Getting hard to keep up. Six months after closing on the $1.6 billion acquisition of Texas-based Montage Resources, Houston’s Southwestern Energy (SWN) has snapped up something even bigger to further surf the Gulf Coast LNG wave. Reese Energy Consulting today is following the latest news from SWN which—following the Montage merger last December—was crowned the nation’s third-largest natural gas producer with a combined production of 3 BCFD, and all of it from the Marcellus and Utica. SWN has operated exclusively in the Appalachian region since the mid-2000s after selling its first-born E&P and midstream assets in the Ark., Fayetteville for $1.8+ billion. Now, Southwestern Energy will venture outside its eastern home base with the $2.7 billion purchase of Indigo Natural Resources and its sizeable gas prizes in northern La., bound for premium Gulf Coast markets. The deal includes 280,000 net acres in the Haynesville and Bossier shale plays and adds 1.1 BCFD of natural gas production to the company’s portfolio for a total 4+ BCFD.
What do you think? Learn more about Reese Energy Consulting and our range of natural gas, NGLs, and LNG services at www.ReeseEnergyConsulting.com.
Southwestern Energy is a natural gas exploration and production company organized in Delaware and headquartered in Spring, Texas. The company is ranked 776th on the Fortune 500. The company’s primary exploration and production activities are in the Appalachian Basin in Pennsylvania and West Virginia.