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Southwestern Energy Breakout Notes

Bill Way, president and CEO of Southwestern Energy Company, (ticker: SWN) presented today at EnerCom’s The Oil & Gas Conference® 22.

Southwestern Energy is an oil and gas producer active in NW and SE Appalachia and the Fayetteville shale. The company’s primary acreage is in its Fayetteville core, but it has increasingly focused on building growth in the Appalachia assets, with new delineations and completions underway.

During Q2, Southwestern indicated that it had a net income of $224 million and that it had produced a total of 222 Bcfe throughout the quarter. Its production grew by 9% from the first quarter. The company drilled 24 wells in the Marcellus, and brought 36 wells to sales there. Its first Utica well indicated strong potential, with a flat rate of 15 Mmcf per day.

During the company’s breakout session, management was asked the following questions:

  • Can you talk about how you achieved success on your Seymore well?
  • What is your HBP in both Appalachia and the Panhandle?
  • How much spending do you have in the southwest Appalachian assets?
  • What do you mean when you said de-bottleneck production?
  • How do you see your northeast PA assets before Atlantic Sunrise ?
  • In Utica, if you get to 12 to 14 well process targeting, could it compete with the Marcellus?
  • Is there anything you need or can do on the gathering side?
  • Are you considering adding additional acreage in the northeast?
  • Are your remaining four or five wells for stepping out or for dealing with water?
  • In northeast Pennsylvania, if the Seymore well becomes the standard well design, given the current gathering system, would that place handle that type of drilling?
  • In southwest Appalachian, PDP well with Chaspeake,what do you see in the direct offset wells to those PDP well? Do you see pressure issues in the direct offsets or those wells were so inefficiently stimulated that you basically overcome that?
  • Who owns the most of Atlantic Sunrise? Do the utilities own most of capacity of Atlantic Sunrise?

Southwestern Energy presented at EnerCom’s 2017 The Oil & Gas Conference®.

You can listen to the company’s presentation by clicking here.

You can view the company’s Q2 update by clicking here.

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