National Fuel Gas Company is an integrated energy company that explores, produces, gathers, transports, and distributes natural gas, primarily in the Appalachian Basin. The company operates through three complementary segments: an upstream and gathering business that develops natural gas reserves and operates pipeline and processing facilities; a pipeline and storage segment that provides interstate natural gas transportation and underground storage services to both affiliated and third-party customers; and a utility segment that distributes natural gas to approximately 750,000 customers in western New York and northwestern Pennsylvania. The company generates revenue from natural gas sales to industrial and commercial customers, from pipeline transportation and storage fees, and from utility distribution services to residential and business customers, with operations designed to achieve cost efficiency and capital resilience by sharing infrastructure and services across its integrated business model.