Monday, December 27, 2010

Southwestern Energy Co. (SWN): Marcellus Shale Update

By Andrea:

Southwestern Energy Co. (SWN) recently released an operational update on their Marcellus Shale assets located in Pennsylvania:

In the Marcellus Shale play in Pennsylvania, the company plans to begin the year drilling with one operated rig and end the year with two operated rigs. Southwestern plans to participate in a total of 40 to 45 gross wells, all of which will be operated.

"We are currently operating one rig in the Marcellus Shale and will increase to two rigs by year-end 2011. As a result, our 2011 production is expected to be in a range of 465 to 475 Bcfe, which is an increase of approximately 18% compared to our expected 2010 levels."

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