Southwestern

Record natural gas liquids production in Southwest Appalachia and soaring prices in Northeast Appalachia during the third quarter demonstrated two highly competitive divisions that the company will be even more focused on after the sale of its Fayetteville Shale assets is completed by year’s end.

A relative newcomer to the oil and natural gas industry may have found a way to monetize the upstream sector’s costly attempts to manage emissions and produce natural gas in a more responsible way using an asset rating system that could be applied to basins across the country.

Southwestern Energy Co. is going all-in on the Appalachian Basin, announcing on Tuesday that it would exit the play it gave rise to with the $1.9 billion sale of the Fayetteville Shale assets and move some of the proceeds into the liquids-rich Northeast, which has consistently outperformed declining production in Arkansas.

Southwestern Energy Co. has asked the Pennsylvania Supreme Court to decide if the rule of capture applies to oil and natural gas produced from hydraulically fractured (fracked) wells and whether operators can be held liable for subsurface trespass in what could be a landmark appeal if the justices agree to hear the case.

The Pennsylvania Superior Court has declined to reconsider an opinion issued in April that could find unconventional oil and natural gas producers liable for subsurface trespass.

The Appalachian Basin continued to drive results for Southwestern Energy Co. during the first quarter, with a 37% year/year increase in natural gas liquids (NGL) production.

Southwestern Energy Co. has asked the Pennsylvania Superior Court to reconsider an opinion issued earlier this month that could find unconventional oil and gas producers liable for subsurface trespass, arguing that a two-judge panel misunderstood crucial facts and claiming the case is of “national significance.”

Southwestern Energy Co. has started the process of exiting the Arkansas play it helped build, but how long it may take is unclear, as management looks to once again push the Fayetteville Shale’s performance to maximize its sale value.

Southwestern Energy Co.has named Julian Bott as CFO, effective March 5. Jennifer Stewart, who has served as interim CFO since last year when R. Craig Owen left totake the same position at Rosehill Resources, has been named vice president of government and regulatory affairs. Bott previously worked at as CFO for SandRidge Energy Inc. Also, Michael Hancock has been named as vice president of financial planning and analysis. Paige Penchas is to replace Hancock as director of investor relations.