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Southwestern Energy Company

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News Article | May 9, 2017
Site: www.theenergycollective.com

A global group of 30 leading institutional investors coordinated by the PRI (Principles for Responsible Investment) has announced a new initiative that will encourage oil and gas companies, including gas utilities, around the world to initiate or improve efforts to measure, report, and reduce methane emissions. The move is the latest evidence that investors are concerned with the financial, reputational and environmental risks associated with unmonitored and unchecked methane venting and leakage. Methane is a potent greenhouse gas with over 80 times the warming power of carbon dioxide over a 20-year timeframe. It’s responsible for about 25% of the warming our planet is experiencing today. Globally, the oil and gas industry is among the largest man-made sources of methane. Methane is also the main ingredient in the natural gas, the product that major global producers have marketed to investors as central to their growth in the years ahead. Companies tout gas as a clean, low-carbon fuel, ignoring the vast amounts of unburned methane escaping from their systems each year, or the lack of transparency with regard to monitoring and reduction strategies. The owners and asset managers involved in the PRI’s methane initiative oversee more than $3 trillion. They are global in scope, representing a dozen countries across North America, Europe and Asia-Pacific. PRI plans to engage 29 companies on four continents, from across the natural gas supply chain (the names aren’t being made public). They will be urging greater transparency and stronger, more concrete actions, including setting methane targets and participating responsibly on methane policy. A centerpiece of PRI’s ongoing efforts to improve companies’ methane management and disclosure will be the Investor’s Guide to Methane, published jointly with EDF last fall. PRI’s global methane initiative complements ongoing U.S. engagement efforts on methane led by the Interfaith Center on Corporate Responsibility and CERES. This is an uncertain time for the methane issue globally. On the one hand, President Trump and many U.S. lawmakers are trying to roll back methane policies established during the Obama administration. On the other, officials in Canada are expected to release draft oil and gas methane regulations this year, and similar rules are being developed in Mexico. Political backpedaling from methane controls is shortsighted and counterproductive for both industry and environment, ignoring one of the biggest and most cost-effective opportunities we have to slow the warming of our globe. But these major investors, whose long-term investment horizons require them to look beyond the short-term calculus that dominates both politics and executive compensation packages, are taking a view to match their financial stake in the industry’s future. What they see is a growing liability for an industry looking to the production and delivery of natural gas a growth engine over the coming decades. The problem isn’t going to go away, no matter what they’re saying in Washington. Producers like BP, Shell and Chevron routinely cite rising global demand for natural gas as a primary driver of growth and valuation. But in markets for new electric generating capacity, natural gas is increasingly competing on a cost basis with clean, renewable sources like wind and solar. Failure to deliver on its frequent promises to deliver a more climate-friendly energy choice puts the gas industry and its investors at risk. That makes methane the key variable. Conservative estimates are that, worldwide, companies are releasing at least 3.5 trillion cubic feet of methane to the atmosphere each year. That’s about the same amount as all the gas sold by Norway – the world’s seventh largest producer. Besides being a huge climate problem, it’s also a huge waste of a valuable product, and perhaps an indicator that attention to the integrity of operations is not as great as what companies claim. Concern about methane isn’t limited to oil and gas investors. There’s growing awareness within the industry itself that methane poses a reputational risk, sparking some companies to start addressing the challenge. For example, 10 of the world’s largest oil and gas companies – BG Group, BP, Eni, Pemex, Reliance Industries, Repsol, Saudi Aramco, Shell, Statoil and Total – recently launched the Oil and Gas Climate Initiative (OGCI), a billion-dollar investment to accelerate commercial deployment of low carbon energy technologies. Their primary focus will be carbon capture and storage and reducing oil and gas methane emissions. Similarly, the Oil and Gas Methane Partnership (OGMP), a voluntary effort to improve emissions reporting and accelerate best methane reduction practices recently issued its first annual report, detailing emissions found in nine key source categories throughout individual operator’s systems. Launched in 2014, participating companies include BP, Eni, Pemex, PTT, Repsol, Southwestern Energy, Statoil, and Total. These are crucial first steps for the industry, and is a sign that companies looking for ways to adapt to the changing climate surrounding its business. But the industry still has a very long way to go. Fixing the problem could yield huge benefits: A 45% reduction in global oil and gas methane emissions would have roughly the same climate impact over 20 years as closing one-third of the world’s coal fired power plants. Investor calls for action on methane are quickening and now industry needs to show shareholders it will take the necessary steps to deliver on the low-carbon fuel promise of natural gas. Investors want to invest in well-run companies with good governance, and increasingly look to methane as a proxy for efficient operations. As company executives think about how to attract capital, they will be well-served to note this emerging dynamic and proactively get ahead of the issue.


