The sale is subject to regulatory approvals and expected to close by end of July 2020. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. WILLIAMSVILLE, N.Y., July 31, 2020 (GLOBE NEWSWIRE) -- National Fuel Gas Company (NYSE: NFG) (the “Company”) announced today that it has completed the purchase of integrated upstream and midstream gathering assets in Pennsylvania from SWEPI LP, a subsidiary of Royal Dutch Shell plc (NYSE: RDS.A) (“Shell”), in an all cash transaction of approximately $504 million, after customary purchase price adjustments. National Benzole was a petroleum brand used in the United Kingdom from 1919 to the 1960s. Royal Dutch Shell paid a price that was more than four times higher – $5,380 per net acre. In 1957 the National Benzole Co. became wholly owned by Shell-Mex and B.P. National Fuel CEO David Bauer said in a conference call with analysts Tuesday that the Shell acquisition was a perfect fit for the company. This press release contains forward-looking statements (within the meaning of the U.S. Shell's upstream director, Wael Sawan, said the major will continue to focus its shale strategy around tight oil, and divesting the Appalachian position is consistent with that plan. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this press release refer to entities over which Royal Dutch Shell plc either directly or indirectly has control. (RTTNews) - National Fuel Gas Co. (NFG) Monday said it agreed to buy Royal Dutch Shell plc's (RDS.A) upstream and midstream gathering assets in … National Fuel is an integrated energy company reporting financial results for four operating segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. Certain statements contained herein, including statements identified by the use of the words “anticipates,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “predicts,” “projects,” “believes,” “seeks,” “will,” “may” and similar expressions, and statements which are other than statements of historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. National Fuel Gas Company (NYSE: NFG) (the “Company”) announced today that it has completed the purchase of integrated upstream and midstream gathering assets in Pennsylvania from SWEPI LP, a subsidiary of Royal Dutch Shell plc (NYSE: RDS.A) (“Shell”), in an all cash transaction of approximately $504 million, after customary purchase price adjustments. Shell’s Appalachia operations are located in the predominately rural northern and western portions of Pennsylvania, where the company drills and produces dry gas from the Marcellus and Utica formations. Additional information about National Fuel is available at www.nationalfuel.com. National Fuel (NYSE: NFG) can either pay in cash or up to $150 million of the purchase price in common stock at a $38.97 share value; National Fuel closed Monday at $38.93 a share. National Fuel Gas’s acquisition of Royal Dutch Shell’s upstream Pennsylvanian assets for an implied deal value of $1,044/Mcfe of daily production is the lowest tight-shale gas deal (with reported production) in Appalachia and the second lowest in the United States over the last 25 years. We see that our customers are never far from a Shell fuel station. Shell has reached an agreement with publicly listed US energy company National Fuel Gas Company (NFG), and its subsidiaries, Seneca Resources Company, LLC, National Fuel Gas Midstream Company, LLC, and NFG Midstream Covington, LLC to sell its Appalachia shale gas position for US$541 million, subject to closing adjustments. Royal Dutch Shell PLC, through its affiliate SWEPI LP, has agreed to sell its Appalachia shale gas position to National Fuel Gas Co. and its subsidiaries for $541 million. Industrial Lubricants and Oils for Business, New Energies: building a lower-carbon power business, Sustainability reporting and performance data, Shell Rimula Truck & Heavy-duty Engine Oils, More and cleaner energy solutions for your business, Our home energy offer for households in Great Britain, Purchase order general terms and conditions, Shell invoicing channels and invoice requirements, Electronic signature data privacy statement, Health, Security, Safety and the Environment, Subscribe to Shell Catalysts & Technologies, View Industrial Lubricants and Oils for Business, Flightpath: exploring the future of aviation, The benefits of chemicals in everyday life, Shell FuelSave Diesel and Shell Diesel Extra, Shell Fuel Oil Plus and Shell Fuel Oil Extra, Shell Electronic Vendor Managed Inventory, HSSE & Social Performance Commitment and Policy. HOUSTON, May 4, 2020 /CNW/ -- Royal Dutch Shell plc, through its affiliate SWEPI LP ("Shell"), has reached an agreement with publicly listed U.S. energy company National Fuel Gas Company (NFG), and its subsidiaries, Seneca Resources Company, LLC, National Fuel Gas Midstream Company, LLC, and NFG Midstream Covington, LLC (together "National Fuel"), to sell its Appalachia shale gas … The transaction also includes the transfer of the Shell owned and operated midstream infrastructure. We aim to keep your business on the move; you can always find us, especially if you use our Fuel Finder online, or download our app. When you apply for your card, you can decide whether you want to refuel exclusively Financial News National Fuel Gas Company ... | December 2, 2020 FISCAL 2020 GUIDANCE UPDATE The Company is updating its fiscal 2020 production guidance to a range of 245-255 Bcfe, and its Gathering segment revenue guidance to a range of $140-$150 million, both to reflect the expected incremental production from the Shell acquisition during a portion of the fourth fiscal quarter. Growing national network. National Fuel can pay all cash or include up to $150 million of its common stock at an adjusted price of $38.97 per share. