What Defines SWN Rigorous Our People - Increasing financial Leading Premier quality, capital discipline and technology, large scale efficiency and value focused operating and assets margin capital commercial expansion…
SWN at a Glance SWN is an independent energy company Northeast Appalachia with operations focused across 480,000 100% gas 184,024 Net Acres net acres in the Appalachia Basin 2018 Proved Reserves 4.4 Tcf 2019E Production(3) 1,270…
Our Strategy in Action Rigorous Financial Organic Growth, Discipline, Liquids-rich Returns-focused Driving Enhanced Well Opportunistic Growth Shareholder Performance, Diligent Cost Management Value Transition to Free…
Recent Performance Catalysts Q1 2019 Appalachia production up 14% to 182 Bcfe with liquids up 34% vs. Q1 2018 Generated adjusted EBITDA(1) of 319MM Net cash flow of 309MM,(1) 325MM capital investment E&P margin of 1.79 per Mcfe, up…
Strong and Flexible Balance Sheet Net Debt / Adjusted EBITDA Debt Maturity Schedule (MM) 4.5x 2,000 Sr Notes Wtd Avg YTM: 6.4 years(2) Sr Notes Wtd Avg Interest: 6.7%(2) Sr Notes Outstanding: 2.3B(2) 1,500 2.8x 1,000 1.9x…
Liquids Production and Realizations Third largest liquids producer in Appalachia Greater than 200% liquids revenue growth since 2016 5% 10% 20% increase in liquids revenue in Q1 2019 compared to Q1 2018 Ethane Propane NGL 34%…
Driving Well Costs Down Decreasing well costs by 25% to an average 875/ft Longer laterals, direct sourced sand, water system and vertical integration Increasing average lateral lengths on wells to sales by 35% to over 10,000 ft…
Vertical Integration Competitive advantages increase capital efficiency Own and operate 7 super-spec Realizing full cost savings from drilling rigs and 1 frac fleet Southwest Appalachia water project Strategic and economic benefit…
Appalachia NGL Capacity Ample regional and SWN processing/fractionation capacity Select basin infrastructure shown, Capacity in place locations are approximate Processing capacity Pennant Keystone 10.1 Bcf/d(1) - In basin…
NGL Markets Flow reliability and marketing optionality Ethane Appalachia Liquids Marketing Options Firm capacity on ATEX and Mariner Canadian West with access to Mariner East 1 Petrochemical Markets Northeast Optionality to…
Northeast Appalachia Gas Takeaway Access to diversified and premium markets 2019: 28% City Gate Transportation Cost(1,2,3) Algonquin 2019: 67% Tetco M3 Greater Appalachia TGP Z6 South Total Firm Takeaway Annual WAVG Rate Dominion…
Southwest Appalachia Gas Takeaway Right sized with access to premium markets Transportation Cost(1,2,3) 2019: 9% M2 Appalachia Total Firm Takeaway Annual WAVG Rate Dominion South Year (MMBtu/d) per MMBtu Tetco M2 NYMEX Related…
Appalachia Resource Potential Resource Potential (Tcfe) Resource Breakdown 53 Lower Marcellus 23 Tcfe 42 Upper Marcellus 4 Tcf Upper Devonian 10 Tcfe Utica / Point Pleasant 16 Tcf Total 53 Tcfe YE 2017 YE 2018 Total…
Building Long-Term Shareholder Value Dynamic and disciplined capital allocation Transition back to free cash flow neutral by end of 2020 Strong and flexible balance sheet Diversified commodity risk gas, NGLs, oil Improving costs,…
Appendix 1818
An Industry Leader in Corporate Responsibility Methane emissions from Appalachian assets of 0.057%, over 96% lower than the national average Highest score among 30 largest North American publicly traded oil and gas producers in…
Environmental, Social and Governance Board independence Management compensation 8 out of 9 directors are independent Independent directors approve compensation President and CEO only non-independent Mix of awards weighted heavily on…
Hedge Position Gas Hedge Summary(1) Propane Hedge Summary 2019 2020 2021 Year Volume (Bbl/day) Weighted Average Price (/gal) Swaps 226 24 0 2019 6,790 0.75 2-Way Collars 53 0 0 2020 3,250 0.64 3-Way Collars 170 122 37 Ethane…
Southwest Appalachia Super Rich Gas Well performance WellSWN Results Exceeding Drilled Expectations & Completed Super Rich Gas Condensate (Normalized to 10,000 ft lateral) Gen 1 Completions (42 wells) Gen 2 Completions (74 wells) 16…
Southwest Appalachia Rich Gas Well performance Well Results Exceeding SWN Drilled Expectations & Completed Rich Gas Condensate (Normalized to 10,000 ft lateral) Gen 1 Completions (22 wells) Gen 2 Completions (15 wells) 32 BCFe Type…
Northeast Appalachia Well performance SWN Drilled & Completed Dry Gas (Normalized to 9,500 ft lateral) 2018 Susquehanna 2019E Tioga 2019E Average lateral length 7,584 ft 9,500 ft 9,500 ft Well cost 7.5 MM 7.6 MM 7.9 MM Cost…
Financial and Operational Summary 3 Months Ended March 31, Year Ended Decem ber 31, 2019 2018 2018 2017 2016 ( in millions, except per share amounts) ( in millions, except per share amounts) Revenues 990 920 3,862 3,203 2,436…
Explanation and Reconciliation of Non-GAAP Financial Measures: Net Cash Flow We define net cash flow as cash flow from operating activities adjusted for changes in operating assets and liabilities and restructuring charges. Management…
Explanation and Reconciliation of Non-GAAP Financial Measures: Adjusted Net Income Attributable to Common Stock Additional non-GAAP financial measures we may present from time to time are adjusted net income attributable to common stock…
Explanation and Reconciliation of Non-GAAP Financial Measures: Adjusted EBITDA EBITDA is defined as net income plus interest, income tax expense, depreciation, depletion and amortization. Adjusted EBITDA is defined as EBITDA less gains…
Explanation and Reconciliation of Non-GAAP Financial Measures: Net debt / Adj. EBITDA Net debt is defined as short-term debt plus long-term debt less cash and cash equivalents. Adjusted EBITDA is defined as net income plus interest,…
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