Southwestern Energy Co. (SWN): Fayetteville Shale Update

By Andrea: http://oilshalegas.com

Southwestern Energy Co. (SWN) recently announced its planned capital investment program and guidance for 2011. The company's total capital investment program in 2011 is planned to be approximately $1.9 billion, attributing much of that to the Fayetteville Shale.

"Our large inventory of high-return wells in the Fayetteville Shale gives us the ability to have profitable growth in today's price environment and our economies of scale in the play enable us to enjoy one of the lowest cost structures in the industry. The continued focus on keeping our costs low and adding the maximum value for each dollar we invest are the keys to success in 2011," stated Steve Mueller, President and Chief Executive Officer of Southwestern Energy.

"Our 2011 capital investment program continues to be dominated by our position in the Fayetteville Shale. Our plan for the Fayetteville Shale during the year is to transition from earning our acreage position by drilling first wells in new sections and optimizing well spacing to more drilling on multi-well pads which will result in faster drilling times. We currently plan to start the year with 13 operated horizontal rigs in the Fayetteville Shale and exit the year drilling with 11 rigs...."
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