Southwestern No Longer M-U Pure-Play, Buys Haynesville Driller $2.7B
The trend is disturbing--at least for us. Increasingly companies that were formerly focused 100% on the Marcellus/Utica region are now expanding beyond--often in the Haynesville Shale of Louisiana. Let's face it: Louisiana (and eastern Texas) where the gassy Haynesville is found has several advantages over the M-U, including closeness to Gulf Coast petrochemical plants, better (lower) taxes, and far more favorable (less burdensome) regulations than M-U states. Southwestern Energy (SWN), which recently bought out and merged in Montage Resources (another M-U driller) is now buying out and merging in Indigo Natural Resources--in the Haynesville Shale.
To view this content, log into your member account. (Not a member? Join Today!)