“When I joined National Fuel in the late 1970s, our industry and customers were facing record high energy prices, curtailments of natural gas supplies, and national reliance on imported natural gas and oil,” said Tanski. “Today, we have a domestic abundance of oil and natural gas due to advanced shale recovery technologies. For the first time in nearly 60 years, the U.S. is a net exporter of natural gas and our utility customers are paying the lowest rates in decades because they are next door to the largest natural gas producing region in North America. While much has changed, one thing has remained constant: the dedication of National Fuel and its current 2,100 employees to finding, transporting and delivering much-needed, clean-burning natural gas supplies safely and reliably to utility customers and others throughout our regional pipeline network. I will be leaving the Company in capable hands that are well prepared and committed to building value for our communities and our shareholders.”
“National Fuel is in an excellent position for the future,” said Chairman of the Board David F. Smith. “During his tenure as President and CEO, Ron has continued our legacy of tremendous leadership, long-term focus, deliberate decision making, and financial discipline, resulting in ongoing growth and value for the Company and benefits for shareholders. The board and I extend our deep appreciation to Ron for his long and steadfast guidance of and dedication to the Company, and we wish him, his wife Mary Ann, and his family all the best in his retirement. We are fortunate to have a talent of Dave Bauer’s caliber as Ron’s successor, and the board and I look forward to continued success with Dave at the helm of our experienced executive team.”
National Fuel is an integrated energy company reporting financial results for five operating segments: Exploration and Production, Pipeline and Storage, Gathering, Utility, and Energy Marketing. Additional information about National Fuel is available atwww.nationalfuel.com.
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Analyst Contact: | | Kenneth E. Webster | | 716-857-7067 |
Media Contact: | | Karen L. Merkel | | 716-857-7654 |
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