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Oil and Gas

Southwestern Energy to sell shale business for $1.87 bln

Sept 4 (Reuters) - Oil and gas producer Southwestern Energy Co said on Tuesday it would sell its Fayetteville shale business to privately owned Flywheel Energy LLC in an all-cash deal for about $1.87 billion.

As part of the deal, Flywheel will assume $438 million of future contractual liabilities. The transaction is effective July 1 and is expected to close in December.

Reporting by Shanti S Nair in Bengaluru; Editing by Arun Koyyur

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