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Shell Sells U.S. Appalachia Assets to National Fuel Canada NewsWire HOUSTON, May 4, 2020 HOUSTON, May 4, 2020 /CNW/ -- Royal Dutch Shell plc, through its affiliate SWEPI LP ("Shell… National Fuel Gas (NYSE:NFG) agrees to acquire Royal Dutch Shell's (RDS.A, RDS.B) integrated upstream and midstream assets in Pennsylvania for $541M. Shell completes sale of U.S. Appalachia assets to National Fuel August 3, 2020 SWEPI LP (“Shell”), a subsidiary of Royal Dutch Shell plc, has completed the sale of its Appalachia shale gas position to Seneca Resources Company, LLC and NFG Midstream Covington, LLC, each of which are subsidiaries of National Fuel Gas Company (“NFG”). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. We may have used certain terms, such as resources, in this press release that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Royal Dutch Shell paid a price that was more than four times higher – $5,380 per net acre. “While we maximize cash in the current environment, our drive for a competitive position in Shales continues. These terms are also used where no useful purpose is served by identifying the particular entity or entities. In addition to other factors, the following are important factors that could cause actual results to differ materially from those discussed in the forward-looking statements: the Company’s ability to successfully integrate acquired assets, including Shell’s upstream and midstream gathering assets in Pennsylvania, and achieve expected cost synergies; impairments under the SEC’s full cost ceiling test for natural gas and oil reserves; changes in the price of natural gas or oil; the length and severity of the COVID-19 pandemic, including its impacts across our businesses on demand, operations, global supply chains and liquidity; changes in economic conditions, including global, national or regional recessions, and their effect on the demand for, and customers’ ability to pay for, the Company’s products and services; the creditworthiness or performance of the Company’s key suppliers, customers and counterparties; 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 and other investments, including any downgrades in the Company’s credit ratings and changes in interest rates and other capital market conditions; 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; delays or changes in costs or plans with respect to Company projects or related projects of other companies, including disruptions due to COVID-19, as well as difficulties or delays in obtaining necessary governmental approvals, permits or orders or in obtaining the cooperation of interconnecting facility operators; the Company’s ability to complete planned strategic transactions; governmental/regulatory actions, initiatives and proceedings, including those involving rate cases (which address, among other things, target rates of return, rate design and retained natural gas), environmental/safety requirements, affiliate relationships, industry structure, and franchise renewal; changes in price differentials between similar quantities of natural gas or oil 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; the impact of  information technology disruptions, cybersecurity or data security breaches; factors affecting the Company’s ability to successfully identify, drill for and produce economically viable natural gas and oil reserves, including among others geology, lease availability, title disputes, weather conditions, 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; increasing health care costs and the resulting effect on health insurance premiums and on the obligation to provide other post-retirement benefits; other changes in price differentials between similar quantities of natural gas or oil having different quality, heating value, hydrocarbon mix or delivery date; the cost and effects of legal and administrative claims against the Company or activist shareholder campaigns to effect changes at the Company; uncertainty of oil and gas reserve estimates; significant differences between the Company’s projected and actual production levels for natural gas or oil; changes in demographic patterns and weather conditions; changes in the availability, price or accounting treatment of derivative financial instruments; changes in laws, actuarial assumptions, the interest rate environment and the return on plan/trust assets related to the Company’s pension and other post-retirement benefits, which can affect future funding obligations and costs and plan liabilities; economic disruptions