Introducing Pennsylvania's Dry Gas Geneseo Shale

March 28, 2014

NEW ORLEANS - Just when everyone thought it was safe to get back in the natural gas water comes news of more potential Devonian-aged prolific dry gas in the Pennsylvania's Geneseo Shale.

National Fuel Gas Co. (NYSE: NFG) reported results from its first Geneseo test in Lycoming County, Pa. Wednesday at the Howard Weil Energy Conference in New Orleans.

"We expected it to be a good a well," said Matt Cabell, president of National Fuel's Seneca Resources Corp. subsidiary. "Frankly it is better than what we even expected. Certainly it passed our expectations on peak 24-hour rate at 14.1 million cubic feet per day, and averaged 8.6 million cubic feet per day over a 30-day period. These wells won't be as big as Marcellus wells. They decline a little faster, but they are still very competitive wells and make sense even at today's prices.”

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