Item 2.02
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Results of Operations and Financial Condition.
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On January 25, 2017, National Fuel Gas Company (the
Company) issued a press release regarding the Northern Access 2016 pipeline expansion project and certain production results for the quarter ended December 31, 2016. A copy of the press release is furnished as part of this Current
Report as Exhibit 99.
Neither the furnishing of the press release as an exhibit to this Current Report nor the inclusion in such press release of any
reference to the Companys internet address shall, under any circumstances, be deemed to incorporate the information available at such internet address into this Current Report. The information available at the Companys internet address
is not part of this Current Report or any other report filed or furnished by the Company with the Securities and Exchange Commission.
Certain statements
contained herein or in the press release furnished as part of this Current Report, including statements identified by the use of the words anticipates, estimates, expects, forecasts,
intends, plans, predicts, projects, believes, seeks, will and may and similar expressions, are forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. There can be no assurance that the Companys projections will in fact be achieved nor do these projections reflect any acquisitions or divestitures that may occur in the future. While the
Companys expectations, beliefs and projections are expressed in good faith and are believed to have a reasonable basis, actual results may differ materially from those projected in forward-looking statements. Furthermore, each forward-looking
statement speaks only as of the date on which it is made. In addition to other factors, the following are important factors that could cause actual results to differ materially from those discussed in the forward-looking statements: delays or
changes in costs or plans with respect to Company projects or related projects of other companies, including difficulties or delays in obtaining necessary governmental approvals, permits or orders or in obtaining the cooperation of interconnecting
facility operators; governmental/regulatory actions, initiatives and proceedings, including those involving rate cases (which address, among other things, target rates of return, rate design and retained natural gas), environmental/safety
requirements, affiliate relationships, industry structure, and franchise renewal; changes in laws, regulations or judicial interpretations to which the Company is subject, including those involving derivatives, taxes, safety, employment, climate
change, other environmental matters, real property, and exploration and production activities such as hydraulic fracturing; impairments under the SECs full cost ceiling test for natural gas and oil reserves; changes in the price of natural gas
or oil; financial and economic conditions, including the availability of credit, and occurrences affecting the Companys ability to obtain financing on acceptable terms for working capital, capital expenditures and other investments, including
any downgrades in the Companys credit ratings and changes in interest rates and other capital market conditions; factors affecting the Companys ability to successfully identify, drill for and produce economically viable natural gas and
oil reserves, including among others geology, lease availability, title disputes, weather conditions, shortages, delays or unavailability of equipment and services required in drilling operations, insufficient gathering, processing and
transportation capacity, the need to obtain governmental
approvals and permits, and compliance with environmental laws and regulations; increasing health care costs and the resulting effect on health insurance premiums and on the obligation to provide
other post-retirement benefits; changes in price differentials between similar quantities of natural gas or oil sold at different geographic locations, and the effect of such changes on commodity production, revenues and demand for pipeline
transportation capacity to or from such locations; other changes in price differentials between similar quantities of natural gas or oil having different quality, heating value, hydrocarbon mix or delivery date; the cost and effects of legal and
administrative claims against the Company or activist shareholder campaigns to effect changes at the Company; uncertainty of oil and gas reserve estimates; significant differences between the Companys projected and actual production levels for
natural gas or oil; changes in demographic patterns and weather conditions; changes in the availability, price or accounting treatment of derivative financial instruments; changes in economic conditions, including global, national or regional
recessions, and their effect on the demand for, and customers ability to pay for, the Companys products and services; the creditworthiness or performance of the Companys key suppliers, customers and counterparties; economic
disruptions or uninsured losses resulting from major accidents, fires, severe weather, natural disasters, terrorist activities, acts of war, cyber attacks or pest infestation; significant differences between the Companys projected and actual
capital expenditures and operating expenses; changes in laws, actuarial assumptions, the interest rate environment and the return on plan/trust assets related to the Companys pension and other post-retirement benefits, which can affect future
funding obligations and costs and plan liabilities; or increasing costs of insurance, changes in coverage and the ability to obtain insurance. The Company disclaims any obligation to update any forward-looking statements to reflect events or
circumstances after the date hereof.