National Fuel Gas (NFG) Reports Acquisition of Shell's (RDS-A) Integrated Upstream & Midstream Assets in Pennsylvania
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National Fuel to Acquire Shell’s Integrated Upstream and Midstream Assets in Pennsylvania
May 4, 2020 4:16 PM EDTOpportunistic Acquisition with Contiguous Footprint and Highly Synergistic Operations Advances National Fuel's Long-Term, Returns-Focused Integrated Strategy within Appalachia
WILLIAMSVILLE, N.Y., May 04, 2020 (GLOBE NEWSWIRE) --
STRATEGIC RATIONALE
Unique acquisition opportunity builds upon Companys diversified, integrated business model, with upstream and midstream assets that are geographically contiguous and highly synergistic to existing Tioga County, Pa. operations, and firm transportation capacity on the Companys Empire Pipeline systemAcquisition is accretive to free cash flow (funds from operations less capital expenditures), and to earnings per share, with capital expenditure guidance for fiscal 2020... More