800 BOEPD vertical oil well drilled by SWN in LSBD

http://seekingalpha.com/news-article/8032362-southwestern-energy-an...

HOUSTON, Oct. 31, 2013 /PRNewswire/ -- Southwestern Energy Company(NYSE: SWN) today announced its financial and operating results for the three months ended September 30, 2013. Highlights include:

  • Record gas and oil production of 172.4 Bcfe, up 19% compared to year-ago levels
  • 2013 production guidance raised to 653 to 655 Bcfe, up from 643 to 651 previously
  • Adjusted net income of $179.8 million, up 36% compared to year-ago levels when excluding unrealized net gains and losses on derivative contracts and non-cash ceiling test impairments of natural gas and oil properties (a non-GAAP measure reconciled below)
  • Record net cash provided by operating activities before changes in operating assets and liabilities of approximately $526.7 million, up 26% compared to year-ago levels (a non-GAAP measure reconciled below)
  • Marcellus Shale production up 196% compared to year-ago levels; gross operated production surpasses 600 MMcf per day; additional firm transportation capacity secured currently totals over 1 Bcf per day by year-end 2015
  • Record well initial production rate of 10 MMcf per day in theFayetteville Shale
  • Vertical well in Lower Smackover Brown Dense exploration program produces 600 barrels of oil per day

Could be game changer?

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Replies to This Discussion

Permalink Reply by Bubba on November 12, 2013 at 4:27

Barney, SWN has requested a hearing for a second well (another vertical) on the 1280 acre unit. The Sharp well was drilled in the southern half of the 1280. This well will be in the northern 640 acres. I don't have the paperwork with me but maybe I can post it next week.

Permalink Reply by obed w odom on November 12, 2013 at 8:22

I see on SWN's latest investors presentation a new blue star with yellow center, southeast of the Dean wells, where SWN apparently plans to drill in 2013. Does anyone know anything about this location or unit?

Permalink Reply by Skip Peel - Mineral Consultant on November 12, 2013 at 8:33

Can you post the map or a link, obed?

Permalink Reply by obed w odom on November 12, 2013 at 8:55

The Brown Dense map should be on page 14 or 15 of this link:

http://www.swn.com/investors/LIP/latestinvestorpresentation.pdf

Permalink Reply by Skip Peel - Mineral Consultant on November 12, 2013 at 10:09

obed, that star appears to be in 21N - 1E.  There are no SWN units or well permits in that township at this time.

Permalink Reply by Matthew Kable on November 12, 2013 at 10:15

Permalink Reply by Skip Peel - Mineral Consultant on November 12, 2013 at 10:18

There ya go.  Thanks, Matthew.

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