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National Fuel Gas NFG Marcellus Shale Fields — Proved undeveloped reserve volume (in Bcfe)

Other geography segments

Utica Shale
$1.12T+21.0%

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APAProved undeveloped reserves
$321.86K+7.6%
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$734.35K+9.6%
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APAUnited States — Proved undeveloped reserves
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APAUnited States — Proved developed reserves
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APAEgypt — Proved undeveloped reserves
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APANorth Sea — Proved undeveloped reserves
$0

Other financials

Income statement

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Revenue$858.4M+17.6%
Gross profit$650.5M+9.4%
Operating income$347.1M+9.4%
Net income$247.7M+14.5%
EPS (diluted)$2.59+9.3%

Balance sheet

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Cash & equivalents$26.6M-70.9%
Total debt$2.1B-17.9%
Total equity$3.8B+38.3%
Total assets$9.1B+7.6%

Cash flow

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Operating cash flow$382.4M+50.7%
CapEx$220.6M+13.8%
Free cash flow$161.7M+170%

Valuation

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Market cap$7.21B+24.5%
Enterprise value$9.31B+14.1%
P/E10.5×
P/S2.9×+0.1×

Profitability

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Gross margin87.8%-3.1pp
Operating margin41.2%
Net margin27.4%
FCF margin7.2%

Returns & leverage

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Return on equity20.8%
Debt / equity0.6×-0.4×
Current ratio0.6×+0.1×

Where this comes from

Reported directly by National Fuel Gas in its filing.

Tagged under the XBRL concept srt:ProvedUndevelopedReserveVolume.

The official record: National Fuel Gas’s 10-K, filed November 21, 2025, on SEC EDGAR. View the filing →

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Questions, answered.

What is National Fuel Gas's marcellus shale fields — proved undeveloped reserve volume (in bcfe)?
National Fuel Gas (NFG) reported marcellus shale fields — proved undeveloped reserve volume (in bcfe) of $197B in Q3 2025.
How has National Fuel Gas's marcellus shale fields — proved undeveloped reserve volume (in bcfe) changed year-over-year?
National Fuel Gas's marcellus shale fields — proved undeveloped reserve volume (in bcfe) decreased by 42.4% year-over-year, from $342B to $197B.
What does marcellus shale fields — proved undeveloped reserve volume (in bcfe) mean?
This metric represents the total volume of proved reserves that are expected to be recovered from undrilled acreage or where significant expenditure is required to establish production. It provides insight into the company's future production potential and the scale of its inventory of drillable locations. Investors use this to evaluate the long-term growth pipeline of the segment.