Southwestern Energy Buys 2nd Haynesville Driller for $1.85B

Nearly two weeks ago MDN brought you the news that Southwestern Energy was in talks to buy a second (for them) Haynesville driller, GeoSouthern, for $1.7 billion (see Southwestern in Advanced Talks to Buy 2nd Haynesville Driller for $1.7B). Yesterday Southwestern announced it has struck a deal for $1.85 billion to buy GeoSouthern (technically a subsidiary called GEP Haynesville). When the deal is done, by the end of this year, GEP will add another 700 MMcf/d (million cubic feet per day) to Southwestern's already hefty production. The new flows will boost Southwestern production to 4.7 Bcf/d (billion cubic feet per day). They will be within striking range of EQT. Might Southwestern overtake EQT as the largest natural gas producer in the country? It's fun to ponder!

---

To view this content, log into your member account. (Not a member? Join Today!)