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 net acres in the Appalachia Basin 184,024 Net Acres 2018 Proved Reserves 4.4 Tcf Resource Potential 53 Tcfe…
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…
Q3 2019 Highlights Leading operational efficiency gains resulting in more wells to sales while maintaining capital discipline and not exceeding 1.15 billion annual capital investment Beating 25% well cost reduction target, averaging…
Top Tier Balance Sheet SWN Debt Maturity Schedule (MM)(1) Differentiated 5 Year Debt Maturity Profile(3,4) 3,500 Sr Notes Wtd Avg YTM: 5.9 years 3.0B 3,000 Sr Notes Wtd Avg Interest: 6.7% Sr Notes Outstanding: 2.3B 2.4B 2.5B 2,500…
Liquids Production and Realizations Third largest liquids producer in Appalachia Super Rich Well Total liquids production expected to Composition 5% average 75.6 MBls/d(1) in 2019 45% NGL 10% Leading condensate/oil producer in 16%…
Superior Condensate Acreage Largest in Appalachia Basin SWNs 107,000 super rich acres has highest condensate yield, highest condensate production in Appalachia, and supports to a higher realized price per Mcfe Super rich drilling…
Peer Leading Condensate Producer Initial 6 month cumulative condensate production per well and average condensate yield highest among Appalachia peers(1) Daily condensate production in Q3 2019 highest among peers Higher condensate…
Delivering Top Tier Well Costs Today On track to beat well cost target of 875 per lateral foot Full year forecast of 793 per lateral foot for wells drilled, completed and online in 2019 Increasing average lateral lengths on wells to…
Vertical Integration Competitive advantage delivering top quartile operational performance Strategic and economic benefit derived from vertical integration SWN-owned super-spec drilling rigs and frac fleet Mitigates services cost…
Appalachia NGL Capacity Ample regional and SWN processing/fractionation capacity Flow assurance with capacity Select basin infrastructure shown, locations are approximate optionality in place Keystone Diversified, flexible…
NGL Markets Flow reliability and marketing optionality Multiple sales outlets provide Appalachia Liquids Marketing Options flexibility to optimize pricing Canadian Ethane Petrochemical Markets Midwest Northeast Firm…
Northeast Appalachia Gas Takeaway Low cost 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…
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 to Reserves Converting resource to proved reserves Resource Potential (Tcfe) through subsurface expertise, performance 53 improvements and cost reductions 42 Further delineation of Upper…
Industry Leader in Corporate Responsibility Safety first. One team culture goal used by FRESH WATER all contractors and employees NEUTRAL Founding member, dedicated to reducing Total recordable injury rate of 0.64 in 100% of SWN…
Building Long-Term Shareholder Value Rigorous, disciplined and returns-based capital allocation process Transitioning back to cash flow neutrality by end of 2020 Strong and flexible balance sheet Diversified commodity risk gas,…
Appendix 2121
Southwest Appalachia Super Rich Gas Well performance WellSWN Results Exceeding Drilled Expectations & Completed Super Rich Gas Condensate (Normalized to 10,000 ft lateral) Gen 2 Completions (109 wells) 20 BCFe Type Curve 29 BCFe…
Southwest Appalachia Rich Gas Well performance Well Results Exceeding SWN Drilled Expectations & Completed Rich Gas Condensate (Normalized to 10,000 ft lateral) Gen 2 Completions (20 wells) 36 BCFe Type Curve 42 BCFe Type Curve 48…
Northeast Appalachia Dry Gas Well performance SWN Drilled & Completed Dry Gas (Normalized to 9,500 ft lateral) Susquehanna & Bradford (129 Wells) Tioga (24 Wells) 15 BCF EUR Curve 20 BCF EUR Curve 25 BCF EUR Curve 35,000 30,000…
Hedge Position Gas Hedge Summary(1) Oil Hedge Summary 2019 2020 2021 Year Volume (Bbl/day) Weighted Average Price (/Bbl) Swaps 61 151 0 2019 12,516 60.24 2-Way Collars 6 0 0 2020 7,750 58.48 3-Way Collars 44 209 134 2021 2,000…
Hedge Position Natural gas hedges by quarter as of September 30, 2019 Hedge Hedge Summary Summary 160 2019 2019 (Rem.) (Rem.) 2020 2020 2021 2021 Swaps Swaps 61 61 151 151 00 2-Way 2-Way Collars Collars 66 00 00 140 134…
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 7 out of 8 directors are independent Independent directors approve compensation President and CEO only non-independent Mix of awards weighted heavily on…
Financial and Operational Summary 9 Months Ended Septem ber 30, Year Ended Decem ber 31, 2019 2018 2018 2017 ( in millions, except per share amounts) ( in millions, except per share amounts) Revenues 2,293 2,687 3,862 3,203 Adjusted…
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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