Writedowns cause loss at National Fuel Gas

The plunge in oil and natural gas prices forced National Fuel Gas Co. to absorb a $42.7 million loss during the first quarter, but the Amherst-based energy company

…With energy prices down and credit very tight, National Fuel is trying to conserve its cash by halting stock repurchases, at least temporarily, and by trimming its capital spending plans for its oil and gas drilling business, mainly at its California oil fields and in the Gulf of Mexico.