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Seneca Reports Big Jump in Natural Gas Production From New Pennsylvania Assets
Seneca Resources Co. LLC’s acquisition of the Royal Dutch Shell plc Pennsylvania assets last year helped drive a significant gain in fiscal second quarter production volumes.
Seneca last July closed on a deal to acquire 450,000 net acres across the state including 350 producing Marcellus and Utica shale wells in Tioga County. Seneca, a subsidiary of National Fuel Gas Co. (NFG), said fiscal 2Q2021 production increased 43% year/year to 85.2 Bcfe.
The bulk of the production gain came from the Eastern Development Area (EDA), which includes Tioga County. Net production increased by 21.2 Bcf year/year to 50.2 Bcf in the EDA, while volumes from Seneca’s Western Development Area in northwest Pennsylvania increased 4.6 Bcf to 31.3 Bcf over the same time. The company was most active on the western side of the state, however, bringing online 13 wells in the WDA during its second quarter.
Operator
Good day and thank you for standing by. Welcome to the Q2 2021 National Fuel Gas Company Earnings Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions]
I would now like to hand the conference over to your speaker today, Mr. Ken Webster, Director of Investor Relations. Thank you, sir. Please go ahead.
Kenneth E. Webster
Director of Investor Relations
Thank you, Brenda, and good morning. We appreciate you joining us on today s conference call for a discussion of last evening s earnings release. With us on the call from National Fuel Gas Company are Dave Bauer, President and Chief Executive Officer; Karen Camiolo, Treasurer and Principal Financial Officer; and Justin Loweth, President of Seneca Resources. At the end of the prepared remarks, we will open the discussion to questions.