Southwestern Energy Co. (SWN) - NYSE
  • Fri, Jul. 22, 1:58 PM
    • Southwestern Energy (SWN +9.5%) is surging after reporting a lighter than expected Q2 loss and raising its full-year production guidance.
    • After halting exploration in H1 as it focused on strengthening its balance sheet, SWN says it is now operating a rig in northeast Appalachia and plans to increase its company-wide rig count to five by the end of Q3.
    • SWN raises its FY 2016 production forecast by ~5% to to 865B-875B cfe, mostly the result of the strong portfolio performance.
    • “The company is now prepared to return to growth," says RBC analyst Scott Hanold.
    • J.P. Morgan upgrades shares to Neutral from Underweight, citing the company's "strong" Q2 report.
    | Fri, Jul. 22, 1:58 PM | 7 Comments
  • Fri, Jul. 22, 9:11 AM
    | Fri, Jul. 22, 9:11 AM | 8 Comments
  • Thu, Jul. 21, 5:35 PM
    • Southwestern Energy (NYSE:SWN): Q2 EPS of -$0.09 beats by $0.01.
    • Revenue of $522M (-31.7% Y/Y) beats by $2.32M.
    • Shares +1.4% AH.
    • Press Release
    | Thu, Jul. 21, 5:35 PM | 5 Comments
  • Wed, Jul. 20, 5:35 PM
    | Wed, Jul. 20, 5:35 PM | 13 Comments
  • Tue, Jul. 12, 10:49 AM
    • Southwestern Energy (SWN +8.4%) does not explicitly endorse new Obama administration regulations aimed at curbing the escape of methane gas from new wells and equipment, but it is among several prominent companies that agree that more methane controls are necessary, NY Times reports.
    • SWN is helping to lead an industry group, One Future, which aims to reduce methane leakage to less than 1% of total U.S. gas production; other members of the group include Apache (APA +4.1%), BHP Billiton (BHP +3.1%), Hess (HES +4.1%) and Kinder Morgan (KMI +2.4%).
    • SWN says the $14M it has spent on equipment, studies and other efforts to stem gas leaks has nearly paid for itself with the methane captured and sold.
    • Others in the industry say new, more efficient extraction methods make additional oversight unnecessary and expensive, particularly given the sharp drop in natural gas prices in recent years.
    | Tue, Jul. 12, 10:49 AM | 11 Comments
  • Wed, Jun. 29, 10:25 AM
    • Southwestern Energy (SWN -5.8%) upsizes and prices its common stock offering to 86M shares, now expecting gross proceeds of ~$1.1B; trading is resumed after a brief halt; the offering was upsized from the previously announced offering of 75M shares.
    • SWN says the proceeds from the offering will be used to repay $375M of a $750M term loan, with the remaining proceeds to fund tender offers to purchase some of its senior notes.
    • Analysts at Wells Fargo like the move, even as it acknowledges equity dilution to current shareholders, as SWN’s balance sheet and liquidity are much better positioned than a week ago.
    | Wed, Jun. 29, 10:25 AM | 4 Comments
  • Wed, Jun. 29, 7:44 AM
    • Southwestern Energy (NYSE:SWN) -4.2% premarket after announcing a public offering of 75M common shares, with an underwriters option to purchase up to an additional 11.25M shares.
    • SWN says it plans to use the proceeds to repay half of a $750M term loan and to buy back some of its senior notes.
    • With 392.7M shares outstanding, the offering would increase the total by 19%.
    | Wed, Jun. 29, 7:44 AM | 4 Comments
  • Tue, Jun. 28, 5:23 PM
    • Southwestern Energy (NYSE:SWN) surged 12% in today's trade after reaching deals with its lender extending maturities and modifying other terms of its $2B revolving line of credit and a $750M term loan.
    • SWN restructured its $2B credit facility into a $1.191B secured term loan and a $743M revolving credit facility due in December 2020 and extended its $750M term loan by two years to December 2020, provided that at least $375M is paid by June 2017.
    • Jefferies analysts remain concerned, saying the move will increase SWN's annual interest expense by $35M and provide only $800M of available liquidity less a bank requirement to always have $300M-$500M on its balance sheet; the firm rates shares at Underperform with a $5 price target.
    | Tue, Jun. 28, 5:23 PM | 6 Comments
  • Tue, Jun. 28, 2:02 PM
    | Tue, Jun. 28, 2:02 PM | 5 Comments
  • Wed, Jun. 15, 7:34 AM
  • Thu, Jun. 9, 5:36 PM
    • Top gainers, as of 5.25 p.m.: MJN +8.0%. HRB +6.3%. BG +6.1%. SWN +1.8%. SVU +1.7%.