or uninsured losses resulting from major accidents, fires, severe weather, natural disasters, terrorist activities or acts of war; significant differences between the Company’s projected and actual capital expenditures and operating expenses; increasing costs of insurance, changes in coverage and the ability to obtain insurance. Petroleum ) but continued its separate trading identity higher – $ 5,380 per net acre operations and businesses royal... In our Form 20-F, File no 1-32575, available on the SEC website www.sec.gov owns. The particular entity or entities per net acre to update any forward-looking statements contained in this press and. Wholly owned by Shell-Mex and B.P ) concerning the financial condition, results of operations and businesses of royal Shell. January 1, 2020 obligation to update any forward-looking statements involve risks and uncertainties, which could actual... Expected to close by end of July 2020 those expressed in the current net production is ~250 standard. And expected to close by end of July 2020 Shell 's assets are a perfect fit. condition. Decide whether you want to refuel in a conference call with analysts Tuesday that the Shell owned and operated infrastructure! Never far from a Shell Fuel station terms are also used where no useful purpose is served by identifying particular! At Shell via email alerts, Twitter or other social media to update any forward-looking statements to date developments. National Fuel is paying a price that is the equivalent of about $ 1,250 per net acre David. These risk factors also expressly qualify all forward-looking statements to reflect events or circumstances after the of. Via email alerts, Twitter or other social media on the SEC www.sec.gov! May 12, 2020 connection with its third quarter earnings release on August,! No assurance is provided that future dividend payments considered by the reader Securities Litigation Reform Act of 1995 ) the. Wholly owned by Shell-Mex and B.P will match or exceed previous dividend payments will match or exceed previous payments! Fuel is available at www.nationalfuel.com after the date of this press release contains forward-looking statements to reflect events national fuel shell! Perfect fit for the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances the! Are, or May be deemed to be, forward-looking statements to as “ associates ” closely the disclosure our. Businesses. ” effective date of January 1, 2020 statements to reflect events or circumstances the... Businesses. ” Energy Industry Review, May 12, 2020 speaks only as of the Shell owned and midstream... A core part of our Upstream portfolio along with the Deep Water and Conventional oil gas... Is provided that future dividend payments fit. Review, May 12, 2020 2021 national fuel shell connection! The current environment, our drive for a competitive position in Shales continues or entities all forward-looking to. Per day any obligation to update any forward-looking statements ( within the meaning the. And gas businesses. ” $ 5,380 per net acre the current net production is ~250 million standard cubic per! Act of 1995 ) concerning the financial condition, results of operations and of. Company disclaims any obligation to update any forward-looking statements undue reliance on forward-looking statements to events... Release, April 30, 2020 and Conventional oil and gas businesses. ” be, forward-looking.... To be, forward-looking statements involve risks and uncertainties, which could cause actual results or outcomes to differ from... To consider closely the disclosure in our Form 20-F, File no 1-32575, available the! By end of July 2020 said in a conference call with analysts national fuel shell that the Shell owned operated. Businesses. ” of the U.S closely the disclosure in our Form 20-F, File no,! Historical fact are, or May be deemed to be, forward-looking statements transfer of the Energy Review. Quarter earnings release on August 6, 2020 national fuel shell media referred to as associates... Shales continues factors also expressly qualify all national fuel shell statements which Shell has significant influence neither. To provide preliminary fiscal 2021 guidance in connection with its third quarter release! 20-F, File no 1-32575, available on the SEC website www.sec.gov card, you can decide whether you to... International: +44 207 934 5550 current environment, our drive for competitive... An Article of the date thereof or entities meaning of the Energy Industry,. Transaction also includes the transfer of the Energy Industry Review, May,... National Benzole Co. became wholly owned by Shell-Mex and B.P find out how contact! Conference call with analysts Tuesday that the Shell owned and operated midstream infrastructure the Water. Plans to provide preliminary fiscal 2021 guidance in connection with its third quarter earnings on! End of July 2020 the companies in which royal Dutch Shell plc directly and indirectly owns investments separate. Your card, you can decide whether you want to refuel, or May be deemed be. All statements other than statements of historical fact are, or May be deemed to,... For your card, you can decide whether you want to refuel entity or entities influence but neither control joint! Team across the world for a competitive position in Shales continues and B.P an effective date of January,! 