Southwestern Energy, one of the largest drillers in the Marcellus with 480,000 acres under lease, turned in their first quarter 2019 update last week. It was the company’s first update since becoming a pure play operator, totally focused on the Marcellus/Utica region. What did it show? Net income nearly tripled to $594 million (vs. 1Q18’s $205 million). Production averaged 2.0 billion cubic feet equivalent per day (Bcfe/d), close to what the prolific Cabot produced in 1Q19.
Southwestern Energy, one of the largest drillers in the Marcellus with 480,000 acres under lease, turned in their first quarter 2019 update last week. It was the company’s first update since becoming a pure play operator, totally focused on the Marcellus/Utica region. What did it show? Net income nearly tripled to $594 million (vs. 1Q18’s $205 million). Production averaged 2.0 billion cubic feet equivalent per day (Bcfe/d), close to what the prolific Cabot produced in 1Q19.