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Tag Archives: southwestern energy co.

Southwestern Energy to shed 1,100 jobs

Southwestern Energy to shed 1,100 jobs

Southwestern Energy Co. announced layoffs Thursday as drilling activity stalls. The Houston-based company will reduce its workforce by more than 40 percent, according to filings with the Securities and Exchange Commission. The oil and natural gas driller expects to shed 1,100 jobs as it copes with falling natural gas prices. About 300 of those laid off are part of Southwestern’s ...

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Southwestern Energy repays loan for Marcellus land acquisition

Southwestern Energy Co. is issuing nearly 20.3 million shares of common stock and 26 million depositary shares in an effort to pay off a bridge loan that financed the company’s Marcellus Shale land purchase. The loan the company took out was a one year term loan for $4.5 billion.  It temporarily financed Southwestern Energy’s purchase agreement with Chesapeake Energy Corp. ...

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Southwestern Energy expands in Marcellus and Utica

Southwestern Energy Co., based out of Houston, Texas, extended its footprint in the Marcellus and Utica shale plays. The Houston Business Journal reports, “Southwestern signed a purchase and sale agreement for undivided 20 percent of in Norway-based Statoil ASA’s (NYSE: STO) ownership in oil and gas assets in West Virginia and southwest Pennsylvania for $394 million, subject to adjustments, according ...

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Producers shrugging off New York fracking ban

Even if the Cuomo administration had allowed fracking in New York State, it’s uncertain that oil and gas companies would have blitzed the borders, according to the Pittsburgh Business Times. Sam Kusic reports that Jim Tramuto, vice president of governmental and regulatory strategies for Southwestern Energy Co., said operators prefer to be in states that are welcoming and where the ...

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WPX Energy sells Marcellus Shale assets in Northeast Pennsylvania for $300 million

An Oklahoma-based energy company will sell its Marcellus Shale assets in Northeast Pennsylvania to Southwestern Energy Co. as part of a $300 million deal. WPX Energy, which specializes in producing natural gas, oil and natural gas liquids, announced the agreement Tuesday. The two parties are expected to close the deal, which is subject to regulatory approval, in the first quarter ...

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Owners of gas rights gain leverage through groups

When friends Ethan Ward and Kathleen Wright Croft successfully negotiated a group gas-drilling lease with fellow property owners in Washington County, they heard one question from neighbors: “How can I start a group?” “Large groups have a lot of power,” said Ward, a Donegal farmer and district judge who helped negotiate seven leases between land groups and gas companies ranging ...

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Chesapeake to sell oil and gas assets for $5.37 bln

Oct 16 – Chesapeake Energy Corp said it would sell some oil and gas assets in Marcellus and Utica shale fields in West Virginia and Pennsylvania to Southwestern Energy Co for about $5.37 billion, sending its shares up 5.8 percent premarket. Chesapeake, the second-largest U.S. producer of natural gas, has been selling assets to reduce debt and improve profitability after ...

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“We’re in a golden age for exploration” – Company profile: Southwestern Energy Co.

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Shane Thielges | Shale Plays Media The annual Barclays CEO Energy Conference, held in New York this week, provided an opportunity for energy company executives to showcase their successes and update their colleagues on the previous year’s business. Steve Mueller, CEO of Southwestern Energy Company, gave a presentation on Tuesday outlining the company’s growth in the past year and the ...

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