Southwestern Energy (SWN) 8-K Southwestern Energy Announces Sale of

 

NEWS RELEASE 

SOUTHWESTERN ENERGY ANNOUNCES SALE OF 

CONVENTIONAL ASSETS IN EAST TEXAS AND ARKOMA

Houston, Texas –  March 20, 2015...Southwestern Energy Company (NYSE: SWN) announced today that it has executed a definitive agreement with a private buyer to sell Southwestern Energy’s conventional oil and gas assets located in East Texas and the Arkoma Basin for approximately $218 million. The proceeds from the transaction will be used to reduce debt. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2015. 

“Combined with the already announced divestiture of our northeast Pennsylvania gathering system, this transaction achieves the net divestiture proceeds targeted as part of the acquisition financing plan,” remarked Steve Mueller, Chairman and Chief Executive Officer of Southwestern Energy. “With the acquisition financing now complete, we will continue our focus on extracting the long-term value from our premier assets for our shareholders for years to come.”    

RBC Richardson Barr advised Southwestern in connection with this transaction.

Southwestern Energy Company is an independent energy company whose wholly-owned subsidiaries are engaged in natural gas and oil exploration, development and production, natural gas gathering and marketing. Additional information on the company can be found on the Internet at http://www.swn.com.

Contacts:	Steve Mueller Chairman and Chief Executive Officer (832) 796-4700
R. Craig Owen Senior Vice President		Michael Hancock Director, Investor Relations
and Chief Financial Officer (832) 796-2808		(832) 796-7367 michael_hancock@swn.com

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