FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * DeCarolis Donna L   2. Issuer Name and Ticker or Trading Symbol NATIONAL FUEL GAS CO [NFG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President, Horizon Power (Last) (First) (Middle) 6363 MAIN ST. 3. Date of Earliest Transaction (Month/Day/Year) 11/11/2011 (Street) WILLIAMSVILLE, NY 14221 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 11/10/2011   G V 26 D $ 58.71 23,765 D   Common Stock 11/11/2011   M   40,000 A $ 24.495 63,765 D   Common Stock 11/11/2011   F   16,511 (1) D $ 59.34 47,254 D   Common Stock 11/11/2011   F   8,220 (1) D $ 59.34 39,034 D   Common Stock 11/14/2011   J V 3 (2) A $ 0 196 I ESOP Trust Common Stock 11/14/2011   J V 451 (3) A $ 0 13,579 I 401(k) Trust

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Option (Right to Buy)

$ 24.495

11/11/2011

M

4,082

03/14/2003

03/14/2012

Common Stock

4,082

$ 0

0

D

Employee Stock Option (Right to Buy)

$ 24.495

11/11/2011

M

9,251

03/14/2003

03/15/2012

Common Stock

9,251

$ 0

0

D

Employee Stock Option (Right to Buy)

$ 24.495

11/11/2011

M

13,333

03/14/2004

03/15/2012

Common Stock

13,333

$ 0

0

D

Employee Stock Option (Right to Buy)

$ 24.495

11/11/2011

M

13,334

03/14/2005

03/15/2012

Common Stock

13,334

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
DeCarolis Donna L 6363 MAIN ST. WILLIAMSVILLE, NY 14221			President, Horizon Power

Signatures

James R. Peterson, Attorney in Fact		11/15/2011
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	On November 11, 2011, the reporting person in the aggregate exercised 40,000 stock options, delivered 16,511 shares of Common Stock of the Company for cancellation in payment of the exercise price of such options, and had 8,220 shares of Common Stock of the Company withheld and cancelled to cover minimum required tax withholding. These shares cancellations are shown on Table I as dispositions (Trans Code "D" in column 4), although none of these cancelled shares were sold into the marked, as indicated by Trans Code "F" in column 3.
(2)	Routine acquisition under the NFG ESOP Plan Trust, exempt under Rule 16b-3(c), a non-reportable transaction.
(3)	Routine acquisition under the NFG 401k Plan Trust, exempt under Rule 16b-3(c), a non-reportable transaction

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