NATIONAL FUEL GAS CO
For the period ended Jun 30, 2026. Filed Jul 30, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Jul 30, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2026
OR
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from____ to_____
Commission File Number 1-3880
NATIONAL FUEL GAS COMPANY
(Exact name of registrant as specified in its charter)
| New Jersey | 13-1086010 | |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |
| 6363 Main Street | ||
| Williamsville, | New York | 14221 |
| (Address of principal executive offices) | (Zip Code) | |
(716)857-7000
(Registrant's telephone number, including area code)
| Securities registered pursuant to Section 12(b) of the Act: | ||
|---|---|---|
| Title of Each Class | Trading Symbol | Name of Each Exchangeon Which Registered |
| Common Stock, par value $1.00 per share | NFG | New York Stock Exchange |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large Accelerated Filer | ☑ | Accelerated Filer | ☐ |
|---|---|---|---|
| Non-Accelerated Filer | ☐ | Smaller Reporting Company | ☐ |
| Emerging Growth Company | ☐ | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☑
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: Common stock, par value $1.00 per share, outstanding at July 29, 2026:95,045,099 shares.
GLOSSARY OF TERMS
Frequently used abbreviations, acronyms, or terms used in this report:
| National Fuel Gas Companies | |
|---|---|
| Company | The Registrant, the Registrant and its subsidiaries or the Registrant’s subsidiaries as appropriate in the context of the disclosure |
| Distribution Corporation | National Fuel Gas Distribution Corporation |
| Empire | Empire Pipeline, Inc. |
| Midstream Company | National Fuel Gas Midstream Company, LLC |
| National Fuel | National Fuel Gas Company |
| Registrant | National Fuel Gas Company |
| Seneca | Seneca Resources Company, LLC |
| Supply Corporation | National Fuel Gas Supply Corporation |
| Regulatory Agencies | |
|---|---|
| CFTC | Commodity Futures Trading Commission |
| EPA | United States Environmental Protection Agency |
| FASB | Financial Accounting Standards Board |
| FERC | Federal Energy Regulatory Commission |
| IRS | Internal Revenue Service |
| NYDEC | New York State Department of Environmental Conservation |
| NYPSC | State of New York Public Service Commission |
| PaPUC | Pennsylvania Public Utility Commission |
| PHMSA | Pipeline and Hazardous Materials Safety Administration |
| PUCO | Public Utilities Commission of Ohio |
| SEC | Securities and Exchange Commission |
| Other | |
|---|---|
| Bcf | Billion cubic feet (of natural gas) |
| Bcfe (or Mcfe) – represents Bcf (or Mcf) Equivalent | The total heat value (Btu) of natural gas and oil expressed as a volume of natural gas. The Company uses a conversion formula of 1 barrel of oil = 6 Mcf of natural gas. |
| Btu | British thermal unit; the amount of heat needed to raise the temperature of one pound of water one degree Fahrenheit |
| Capital expenditure | Represents additions to property, plant, and equipment, or the amount of money a company spends to buy capital assets or upgrade its existing capital assets. |
| Cashout revenues | A cash resolution of a gas imbalance whereby a customer pays Supply Corporation and/or Empire for gas the customer receives in excess of amounts delivered into Supply Corporation's or Empire's systems by the customer’s shipper. |
| CLCPA | Legislation referred to as the "Climate Leadership & Community Protection Act," enacted by the State of New York on July 18, 2019. |
| Degree day | A measure of the coldness of the weather experienced, based on the extent to which the daily average temperature falls below a reference temperature, usually 65 degrees Fahrenheit. |
| Derivative | A financial instrument or other contract, the terms of which include an underlying variable (a price, interest rate, index rate, exchange rate, or other variable) and a notional amount (number of units, barrels, cubic feet, etc.). The terms also permit for the instrument or contract to be settled net and no initial net investment is required to enter into the financial instrument or contract. Examples include futures contracts, forward contracts, options, no cost collars and swaps. |
| Development costs | Costs incurred to obtain access to proved gas and oil reserves and to provide facilities for extracting, treating, gathering and storing the gas and oil. |
| Dth | Decatherm; one Dth of natural gas has a heating value of 1,000,000 British thermal units, approximately equal to the heating value of 1 Mcf of natural gas. |
|---|---|
| Exchange Act | Securities Exchange Act of 1934, as amended |
| Expenditures for long-lived assets | Includes capital expenditures, stock acquisitions and/or investments in partnerships. |
| Exploration costs | Costs incurred in identifying areas that may warrant examination, as well as costs incurred in examining specific areas, including drilling exploratory wells. |
| Exploratory well | A well drilled in unproven or semi-proven territory for the purpose of ascertaining the presence underground of a commercial hydrocarbon deposit. |
