Quarterly / Earnings Reports | Debt | First Quarter (1Q) Update | Production Rates | Hedging | Capital Markets | Drilling Activity
Southwestern Q1-2016; Loss $1.1 Billion; Adds Hedging, Production Growth
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Southwestern Energy Company has announced its financial and operating results for the quarter ended March 31, 2016 as well as an update to the progress made on the strategic initiatives disclosed in February 2016.
Highlights: Exceeded guidance with natural gas and oil production of 237 Bcfe, including 134 Bcfe from the Appalachia Basin and 103 Bcf from the Fayetteville; Protected balance sheet with additional 2016 hedges; approximately 23% of expected gas production between April and October hedged utilizing fixed price swaps and put options with an average floor price of $2.42 per Mcf. Net production:237 Bcfe in the first quarter of 2016, up from 233 Bcfe in the first quarter of 2015. Q1 2016: 103 Bcf from the Fayetteville Shale, 94 Bcf from Northeast Appalachia and 40 Bcfe from…
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