"As of July 21, 2012, EOG has earned a 50 percent working interest in approximately 34,000 gross acres contributed by Seneca to the joint venture."
Wow. So, EOG has earned a 50% interest in only 34,000 acres. They are essentially walking away from earning an interest in an additional 166,000 acres from the nearly +/- 200,000 acres under the original JV area.
That tells you how bad the economics are for dry gas under a significant (some would argue the best) portion of NFG's western acreage.