Market Overview

Seneca Resources Announces Plan to Convert Marcellus Drilling Rigs to Natural Gas

Related UNG
3 Sectors That Should Fear China
Natural Gas Supplies Rise; Gas Stocks See Slight Drop
Related NFG
Earnings Scheduled For August 8, 2014
Markets Rise; Bank Of America Q2 Profit Slips 43%

Seneca Resources Corporation ("Seneca"), the wholly-owned exploration and production subsidiary of National Fuel Gas Company (NYSE: NFG) ("National Fuel" or the "Company") today announced plans to complete the conversion of two of its Pennsylvania drilling rigs to cleaner-burning natural gas, displacing the diesel fuel currently used to power equipment at the well site. These will be the first dedicated 100 percent liquefied natural gas (LNG)-fueled drilling rigs operating in the Marcellus Shale within Pennsylvania.

The first rig was converted earlier this month in Lycoming County. The conversion of a second rig should be completed in early November. Seneca will also deploy a third rig that will run on both diesel and natural gas during this fiscal year.

Posted-In: News Commodities Markets

 

Most Popular

Related Articles (UNG + NFG)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters