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Southwestern Cuts Capex -8% for 2019; Well TIL Activity to Decrease 24%
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Southwestern Energy has announced 2019 production, capital and cost guidance.
**This guidance is based on maximizing shareholder value assuming $2.85 per MMBtu NYMEX Henry Hub and $50 per barrel WTI commodity price environment in 2019.
2019 Plans- 2019 Capex: $1,080-1,180 million (down -8% (adjusted for Fayetteville sale) from $1.25B in 2018)
- 2019 Production Guidance: 750-785 Bcfe - an increase of +11% YOY (adjusted)
- Well Plans:
Wells Drilled: 95-115 Wells Completed: 100-120 Wells TIL: 90-110D&C activity will be weighted to the first half of 2019.
***Last year, Southwestern sold off its Fayetteville assets for $1.9B - so the chart below has been adjusted to reflect Appalachia spending only (all years).
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