National Fuel Gas Company, through its subsidiaries, operates as a diversified energy company. It operates in five segments: Utility, Pipeline and Storage, Exploration and Production, Energy Marketing, and Timber. The Utility segment offers natural gas transportation services to approximately 725,000 customers in Buffalo, Niagara Falls, and Jamestown in New York, as well as in Erie and Sharon, Pennsylvania. The Pipeline and Storage segment provides interstate natural gas transportation and storage services for affiliated and nonaffiliated companies through an integrated gas pipeline system extending from southwestern Pennsylvania to the New York-Canadian border at the Niagara River and eastward to Ellisburg and Leidy, Pennsylvania; and 32 underground natural gas storage fields. This segment also transports natural gas for utilities, industrial customers, and power producers in New York through a 157-mile pipeline. The Exploration and Production segment engages in the exploration, development, and purchase of natural gas and oil reserves in California, Appalachian region of the United States, Gulf Coast region of Texas, Louisiana, and Alabama. As of September 30, 2007, this segment had U.S. reserves of 47,586 thousand barrels of oil and 205,389 million cubic feet of natural gas. The Energy Marketing segment markets natural gas to industrial, commercial, public authority, and residential end-users in western and central New York, and northwestern Pennsylvania. The Timber segment markets timber; owns two sawmill operations; and processes timber primarily of hardwoods. The company also develops and operates mid-range independent power production and landfill gas electric generation facilities. National Fuel Gas Company was incorporated in 1902 and is based in Williamsville, New York.
Analysts'
Recommendation: | Hold |
| 30 Days Ago: | Buy |
|
| Analysts' Target: | $55 |
| Analysts' Targets |
| UBS Securities | $69 |
| Add |
Wednesday, May 21, 2008
|
| Lehman Brothers | $40 |
| Underweight |
Friday, January 25, 2008
|
$58.3 (06/29/08)
