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Last $16.24 USD
Change Today +0.24 / 1.50%
Volume 15.9M
SWN On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/31/15 All times are local (Market data is delayed by at least 15 minutes).

southwestern energy co (SWN) Key Developments

Southwestern Energy Announces Lay Off of 102 Employees

Southwestern Energy laid off 102 employees including 80 in Arkansas. The reduction in operations and shifting capital budgets across Southwestern Energy related to commodity prices unavoidably led to a lower number of employees being required in certain areas. The company laid off Arkansas workers in Cleveland, Conway, Damascus and Judsonia. In total, this has impacted approximately 4% of total employee population. The overwhelming majority of the layoffs were in Arkansas largely because of reduced drilling.

Southwestern Energy Co. Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Capital Investments Guidance for the Year 2015; Provides Production Guidance for the Third Quarter, Fourth Quarter and Full Year of 2015; Reports Impairment of Natural Gas and Oil Properties for the Second Quarter of 2015

Southwestern Energy Co. reported unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported operating revenues of $764 million compared to $1,035 million a year ago. Operating loss was $1,284 million compared to operating income of $367 million a year ago. Loss before income taxes was $1,281 million compared to income before income taxes of $347 million a year ago. Net loss was $788 million or $2.13 per diluted share compared to net income of $207 million or $0.59 per diluted share a year ago. Net loss attributable to common stock was $815 million against net income attributable to common stock was $207 million a year ago. Adjusted net loss attributable to common stock was $9 million, or $0.02 per diluted share compared to adjusted net income attributable to common stock of $207 million, or $0.59 per diluted share a year ago. Net cash provided by operating activities before changes in operating assets and liabilities was $339 million for the second quarter of 2015, compared to $579 million for the same period in 2014. On a GAAP basis, net cash provided by operating activities was $399 million for the second quarter of 2015, compared to $585 million in the second quarter of 2014. For the six months, the company reported operating revenues of $1,697 million compared to $2,148 million a year ago. Operating loss was $1,119 million compared to operating income of $802 million a year ago. Loss before income taxes was $1,154 million compared to income before income taxes of $670 million a year ago. Net loss was $710 million or $2.01 per diluted share compared to net income of $401 million or $1.14 per diluted share a year ago. Net loss attributable to common stock was $762 million against net income attributable to common stock was $401 million a year ago. Adjusted net income attributable to common stock was $74 million or $0.20 per diluted share compared to $438 million or $1.24 per diluted share a year ago. Net cash provided by operating activities was $940 million against $1,194 million a year ago. Capital investments were $974 million against $970 million a year ago. Net cash provided by operating activities before changes in operating assets and liabilities was $832 million for first six months of 2015, compared to $1.2 billion for the same period in 2014. For the quarter, the company reported total production of 245 Bcfe against 189 Bcfe a year ago. For the six months, the company’s total production was 478 Bcfe against 371 Bcfe a year ago. The company currently expects its total capital investments for the full year of 2015, excluding the $615 million of acquisition costs and post-closing adjustments for the Appalachia transactions that closed in December 2014 and January 2015, to be approximately $1.9 billion, down from its prior estimate in February 2015 of $2.0 billion.  Based on the strong performance of the portfolio for the first six months, the company has also updated its production guidance for 2015, including the impacts of the reduced capital investment program. The revised total gas and oil production guidance for 2015 of 973 to 982 Bcfe is an increase of approximately 27% over the company's 2014 gas and oil production. Of the company's total expected production in 2015, approximately 462 to 465 Bcf is expected to come from the Fayetteville Shale, approximately 363 to 366 Bcf is expected to come from Northeast Appalachia and 139 to 142 Bcfe is expected to come from Southwest Appalachia.  The 2015 figures include approximately 6 Bcfe of production from the East Texas and Arkoma oil and gas assets, which were divested during the second quarter of 2015.    For the third quarter of 2015, the company expects total production of 246 Bcfe to 250 Bcfe. For the fourth quarter of 2015, the company expects total production of 249 Bcfe to 254 Bcfe. For the second quarter of 2015, the company reported impairment of natural gas and oil properties of $1,535 million.

Southwestern Energy Declares Dividend on Mandatory Convertible Preferred Stock for the Period Beginning on July 15, 2015 and Ending on October 14, 2015, Payable on October 15, 2015

Southwestern Energy Company announced that its Board of Directors declared a quarterly dividend of $15.625 per share on its 6.25% Series B Mandatory Convertible Preferred Stock, payable on October 15, 2015, to holders of record on October 1, 2015. This equates to $0.78125 for each depositary share, which represents a 1/20th interest in a share of the Series B preferred stock. The dividend is for the dividend period beginning on July 15, 2015 and ending on October 14, 2015.

Southwestern Energy Company to Report Q2, 2015 Results on Jul 28, 2015

Southwestern Energy Company announced that they will report Q2, 2015 results at 9:41 PM, GMT Standard Time on Jul 28, 2015

Southwestern Energy Company Presents at EnerCom's Oil & Gas Conference 2015, Aug-18-2015 08:00 AM

Southwestern Energy Company Presents at EnerCom's Oil & Gas Conference 2015, Aug-18-2015 08:00 AM. Venue: The Westin Denver Downtown Hotel, 1672 Lawrence Street, Denver, Colorado, United States.

 

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SWN

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Valuation SWN Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.7x
Price/Book 1.0x
Price/Cash Flow 6.8x
TEV/Sales 0.4x
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