    • Top losers, as of 5.25p.m.: BABA -15.6%. MPEL -12.8%. TTM -11.9%. MGA -11.9%. MFRM -10.7%.
    | Thu, Jun. 9, 5:36 PM | 17 Comments
  • Thu, Jun. 9, 4:48 PM
    • Antero Resources (NYSE:AR) -2.5% AH after agreeing to acquire 55K net acres and 14M cfe/day of net production in West Virginia's Marcellus Shale from Southwestern Energy (NYSE:SWN) for $450M.
    • AR says substantially all the acreage will be dedicated to Antero Midstream Partners (NYSE:AM) for gas gathering, compression, processing and water services.
    • To fund the deal, AR announces a public offering of 26.75M common shares, with an underwriters option to purchase up to an additional ~4M shares.
    • SWN says it plans to use the cash from the deal to reduce the principal balance of its $750M term loan due in November 2018.
    | Thu, Jun. 9, 4:48 PM | 24 Comments
  • Tue, Jun. 7, 2:56 PM
    • Southwestern Energy (SWN -0.6%) tells the RBC energy conference that the company is evaluating bids on 230K net acres in southwest Appalachia, which it considers a non-core asset as it has no near-term drilling plan there.
    • RBC’s Scott Hanold says SWN management indicated it may look to sell some or all upstream and midstream assets “if it made sense."
    • Separately, KLR Group downgrades shares to Hold from Accumulate on valuation; the firm also initiated Marathon Oil with a Buy rating.
    | Tue, Jun. 7, 2:56 PM | 7 Comments
  • Fri, May 13, 11:28 AM
    • Natural gas producers have been among the stock market’s worst performers in recent years, but this year they have ranked among the best amid signs a glut could shrink soon.
    • Four of the nine top performing S&P 500 stocks YTD are natural gas producers, making them among the best-returning commodity stocks and outperforming peers in oil; Southwestern Energy (SWN -1.5%), Range Resources (RRC +1.5%), Cabot Oil & Gas (COG +0.1%) and EQT (EQT -0.4%) were up more than 35% so far this year.
    • Indications of easing supply have helped natural gas prices rebound 31% over the past two months after hitting new lows in March, but the question now is whether the rally marks the start of a powerful turnaround in gas prices, supported by deep cuts from producers, or a short-lived surge based on optimistic forecasts.
    • ETFs: UNG, UGAZ, DGAZ, BOIL, GAZ, KOLD, UNL, DCNG
    | Fri, May 13, 11:28 AM | 3 Comments
  • Mon, Apr. 25, 2:19 PM
    • Southwestern Energy (SWN -2.5%) is downgraded to Market Perform from Outperform with a $13 price target at Cowen, which sees limited upside for the shares after spiking 57% so far this month.
    • Cowen thinks SWN is on track to achieving its goals of strengthening the balance sheet and preparing for debt repayment in 2018.
    • SWN may beat Q2 expectations, given its updated production numbers, cost assumptions and hedges, the firm says, adding that the frontloading of the company’s capital budget will allow it to stem anticipated H1 production declines.
    • Now read Southwestern Energy easily clears lower Q1 expectations, shares +13%
    | Mon, Apr. 25, 2:19 PM | 1 Comment
  • Fri, Apr. 22, 3:23 PM
    • Southwestern Energy (SWN +13.2%) surges after reporting a much narrower than expected Q1 loss that's only around a third of the size of its year-ago deficit while $579M in revenues fell 38% Y/Y but still beat analyst estimates.
    • SWN says it produced 237B cf of natural gas during Q1, including 134B cf from the Appalachia Basin and 103B cf from the Fayetteville shale formation, surpassing its prior guidance of 230B-235B cf.
    • Including the effect of hedges, SWN's average realized gas price in the quarter was $1.48/Mcf down from $2.99.
    • Now read Southwestern Energy cut to Sell at UBS on valuation
    | Fri, Apr. 22, 3:23 PM | 4 Comments
Company Description
Southwestern Energy Co. is an independent energy company, which engages in the natural gas and oil exploration, development and production. It also focuses on creating and capturing additional value through its natural gas gathering and marketing businesses. The company operates its business... More
Industry: Independent Oil & Gas
Country: United States