Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
Southwestern Q1; Record Production of 182.0 Bcfe
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Southwestern Energy Company has announced its financial and operating results for the quarter ended March 31, 2014.
First quarter highlights include: Record gas and oil production of 182.0 Bcfe, up 23% compared to year-ago levels; Record adjusted net income of $231.4 million, or $0.66 per diluted share, up 58% compared to year-ago levels when excluding losses on derivative contracts, net of settlements (a non-GAAP measure reconciled below); Record net cash provided by operating activities before changes in operating assets and liabilities of approximately $616.7 million, up 45% compared to year-ago levels (a non-GAAP measure reconciled below); and Marcellus Shale gross operated production reaches 800 MMcf per day; net production up 147% compared to year-ago levels.Steve Mueller…
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