News Article | April 17, 2017
Site: www.scientificamerican.com

Last week Pres. Donald Trump issued an executive order to pull the nation back from climate change action. One target was methane emission regulations set by the U.S. Environmental Protection Agency and Bureau of Land Management under the Obama administration. The rules require the oil and gas industry to control methane emissions, a powerful greenhouse gas, at its operations. Trump’s order directs agencies to reconsider those rules, and possibly rewrite or get rid of them altogether. Despite Trump’s declaration, cities, states and companies still want to stop methane leaks across industry, because the gas worsens global warming and leaks lower revenues. That’s why researchers are developing a technology they think may help: a tiny chip to continuously monitor methane emissions. Although the U.S. releases much less methane than CO2, the former has 25 times more warming potential per pound across a 100-year period. Oil and gas producers emit more of this gas than any other industrial activity in the U.S., and a significant portion of it comes from leaks in equipment at locations like well pads, where drilling and extraction happens. Today the industry uses an expensive, inefficient method to monitor for leaks: infrared cameras, which cost $85,000 to $125,000 and require a human operator. That means companies must send a person to manually scan equipment for escaping gas. “These cameras are expensive, and it takes one to two hours to do a well pad, four to six hours for a compressor station, and it could be a full day for a processing plant,” explains Doug Jordan, corporate environmental program director at Southwestern Energy. “It’s very resource-intensive.” Companies typically do these checks only once a quarter to once a year. If, say, a piece of equipment starts leaking right after a survey, it might go undetected for months. Furthermore, a camera might only be sensitive enough to catch larger leaks, potentially missing smaller ones. IBM scientists and engineers, working with researchers at Harvard and Princeton universities, have devised a miniature sensor chip—about five by five millimeters in size—that continuously watches for methane. The sensor, housed on a small silicon wafer, contains a laser and a silicon optical cable that channels the laser light through it.* Some of that light shines outside the cable into the air; when methane molecules waft above the sensor, they absorb a specific wavelength of the light, creating a unique signature. “Our method is designed to detect very small changes in light absorption,” explains William Green, manager of the Silicon Integrated Nanophotonics Group at IBM. That information gets fed back to a photodetector on the chip, which converts the signature into an electrical signal. “We map out the absorption and figure out how much methane is there,” Green says. Oil and gas companies would embed a handful of these sensors at various locations around a well pad or compressor station, anywhere from 10 to 100 feet apart. The whole system is wireless, which is critical because oil and gas sites are often remote. When the chips, which continuously monitor the environment, identify a leak, they automatically send that data to IBM’s cloud-based computers. The computers rely on physical models that IBM is currently working on, which combine complex dynamics like wind turbulence, humidity, elevation and temperature to determine the methane’s origin. The system will also eventually incorporate machine learning to help improve the modeling. Once IBM’s models determine the leak source, companies can immediately send people out to fix it. “One of the advantages is that you’re getting alerted real time and it’s being time-stamped and geographically identified,” explains Norma Sosa, manager of Systems and Technologies for Cognitive IoT at IBM. To make the system even more autonomous and maintenance-free, the sensor system can work off solar power. The research is part of a program funded by the U.S. Department of Energy’s Advanced Research Projects Agency–Energy (ARPA–E). Some commercial tools already exist for methane detection. These include the infrared cameras used by the oil and gas industry as well as individual sensors that rely on the same laser light absorption technique that IBM uses—although the design and make-up of IBM’s chip and its smart system are unique. Plus, Green says, methane sensors on the market today are very expensive, large and require a lot of power. “It is impossible to envision deploying a network of [those] sensors, let alone even one such instrument at each well pad for continuous monitoring,” he explains. “The cost is just too high.” IBM has designed its new methane sensor to be low cost—it is aiming for $200 per chip. That means oil and gas companies could set up a large number of these wherever they need them. “This new breed of chip-scale sensors is really intriguing,” says Daniel Zimmerle, director of Colorado State University’s Electric Power Systems Laboratory and principal investigator of its Methane Emissions Test and Evaluation Center. “It’s untested, but it moves the needle on price.” IBM is currently testing its sensor in-house, and plans to test its data models and related components this summer in Colorado. It is also in discussions to run a pilot test for at least one of Southwestern Energy’s well pad sites. IBM envisions other possibilities for this technology as well. The company says its sensors may one day monitor vehicle exhaust pollutants or water contaminants, detect chemical changes around volcanoes or even analyze someone’s breath for disease biomarkers. “That’s a vision for the more distant future,” Green says. For now, the researchers will settle for tackling climate change. *Editor's Note (4/7/17): This sentence was edited after posting. The original incorrectly identified the cable as glass rather than silicon optical.


If you are unable to participate during the live Webcast, the call will be archived on the Company's Web site: www.swn.com.  To access the replay, look under "Latest News." Southwestern Energy Company (NYSE: SWN) is an integrated natural gas company whose wholly-owned subsidiaries are engaged in oil and natural gas exploration and production, natural gas gathering and marketing.  Additional information on the Company can be found on the internet at http://www.swn.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/webcast-alert-southwestern-energy-company-invites-you-to-join-its-first-quarter-2017-earnings-conference-call-on-the-web-300432680.html


If you are unable to participate during the live Webcast, the call will be archived on the Company's Web site: www.swn.com.  To access the replay, look under "Latest News." Southwestern Energy Company (NYSE: SWN) is an integrated natural gas company whose wholly-owned subsidiaries are engaged in oil and natural gas exploration and production, natural gas gathering and marketing.  Additional information on the Company can be found on the internet at http://www.swn.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/webcast-alert-southwestern-energy-company-invites-you-to-join-its-first-quarter-2017-earnings-conference-call-on-the-web-300432672.html


Additional information concerning the terms and conditions of the redemptions are fully described in the notices distributed to holders of the Notes. Beneficial holders with any questions about the redemptions should contact their respective brokerage firm or financial institution. Southwestern Energy Company is an independent energy company whose wholly owned subsidiaries are engaged in natural gas and oil exploration, development and production, natural gas gathering and marketing. Additional information on the company can be found on the Internet at http://www.swn.com. This news release contains forward-looking statements regarding the Company's intention to redeem the Notes. There can be no assurance that such expectation or belief will result or be achieved. The Company's future actions and results can and will be affected by a variety of risks and other matters including, but not limited to, changes in commodity prices; changes in expected levels of natural gas and oil reserves or production; operating hazards, drilling risks, unsuccessful exploratory activities; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; international monetary conditions; unexpected cost increases; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; and general domestic and international economic and political conditions; as well as changes in tax, environmental and other laws applicable to our business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/southwestern-energy-announces-redemption-of-its-330-senior-notes-due-2018-75-notes-due-2018-and-715-notes-due-2018-300447626.html


