Southwestern Energy Finally Set to Reverse Production Declines in 2017
The impact of a prolonged reduction in spending was evident in Southwestern Energy’s fourth-quarter results, which saw volumes decline 4% sequentially and almost 20% year over year, alongside a dismal reserve replacement ratio of just 32% during 2016. Nevertheless, the company has begun to ramp up drilling and completion activity and expects capital spending to double in 2017, which should result in accelerating growth throughout this year. Our current forecast is roughly in line with management...Southwestern Energy is a holding company. Through its subsidiaries, the company is an independent energy company engaged in exploration, development and production activities, including the related marketing of natural gas, oil and natural gas liquids (NGLs) produced in its operations. The company's primary business is the exploration for, and production of, natural gas, oil and NGLs. The company's operations in northeast Pennsylvania are primarily focused on the unconventional natural gas reservoir known as the Marcellus Shale, and its operations in West Virginia and southwest Pennsylvania are focused on the Marcellus Shale, the Utica and the Upper Devonian unconventional natural gas, oil and NGL reservoirs.
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