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Stock impact report

Southwestern Energy to scale back drilling operations in H2 [Seeking Alpha]

Southwestern Energy Company (SWN) 
Last southwestern energy company earnings: 4/30 04:19 pm Check Earnings Report
US:NYSE Investor Relations: swn.com/investors/pages/default.aspx
Company Research Source: Seeking Alpha
Southwestern Energy ( SWN ) says it plans to cut back drilling activity during H2, lowering its average H1 rig count of six rigs to two rigs by the end of Q3. The planned reduction in drilling activity was in response to continued low commodity prices seen in the Appalachian region for natural gas and natural gas liquids, SWN said during today's earnings conference call . SWN reported Q2 2019 production fell 20% Y/Y to 2.04B cfe/day from 2.57B cfe/day in the year-ago quarter, but the result rose by 11% Y/Y when excluding the Fayetteville divestiture. SWN's Q2 earnings came in just shy of analyst consensus estimates, "mainly driven by weaker than expected NGL and natural gas price realizations, factors outside of management's control," according to Stifel Nicolaus analysts. See all stocks on the move » Now read: Earthstone Energy, Inc. 2019 Q2 - Results - Earnings Call Slides » Subscribe for full text news in your inbox Show less Read more
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