Southwestern Finalizes $1.9B Sale of Fayetteville Portfolio to PE-Backed E&P
Tuesday,December 04,2018
Southwestern Energy has completed the $1.865B sale of its Fayetteville assets to Flywheel Energy, LLC, a private company backed by Kayne Private Energy Income Funds.
Click here to access the deal in Shale Experts' M&A Database
Southwestern is now a pure-play E&P focused on Appalachia.
The proceeds will be used to retire senior notes of $900 million, retire the outstanding balance under the Company's revolving credit facility, repurchase stock up to the remainder of the Company's $200 million stock buyback program and invest in Appalachia assets over the next two years, subject to market conditions. Proceeds will be held in cash and cash equivalents until applied.
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