National Fuel Gas

National Fuel Gas Company is a diversified American energy enterprise headquartered in Williamsville, New York. Incorporated in 1902, it is one of the older gas utility companies in the United States and has developed a business structure spanning regulated utility operations and competitively oriented energy businesses. The company trades on the New York Stock Exchange under the symbol NFG and operates primarily in New York, Pennsylvania, and the broader Appalachian natural-gas region. National Fuel's five principal operating segments are Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. Its Utility segment, conducted through National Fuel Gas Distribution Corporation, sells natural gas and provides gas-transportation services to customers in western New York and northwestern Pennsylvania. The utility system serves more than 756,000 customers, including residential, commercial, industrial, and other users. The Pipeline and Storage segment provides interstate transportation and storage services for both affiliated and unaffiliated customers. National Fuel's integrated system includes approximately 2,600 miles of pipeline and 28 underground natural-gas storage fields, four of which are co-owned with nonaffiliated companies. Empire Pipeline, Inc. is among the company's pipeline businesses. The Gathering segment, operated through National Fuel Gas Midstream Company, supports the movement of gas from production areas into larger transmission systems. Exploration and production are conducted principally through Seneca Resources Company, LLC. Seneca focuses on the Marcellus and Utica shale formations in Pennsylvania, where it controls approximately 1.2 million net prospective acres and reports roughly 1.2 billion cubic feet per day of net total production in the supplied reference material. Its operations are supported by Appalachian infrastructure and by water-management activities conducted through Highland Field Services. Seneca also completed the divestiture of its California assets in June 2022 after approximately 35 years of operation there. National Fuel has also operated an energy-marketing business through National Fuel Resources, Inc. That segment markets natural gas to industrial, commercial, public-authority, and residential customers in New York and Pennsylvania. The group therefore combines regulated customer delivery with production, midstream infrastructure, storage, and market-facing gas sales. The company's historical identity is closely associated with gas-system engineering. It helped demonstrate that depleted gas fields could be converted into underground storage reservoirs, including the Zoar Field facility south of Buffalo. This capability allowed the company to buy lower-cost gas during periods of weaker seasonal demand, store it, and withdraw it during higher-demand winter periods. National Fuel also developed a gas-fired generator for electricity used in cathodic protection, a technology intended to reduce corrosion on pipeline systems. In 1975 it introduced a balanced-billing arrangement under which customers made equal payments for eleven months, followed by an annual reconciliation. National Fuel relocated its headquarters from 10 Lafayette Square in Buffalo to 6363 Main Street in Williamsville in 2002. Its current corporate profile combines a long-established regional utility franchise with upstream and midstream assets concentrated in the Appalachian Basin. In 2024 the company published a corporate responsibility report covering environmental, social, and governance policies and performance. In October 2025 it announced an intention to acquire CenterPoint Energy's Ohio natural-gas utility business for total consideration of approximately $2.62 billion, subject to completion conditions and an expected closing in the fourth quarter of calendar 2026.

National Fuel Gas was incorporated in 1902 and developed as one of the early gas utility companies in the United States. Its historical base was the delivery of natural gas to customers in the Buffalo and western New York area, later extending into northwestern Pennsylvania. Over time, the company built a more diversified structure that combined regulated gas distribution with pipeline transportation, underground storage, gas production, gathering, and energy marketing. A significant part of National Fuel's technical history concerns the use of depleted gas fields as storage reservoirs. Company engineers helped establish the feasibility of converting a depleted underground field into a facility capable of storing natural gas for later withdrawal. The Zoar Field facility, located roughly forty miles south of Buffalo, became an early example of this approach and provided the company with a strategic seasonal-storage asset. During the middle decades of the twentieth century, the ability to buy gas during lower-demand summer periods, move it to storage, and withdraw it during winter demand peaks became commercially important. The storage system also connected National Fuel to the expanding interstate gas infrastructure that linked eastern markets with production areas farther south and west. The company also developed a gas-fired generator to supply electricity for cathodic-protection equipment. Cathodic protection is used to limit corrosion on buried metal pipelines, making the development relevant to the maintenance and safety of gas-transmission infrastructure. In 1975 National Fuel introduced a balanced-billing program. Under the arrangement described in historical accounts, customers paid eleven equal monthly amounts and settled any accumulated overpayment or underpayment in the twelfth month. The system was presented as a way to make household gas bills more predictable. National Fuel's business later expanded beyond distribution. National Fuel Gas Supply Corporation and Empire Pipeline became part of its pipeline and storage activities, while Seneca Resources became the principal exploration-and-production vehicle. Seneca's contemporary upstream focus is the Appalachian Basin, especially Pennsylvania's Marcellus and Utica shale formations. The company has also developed gathering and water-management capabilities to support its production activities. Highland Field Services, established in 2015 as a Seneca subsidiary, manages facilities for treating, storing, transporting, and reusing oil-and-gas liquids and produced water. Its operations include facilities in Pennsylvania and injection-well assets in Pennsylvania and Ohio. The group divested its California assets in June 2022 after operating there for approximately 35 years, concentrating its upstream portfolio more heavily on Appalachia. The company relocated its headquarters from 10 Lafayette Square in Buffalo to 6363 Main Street in Williamsville in 2002. Its present operating model consists of five segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. The utility business serves western New York and northwestern Pennsylvania, while the other segments provide production, infrastructure, storage, and gas-market services across the region. In 2024 National Fuel issued a corporate responsibility report covering ESG-related policies and performance. In October 2025 it announced its intention to acquire CenterPoint Energy's Ohio natural-gas utility business. The proposed transaction would broaden National Fuel's regulated utility presence through the addition of approximately 5,900 miles of pipeline and about 335,000 customers, subject to completion of the transaction and other conditions.