News Article | April 27, 2017
Site: www.prnewswire.com

First Quarter of 2017 Financial Results E&P Segment – The operating income from the Company's E&P segment improved to $225 million for the first quarter of 2017, compared to an operating loss of $1.2 billion during the first quarter of 2016, primarily due to a $1.0 billion impairment of natural gas and oil properties and $61 million in restructuring charges during this period last year.  Beside the lack of impairments or restructuring charges in the first quarter of 2017, the increase in operating income was primarily due to higher realized natural gas and liquids pricing and lower operating costs partially offset by decreased production.  The average price realized for our NGL production, including the effects of derivatives, increased 167% to $13.28 per barrel, or 26% of NYMEX WTI, for the three months ended March 31, 2017, compared to $4.98 per barrel, or 15% of NYMEX WTI, for the same period in 2016.  The Company expects NGL prices to remain strong with additional ethane cracker demand and incremental export capacity over the next three years. Midstream Segment – Operating income for the Company's Midstream segment, comprised of gathering and marketing activities, was $41 million for the first quarter of 2017, compared to $60 million for the same period in 2016, which included $3 million in restructuring charges.  The decrease in operating income was largely due to a decrease in volumes gathered, resulting from lower production volumes in the Fayetteville Shale. Capital Structure and Investments – At March 31, 2017, the Company had total debt of approximately $4.6 billion and $3.2 billion in net debt.  In the first quarter, the Company repurchased $25 million of its 7.50% Senior Notes due February 2018.  Additionally, the Company today announced its plans to retire the remainder of the 2018 notes and also expects to pay the $40 million outstanding of its notes due in October 2017 when they mature. During the first quarter of 2017, Southwestern invested a total of $290 million.  This included approximately $283 million invested in its E&P business, $6 million invested in its Midstream segment and $1 million invested for corporate and other purposes.  Of the $290 million, approximately $28 million was associated with capitalized interest and $25 million was associated with capitalized expenses. As of April 25, 2017, the Company had approximately 429 Bcf of its remaining 2017 forecasted gas production protected at an average swap or purchased put strike price of $3.03 per Mcf.  Including the protected volumes, the Company retained upside exposure on approximately half of its remaining forecasted 2017 volumes.  Additionally, the Company had approximately 336 Bcf of its 2018 forecasted gas production protected at an average swap or purchased put strike price of $2.98 per Mcf, with upside exposure on approximately 80%, or 268 Bcf, of those protected volumes up to $3.38 per Mcf. The Company also had approximately 99 Bcf of its 2019 forecasted gas production protected at an average purchased put strike price of $2.95 with upside exposure up to $3.31 per Mcf. A detailed breakdown of the Company's natural gas derivative financial instruments as of April 25, 2017 is shown below.  Please refer to our quarterly report on Form 10-Q filed with the Securities and Exchange Commission for complete information on the Company's commodity, basis and interest rate protection. As of April 25, 2017, the Company had also taken steps to mitigate the volatility of basis differentials by protecting basis on approximately 296 Bcf of its 2017 forecasted natural gas production at a basis differential to NYMEX natural gas prices of approximately ($0.73) per Mcf, which includes the impact of both physical and financial basis hedges.  A detailed breakdown of the Company's financial basis positions as of April 25, 2017 is shown below: The Company's proved reserves (unaudited) increased to over 10 Tcf in the first quarter of 2017 based on average prices from the first day of each month from the previous 12 months for Henry Hub natural gas of $2.73 per MMBtu for natural gas, West Texas Intermediate oil of $44.10 per barrel of oil and $10.17 per barrel of total NGLs, adjusted for differentials.  Proved undeveloped reserves accounted for approximately 35% of total reserves compared to 1% at December 31, 2016.  Additionally, Appalachian reserves attributed to approximately 67% of total reserves compared to approximately 43% at year-end 2016.  Proved reserves as of March 31, 2017 had a PV10 value of approximately $3.0 billion and are projected to increase throughout the year based on forward strip pricing. During the first quarter of 2017, Southwestern invested a total of approximately $283 million in our E&P business, and participated in drilling 33 wells, completed 49 wells, and placed 49 wells to sales. Northeast Appalachia – In the first quarter of 2017, the Company placed 24 wells to sales that had an average lateral length of 5,836 feet and an average cost of $5.6 million per well.  