, the Company’s exploration and production subsidiary, is committed to continuous improvement efforts to reduce greenhouse gas emissions and limit its potential environmental footprint. Since 2015, Seneca has partnered with the EPA to voluntarily reduce methane emissions through its participation in the Natural Gas STAR Program and committed to implementing a number of best management practices for reducing methane emissions where feasible, often beyond regulatory requirements, and has reported methane reduction actions annually to the EPA.

National Fuel’s midstream operations, comprised of National Fuel Gas Supply Corporation, Empire Pipeline, Inc., National Fuel Gas Midstream Company, LLC, work to expand the pipeline network to satisfy the growing demand for natural gas supplies. Across these businesses, engineers have been focused on developing best management practices and utilizing the best available technologies and materials that mitigate and reduce emissions from our new facilities. A particular emphasis has been on the design, construction, and operation of compressor station facilities with investment in technologies that meet and often go beyond what is required by stringent federal and state regulations.

National Fuel’s utility subsidiary National Fuel Gas Distribution Corporation has been focused on improving safety while reducing methane emissions from utility mains and service lines through system modernization, as well as initiatives to lower our customers’ carbon footprint through energy efficiency and conservation. The Company’s replacement of older natural gas infrastructure with more modern materials and technologies has resulted in fewer leaks across the system and should continue to lower methane emissions. From 2012 through 2017, the utility has seen a 17.4 percent reduction in greenhouse gas emissions, primarily methane, as reported to the U.S. EPA under subpart W of 40 CFR Part 98.

“With each well we drill, every pipeline we build, and as we continually replace older utility infrastructure, National Fuel’s employees are dedicated to protecting the environment and the health and safety of the members of our communities,” Tanski said.

National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across multiple business segments, including Exploration & Production, Pipeline & Storage, Gathering, Utility, and Energy Marketing.  Additional information about National Fuel is available at www.nationalfuel.com. National Fuel’s guiding principles and environmental commitments are available on its Corporate Responsibility site at http://responsibility.natfuel.com.

Analyst Contact:       Kenneth E. Webster             716-857-7067
Media Contact:          Karen L. Merkel                    716-857-7654

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Source: National Fuel Gas Company