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Stock Market & Financial Investment News

News Breaks
November 27, 2012
17:07 EDTNFGNational Fuel provides update on program to asses Utica Shale formation
Seneca Resources provided an update on its program to assess the Utica Shale formation, as a second producing horizon underlying much of its Marcellus Shale acreage in western Pennsylvania. In Forest County, Pa., Seneca has flow tested its first horizontal Utica Shale well at a peak 24-hour rate of 3.9 million cubic feet per day. Initial testing on this well began on Nov. 11, and lasted for six days. Currently, this well is shut-in while awaiting pipeline infrastructure and is expected to begin production in the second quarter of fiscal 2013. Thus far, Seneca has drilled two horizontal and three vertical exploration wells into the Utica Shale formation. The second horizontal well, located in the Mt. Jewett prospect area in McKean County, Pa., currently has three frac stages complete and the ability to complete additional stages is under evaluation.
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September 12, 2014
17:01 EDTNFGGabelli reports 9.16% stake in National Fuel, urges spin-off of utility unit
GAMCO, pursuant to Rule 14a-8 under the Securities Exchange Act of 1934, is presenting a proposal to the company, for inclusion in the Proxy and Proxy Statement for its 2015 Annual Meeting of Stockholders, requesting that the company's Board of Directors and management act expeditiously, consistent with effective tax considerations, to engage an investment banking firm to effectuate a spin-off of the its utility segment, which represents the operations of National Fuel Distribution Corporation, into a separate publicly traded C-corporation.

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