SECURITIES AND EXHANGE COMMISSION
Washington, D.C. 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): October 17, 2000
NATIONAL FUEL GAS COMPANY
(Exact name of registrant as specified in its charter)
New Jersey 1-3880 13-1086010
(State or other jurisdiction (Commission File (IRS Employer or
incorporation) Number) Identification No.)
10 Lafayette Square, Buffalo, New York 14203
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (716) 857-6980
ITEM 5. OTHER EVENTS
National Fuel Gas Company (the "Company" or "National Fuel") announced
that it has completed a full review of all of its derivative positions and, as a
result, has determined that it will report a $3.5 million after-tax gain from
derivative activities of its retail marketing subsidiary, National Fuel
Resources, Inc. ("NFR"), for the Fourth Quarter of Fiscal 2000 ending September
30, 2000. The Company also announced that at September 30, 2000 it accrued a
loss contingency of $1.6 million after-tax on the unhedged portion of fixed
priced sales contracts entered into by NFR for sales of natural gas to customers
in fiscal year 2001.
The Company also stated that its previously reported Third Quarter
income would decrease by $5.4 million after-tax due to the reclassification of
certain of NFR's derivative instruments from hedges to mark-to-market
instruments. Accordingly, the Company is restating its Third Quarter net income
to $9,070,000 compared with the $14,468,000 previously reported. National Fuel
intends to file an amendment to its quarterly report on Form 10-Q for the
three-month period ended June 30, 2000 to reflect this reclassification.
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SIGNATURES
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.
NATIONAL FUEL GAS COMPANY
By: /s/James R. Peterson
-----------------------------
James R. Peterson
Assistant Secretary
