Southwestern’s Focus on Balance Sheet Repair Position the Company for a Rebound in 2017
Southwestern Energy’s third-quarter results were highlighted by a resumption in drilling and completion activity and another quarter of cash flow generation meeting or exceeding capital spending. Combined with the balance sheet repair efforts undertaken over the past few months—including the issuance of equity and longer-dated notes and the sale of noncore properties in West Virginia—Southwestern is in a reasonably good financial position, with $1.5 billion of cash, $3.2 billion of net debt, and...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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