The average rate for the first 30 days for the 15 of these wells that were online for at least 30 days was 14.8 MMcf per day.  In Susquehanna County, the 5-well TNT pad was placed to sales using tighter stage spacing and, after 60 days of production, the average EUR of these wells is expected to be approximately 40% higher than offset wells.  To date, the Company has placed 39 wells to sales using increased completion intensity and optimized flow techniques which have resulted in a cumulative production increase of over 200% in the first 30 days over offset wells.  In addition to the acceleration of volumes resulting from these completion and production method changes, the Company also believes these changes are improving the average EUR by over 25% compared to historical well results in Susquehanna County, creating significant incremental value for shareholders. In the first quarter of 2017, the Company placed 7 delineation wells to sales in Susquehanna, Tioga, and Wyoming Counties.  In Susquehanna County, the Company placed the Webster 4H and Webster 5H to sales with an average lateral length of 10,110 feet and combined maximum rate of 38.2 MMcf per day.  These wells are the first wells drilled on the acreage previously acquired in 2015 and are outperforming offset production by over 100%.  Based on these results, the Company plans to drill three additional wells which are expected to come online in the third quarter of 2017.  Additionally, the Company continued its delineation efforts in Tioga County, where it holds over 20,000 net acres, placing two wells to sales in the first quarter of 2017 and drilling three additional wells. The Lepley pad, placed to sales in January, continues to exhibit strong results.  The two Lepley wells had an average rate for the first 30 days online of 13.3 MMcf per day and are expected to continue to improve as compression is added later in the year.  The Company also continues to test its acreage in Wyoming County by placing three wells to sales in first quarter of 2017, observing encouraging results on its southern-most pad in the area.  Due to the successful results in each of these delineation areas, the Company plans to continue its delineation efforts throughout the year. Southwest Appalachia – In the first quarter of 2017, Southwestern brought online 13 wells in Southwest Appalachia with an average lateral length of 7,819 feet and an average cost of $7.2 million per well. The Company continues to perform additional analysis on the O.E. Burge 501H, but early results indicate that this well is in the top quartile of the industry for wells targeting the deep Upper Point Pleasant formation.  Based on current assumptions, the EUR is estimated to be in the range of 2.5 to 3.0 Bcf per thousand feet of lateral completed.  The O.E. Burge is currently flowing flat at 17 MMcf per day with 8,531 psi of casing pressure and the Company plans to hold the well at this rate to continue its pressure management program. Additionally, Southwestern placed 5 wells to sales at the end of January that tested tighter stage spacing and increased proppant loading.  Three of these test wells were on the GW Rentals pad with two completed at 140' stage spacing and 3,500 pounds of proppant per foot and one completed at 100' stage spacing and 5,000 pounds of proppant per foot.  The other two test wells were on the William Ritchea pad and were tested with 140' stage spacing and 3,500 pounds of proppant per foot.  Early indications show all five wells performing better than their closest offsets completed with a wider stage spacing and lower pounds of proppant per foot.  To date, the well results show the 140' and 100' stage spaced wells performing similarly and the Company will continue to monitor these wells to determine if there are long-term performance enhancements at the tighter stage spacing.  The completion testing program and the accelerated learnings from these tests are expected to create significant value for future development activity. Fayetteville Shale – During the first quarter of 2017, the Company placed 12 wells to sales, which included 7 wells from a Moorefield pad.  These seven wells had an average lateral length of 6,442 feet and estimated average EUR of 6.5 Bcf with an average cost of $3.8 million per well.  These wells had an average initial production rate of 6.8 MMcf per day and an average 30th day rate of 5.1 MMcf per day.  These results confirm the Company's understanding of the play and demonstrate the Moorefield's potential to improve economics in the play.  