| Firm transportation and/or storage | The transportation and/or storage service that a supplier of such service is obligated by contract to provide and for which the customer is obligated to pay whether or not the service is utilized. |
| GAAP | Accounting principles generally accepted in the United States of America |
| Goodwill | An intangible asset representing the difference between the fair value of a company and the price at which a company is purchased. |
| Hedging | A method of minimizing the impact of price, interest rate, and/or foreign currency exchange rate changes, often through the use of derivative financial instruments. |
| Hub | Location where pipelines intersect enabling the trading, transportation, storage, exchange, lending and borrowing of natural gas. |
| ICE | Intercontinental Exchange. An exchange which maintains a futures market for crude oil and natural gas. |
| Impact Fee | An annual fee imposed on unconventional wells spud in Pennsylvania. The fee is administered by the PaPUC and fees are distributed to counties and municipalities where the well is located. |
| Interruptible transportation and/or storage | The transportation and/or storage service that, in accordance with contractual arrangements, can be interrupted by the supplier of such service, and for which the customer does not pay unless utilized. |
| LDC | Local distribution company |
| LIFO | Last-in, first-out |
| Marcellus Shale | A Middle Devonian-age geological shale formation that is present nearly a mile or more below the surface in the Appalachian region of the United States, including much of Pennsylvania and southern New York. |
| Mcf | Thousand cubic feet (of natural gas) |
| MD&A | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
| MDth | Thousand decatherms (of natural gas) |
| Methane | The primary component of natural gas. It is a compound made up of one carbon atom and four hydrogen atoms (CH4). |
| MMBtu | Million British thermal units (heating value of one decatherm of natural gas) |
| MMcf | Million cubic feet (of natural gas) |
| Natural Gas | A naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane and found in underground rock formations. |
| NGA | The Natural Gas Act of 1938, as amended; the federal law regulating interstate natural gas pipeline and storage companies, among other things, codified beginning at 15 U.S.C. Section 717. |
| NOAA | National Oceanic and Atmospheric Administration |
| NYMEX | New York Mercantile Exchange. An exchange which maintains a futures market for crude oil and natural gas. |
| OPEB | Other Post-Employment Benefit |
| Open Season | A bidding procedure used by pipelines to allocate firm transportation or storage capacity among prospective shippers, in which all bids submitted during a defined time period are evaluated as if they had been submitted simultaneously. |
| Precedent Agreement | An agreement between a pipeline company and a potential customer to sign a service agreement after specified events (called “conditions precedent”) happen, usually within a specified time. |
|---|---|
| Proved developed reserves | Reserves that can be expected to be recovered through existing wells with existing equipment and operating methods. |
| Proved undeveloped (PUD) reserves | Reserves that are expected to be recovered from new wells on undrilled acreage, or from existing wells where a relatively major expenditure is required to make these reserves productive. |
| Reserves | The unproduced but recoverable oil and/or gas in place in a formation which has been proven by production. |
| Revenue decoupling mechanism | A rate mechanism which adjusts customer rates to render a utility financially indifferent to throughput decreases resulting from conservation. |
| S&P | Standard & Poor’s Ratings Service |
| SAR | Stock appreciation right |
| Section 7(b)/7(c) application | An application to the FERC under Section 7(b)/7(c) of the federal Natural Gas Act for authority to construct, operate (and provide services through) facilities to transport or store natural gas in interstate commerce. |
| Service agreement | The binding agreement by which the pipeline company agrees to provide service and the shipper agrees to pay for the service. |
| SOFR | Secured Overnight Financing Rate |
| Stock acquisitions | Investments in corporations. |
| Utica Shale | A Middle Ordovician-age geological formation lying several thousand feet below the Marcellus Shale in the Appalachian region of the United States, including much of Ohio, Pennsylvania, West Virginia and southern New York. |
| VEBA | Voluntary Employees’ Beneficiary Association |
| WNA | Weather normalization adjustment; an adjustment in utility rates which adjusts customer rates to allow a utility to recover its normal operating costs calculated at normal temperatures. If temperatures during the measured period are warmer than normal, customer rates are adjusted upward in order to recover projected operating costs. If temperatures during the measured period are colder than normal, customer rates are adjusted downward so that only the projected operating costs will be recovered. |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.