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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 25, 1998
CONSOLIDATED NATURAL GAS COMPANY
(Exact name of registrant as specified in its charter)
Delaware 1-3196 13-0596475
(State of incorporation) (Commission (IRS Employer
File Number) Identification No.)
CNG Tower, 625 Liberty Avenue, Pittsburgh, PA 15222-3199
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code: (412) 690-1000
Not Applicable
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
On March 25, 1998, Consolidated Natural Gas Company issued a press release
concerning its expected earnings for the first quarter of 1998. A copy of the
press release is hereby incorporated by reference and made a part of this
filing as Exhibits 1 hereto.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CONSOLIDATED NATURAL GAS COMPANY
________________________________
(Registrant)
By D. M. WESTFALL
______________________________
(D. M. Westfall)
Senior Vice President
March 25, 1998 and Chief Financial Officer
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Exhibit 1
for further information:
John Conti
412-690-1133
Consolidated Natural Gas Comments
On First Quarter Earnings Outlook
PITTSBURGH, March 25, 1998 -- Consolidated Natural Gas Company said
today that its earnings in the quarter ending March 31 won't meet estimates by
securities analysts that currently average $1.56 a share.
The company said that warm winter weather, higher than expected losses
in the company's non-utility energy marketing services business due to adverse
price movements in gas and electricity, and lower gas and oil wellhead prices
have all combined to hold earnings down in the current quarter. In the first
quarter of 1997, CNG earned $171.5 million, or $1.74 a share, on a diluted
basis. Final results for the 1998 first period will be available on April 30.
Consolidated Natural Gas Company is one of the nation's largest
producers, transporters and distributors of natural gas, and offers energy
marketing services throughout North America. The company's natural gas
transmission and distribution operations serve customers in Ohio,
Pennsylvania, Virginia, West Virginia, New York and other states in the
Northeast and Mid-Atlantic regions. CNG explores for and produces natural gas
and oil in the United States and Canada. The company also selectively
participates in energy businesses abroad.
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This press release contains forward-looking statements. The company wishes to
caution readers that the assumptions which form the basis for forward-looking
statements with respect to or that may impact earnings for fiscal 1998, and
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thereafter, include many factors that are beyond the company's ability to
control or estimate precisely, such as estimates of future market conditions
and the behavior of other market participants. Other factors include, but are
not limited to, weather conditions, economic conditions in the company's
service territory, fluctuations in energy-related commodity prices, conversion
activity, other marketing efforts and other uncertainties.
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CNG's recent news releases are available 24 hours a day on the Internet, by
fax machine, or by voice recording. On the Internet, use CNG's web site:
http://www.cng.com For faxing, call 1-800-758-5804 on a touch-tone phone and
enter CNG's extension number, which is 203456. From a menu, you will then be
able to select releases that will be faxed to you immediately without charge.
For voice recordings, call 1-888-CNG-NEWS. This line is toll-free.
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