Southwestern Energy’s 2012 Report: Marcellus Production Up 130%
Southwestern Energy, a major Marcellus Shale driller, issued its 2012 financial and operational update yesterday. Among the highlights: Southwestern spent $507 million on their Marcellus drilling program in 2012, which included drilling and putting into operation 92 wells. Gross production from the company’s operated wells in the Marcellus increased from 133 MMcf per day at the beginning of 2012 to approximately 300 MMcf per day by year-end, and total net production was 53.6 Bcf in 2012, up 130% from 23.4 Bcf in 2011. It’s full speed ahead for Southwestern in the Marcellus Shale.
Here’s portions from yesterday’s update that are relevant to Southwestern’s Marcellus operations: