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Southwestern Energy Plans 5 Rigs and Drill 60 Wells In 2016
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Flush with capital from it's equity offering, Southerwestern Energy has revised its capital & drilling program for 2016. Below is the company's new Guidance.
Rig Program
North East Appalachia : Two Rigs (Marcellus Dry Gas) SouthWest Appalachia : 2 Rigs (Marcellus Liquids) Fayetteville : 1 RigWell Program
Wells Plan to Drill : 60 (mid-point of guidance) Wells Plan To Complete : 105 (mid-point of guidance) Wells Plan To Put On Production : 125 (mid-point of guidance)The Company is currently in the process of reinitiating drilling and completion activity in each of its operating areas and plans to make incremental capital investments of up to $500 million from its July equity offering, with approximately $375 million of this incremental capital expected to be invested before the end…
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