We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Southwestern Energy to Sell Southwest Appalachia Acreage
Read MoreHide Full Article
Independent natural gas operator, Southwestern Energy Company announced that it has entered into a definitive agreement with Antero Resources Corporation (AR - Free Report) . Per the agreement, Southwestern Energy will sell approximately 55,000 net acres in West Virginia for $450 million. The transaction is expected to close in the third quarter of 2016.
The cash proceeds from the transaction are expected to be used to reduce the principal balance of the company's $750 million term loan due in Nov 2018. As of Mar 31, 2016, the company’s long-term debt was $6.4 billion, which represented a debt-to-capitalization ratio of 84.9%.
The properties to be disposed are located in Doddridge, Harrison, Marion, Monongalia, Pleasants, Ritchie, Tyler and Wetzel Counties and are currently producing from the Marcellus Shale. Net production from this acreage is approximately 14 million cubic feet of gas equivalent per day, primarily from non-operated wells. Proved reserves were 11 billion cubic feet equivalent (Bcfe) as of Dec 31, 2015. The company had no plan to drill on these properties before 2023.
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. For the second quarter of 2016, total production is expected between 210 Bcfe and 215 Bcfe. Full-year 2016 production is estimated at 815–835 Bcfe. Of the total expected production for 2016, the company anticipates approximately 364–371 Bcfe from Fayetteville Shale, about 324–332 Bcfe from Northeast Appalachia and 125–130 Bcfe from Southwest Appalachia.
Zacks Rank & Key Picks
Southwestern Energy currently carries a Zacks Rank #3 (Hold). Some better-ranked players from the broader energy sector are Braskem S.A. (BAK - Free Report) and North Atlantic Drilling Limited . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Southwestern Energy to Sell Southwest Appalachia Acreage
Independent natural gas operator, Southwestern Energy Company announced that it has entered into a definitive agreement with Antero Resources Corporation (AR - Free Report) . Per the agreement, Southwestern Energy will sell approximately 55,000 net acres in West Virginia for $450 million. The transaction is expected to close in the third quarter of 2016.
The cash proceeds from the transaction are expected to be used to reduce the principal balance of the company's $750 million term loan due in Nov 2018. As of Mar 31, 2016, the company’s long-term debt was $6.4 billion, which represented a debt-to-capitalization ratio of 84.9%.
The properties to be disposed are located in Doddridge, Harrison, Marion, Monongalia, Pleasants, Ritchie, Tyler and Wetzel Counties and are currently producing from the Marcellus Shale. Net production from this acreage is approximately 14 million cubic feet of gas equivalent per day, primarily from non-operated wells. Proved reserves were 11 billion cubic feet equivalent (Bcfe) as of Dec 31, 2015. The company had no plan to drill on these properties before 2023.
SOUTHWESTRN ENE Price
SOUTHWESTRN ENE Price | SOUTHWESTRN ENE Quote
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. For the second quarter of 2016, total production is expected between 210 Bcfe and 215 Bcfe. Full-year 2016 production is estimated at 815–835 Bcfe. Of the total expected production for 2016, the company anticipates approximately 364–371 Bcfe from Fayetteville Shale, about 324–332 Bcfe from Northeast Appalachia and 125–130 Bcfe from Southwest Appalachia.
Zacks Rank & Key Picks
Southwestern Energy currently carries a Zacks Rank #3 (Hold). Some better-ranked players from the broader energy sector are Braskem S.A. (BAK - Free Report) and North Atlantic Drilling Limited . Each of these stocks sports a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>