74.14
+0.97%
Close of 9 Nov 2026, in USD
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About National Fuel Gas
From its filings with the US Securities and Exchange Commission
National Fuel Gas is based in Williamsville, New York and is incorporated in New Jersey. Its shares trade on NYSE under the ticker NFG. The SEC classifies its business as natural gas distribution. In the fiscal year to 30 September 2025, it reported revenue of $2.28bn and net income of $518.5m. At that date it held total assets of $8.72bn and shareholders' equity of $3.09bn. By business, Production of Natural Gas brought in 48.5% of revenue, followed by Natural Gas Residential Sales at 26.2% and Natural Gas Transportation Service at 14.3%.
National Fuel Gas Company (the Registrant), incorporated in 1902, is a holding company organized under the laws of the State of New Jersey. The Registrant owns directly or indirectly all of the outstanding securities of its subsidiaries. Reference to “the Company” in this report means the Registrant, the Registrant and its subsidiaries or the Registrant’s subsidiaries as appropriate in the context of the disclosure. Also, all references to a certain year in this report relate to the Company’s fiscal year ended September 30 of that year unless otherwise noted.
The Company is a diversified energy company engaged principally in the production, gathering, transportation, storage and distribution of natural gas. The Company operates an integrated business, with assets centered in western New York and Pennsylvania, being used for, and benefiting from, the production and transportation of natural gas from the Appalachian Basin. Current natural gas production development activities are focused in the Marcellus and Utica shales, geological formations that are present nearly a mile or more below the surface in the Appalachian region of the United States. Pipeline development activities are designed to transport natural gas production to both existing and new markets. The common geographic footprint of the Company’s subsidiaries enables them to share management, labor, facilities and support services across various businesses and pursue coordinated projects designed to produce and transport natural gas from the Appalachian Basin to markets in the eastern United States and Canada.
Quoted from its 10-K, filed 21 Nov 2025. Read the filing on SEC.gov ↗
Company facts
- Sector
- Utilities
- Industry
- Gas Utilities
- Listed since
- 25 Jul 1955
- Employees
- 2,322
- Website
- natfuel.com ↗
- Head office
- 6363 MAIN STREET, WILLIAMSVILLE, NY, 14221-5887
- Incorporated in
- NJ
- Classification
- Natural Gas Distribution
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. David SmithIndependent Chairman of the Board, since 2005$390,061
- Mr. David BauerPresident, Chief Executive Officer, Director, since 2010$8.7m
- Mr. Timothy SilversteinChief Financial Officer, Treasurer$2.5m
- Mr. Michael ColpoysPresident of National Fuel Gas Distribution Corporation
- Pol. Capt. Donna DeCarolisPresident - Distribution Corporation$3.3m
- Mr. Joseph Del VecchioPresident of National Fuel Gas Supply Corporation and Empire Pipeline, Inc.
- Mr. Justin LowethPresident of Seneca Resources Company LLC, President of Midstream$6.7m
- Mr. Ronald KraemerChief Operating Officer, President of Supply Corporation and Empire Pipeline Inc$5.8m
- Mr. Martin KrebsSenior Vice President of Distribution Corporation, Chief Information Officer
- Ms. Elena MendelChief Accounting Officer, Controller
- Mr. Michael RevilleGeneral Counsel, Company Secretary, Senior Vice President of Distribution Corporation
- Mr. Jeffrey ShawLead Independent Director$331,311
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 73
- Environment
- 52
- Social
- 97
- Governance
- 68
- Direct emissions (scope 1)
- 1,601,854 t
- Energy emissions (scope 2)
- 8,047 t
- Women in the workforce
- 27%
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- National Fuel Gas Co has strong financial performance, consistently delivering positive revenue growth and profitability. The company's diversified business segments, including exploration and production, pipeline and storage, and utility operations, provide a stable revenue stream.
- National Fuel Gas Co has a strong asset base, including a vast network of natural gas reserves, pipelines, and storage facilities. This enables the company to efficiently meet customer demand and capitalize on opportunities in the natural gas industry.
- The company has a well-established reputation and longstanding relationships with customers, suppliers, and regulatory agencies. This enhances its credibility in the market and facilitates smooth operations.
Weaknesses
- One of the weaknesses of National Fuel Gas Co is its dependence on natural gas prices. Fluctuations in prices can significantly impact the company's financial performance, making it vulnerable to market volatility.
- The company's utility operations are subject to regulatory scrutiny and compliance requirements. Any changes in regulations or unfavorable decisions can affect the company's operations and financials.
- National Fuel Gas Co may face operational challenges related to exploration and production activities, such as the availability of skilled labor, technical expertise, and environmental concerns.
Opportunities
- The increasing demand for natural gas as a cleaner energy source presents an opportunity for National Fuel Gas Co to expand its customer base and increase revenue. This is particularly relevant in the context of the global shift towards cleaner and more sustainable energy alternatives.
- The company can explore growth opportunities through strategic acquisitions or partnerships to expand its market presence and diversify its portfolio. This can help mitigate risks associated with market fluctuations and enhance overall market position.
- Technology advancements and innovations in the natural gas industry provide an opportunity for National Fuel Gas Co to improve operational efficiency, reduce costs, and enhance overall competitiveness.
Threats
- Competition from other energy sources, such as renewable energy, poses a threat to National Fuel Gas Co's market share. Increasing awareness and government support for renewable alternatives may reduce the demand for natural gas.
- Changes in government policies, regulations, or tax incentives can impact the natural gas industry. National Fuel Gas Co must adapt to these changes and ensure compliance to mitigate potential risks and maintain regulatory stability.
- Environmental concerns and public perception of natural gas as a fossil fuel contribute to potential reputational risks for National Fuel Gas Co. The company needs to prioritize sustainability initiatives and communicate its efforts to address environmental concerns.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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