National Fuel Gas

(NFG)

Natural gas-primary · Appalachia · 7 hedge positions disclosed

As of 10-K FY2025 · Feb 25, 2026.

National Fuel Gas may have added, unwound, or restructured hedges since this filing · the changes won't appear here until their next quarterly disclosure. Treat all numbers below as a point-in-time snapshot.

Market Cap
$6.0B
Production /d
1,187
MBoe or MMcfe per filing
% Natural Gas
100%
FCF Breakeven
$/Mcfe
Hedges basis

Natural Gas positions

TypePeriodVolumePrice level
SwapJan 2026 - Dec 2026300,000 /d$3.55
CollarJan 2026 - Dec 2026200,000 /d$3.00 × $4.50
SwapJan 2027 - Dec 2027250,000 /d$3.65
CollarJan 2027 - Dec 2027150,000 /d$3.25 × $5.00
SwapJan 2028 - Dec 2028150,000 /d$3.50
CollarJan 2028 - Dec 2028100,000 /d$3.00 × $4.75
SwapJan 2029 - Dec 202980,000 /d$3.45

Sourced from National Fuel Gas's 10-K FY2025 dated Feb 25, 2026. Hedge positions disclosed in 10-K / 10-Q filings reflect the company's book as of the filing date. Material activity may have occurred since. BoxWood does not estimate post-filing changes or current mark-to-market.

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