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National Fuels invests $500 million in Pennsylvania deal

The added production is expected to generate approximately $125 million in incremental EBITDA to NFG in the year after the deal closes.
National Fuel headquarters in Williamsville

BUFFALO, N.Y. — National Fuel Gas Company said that it has entered into a purchase and sale agreement to acquire upstream and midstream gathering assets in Tioga County, Pennsylvania from a subsidiary of Royal Dutch Shell.

Williamsville-based National Fuel will pay $541 million for some 200,000 net acres in the north central part of the state and just south of Steuben and Chemung counties along New York's Southern Tier. Closing adjustments will put the final price at closer to $500 million, the company said.

For more on this story, please visit the Buffalo Business First website.

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