The Company plans to place an additional 8 Moorefield wells to sales through the remainder of 2017. Explanation and Reconciliation of Non-GAAP Financial Measures The Company reports its financial results in accordance with accounting principles generally accepted in the United States of America ("GAAP"). However, management believes certain non-GAAP performance measures may provide financial statement users with additional meaningful comparisons between current results, the results of its peers and of prior periods. One such non-GAAP financial measure is net cash flow. Management presents this measure because (i) it is accepted as an indicator of an oil and gas exploration and production company's ability to internally fund exploration and development activities and to service or incur additional debt, (ii) changes in operating assets and liabilities relate to the timing of cash receipts and disbursements which the Company may not control and (iii) changes in operating assets and liabilities may not relate to the period in which the operating activities occurred. Additional non-GAAP financial measures the Company may present from time to time are net debt, adjusted net income, adjusted diluted earnings per share, adjusted EBITDA and its E&P and Midstream segment operating income, all which exclude certain charges or amounts. Management presents these measures because (i) they are consistent with the manner in which the Company's position and performance are measured relative to the position and performance of its peers, (ii) these measures are more comparable to earnings estimates provided by securities analysts, and (iii) charges or amounts excluded cannot be reasonably estimated and guidance provided by the Company excludes information regarding these types of items. These adjusted amounts are not a measure of financial performance under GAAP. See the reconciliations throughout this release of GAAP financial measures to non-GAAP financial measures for the three months ended March 31, 2017 and March 31, 2016, as applicable. Non-GAAP financial measures should not be considered in isolation or as a substitute for the Company's reported results prepared in accordance with GAAP. Southwestern management will host a teleconference call on Friday, April 28, 2017 at 10:00 a.m. Eastern to discuss its first quarter 2017 results. The toll-free number to call is 877-407-8035 and the international dial-in number is 201-689-8035. The teleconference can also be heard "live" on the Internet at http://www.swn.com. Southwestern Energy Company is an independent energy company whose wholly-owned subsidiaries are engaged in natural gas and oil exploration, development and production, natural gas gathering and marketing. Additional information on the Company can be found on the Internet at http://www.swn.com. This news release contains forward-looking statements. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "intend," "plan," "project," "estimate," "continue," "potential," "should," "could," "may," "will," "objective," "guidance," "outlook," "effort," "expect," "believe," "predict," "budget," "projection," "goal," "forecast," "target" or similar words. Statements may be forward looking even in the absence of these particular words. Where, in any forward-looking statement, the Company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, there can be no assurance that such expectation or belief will result or be achieved. The actual results of operations can and will be affected by a variety of risks and other matters including, but not limited to, changes in commodity prices; changes in expected levels of natural gas and oil reserves or production; operating hazards, drilling risks, unsuccessful exploratory activities; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; international monetary conditions; unexpected cost increases; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; and general domestic and international economic and political conditions; as well as changes in tax, environmental and other laws applicable to our business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, Southwestern Energy Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Cautionary Note to U.S. Investors – The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. We use the term "EUR" in this release that the SEC's guidelines prohibit us from including in filings with the SEC.  The quarterly reserves data included in this release are estimates we prepared that have not been audited by our independent reserve engineers.  U.S. investors are urged to consider closely the oil and gas disclosures in our Form 10-K and other reports and filings with the SEC. Copies are available from the SEC and from the Southwestern Energy Company website. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/southwestern-energy-announces-first-quarter-2017-financial-and-operating-results-300447635.html


