From Surf Wiki (app.surf) — the open knowledge base

Southwestern Energy

Energy Company

Field	Value
name	Southwestern Energy Company
logo	Southwestern Energy logo.jpg
founded	(as Arkansas Western Gas Company)
defunct
fate	Merged into Chesapeake Energy
successor	Expand Energy Corporation
location	Spring, Texas, U.S.
key_people	William J. Way,
(CEO & President)
Carl F. Giesler, Jr., CFO
industry	Petroleum industry
products	Natural gas
production	4.573 billion cubic feet of natural gas equivalent per day (2023)
revenue	(2023)
net_income	$1.557 billion (2023)
assets	$11.991 billion (2023)
equity	$5.888 billion (2023)
num_employees	1,165 (2023)
footnotes

(CEO & President) Carl F. Giesler, Jr., CFO

Southwestern Energy Company was a natural gas exploration and production company organized in Delaware and headquartered in Spring, Texas. In October 2024, the company merged into Expand Energy.

The company's primary exploration and production activities were in the Appalachian Basin in Pennsylvania and West Virginia, as well as the Haynesville Shale. The company also controlled 2,518,519 net undeveloped acres in New Brunswick, Canada, subject to an indefinite moratorium on hydraulic fracturing.

As of December 31, 2023, the company had 19.660 trillion cubic feet of natural gas equivalent of estimated proved reserves, of which 77% was natural gas, 20% was natural gas liquids, and 3% was petroleum.

History

The company traced its roots to Arkansas Western Gas Company, which was established in July 1929 as a subsidiary of Southern Union Gas Company of Dallas.

In 1985, the company acquired Mustang Fuel for $200 million in stock.

In 2013, the company acquired assets in the Marcellus Shale from Chesapeake Energy for $93 million.

In December 2014, the company acquired 413,000 net acres in the Upper Devonian, Marcellus and Utica shales in West Virginia and Southwest Pennsylvania from Chesapeake Energy for $5.375 billion.

In December 2018, the company sold its assets in the Fayetteville Shale for net proceeds of $1.65 billion.

In November 2021, the company acquired GEP Haynesville for $1.85 billion.

In October 2024, the company merged into Expand Energy.

Controversies

Public opposition to hydraulic fracturing in New Brunswick, Canada

In 2003, shale gas was discovered in New Brunswick, Canada. The company received exclusive licenses from the Department of Energy and Resource Development to conduct an exploration program. However, after protests by local citizens, in 2015, the provincial government in New Brunswick imposed a moratorium on hydraulic fracturing, and in May 2016, the government announced that the moratorium would continue indefinitely.

References

(February 22, 2024). "Southwestern Energy Company 2023 Form 10-K Annual Report". [[U.S. Securities and Exchange Commission]].
(May 30, 1985). "Southwestern Link Set With Mustang". [[The New York Times]].
(April 29, 2013). "Southwestern Energy Announces Acquisition of Marcellus Shale Properties". [[PR Newswire]].
(December 22, 2014). "Southwestern Energy Completes Acquisition Of Southwest Marcellus And Utica Assets". [[PR Newswire]].
Olabi, Nora. (December 22, 2014). "Southwestern Energy buys more interest in Marcellus and Utica after multibillion-dollar deal closes". [[American City Business Journals]].
(December 4, 2018). "Southwestern Energy Completes Transformational Sale of Fayetteville Shale Business". [[Business Wire]].
(November 4, 2021). "Southwestern Energy Announces Agreement to Acquire GEP Haynesville". [[Business Wire]].
Pulsinelli, Olivia. (October 2, 2024). "Expand Energy begins trading after Chesapeake closes acquisition of Southwestern Energy". [[American City Business Journals]].
(October 1, 2024). "Chesapeake Energy and Southwestern Energy Complete Merger and Provide Third Quarter Earnings Conference Call Information, Company Rebranded as Expand Energy". [[PR Newswire]].
(July 26, 2011). "Fracking firm says vandals won't stop it". [[CBC News]].
(August 10, 2011). "Seismic testing trucks blocked by protesters". [[CBC News]].
(November 26, 2011). "IN DEPTH: N.B. shale gas industry". [[CBC News]].
(December 2, 2011). "Sussex mayor warns shale gas ban is not the answer". [[CBC News]].
(November 29, 2013). "Anti-shale gas protest closes Highway 11 in N.B. for hours". [[CBC News]].
(October 17, 2013). "RCMP, protesters withdraw after shale gas clash in Rexton". [[CBC News]].

Info: Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

1929-establishments-in-texas 2024-mergers-and-acquisitions companies-formerly-listed-on-the-new-york-stock-exchange energy-companies-established-in-1929 non-renewable-resource-companies-established-in-1929

Want to explore this topic further?

Ask Mako anything about Southwestern Energy — get instant answers, deeper analysis, and related topics.

Research with Mako

Free with your Surf account

Content sourced from Wikipedia, available under CC BY-SA 4.0.

This content may have been generated or modified by AI. CloudSurf Software LLC is not responsible for the accuracy, completeness, or reliability of AI-generated content. Always verify important information from primary sources.

Report