National Fuel Gas Company

National Fuel Gas Company Announces Plan to Separate Its Integrated Upstream and Gathering Business

National Fuel Gas announced a board-approved plan to spin off its Integrated Upstream and Gathering business into an independent public company via a tax-free distribution of at least 80.1% of IUG shares, expected to close in the second half of 2027. Post-separation, National Fuel becomes a 100% rate-regulated natural gas company with nearly $5 billion of rate base, 1.1 million utility customers across Ohio, New York and Pennsylvania, and roughly 5 Bcf/day of contracted pipeline capacity. IUG will hold about 1.2 million net Appalachian acres, 1.1 Bcf/day of net production, and approximately 5 Tcf of proved reserves. David P. Bauer remains CEO of National Fuel; Justin I. Loweth will lead IUG as CEO. NFG may retain up to a 19.9% stake in IUG to be monetized tax-efficiently, and says no incremental equity issuance is needed over the next five years based on current plans.

•11d ago

CenterPoint Energy completes sale of its Ohio natural gas business to National Fuel Gas Company for $2.62 billion

CenterPoint Energy completed the $2.62 billion sale of its Ohio natural gas LDC business, Vectren Energy Delivery of Ohio, to National Fuel Gas Company. The divested assets include roughly 5,900 miles of pipeline serving about 335,000 metered customers in West Central Ohio, with all federal and state approvals, including PUCO review, received. Proceeds will support CenterPoint's $66.7 billion 10-year capital plan across its core regulated electric and gas footprint in Indiana, Minnesota and Texas.

•24d ago

National Fuel Gas Company Completes Acquisition of CenterPoint Energy's Ohio Natural Gas Utility

National Fuel Gas completed its acquisition of CenterPoint Energy's Ohio natural gas utility, Vectren Energy Delivery of Ohio, with the closing announced October 1, 2026. The acquired utility, renamed National Fuel Gas Distribution of Ohio, serves approximately 335,000 customers across 16 counties in the Dayton and greater Miami Valley region and brings roughly 200 employees to the company. The deal doubles National Fuel's utility rate base and lifts its utility customer base to about 1.1 million, expanding into Ohio's gas-supportive, constructively regulated jurisdiction. Management framed the closing as advancing its strategy of growing the regulated business and a platform for continued regulated investment, further balancing the company's business mix.

•24d ago

National Fuel Gas Company Announces Timeline to Conclude Evaluation of a Plan to Separate into Two Independent Publicly Traded Companies

National Fuel Gas' Board expects to complete its evaluation of a plan to separate the company into two independent publicly traded companies by October 15, 2026, with any separation still subject to final Board approval. If pursued, the Integrated Upstream and Gathering (IUG) business would be distributed to shareholders in a transaction intended to be tax-free for U.S. federal income tax purposes, leaving National Fuel as a 100% rate-regulated gas utility and pipeline company with nearly $5 billion of rate base and 1.1 million customers across Ohio, New York, and Pennsylvania. IUG would be a premier Appalachian gas producer with approximately 1.2 million net acres, about 1.1 Bcf per day of net production, roughly 5 Tcf of reserves, and more than 40 years of Marcellus and Utica inventory, supported by ~25% capital efficiency gains since 2023. Goldman Sachs is serving as financial advisor and Skadden Arps as legal counsel; the post-separation regulated company expects investment-grade credit metrics in line with the strongest utilities and no need to raise incremental equity capital over the next five years.

•1mo ago

New Found Gold Announces Graduation to the Toronto Stock Exchange

New Found Gold shares will commence trading on the Toronto Stock Exchange on August 26, 2026, under the symbol NFGC, marking a graduation from the TSX Venture Exchange. CEO Keith Boyle noted that the listing underscores the company's evolution from an explorer to an emerging producer and will increase visibility within the global mining investment community. The company holds a 100% interest in the Queensway and Hammerdown projects and is targeting commercial production at the Hammerdown deposit in the second half of 2026.

