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United States

Southwestern Energy Co (SWN.N)

SWN.N on New York Stock Exchange

11.67USD
2 Dec 2016
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Latest Key Developments (Source: Significant Developments)

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

Southwestern Energy Co names Bill Way as Chief Executive Officer
Wednesday, 6 Jan 2016 08:01am EST 

Southwestern Energy Co:Bill Way has been appointed President and Chief Executive Officer by the Board of Directors succeeding Steve Mueller.Steve Mueller will continue to serve as a director and as non-executive Chairman of the Board until he retires at the May 2016 annual meeting of stockholders.  Full Article

Southwestern Energy Co improves liquidity by entering into a three-year term loan agreement
Tuesday, 17 Nov 2015 04:20pm EST 

Southwestern Energy Co:Improves liquidity by entering into a three-year term loan agreement.Says entered into a $750 million three-year term loan agreement.Says used proceeds to pay down balances under its existing credit facility and commercial paper program.Says anticipate outstanding debt to remain flat or decline throughout 2016.Filed automatic shelf registration statement on form s-3 that will replace company's former automatic shelf registration statement.  Full Article

Southwestern Energy Co raises FY 2015 production guidance
Monday, 27 Jul 2015 05:18pm EDT 

Southwestern Energy Co:Increases FY 2015 production guidance to 973 Bcfe to 982 Bcfe.  Full Article

BRIEF-Southwestern Energy announces 2016 Q3 financial results

* Southwestern Energy Co announces 2016 third quarter operational update and financial results