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National Fuel Gas NFG Utica Shale — Extensions and Discoveries

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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$7.5B-4.6%
Enterprise value$9.83B-4.2%
P/E11.1×
P/S-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 srt:ProvedDevelopedAndUndevelopedReservesExtensionsDiscoveriesAndAdditions.

The source filing: National Fuel Gas’s 10-K, filed November 21, 2025.

Filed
Nov 21, 2025
Fiscal year
FY2026
Accession
0000070145-25-000039

(1) Extensions and discoveries include 163 Bcf (during 2023), 230 Bcf (during 2024) and 0 Bcf (during 2025), of Marcellus Shale gas (which exceed 15% of total reserves) in the Appalachian region. Extensions and discoveries include 507 Bcf (during 2023), 372 Bcf (during 2024) and 633 Bcf (during 2025), of Utica Shale gas (which exceed 15% of total reserves) in the Appalachian region.

Item 8 Financial Statements and Supplementary Data

FAQ

What is National Fuel Gas's utica shale — extensions and discoveries?
National Fuel Gas (NFG) reported utica shale — extensions and discoveries of $158.25K in Q3 2025.
How has National Fuel Gas's utica shale — extensions and discoveries changed year-over-year?
National Fuel Gas's utica shale — extensions and discoveries increased by 70.2% year-over-year, from $93K to $158.25K.
What is the long-term trend for National Fuel Gas's utica shale — extensions and discoveries?
Over 4 years (2021 to 2025), National Fuel Gas's utica shale — extensions and discoveries has grown at a 6.2% compound annual growth rate (CAGR), from $497K to $633K.
What does utica shale — extensions and discoveries mean?
Represents the volume of proved oil and gas reserves added through the extension of existing reservoirs or the discovery of new fields within the Utica Shale region. This metric serves as a key indicator of exploration success and the company's ability to organically grow its asset base. It highlights the geological potential and long-term resource replenishment capability of the specific geographic segment.

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