Seneca Resources Company, LLC, the exploration and production segment of National Fuel Gas Company, headquartered in Houston, Texas, explores for, develops and produces natural gas and oil reserves in California and the Appalachian Region including the Marcellus and Utica Shales. We have been providing energy and jobs for more than 100 years and remain committed to our corporate guiding principles of safety, environmental stewardship, community, innovation, satisfaction and transparency.
Seneca Resources operates unconventional shale wells in Appalachia, primarily in the Marcellus and Utica geologic formations that stretch from the Southern Tier of New York state through Pennsylvania, Ohio and West Virginia. We control more than one million net prospective acres in the Shale Fairway in Pennsylvania. Approximately 65 percent of our holdings are fee acreage, with the mineral rights owned outright by Seneca Resources and no royalty obligation or lease expiration. This industry-leading mineral ownership position greatly improves our production economics compared to other companies active in the basin. The Marcellus and Utica Shales are a significant focus and represent a substantial opportunity given our extensive acreage position.
Seneca Resources has been an active well operator in California since 1987. Our California operations remain a steady contributor to our overall portfolio. Our California fields are predominately oil-producing reserves displaying long life properties, with low decline rates and low operating costs. We’re proud to have consistently maximized returns from our California assets by optimizing lifting costs and drilling new wells. As such, these assets provide a solid base and strong cash flow for Seneca Resources.
With more than 100 years of providing reliable energy and local jobs, we have a rich exploration and production history.
A firm principle of Seneca Resources has always been giving back in the communities where our employees live and work.