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Friday, March 3, 2017

Southwestern Energy CEO Talks 4th Quarter 2016 Results

From Seeking Alpha:
Capital allocation is based on individual project economics and prioritize based on returns against strip prices. In Northeast Appalachia, we expect to run two rigs with the majority of the activity centered on our core Susquehanna County acreage with additional delineation testing throughout other portions of our acreage. In Southwest Appalachia, we anticipate running two rigs throughout the year, primarily drilling in the rich gas window of the Panhandle of West Virginia, targeting highly economic wells from our enhanced operational results and increased liquid pricing. 
Additionally, in this area, we are very encouraged by the early results of our first Utica well and as a result have accelerated the timing for our second test well located in Washington County Pennsylvania, which was spud earlier this month. And you will recall that we had originally planned to begin our Utica testing in 2018, but results from wells and circling our position and our first well, provided us with the confidence to accelerate this activity.
Read the entire earnings call transcript by clicking here.

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