Replies to This Discussion

Permalink Reply by obed w odom on July 25, 2013 at 9:39

I don't know much about the intricacies of the market, but I read that SWN had a lot of short sellers, betting that the price of SWN stock would go down. When that didn't happen, these guys may now be rushing to buy SWN to cover their positions, causing the price to go up more than it otherwise would have. In any event, I think the increase in price is a positive sign for SWN.

Permalink Reply by L Davis on August 1, 2013 at 10:12

Second Quarter Financial results.  Look for 'NEW Ventures' on page 9 for brown dense comments.

http://www.swn.com/investors/Press_Releases/2013/08.01.13.pdf

Permalink Reply by Jon on August 1, 2013 at 10:39

TEXT FROM SWN SECOND 1/4 FINANCIALS

New Ventures – In the Lower Smackover Brown Dense formation located in southern Arkansas and northern Louisiana, the company has drilled eight operated wells in the play area to date, three of which are currently producing and two are being completed. The company’s BML #31-22 #1-1H horizontal well located in Union Parish, Louisiana, was placed on production in June 2012 and reached a peak production rate of 421 barrels of condensate per day and 3,900 Mcf of gas per day. After 288 days on production, the BML well produced an average of 104 barrels of condensate per day and 1,230 Mcf of 1,220 Btu gas per day for the month of July. The company’s Dean 31-

22-1E #1 vertical well, located in Union Parish was placed on production in October 2012 and reached a peak production rate of 214 barrels of condensate per day and 1,273 Mcf of gas per day. After 155 days on production, the well produced an average of 82 barrels of condensate per day and 509 Mcf of gas per day in July. The company remains encouraged by the flattening production profiles of both the BML and Dean vertical wells. The company’s Doles 30-22-1H #1 horizontal well located in Union Parish was placed on production in November 2012 and reached a peak production rate of 435 barrels of condensate per day and 2,500 Mcf of 1,250 Btu gas per day. After 196 days on production, the well produced an average of 30 barrels of condensate per day and 750 Mcf of gas per day in July. The company’s Sharp 22-22-1 #1 vertical well in Union Parish was drilled to a total vertical depth of 9,776 feet and is currently being completed with 4 planned stages. The company is encouraged by early flow rates from the first stage in the Sharp well which is currently producing approximately 125 barrels of condensate and 326 Mcf of gas per day. The company’s Dean 31-22-2H Alt horizontal well in Union Parish was drilled to a total vertical depth of 10,055 feet with a lateral length of 3,172 feet and is being completed with 16 planned stages. Southwestern currently plans to drill three additional vertical wells in the play during 2013.

Permalink Reply by Jon on August 1, 2013 at 11:03

How does the price of a barrel of condensate compare to the price of a barrel of oil?