Hydrofracking pays off for National Fuel

August 5, 2013 Updated Aug 5, 2013 at 11:34 AM EDT

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August 5, 2013 Updated Aug 5, 2013 at 11:34 AM EDT


National Fuel is seeing a boost from hydrofracking in Pennsylvania. A report in this week's Business First cites solid earnings and soaring production levels out of wells in PA. Production from subsidiary Seneca Resources jumped 54 percent in the first three months of this year thanks to new natural gas well in Marcellus Shale. The company will release more information at the end of this week.

Meanwhile, a federal study examined groundwater from the controversial hydrofracking. Researchers with National Energy Technology Laboratory, in Western Pennsylvania, found that the water is free of chemicals after the process. But they say its too early to make any claims. Final results are due at the end of the year.

Realtors are hoping to find new life for a former church. The historic St. Francis de Sales church along Humboldt Parkway in Buffalo is up for sale. It's listed with Hastings Cohn Real Estate. The website has the asking price at $450,000. The church is 85-years-old. Realtors tell Business First they are looking for the right developer to come along. It was designed by the same architect who designed Buffalo city hall.

You can read more in this week's Business First.

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