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 Grow differentiated and sustainable shareholder value through returns-focused investment and consistent operational outperformance in leading high quality, concentrated, large scale, low cost assets with an…
Q2 2019 Highlights On track to deliver 25% annual average well cost reduction on wells to sales; 866 per lateral foot in the quarter with average lateral length of 10,128 feet Rigorously managed front-half loaded capital program;…
Strong and Flexible Balance Sheet Net Debt / Adjusted EBITDA Debt Maturity Schedule (MM) 4.5x 2,000 Sr Notes Wtd Avg YTM: 6.1 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% 15% increase in liquids production in Q2 2019 compared to Q2 2018 Ethane Propane NGL 30%…
Driving Well Costs Down in 2019 On track to reduce well costs by 25% to average 875 per lateral foot Longer laterals, direct sourced sand, water system and vertical integration Increasing average lateral lengths on wells to sales by…
Vertical Integration Competitive advantages increase capital efficiency Own and operate 7 super-spec Southwest Appalachia piped water drilling rigs and 1 frac fleet infrastructure Strategic and economic benefit Up to 800,000 per…
Appalachia NGL Capacity Ample regional and SWN processing/fractionation capacity Select basin infrastructure shown, Capacity in place locations are approximate Processing capacity Pennant Keystone 10.3 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: 26% City Gate Transportation Cost(1,2,3) Algonquin 2019: 70% 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 Year (MMBtu/d) per MMBtu Tetco M2 NYMEX Related 2019…
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,…
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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 131 24 0 2019 12,125 0.71 2-Way Collars 25 0 0 2020 7,000 0.64 3-Way Collars 67 148 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) 15% 37% PRODUCTION MIX 48% Gas NGL Oil 2018…
Southwest Appalachia Rich Gas Well performance Well Results Exceeding SWN Drilled Expectations & Completed Rich Gas Condensate (Normalized to 10,000 ft lateral) 1% 47% PRODUCTION MIX 52% Gas NGL Oil 2018 2019E Average…
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 6 Months Ended June 30, Year Ended Decem ber 31, 2019 2018 2018 2017 2016 ( in millions, except per share amounts) ( in millions, except per share amounts) Revenues 1,657 1,736 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.…
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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