Southwestern Completes $2.7B Indigo Takeover as Haynesville Interest Heats Up

Southwestern Energy Co. has completed its $2.7 billion takeover of Haynesville Shale pure-play Indigo Natural Resources LLC.

The deal completed Wednesday gives Southwestern a sizable footprint in the resurgent Louisiana play, improving the firm’s access to Gulf Coast liquefied natural gas (LNG) export markets.

“This acquisition materially expands our opportunity set, adding high-margin Haynesville production and substantial core drilling inventory while providing additional global market access through the LNG corridor,” said Southwestern CEO Bill Way. “It also further de-risks our enterprise, increases free cash flow, extends our maturity profile and accelerates our deleveraging goals.

Upon announcing the close, Southwestern updated its guidance for the rest of the...