Southwestern Energy’s third quarter 2018 update on Friday showed the company hitting a new record-high for production. While Cabot Oil & Gas’ production is 100% natural gas (dry gas at that), Southwestern has a mix. The jump in production–to an average of 2.77 billion cubic feet equivalent per day (Bcfe/d)–is largely due to an increase in wet gas (NGL) production. CEO Bill Way said he expects “liquids production” will represent one-third of the revenue the company receives in 2018. Although Way says the company experienced an “outstanding quarter both financially and operationally,” we do have to point out they lost $29 million during 3Q18.
Southwestern Energy’s third quarter 2018 update on Friday showed the company hitting a new record-high for production. While Cabot Oil & Gas’ production is 100% natural gas (dry gas at that), Southwestern has a mix. The jump in production–to an average of 2.77 billion cubic feet equivalent per day (Bcfe/d)–is largely due to an increase in wet gas (NGL) production. CEO Bill Way said he expects “liquids production” will represent one-third of the revenue the company receives in 2018. Although Way says the company experienced an “outstanding quarter both financially and operationally,” we do have to point out they lost $29 million during 3Q18.