Southwestern Energy to exit Fayetteville Shale in $1.86B sale

Sep. 4, 2018 7:28 AM ET|About: Southwestern Energy Co. (SWN)|By: Carl Surran, SA News Editor

Southwestern Energy (NYSE:SWN) +4.8% premarket after agreeing to sell its Fayetteville Shale exploration and production and related midstream gathering assets for $1.865B in cash to Flywheel Energy, which the company says will reposition it to deliver greater value from higher return Appalachia assets.

Flywheel also agrees to assume $438M of future contractual liabilities after taking into account certain obligations retained by SWN.

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While press release shows equity group - Kayne Anderson is putting up the $1.865 Billion - same report shows a group by the name of Flywheel Energy?  Any idea who they are?

I didn't find anything on Flywheel Energy and suspect that the company is newly created by Kayne Anderson to act as the operator of the Fayetteville Shale assets.

Very little info available about Flywheel...


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