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Southwestern Energy Co (SWN.N)

SWN.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Southwestern Energy pivots to value-adding growth
Thursday, 23 Feb 2017 04:30pm EST 

Southwestern Energy Co : Southwestern Energy pivots to value-adding growth and announces guidance for 2017 . Says total capital investment program in 2017 is planned to be approximately $1.175 to $1.275 billion . Co says southwestern is targeting total net gas and liquids production of 890 to 910 bcfe in 2017 . Assuming capital budget based on current strip pricing in both 2017 and 2018, sees delivering double-digit production growth in 2018 . Sees 2017 diluted earnings per common share $0.35 - $0.45 . Sees 2017 net cash flow $1,075 million - $1,125 million . Says during 2017, company plans to invest $1.1 billion to $1.2 billion in its E&P business .Had about 272 BCF of its 2018 forecasted gas production protected at an average swap or purchased put strike price of $2.97 per MCF.  Full Article

Southwestern Energy Q4 loss per share $0.48
Thursday, 23 Feb 2017 04:30pm EST 

Southwestern Energy Co : Southwestern Energy announces operational update and 2016 financial results . Southwestern Energy qtrly adjusted earnings per share $0.08 . Southwestern Energy qtrly loss per share $0.48 . Southwestern Energy qtrly total production 202 bcfe versus 249 bcfe .Southwestern Energy says Q4 operating revenue $367 million versus $406 million last year.  Full Article

Third Point takes share stake in Rice Energy, Broadcom, Southwestern Energy
Friday, 10 Feb 2017 04:42pm EST 

Third Point LLC : Third Point LLC takes share stake of 2.7 million shares in Rice Energy Inc - SEC filing . Third Point LLC takes share stake of 7.0 million shares in Zayo Group Holdings . Third Point LLC takes share stake of 300,000 shares in Broadcom Ltd . Third Point LLC takes share stake of 5.0 million shares in Southwestern Energy Co .Third Point LLC - Change in holdings are as of Dec 31, 2016 and compared with previous quarter ended as of Sept 30, 2016.  Full Article

Southwestern Energy Q2 adjusted non-gaap loss per share $0.09
Thursday, 21 Jul 2016 05:27pm EDT 

Southwestern Energy Co : Net production totaled 225 BCFE in Q2 of 2016, down less than anticipated from 245 BCFE in Q2 of 2015 . Reinitiated drilling with first rig this week in northeast appalachia; intends to increase company-wide rig count to 5 by Q3 end . NGL and oil production guidance for 2016 is raised to 865 to 875 BCFE, an increase of about 5% over previous 2016 guidance . Southwestern Energy announces second quarter 2016 results, improved guidance, outcomes of financial strengthening efforts and resumption of drilling and completion activity . Q2 adjusted non-gaap loss per share $0.09 . Q2 loss per share $1.61 . Q2 earnings per share view $-0.10 -- Thomson Reuters I/B/E/S . Raising total year production guidance range by 45 BCFE or 5% (using midpoints) to 865 BCFE to 875 BCFE . "Plans to make incremental capital investments of up to $500 million from its July equity offering" . Restructuring charges associated with workforce reduction, which were $11 million for e&p segment in Q2 of 2016 . Sees Q3 total production 206 - 211 BCFE . Sees Q4 total production 197-202 BCFE .Qtrly operating revenues $522 million versus $764 million.  Full Article

Southwestern Energy amends tender offers
Friday, 15 Jul 2016 08:30am EDT 

Southwestern Energy Co : Announced additional amendments with respect to previously announced cash tender offers to purchase outstanding senior notes . Amendments provide for increase in consideration offered per $1,000 principal amount of notes .Amendments provide for extension of period during which validly tendered notes are eligible to receive early tender premium.  Full Article

Southwestern Energy prices upsized offering of 86 mln shares
Wednesday, 29 Jun 2016 09:40am EDT 

Southwestern Energy Co : Southwestern energy prices upsized offering of 86,000,000 shares of common stock . Offering was upsized from previously announced offering of 75,000,000 shares of Southwestern Energy's common stock . Says net proceeds from offering will be used to repay $375.0 million of $750.0 million term loan co entered into in Nov 2015 .Says gross proceeds of offering will be approximately $1.1 billion.  Full Article

Southwestern Energy announces public offering
Wednesday, 29 Jun 2016 06:37am EDT 

Southwestern Energy Co : Says offering 75.0 million common shares . Says intends to grant respective underwriters a 30-day option to purchase up to 11.25 million additional shares of stock . Net proceeds from offering will be used to repay $375.0 million of $750.0 million term loan co entered into in November 2015 . Says commencement of an underwritten public offering of 75 million shares of its common stock .Southwestern Energy announces proposed public offering of common stock.  Full Article

Southwestern Energy rearranges and extends bank credit facilities
Monday, 27 Jun 2016 05:02pm EDT 

Southwestern Energy Co : Southwestern energy rearranges and extends bank credit facilities . Entered agreements with substantially all of its bank group for its $2.0 billion revolving line of credit . Interest rates will be 0.50% above levels in company's existing revolving credit facility . Southwestern energy co says existing $750 million term loan is extended to December 14, 2020 , provided at least $375 million is paid by June 30, 2017 . Existing unsecured revolving credit agreement due in Dec 2018 remains in place but with aggregate commitment reduced to $66 million .Co's existing unsecured revolving credit agreement due in Dec 2018 remains in place but with aggregate commitment reduced to $66 million.  Full Article

Southwestern Energy says sale of portion of southwest Appalachia acreage
Thursday, 9 Jun 2016 04:15pm EDT 

Southwestern Energy Co - : Entered into agreement with Antero Resources Corporation to sell about 55,000 net acres in West Virginia for $450 million . Cash proceeds from transaction expected to be used to reduce principal balance of co's $750 million term loan due in November 2018 .Southwestern energy announces sale of a portion of southwest Appalachia acreage.  Full Article

Southwestern Energy Company to lay off 1,100 workers amid oil slump - Reuters
Thursday, 21 Jan 2016 06:37am EST 

Southwestern Energy Company:Southwestern Energy Co SWN.N said it would lay off 1,100 employees, or nearly 40 percent of its workforce, as it slows down drilling activity in response to a prolonged slump in oil prices - RTRS.The company said it expects to record a pre-tax charge of about $60 million to $70 million in the first quarter. Southwestern, which had no drilling rigs in operation at the start of 2016, had 2,781 employees at the end of 2014 - RTRS.  Full Article

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BRIEF-Southwestern Energy pivots to value-adding growth

* Southwestern Energy pivots to value-adding growth and announces guidance for 2017