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Acquisition of Montage Resources – Southwestern Energy Co.

Southwestern Energy Co. · Aug 12, 2020 · 11 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Acquisition of Montage Resources – Southwestern Energy Co. – slide 1
    Appalachia Consolidation Acquisition of Montage Resources August 12, 2020 NYSE: SWN www.swn.com 1
  2. Acquisition of Montage Resources – Southwestern Energy Co. – slide 2
    Shareholder Returns Driven Strategy Position SWN as a gas and gas liquids leader in Appalachia Increasing Create Protect Resilience & Sustainable Value Financial Strength Relevance Deliver free cash flow Invest in projects that…
  3. Acquisition of Montage Resources – Southwestern Energy Co. – slide 3
    Complementary Appalachia Acquisition Transforms SWN to free cash flow Strengthens financial metrics, including ROCE, CFPDAS, Create CFPS, FCFPS, EPS and margins(1) Sustainable Value Free cash flow of approximately 100 million(2,3)…
  4. Acquisition of Montage Resources – Southwestern Energy Co. – slide 4
    SWN Northeast Appalachia Net Acres: 173,994(3) SWN + MR Overview YE 2019 Proved Reserves: 4.8 Tcf(3) 1H2020 Production: 1,247 MMcf/d(5) Flexible, high-quality portfolio 100% gas Increasing scale and improving returns Montage…
  5. Acquisition of Montage Resources – Southwestern Energy Co. – slide 5
    Transaction Summary No premium, all-stock transaction MR shareholders will receive 1.8656 SWN common shares for every share of MR stock owned Southwestern shareholders will own 90% of the combined company Subject to customary…
  6. Acquisition of Montage Resources – Southwestern Energy Co. – slide 6
    Montage Asset Base High quality acreage Southwest Appalachia Acreage Map 324,500 net acres(1) across Southeast Ohio, Northwest West Virginia and Northeast Pennsylvania spanning all commodity windows Emerging 183,700 acres in Utica…
  7. Acquisition of Montage Resources – Southwestern Energy Co. – slide 7
    Portfolio Optionality Increasing depth of high quality inventory Acquired assets provide attractive returns Portfolio integrates well with near-term Returns Driven Investment Flexibility development plans; drilling across all…
  8. Acquisition of Montage Resources – Southwestern Energy Co. – slide 8
    Top Tier Balance Sheet 5 year senior note maturity profile remains differentiated 2.0B 2.0B 1.3B 1.0B 0.9B 0.6B (1) SWN + MR Peer A Peer B Peer C Peer D Peer E 2020 2021 2022 2023 2024 Building on financial strength…
  9. Acquisition of Montage Resources – Southwestern Energy Co. – slide 9
    Resilient Value Proposition First Half of 2020 Production (Bcfe/day)(2) 4.0 Increases scale 3.4 2.8 Creates the 3rd largest producer in Appalachia, in 2.3 2.3 both total equivalent and liquids production 1.2 Scale improves…
  10. Acquisition of Montage Resources – Southwestern Energy Co. – slide 10
    Transaction Aligns with SWN Strategy Accretive long-term value proposition for shareholders Create Protect Increase Drive Sustainable Financial Scale Best-In-Class Value Strength Execution Strengthens Accretive Immediate…
  11. Acquisition of Montage Resources – Southwestern Energy Co. – slide 11
    Why Invest in SWN Building long-term shareholder value Premier asset base 786,000 acres across West Virginia, Pennsylvania and Ohio Tier 1 natural gas acreage high-rate, high-value natural gas assets; approximately 80% of production…

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