• 2025

  Ohio utility acquisition is announced

  [2]National Fuel official websitenationalfuel.com

  National Fuel announces its intention to acquire CenterPoint Energy's Ohio natural-gas utility business for approximately $2.62 billion, with an expected closing in late 2026.

• 2024

  Corporate responsibility report is released

  [2]National Fuel official websitenationalfuel.com

  National Fuel publishes its 2024 Corporate Responsibility Report covering ESG policies, practices, and performance measures.

• 2022

  California assets are divested

  [1]National Fuel Gasen.wikipedia.org

  Seneca Resources completes the divestiture of National Fuel's California assets after approximately 35 years of operation there.

• 2015

  Highland Field Services is established

  [1]National Fuel Gasen.wikipedia.org

  Seneca Resources establishes Highland Field Services to address water-management requirements for its Appalachian operations and other oil and gas companies.

• 2002

  Headquarters moves to Williamsville

  [1]National Fuel Gasen.wikipedia.org

  The company relocates its headquarters from 10 Lafayette Square in Buffalo to 6363 Main Street in Williamsville, New York.

• 1975

  Balanced billing is introduced

  [1]National Fuel Gasen.wikipedia.org

  National Fuel introduces a customer-payment plan based on equal monthly installments followed by an annual reconciliation.

• 1902

  National Fuel Gas is incorporated

  [1]National Fuel Gasen.wikipedia.org

  National Fuel Gas Company is incorporated in the United States and begins the corporate history that leads to its current utility and energy portfolio.

A vertically integrated regional natural-gas company combining a regulated utility franchise with Appalachian production, gathering, pipeline, storage, and energy-marketing operations.

• Natural-gas utility

  National Fuel Gas Distribution

  The regulated Utility segment sells natural gas and provides natural-gas transportation services through a local distribution system serving more than 756,000 customers in western New York and northwestern Pennsylvania. Its customer base includes residential, commercial, industrial, and other users.

• Gas infrastructure

  Pipeline and Storage

  National Fuel's pipeline and storage businesses provide interstate natural-gas transportation and underground storage for affiliated and non-affiliated customers. The reported system includes approximately 2,600 miles of pipeline and 28 underground storage fields, including fields co-owned with outside companies.

• Exploration and production

  Seneca Resources

  Seneca Resources explores for, develops, and produces oil and natural gas, with its current upstream focus on the Marcellus and Utica shale formations in Pennsylvania. The supplied reference describes approximately 1.2 million net prospective acres and about 1.2 Bcf per day of net total production.

• Oil and gas water management · 2015

  Highland Field Services

  Highland Field Services manages water and liquid-waste infrastructure supporting Appalachian oil and gas operations. Its facilities use treatment, storage, transport, reuse, and zero-liquid-discharge processes intended to reduce freshwater requirements and handle produced water.

• Energy marketing

  National Fuel Resources

  National Fuel Resources markets natural gas to industrial, commercial, public-authority, and residential customers in New York and Pennsylvania. The segment complements the group's regulated utility, production, and infrastructure businesses with direct market-facing gas sales.

• 2025

  Proposed acquisition of CenterPoint's Ohio utility businessM&A

  Background

  National Fuel sought to expand its regulated utility footprint beyond its established New York and Pennsylvania service territory.

  Action taken

  The company announced its intention to acquire the equity interests in CenterPoint Energy's Ohio natural-gas utility business for approximately $2.62 billion. The proposed assets include about 5,900 miles of distribution and transmission pipeline and serve approximately 335,000 customers.

  Aftermath

  The transaction was expected to close in the fourth quarter of calendar 2026, subject to completion conditions. The supplied materials do not establish whether closing occurred.

  Total consideration. Approximately $2.62 billion transaction consideration (Announced October 2025; expected closing in the fourth quarter of calendar 2026)

  Source

• 2025

  National Fuel announces intended acquisition of CenterPoint's Ohio natural-gas utility business[2]National Fuel official websitenationalfuel.com

  M&A

  In October 2025, National Fuel announced an agreement in principle to acquire the equity interests in CenterPoint Energy's Ohio natural-gas utility business for approximately $2.62 billion. The proposed transaction would add about 5,900 miles of distribution and transmission pipeline and approximately 335,000 customers, with closing expected in the fourth quarter of calendar 2026.

• 2024

  National Fuel publishes 2024 Corporate Responsibility Report[2]National Fuel official websitenationalfuel.com

  Other

  National Fuel released a corporate responsibility report describing its environmental, social, and governance policies, practices, and performance measures.

1. 1National Fuel Gasen.wikipedia.org
2. 2National Fuel official websitenationalfuel.com
3. 3National Fuel board to complete review of plan to split company by October 15 - Reutersnews.google.com
4. 4National Fuel Declares Quarterly Dividend - National Fuel Gasnews.google.com
5. 5Shell sells Appalachia shale gas assets for $541 millionworldoil.com
6. 6Shell Sells U.S. Appalachia Assets to National Fuelprnewswire.com