Cabell Has 26 Years of Industry Experience
WILLIAMSVILLE, N.Y., November 21 /CNW/ - National Fuel Gas Company (NYSE:
NFG) announces that Matthew D. Cabell has been named President of Seneca
Resources Corporation ("Seneca"), the energy company's Houston-based
Exploration and Production subsidiary.
"We are pleased to have successfully concluded our search for a new
President of Seneca and offer Matt a warm welcome to the Company. His
demonstrated success in business as well as his technical expertise in the
energy industry, coupled with his proven ability to develop and execute
long-term strategies for growth are well suited to meet the challenges and
capitalize on the opportunities ahead,"(x) said David F. Smith, President and
Chief Operating Officer of National Fuel Gas Company. "We expect Matt to be a
great fit in our management team as he takes the helm of this important
segment of our business and directs its development in the coming years."(x)
Cabell joins Seneca in December after spending more than 26 years in the
energy industry that include being at the forefront of several significant
discoveries in the Gulf of Mexico, gathering significant experience with some
of the largest energy companies in the nation and building, from the ground
up, a successful exploration and production company. In just three years,
while serving as Executive Vice President and General Manager of Marubeni Oil
and Gas (USA) in Houston, Texas, Cabell built a significant exploration and
production company. Before that, his career experience also includes serving
as Vice President, Gulf of Mexico Exploration for Texaco Corporation (Houston,
Texas), Division Geologist for Amerada Hess Corporation (Houston, Texas) and
various positions with Texaco Exploration & Production, Inc. (New Orleans,
Louisiana).
Cabell was born in Auburn Hills, Michigan and earned a Bachelor of
Science Degree in Geology from the University of Michigan and a Masters of
Business Administration from Cornell University. He resides in the Houston
area with his wife, Deborah, and their son.
National Fuel is an integrated energy company with $3.7 billion in assets
comprising five principal operating segments: Utility, Pipeline and Storage,
Exploration and Production, Energy Marketing, and Timber. Additional
information about the Company is available at http://www.nationalfuelgas.com
or through its investor information service at 1 (800) 334-2188.
(x) - Certain statements contained herein, including those which are
designated with an asterisk ("(x)") and those which use words such as
"anticipates," "estimates," "expects," "intends," "plans," "predicts,"
"projects," and similar expressions, are "forward-looking statements" as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements involve risks and uncertainties, which could cause
actual results or outcomes to differ materially from those expressed in the
forward-looking statements. The Company's expectations, beliefs and
projections contained herein are expressed in good faith and are believed to
have a reasonable basis, but there can be no assurance that such expectations,
beliefs or projections will result or be achieved or accomplished. In addition
to other factors, the following are important factors that could cause actual
results to differ materially from those discussed in the forward-looking
statements: changes in laws and regulations to which the Company is subject,
including changes in tax, environmental, safety and employment laws and
regulations; changes in economic conditions, including economic disruptions
caused by terrorist activities, acts of war or major accidents; changes in
weather conditions, including the occurrence of severe weather, such as
hurricanes; changes in the availability and/or price of natural gas or oil and
the effect of such changes on the accounting treatment or valuation of
derivative financial instruments or the Company's natural gas and oil
reserves; impairments under the Securities and Exchange Commission's full cost
ceiling test for natural gas and oil reserves; changes in the availability
and/or price of derivative financial instruments; changes in the price
differentials between various types of oil; failure of the price differential
between heavy sour crude oil and light sweet crude oil to return to its
historical norm; significant changes from expectations in actual capital
expenditures and operating expenses and unanticipated project delays or
changes in project costs or plans; the nature and projected profitability of
pending and potential projects and other investments; occurrences affecting
the Company's ability to obtain funds from operations, debt or equity to
finance needed capital expenditures and other investments, including any
downgrades in the Company's credit ratings; uncertainty of oil and gas reserve
estimates; ability to successfully identify and finance acquisitions or other
investments and ability to operate and integrate existing and any subsequently
acquired business or properties; ability to successfully identify, drill for
and produce economically viable natural gas and oil reserves; significant
changes from expectations in the Company's actual production levels for
natural gas or oil; regarding foreign operations, changes in trade and
monetary policies, inflation and exchange rates, taxes, operating conditions,
laws and regulations related to foreign operations, and political and
governmental changes; significant changes in tax rates or policies or in rates
of inflation or interest; significant changes in the Company's relationship
with its employees or contractors and the potential adverse effects if labor
disputes, grievances or shortages were to occur; or changes in accounting
principles or the application of such principles to the Company; the cost and
effects of legal and administrative claims against the Company. The Company
disclaims any obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