•2mo ago

NFG: 10-Q · periodic report

National Fuel Gas reported robust financial results for the nine months ended June 30, 2026, with net income increasing 38% to $567.9 million compared to the prior year. This growth was primarily driven by higher natural gas prices and the absence of prior-year impairment charges in the Integrated Upstream and Gathering segment. However, third-quarter earnings dipped 7.5% to $138.6 million due to corporate losses and lower segment earnings. The company remains on track to close its $2.62 billion acquisition of Vectren Energy Delivery of Ohio on October 1, 2026. To fund the transaction, NFG successfully issued $1.5 billion in 5.50% notes due 2036 and raised $338.4 million through a private equity placement, leaving it with $1.24 billion in cash and temporary investments. The acquisition is expected to double the company's gas utility rate base. Operationally, NFG is advancing expansion projects including the Tioga Pathway and Shippingport Lateral projects. The company also updated its regulatory activities, filing a FERC rate case seeking a $95 million cost of service increase and a Pennsylvania rate case requesting a $19.7 million revenue increase, which has been suspended pending further review.

SEC 10-Q•2mo ago

New Found Gold Continues to Deliver High-Grade Gold at Queensway

New Found Gold released high-grade channel and infill drill results from the Lotto Zone at its Queensway Gold Project, highlighting 23.7 g/t Au over 15.88 m in channel samples. Underground drilling returned 43.5 g/t Au over 4.75 m, with an included interval of 97.44 g/t Au over 2.00 m, results the company states are consistent with the current mineral resource block model. The 2026 work program is approximately 45% complete, with 40,100 meters of a planned 90,000 meters drilled, and an updated Technical Report is expected in the second half of 2026.

•3mo ago

New Found Gold Provides Queensway and Pine Cove Update

New Found Gold received a permit amendment for the conversion of its Pine Cove mill to a gravity-CIL circuit and was referred for an Environmental Preview Report regarding its Queensway Phase 1 project. The company remains on track to send first material to the mill in Q4 2027 and achieve Phase 1 commercial production in H2 2028. The Phase 1 plan outlines an initial capital cost of $155M for average annual production of 69.3 thousand ounces of gold at an AISC of US$1,282 per ounce. The mill expansion will increase throughput from 700 tpd to 1,400 tpd and is expected to improve recoveries at the Hammerdown deposit to approximately 92%. Additionally, the company recently received conditional approval to graduate to the Toronto Stock Exchange, where it will retain the NFGC ticker symbol.

•3mo ago

New Found Gold Receives Conditional Approval to Graduate to the Toronto Stock Exchange

New Found Gold received conditional approval to list its common shares on the Toronto Stock Exchange and graduate from the TSX Venture Exchange. Final approval is subject to meeting all TSX requirements, including documentation submission by September 14, 2026, after which shares will be delisted from the TSXV. Management highlighted that the move will improve visibility and liquidity as the company targets commercial production at its Hammerdown project in the second half of 2026.

•3mo ago

NFG: 8-K · acquisition merger

National Fuel Gas Company received approval from the Public Utilities Commission of Ohio (PUCO) for its pending acquisition of Vectren Energy Delivery of Ohio, LLC. The regulatory order accepts and approves the transaction, subject to certain conditions, thereby removing a major hurdle to closing the deal. The company initially agreed to acquire the Ohio natural gas local distribution business from CenterPoint Energy Resources Corp. in October 2025. The total aggregate purchase price is set at $2.62 billion, subject to customary adjustments. Closing is anticipated in the fourth quarter of calendar 2026, contingent on the satisfaction of remaining conditions. The purchase agreement stipulates that the transaction cannot close prior to October 1, 2026, without the seller's written consent.

SEC 8-K•3mo ago

Seneca Resources and Evolution Well Services Announce 3-Year Strategic Agreement to Deliver Sustainable Energy Solutions in Appalachia

Seneca Resources, the exploration and production segment of National Fuel Gas Company (NFG), entered a three-year strategic agreement with Evolution Well Services to deploy advanced electric fracturing technology across its Appalachian basin operations. The partnership aims to combine Evolution’s electric fracturing and power generation capabilities with Seneca’s natural gas production to improve operational efficiency and reduce the environmental footprint of completions. Management expects the initiative to reduce fuel and logistics costs, improve reliability, and lower the overall cost of ownership while maintaining strong environmental performance.

•4mo ago

National Fuel Increases Dividend Rate for 56th Consecutive Year

National Fuel Gas raised its quarterly dividend by 4% to 55.5 cents per share, marking the 56th consecutive annual increase. The new rate equates to $2.22 per share annually, payable July 15, 2026, to shareholders of record on June 30. The company has paid dividends for 124 consecutive years, reinforcing its status as a mature, cash-generative energy utility.

