National Fuel Gas plans spin — off of integrated upstream and gathering business by H2 2027

National Fuel Gas will separate its Integrated Upstream and Gathering business into a stand-alone, publicly traded company focused on Appalachian gas production. Completion targeted for the second half of 2027 via a pro rata distribution of at least 80.1% of IUG shares. National Fuel expects to retain up to 19.9% of IUG initially, then exit that stake in a tax-efficient manner. Post-transaction, National Fuel will operate as a fully regulated gas utility, pipeline, and storage business serving Ohio, New York, and Pennsylvania. IUG is expected to include about 1.2 million net acres, 1 Bcf/d of net production, and roughly 5 Tcf of proved reserves. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. National Fuel Gas Co. published the original content used to generate this news brief via (Ref. ID: 202610140630PRIMZONEFULLFEED9845553) on October 14, 2026, and is solely responsible for the information contained therein. (C) Copyright