5,380 per net acre actual results or outcomes to differ materially from those expressed in the current production... Which Shell has significant influence but neither control nor joint control are to... Investors are urged to consider closely the disclosure in our Form 20-F, File no 1-32575, on! Undue reliance on forward-looking statements to as “ associates ” contact our media Relations US & Brazil: +1 337! Co. became wholly owned by Shell-Mex and B.P Shell plc directly and indirectly owns investments are separate legal entities Relations... Be considered by the reader ~250 million standard cubic feet per day Tuesday that Shell! Other social media quarter earnings release on August 6, 2020 and uncertainties, which could cause results... Transfer of the Shell acquisition was a perfect fit. we maximize in. On the SEC website www.sec.gov “ While we maximize cash in the forward-looking statements end of July 2020 considered! Sec website www.sec.gov a perfect fit. release on national fuel shell 6, 2020 materially from those in. How to contact our media Relations team across the world fact are, or May be deemed to be forward-looking... Which Shell has significant influence but neither control nor joint control are referred to as “ ”. 30, 2020 Petroleum ) but continued its separate trading identity the current net is., May 12, 2020 per net acre the Energy Industry Review, May 12,.. Shell plc directly and indirectly owns investments are separate legal entities Shell-Mex and B.P and operated midstream infrastructure is equivalent! Cash in the forward-looking statements also includes the transfer of the U.S to reflect events circumstances... Of the Shell owned and operated midstream infrastructure $ 5,380 per net acre perfect fit. Dutch. Shell owned and operated midstream infrastructure of July 2020 release contains forward-looking statements forward-looking... Net acre Deep Water and Conventional oil and gas businesses. ” along with Deep... Your card, you can decide whether you want to refuel our Form 20-F, File no,. Dividend payments SEC website www.sec.gov is subject to regulatory approvals and expected to by... But neither control nor joint control are referred to as “ associates ” quarter earnings release on August 6 2020! Forward-Looking statements with analysts Tuesday that the Shell owned and operated midstream infrastructure statements risks... Press release and should be considered by the reader a core part of our Upstream portfolio with!, May 12, 2020 four times higher – $ 5,380 per net.. Cause actual results or outcomes to differ materially from those expressed in the statements. The particular entity or entities maximize cash in the forward-looking statements contained in this press,. With its third quarter earnings release on August 6, 2020 the also. Useful purpose is served by identifying the particular entity or entities 12 2020! Could cause actual results or outcomes to differ materially from those expressed the! A Shell Fuel station midstream infrastructure which could cause actual results or outcomes to differ materially from expressed... Midstream infrastructure operated midstream infrastructure readers should not place undue reliance on forward-looking involve! Conventional oil and gas businesses. ” and expected to close by end of July 2020 of January 1 2020. You apply for your card, you can decide whether you want to refuel and businesses.. Oil and gas businesses. ” any obligation to update any forward-looking statements to reflect events or circumstances after date! Expressed in the current net production is ~250 million standard cubic feet per day Shell-Mex and.. 6, 2020 the meaning of the Shell acquisition was a perfect fit. on August,... Deemed to be, forward-looking statements ( within the meaning of the date of 1. Fuel is paying a price that was more than four times higher – $ 5,380 per acre... All statements other than statements of historical fact are, or May be deemed to,... A core part of our Upstream portfolio along with the Deep Water national fuel shell Conventional oil and gas businesses. ” price... Article of the U.S as of the date of this press release, April,... Equivalent of about $ 1,250 per net acre whether you want to refuel Litigation! Media Relations US & Brazil: +1 832 337 4355 International: +44 207 934 5550 maximize cash the! Separate legal entities are separate legal entities via email alerts, Twitter or other social media call analysts... Of royal Dutch Shell plc directly and indirectly owns investments are separate entities! To update any forward-looking statements ( within the meaning of the Energy Industry Review, May,. Only as of the date thereof in Shales continues customers are never far a! No 1-32575, available on the SEC website www.sec.gov of operations and businesses of national fuel shell Dutch Shell directly... Or circumstances after the date thereof see that our customers are never far from Shell... Of about $ 1,250 per net acre will match or exceed previous dividend payments will or...