News Article | June 8, 2017
Site: www.prnewswire.com

Bill Way, President and Chief Executive Officer, said, "We are pleased that Jennifer has agreed to serve as CFO on an interim basis to ensure continuity and a seamless transition. Jennifer is a seasoned executive who knows our company well, and I am confident that she will assume these responsibilities with the same commitment, capability and expertise she has demonstrated in her seven years at Southwestern Energy. It is a testament to the strength of our organization to have someone of her caliber step into this role. I look forward to working with her and the rest of our Executive Leadership Team as we continue to build on our momentum and leverage our improving financial strength to deliver additional value to our shareholders." "On behalf of the Southwestern Energy Board of Directors and Executive Leadership Team, I want to thank Craig for his significant contributions to the Company," Mr. Way continued. "In his nearly nine years with Southwestern Energy in which he served as Controller, Chief Accounting Officer and then as CFO since 2012, Craig worked closely with Jennifer, playing a leading role in our liability management efforts, capital market transactions and other key transactions that helped strengthen our balance sheet and drive growth. We are in a much stronger financial position, which has enabled us to soundly manage through the challenging commodity environment and positioned us to capitalize on future opportunities." "It has been a true privilege working alongside all of my colleagues at Southwestern Energy, which has an energizing, innovation-driven culture," said Mr. Owen. "I firmly believe Jennifer is the right person to step in as CFO on an interim basis, and I look forward to continuing to work closely with her over the coming weeks. While I'm moving on to the next chapter of my career to pursue a unique opportunity, I remain a shareholder and am confident about the value that is being created from the Company's assets when combined with the leadership team and the highly-talented staff." About Southwestern Energy Southwestern Energy Company is an independent energy company whose wholly owned subsidiaries are engaged in natural gas and oil exploration, development and production, natural gas gathering and marketing. Additional information on the company can be found on the Internet at http://www.swn.com. Forward-Looking Statements This news release contains forward-looking statements. Forward-looking statements relate to future events and anticipated results of operations, business strategies, and other aspects of our operations or operating results. In many cases you can identify forward-looking statements by terminology such as "anticipate," "intend," "plan," "project," "estimate," "continue," "potential," "should," "could," "may," "will," "objective," "guidance," "outlook," "effort," "expect," "believe," "predict," "budget," "projection," "goal," "forecast," "target" or similar words. Statements may be forward looking even in the absence of these particular words. Where, in any forward-looking statement, the Company expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, there can be no assurance that such expectation or belief will result or be achieved. The actual results of operations can and will be affected by a variety of risks and other matters including, but not limited to, changes in commodity prices; changes in expected levels of natural gas and oil reserves or production; operating hazards, drilling risks, unsuccessful exploratory activities; limited access to capital or significantly higher cost of capital related to illiquidity or uncertainty in the domestic or international financial markets; international monetary conditions; unexpected cost increases; potential liability for remedial actions under existing or future environmental regulations; potential liability resulting from pending or future litigation; and general domestic and international economic and political conditions; as well as changes in tax, environmental and other laws applicable to our business. Other factors that could cause actual results to differ materially from those described in the forward-looking statements include other economic, business, competitive and/or regulatory factors affecting our business generally as set forth in our filings with the Securities and Exchange Commission. Unless legally required, Southwestern Energy Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/southwestern-energy-announces-chief-financial-officer-transition-300471028.html


News Article | February 23, 2017
Site: www.prnewswire.com

HOUSTON, Feb. 23, 2017 /PRNewswire/ -- Southwestern Energy Company (NYSE: SWN) today announced its financial and operating results for the fourth quarter and the year ended December 31, 2016. Calendar year 2016 highlights include: Net cash provided by operating activities of...


News Article | February 23, 2017
Site: www.prnewswire.com

HOUSTON, Feb. 23, 2017 Southwestern Energy Company (NYSE: SWN) today announced its total capital investment program in 2017 is planned to be approximately $1.175 to $1.275 billion, funded by expected cash flow and $200 million remaining from its 2016 equity raise. With this investment,...


HOUSTON, Feb. 13, 2017 /PRNewswire/ -- In conjunction with Southwestern Energy Company's 2016 Fourth Quarter earnings release, you are invited to listen to its conference call that will be broadcast live over the Internet on Friday, February 24, 2017, at 10:00 a.m. EST with Bill Way, Presi...

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