Steven L. Mueller, Chairman of the Board and Chief Executive Officer of Southwestern Energy (NYSE: SWN), presented today at EnerCom’s The Oil & Gas Conference® 20.
Southwestern Energy is a growing independent energy company primarily engaged in natural gas and crude oil exploration, development and production. Its gas business is located in the Fayetteville Shale in Arkansas and the Marcellus Shale in Pennsylvania. The company is also engaged in the exploration of oil and natural gas in other new venture plays in North America.
Southwestern Energy reported favorable results from test wells in unproven acreage of Northeast Appalachia, and increased its 2015 production guidance to 982 Bcfe from 973 Bcfe, while decreasing 2015 capital expenditures guidance to $1.875 billion.
During the company’s breakout session, management was asked the following questions:
- Are you a victim of your own success? Your production is terrific but you flooded the market with so much gas.
- Do you think 10 rigs overall can support your 2015 production guidance?
- Do you have any comments on the rigs in Colorado?
- Can you give us some color on the midstream environment?
- What is the spending in the Brown Dense formation this year to the next year?
- What is the preferred structure on that potential JV in Asia? How will you proceed?
- What is your philosophy on how to generate money and how to spend it?
- LNG may start to go out of the country, but there are a lot of reversals that could happen in the Gulf. What would that do for the Fayetteville?
- You were talking about how much more productive wells are now, but if you look at some other basins not so very far away, people are using refracs. At what price do you think it will worth even it to start thinking about doing some refracs?
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