One-Page Deal Sheet
Southwestern to Acquire Montage Resources in All-Stock Deal
Southwestern Energy Co. Montage Resources Corp.
Announced Date
August 12,2020
Close Date
November 13,2020
Transaction Type
Corporate
Enterprise Value (EV)($MM)
857
Asset/Basin:
["Appalachian Basin"]
TargetZones:
["Utica Shale", "Mar
Net Acres
Proved Reserves
PDP PV-10 ($MM)
Location
Calculated Metrics( EV/Category)
Region
Northeast - Appalachia
Country
United States
State
Pennsylvania
County
Washington
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
$/Location
Production ($/Mcfe/d)
Residual Metrics Residual Value
Transaction Details: Subscribe to see
Southwestern Energy Co. has agreed to acquire Montage Resources in an all-stock transaction.
Montage Resources shareholders will receive 1.8656 shares of Southwestern for each Montage Resources share.
The deal is worth ~$857 million (including debt of $670 million), according to analysts at Raymond James & Assoc.
This deal closed on November 13, 2020.
Pro-Forma AssetsSWN CEO Bill Way said: "This is an exciting step for Southwestern as we expand our Appalachia footprint with the high-quality assets of Montage. As we have consistently stated, we are firm believers in the benefits of…
Northeast - Appalachia Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Feb-02-2026 |
-  |
- |
Click here | Texas | E&P |
| Jan-08-2026 |
- |
- |
Click here | West Virginia | E&P |
| Dec-08-2025 |
- |
- |
Click here | West Virginia | E&P |
| Dec-08-2025 |
- |
- |
Click here | Ohio | E&P |
| May-30-2025 |
- |
- |
Click here | Ohio | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Feb-02-2026 | Devon Acquires Coterra Energy; Bulk Up on Permian, Adds Gas Bank | - |
- |
| Dec-08-2025 | Antero Resources Acquires HG Energy II for $3.9B | - |
- |
| Apr-22-2025 | EQT Acquires Olympus Energy Assets For $1.8 Billion | - |
- |