Replies to This Discussion

Permalink Reply by Bradley McWilliams on February 20, 2013 at 8:23

SWN's 4th quarter report tomorrow at 9:00 am.  They usually have an updated investors presentation and release about the call the evening before, so maybe something new to look at as we get iced in up here tonight...

Permalink Reply by L Davis on February 20, 2013 at 12:28

Link to SWN fourth quarter earnings report.  See Page 11 for Brown Dense.

http://www.swn.com/investors/Press_Releases/2013/02.20.13.pdfto 

Permalink Reply by ddozier on February 20, 2013 at 13:55

Other than a summation of well results ,,here's the important meat"In February 2013, the company reached a tentative agreement for a joint venture in its Brown Dense play that includes an initial cash payment as well as a 3-year term carry on accelerated investment activity. Final terms of the potential joint venture agreement will be disclosed upon closing of the agreement. Southwestern is encouraged by what it has learned from its early work in the Brown Dense play to date and has permitted and plans to drill additional wells in the area in 2013. If the company’s drilling program yields positive results, it expects that activity in the play could increase significantly over the next several years.''''
Not uncommon but makes me think they are reaching for a bit of help..question is who,,

Permalink Reply by North LA on February 20, 2013 at 15:06

The plot thickens. Good news IMHO. If this deal works out it will add capital and potential expertise to the play.

Permalink Reply by Bradley McWilliams on February 21, 2013 at 2:49

I agree.  I see it as a good sign that they are looking for a JV.  If they simply put it up for sale, that would read as "goat pasture", but JV makes you think something is there.

Permalink Reply by obed w odom on February 21, 2013 at 5:09

Does anyone care to speculate who the JV partner might be. It seems to me that the most likely candidate is Exxon Mobil. In the Dean horizontal it seems that Exxon owns the majority of the minerals, so some agreement must have already been reached with them. At the conference this morning SWN was still very closed-mouth about this deal, but my guess is that Exxon is the "elephant in the room."

Permalink Reply by North LA on February 21, 2013 at 9:11

http://seekingalpha.com/article/1211991-southwestern-energy-managem...

Permalink Reply by Aubrey C. Sanders, Jr. on March 6, 2013 at 6:54

Obed, I think you are "on Target". I believe XTO/XOM has incentive and they certainly have the expertise.

 

 

Permalink Reply by obed w odom on March 4, 2013 at 16:21

SWN will present at the Raymond James Conference in Orlando, FL, on March 6. Time is 7:40-8:10 AM CST. There will be a webcast

Permalink Reply by Tribo on March 6, 2013 at 4:21

Well SWN finally 'almost' called the BD an economic play today in their webcast at 15 mins in. Key points for me: 400 BOPD is economic-well cost still $12MM-JV Partner to soon be announced for 3 year drilling program. Good luck to everyone!

Permalink Reply by North LA on March 6, 2013 at 4:36

I wonder if the shorter lat has anything to due with calling a 400bopd well economic. He was saying it required a 500bopd well but that was with a 8000ft lat and assuming an eagle ford decline curve. They should have an idea of the decline curve now and the 400 bopd must fit the economic model. Excited to see who the jv is now.

Permalink Reply by whodat on March 6, 2013 at 5:13

I wonder if the JV could be Murphy oil?????? They did make there fortune in the area several years ago.

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