UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM U-9C-3
QUARTERLY REPORT PURSUANT TO RULE 58
For the Quarterly Period Ending September 30, 1997
Registered Holding Company:
National Fuel Gas Company
(A New Jersey Corporation)
10 Lafayette Square
Buffalo, New York 14203
<PAGE>
<TABLE>
ITEM 1 - ORGANIZATION CHART
<CAPTION>
Name of Reporting Co. Energy or Gas Date of State of Percentage of Nature of Business
Related Organization Organization Voting Securities
Held
<S> <C> <C> <C> <C> <C>
National Fuel Gas Company Gas 1902 New Jersey Holds all voting The Company is an integrated
securities of the natural gas operation engaged in
reporting companies owning and holding securities
except as indicated issued by its subsidiaries.
below.
Seneca Independence Gas 1997 Delaware 100% Construct and operate
Pipeline Company (New) interstate natural gas
transportation facilities.
Niagara Independence Gas 1997 Delaware 100% Gas marketing.
Marketing Company (New)
DirectLink Gas Marketing Gas 1997 Delaware 25% Gas marketing.
Company (New)
Niagara Energy Gas 1996 Delaware 100% Gas marketing.
Trading Inc. (New)
</TABLE>
NARRATIVE DESCRIPTION:
National Fuel Gas Company is not a "reporting company" but is included
in this Item 1 because it holds directly or indirectly voting
securities issued by the reporting companies. During the quarter ended
September 30, 1997, the reporting companies engaged in the following
activities:
Seneca Independence Pipeline Company ("SIP") executed an agreement to
acquire a 25% general partnership interest in Independence Pipeline
Company ("Independence"), upon receipt of approval by the SEC under
the PUHCA (see Form U-1 filed 10/6/97, File 70-9117). Under certain
conditions, SIP has an option to become a 33.33% owner of
Independence.
Niagara Independence Marketing Company became a 25% general partner in
DirectLink Gas Marketing Company ("DirectLink") on September 23, 1997.
DirectLink executed precedent agreements under which, upon
satisfaction of various conditions, DirectLink would purchase firm
natural gas transportation services from (i) Independence for about
500,000 Dth/day, and (ii) ANR Pipeline Company for about 507,000
Dth/day. These tyransactions are also described in the Form U-1 at
File No. 70-9117.
Niagara Energy Trading Inc. ("NET") had been formed without issuing
any voting stock in 1996. In July 1997, NET made its initial issuance
of common stock to National Fuel Gas Company. NET executed a
short-term maximum-rate firm natural gas storage agreement for 200,000
Dth with National Fuel Gas Supply Corporation (an associate company)
which allows NET to inject gas into storage during November and
December 1997, and to withdraw gas from storage beginning December
1997 through February 1998.
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<TABLE>
ITEM 2 - ISSUANCE OF SECURITIES AND CAPITAL CONTRIBUTIONS
<CAPTION>
Company Type of Principal Amount Issue or Cost of Person to Collateral Consideration
Issuing Security of Security Renewal Capital Whom Security Given With Received for
Stock Issued Was Issued Was Issued Security Each Security
<S> <C> <C> <C> <C> <C> <C> <C>
Seneca Stock 1000 Shares Issue N/A National N/A $1,000
Independence Fuel Gas
Pipeline Company
Company
DirectLink Gas General 25% Interest Issue N/A Niagara N/A $0
Marketing Partnership Independence
Company Interest Marketing
Company
Niagara Stock 1000 Shares Issue N/A National N/A $1,000
Independence Fuel Gas
Marketing Company
Company
Niagara Stock 1000 Shares Issue N/A National N/A $1,000
Energy Fuel Gas
Trading Company
Inc.
</TABLE>
<PAGE>
ITEM 3 -ASSOCIATE TRANSACTIONS
<TABLE>
PART 1 - TRANSACTIONS PERFORMED BY REPORTING COMPANY ON BEHALF OF ASSOCIATE COMPANIES
<CAPTION>
Reporting Co. Associate Co. Types of Direct Indirect Cost of Total Amount Billed
Rendering Receiving Services Costs Costs Capital
Services Services Rendered Charged Charged
<S> <C> <C> <C> <C> <C> <C>
NONE
</TABLE>
<TABLE>
PART 2 - TRANSACTIONS PERFORMED BY ASSOCIATE COMPANIES ON BEHALF OF REPORTING COMPANY
<CAPTION>
Reporting Co. Associate Co. Types of Direct Indirect Cost of Total Amount Billed
Rendering Receiving Services Costs Costs Capital
Services Services Rendered Charged Charged
<S> <C> <C> <C> <C> <C> <C>
NONE
</TABLE>
<PAGE>
ITEM 4 - SUMMARY OF AGGREGATE INVESTMENT
Investment in Energy Related/Gas Related Companies: (in thousands)
NOTE: All the Reporting Companies are gas-related
companies; none are energy-related companies.
Investments in Gas-Related Companies:
Total Current Aggregate Investment:
Pipeline activities $1,000
Marketing activities 2,000
------
Total Current Aggregate Investment: $3,000
<PAGE>
<TABLE>
ITEM 5 - OTHER INVESTMENTS
<CAPTION>
Major Line of Energy- Other Investment in last Other Investment in This Reason For Difference
Related Business U-9C-3 Report U-9C-3 Report in Other Investment
<S> <C> <C> <C>
NONE
</TABLE>
<PAGE>
ITEM 6- FINANCIAL STATEMENTS AND EXHIBITS
A. FINANCIAL STATEMENTS:
1. Balance Sheet for Seneca Independence Pipeline Company - Attached
2. Balance Sheet for Niagara Independence Marketing Company - Attached
3. Balance Sheet for Niagara Energy Trading Inc. - Attached
NOTE: DirectLink Gas Marketing Company had no assets or liabilities at
September 30, 1997.
B. EXHIBITS: NONE
<PAGE>
Seneca Independence Pipeline Company (New Company)
Balance Sheet
At September 30, 1997
(Unaudited)
ASSETS
Current Assets
Cash & Temporary Cash Investments $1,000
======
CAPITALIZATION
Common Stock $1,000
======
<PAGE>
Niagara Independence Marketing Company (New Company)
Balance Sheet
At September 30, 1997
(Unaudited)
ASSETS
Current Assets
Cash & Temporary Cash Investments $1,000
======
CAPITALIZATION
Common Stock $1,000
======
<PAGE>
Niagara Energy Trading Inc. (New Company)
Balance Sheet
At September 30, 1997
(Unaudited)
ASSETS
Current Assets
Cash & Temporary Cash Investments $1,000
======
CAPITALIZATION
Common Stock $1,000
======
<PAGE>
SIGNATURES
Pursuant to the requirements of the Public Utility Holding Company Act
of 1935, National Fuel Gas Company has duly caused this report to be signed and
authorized on its behalf by the undersigned. Please direct inquiries concerning
this report to the undersigned at (716) 857-7702
Dated: November 26, 1997
By /s/ James R. Peterson
-------------------------------------
James R. Peterson
Assistant Secretary