•4mo ago

New Found Gold Provides Hammerdown Update

New Found Gold reports that its Hammerdown project remains on schedule for commercial production in the second half of 2026. The Pine Cove Mill is now processing Hammerdown mineralized material, achieving 87% gold recovery and peak throughput of 1,394 tonnes per day, exceeding the 700 tpd design criteria. The company appointed Mark Ross as General Manager, Mines, and has created 40 new jobs, with over 90% of hires from Newfoundland and Labrador.

•4mo ago

New Found Gold Expands Queensway Work Program: Focus on Discovery and Resource Growth

New Found Gold announced an expanded $44 million work program at its Queensway Gold Project, scaling up to 90,000 meters of drilling using six diamond drill rigs. The program shifts focus from initial development-related drilling to a broader scope including 40,000 meters of targeted exploration drilling, district-scale surface exploration, and resource expansion below the AFZ Core. Management highlighted the system is open below the current mineral resource to more than 1,000 meters, with additional campaigns targeting the Dropkick Zone and regional prospects like Pauls Pond and Greenwood.

•4mo ago

NFG: 424B5 · prospectus supplement

National Fuel Gas Company is offering a multi-tranche series of senior unsecured notes to finance the $2.62 billion acquisition of Vectren Energy Delivery of Ohio, LLC from CenterPoint Energy Resources Corp. The preliminary prospectus supplement, dated May 27, 2026, indicates that the final pricing, interest rates, and maturity dates for the notes are not yet determined, as the document is subject to completion. The acquisition is expected to close in the fourth quarter of 2026, subject to regulatory approvals. National Fuel intends to use the net proceeds from this debt offering, along with a $1.2 billion seller note facility and short-term borrowings, to fund the transaction. The company also plans to use a portion of the proceeds to repurchase its outstanding 5.50% senior notes due in October 2026. This transaction significantly expands National Fuel's utility footprint, adding approximately 335,000 customers and 5,900 miles of pipeline in Ohio. The filing includes unaudited pro forma financial data reflecting the combined entity, showing increased total assets and debt levels, but also higher operating income and net income compared to historical standalone results.

SEC 424B5•4mo ago

NFG: 8-K · acquisition merger

National Fuel Gas Company filed an 8-K providing pro forma financial statements for its pending $2.62 billion acquisition of Vectren Energy Delivery of Ohio, LLC from CenterPoint Energy Resources Corp. The transaction, expected to close in Q4 2026, will expand NFG’s regulated natural gas distribution operations into Ohio, adding approximately 337,000 metered customers and 6,000 miles of pipeline. The deal is financed through a combination of $1.42 billion in cash and a $1.2 billion seller promissory note bearing 6.5% interest. To fund the cash portion, NFG completed a $350 million private placement of common stock at $79.50 per share in December 2025 and plans to issue $1.5 billion in senior unsecured notes at a weighted average rate of 5.04%. Pro forma results indicate the acquisition is accretive to earnings. For the six months ended March 31, 2026, pro forma diluted EPS is estimated at $4.88, compared to $4.58 for NFG’s historical results. The combined entity would report pro forma utility revenues of $856 million for the same period, reflecting the addition of CenterPoint Ohio’s $171 million in utility revenues.

SEC 8-K•4mo ago

New Found Gold Continues to Confirm Continuity of The AFZ Core and Intersect New Mineralization at Depth at The Queensway Gold Project

New Found Gold reported final infill drilling results from the 2025 program at the Queensway Gold Project, confirming the continuity of mineralization in the AFZ Core and intersecting new high-grade gold at depth. The release details 22,796 m of drilling in 201 holes, with significant intercepts including 9.51 g/t Au over 19.85 m at Keats West and 36.1 g/t Au over 2.00 m at Keats. Step-out drilling below proposed Phase 2 pits also identified new high-grade zones, which will be followed up in the 2026 program currently underway.

•5mo ago

National Fuel Reports Second Quarter Fiscal 2026 Earnings

National Fuel Gas reported Q2 fiscal 2026 adjusted EPS of $2.71, a 13% increase from the prior year, driven by a 17% rise in natural gas price realizations. Free cash flow for the first six months increased by $111 million to $160 million, while the company reaffirmed progress on major expansion projects and the pending Ohio utility acquisition. Management revised its full-year adjusted EPS guidance range to $7.45-$7.75, down from $7.60-$8.10, primarily due to a lowered natural gas price assumption of $3.00 per MMBtu for the remainder of the fiscal year.

•5mo ago