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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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.
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?
Can you post the map or a link, obed?
The Brown Dense map should be on page 14 or 15 of this link:
http://www.swn.com/investors/LIP/latestinvestorpresentation.pdf
obed, that star appears to be in 21N - 1E. There are no SWN units or well permits in that township at this time.
There ya go. Thanks, Matthew.
In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of) nor local residents appear to have received any compensation for the minerals extracted from their land.
This area has suffered immense environmental degradation…
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