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National Fuel Gas NFG Integrated Upstream and Gathering — Lease Operating Expense

Other segment segments

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Other financials

Income statement

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Revenue$537.5M+1.1%
Gross profit$507.6M+0.7%
Operating income$208.9M-9.3%
Net income$138.6M-7.5%
EPS (diluted)$1.45-11.6%

Balance sheet

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Cash & equivalents$1.2B+3,042%
Total debt$3.6B+46.0%
Total equity$3.9B+31.9%
Total assets$10.5B+23.7%

Cash flow

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Operating cash flow$377.3M-2.9%
CapEx$266.2M+37.9%
Free cash flow$111.0M-43.2%

Valuation

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Market cap$7.66B-2.5%
Enterprise value$10B-2.6%
P/E11.4×
P/S3.1×-0.6×

Profitability

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Gross margin87.7%-2.6pp
Operating margin40.3%
Net margin26.9%
FCF margin7.1%

Returns & leverage

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Return on equity19.6%
Debt / equity0.9×+0.1×
Current ratio3.2×+2.7×

Where this comes from

Reported directly by National Fuel Gas in its filing.

Tagged under the XBRL concept us-gaap:ProductionCosts.

The source filing: National Fuel Gas’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 11:54 AM EDT
Fiscal quarter
Q4 FY2026
Calendar quarter
Q3 2026
Accession
0000070145-26-000033
Line itemQuarter Ended June 30, 2026 / Integrated Upstreamand GatheringQuarter Ended June 30, 2026 / Pipelineand StorageQuarter Ended June 30, 2026 / UtilityQuarter Ended June 30, 2026 / Total Reportable SegmentsQuarter Ended June 30, 2026 / All Other(4)Quarter Ended June 30, 2026 / Corporateand Intersegment Eliminations(4)Total Consolidated
Total Revenues302,516106,541165,500574,557(37,060)537,497
Operation and Maintenance Expense(2):
Upstream General and Administrative Expense17,48717,487(63)17,424
Lease Operating Expense15,84715,847(532)15,315
Gathering Operation and Maintenance Expense13,59513,595(69)13,526
All Other Operation and Maintenance Expense3,36631,47961,65296,49712,377108,874
Purchased Gas Expense(2)66,23966,239(36,361)29,878
Depreciation, Depletion and Amortization Expense(2)83,07819,65618,090120,824234121,058

Item 1. Financial Statements (Unaudited)

FAQ

What is National Fuel Gas's integrated upstream and gathering — lease operating expense?
National Fuel Gas (NFG) reported integrated upstream and gathering — lease operating expense of $15.85M in Q2 2026.
How has National Fuel Gas's integrated upstream and gathering — lease operating expense changed year-over-year?
National Fuel Gas's integrated upstream and gathering — lease operating expense increased by 26.1% year-over-year, from $12.57M to $15.85M.
What is the long-term trend for National Fuel Gas's integrated upstream and gathering — lease operating expense?
Over 2 years (2023 to 2025), National Fuel Gas's integrated upstream and gathering — lease operating expense has grown at a 2.9% compound annual growth rate (CAGR), from $47.85M to $50.67M.
What does integrated upstream and gathering — lease operating expense mean?
Covers the direct costs incurred to operate and maintain producing wells and related lease equipment. These expenses are fundamental to the ongoing production of natural gas and are a primary component of the segment's cash operating costs. Investors monitor this to gauge the unit-level profitability of the company's production assets.

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