Southwestern Energy Cutting Rig Count from 6 to 2 in M-U

Yesterday Southwestern Energy, a major Marcellus/Utica driller, released its second quarter 2019 update and talked about the rest of 2019 and beyond. Southwestern total production in 2Q was 186 billion cubic feet equivalent (Bcfe), an 11% increase compared to 2Q18 (excluding the Fayetteville, which Southwestern sold last year to become 100% focused on the M-U). That 186 Bcfe number includes 148 Bcf of gas production, 937,000 barrels of oil production, and 5.5 million barrels of natural gas liquids (NGL) production.

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