In the second quarter of 2008, Southwestern signed a 50/50 joint venture agreement with a private company targeting the Haynesville/Bossier Shale intervals in Shelby and San Augustine Counties, Texas. The first horizontal well, the Red River 877 #1 located in Shelby County, reached total depth in the fourth quarter of 2008, was production tested at 7.2 MMcf per day in the first quarter of 2009. The second horizontal well, the Red River 164 #1 located in San Augustine County, was production tested at 13.4 MMcf per day in the second quarter of 2009. The company completed a third well, the Red River 619 #1 located in San Augustine County, which was production tested in the third quarter of 2009 at 16.7 MMcf per day. A fourth well, the Burrows Gas Unit #1-H, is currently being tested. A fifth well, the Red River 257 #1 is waiting on completion. The company is currently drilling a sixth well, the Red River 257 #2 located in San Augustine County. Southwestern plans to participate in at least one additional well during 2009. In total, Southwestern has approximately 32,800 net acres it believes is prospective for the Haynesville/Bossier Shale.

Southwestern engages in gas gathering activities in East Texas in connection with its Angelina properties. At year-end 2008, the company had approximately 9 miles of pipeline in Texas.
For 2010 in East Texas, the company expects to participate in approximately 50 to 60 gross wells, 22 to 27 of which will be operated. Of the wells planned in 2010, 21 to 26 wells will be targeting the Haynesville or Middle Bossier Shales and 29 to 34 wells will be targeting the James Lime, Pettet or Cotton Valley formations.

Last Updated on 12/28/09
http://www.swn.com/operations/Pages/easttexas.aspx

Also of interest is a video on this page: http://www.swn.com/operations/pages/default.aspx

and their latest Investor Presentation:
http://www.swn.com/investors/LIP/latestinvestorpresentation.pdf