Southwestern Energy on a Tear – Doubles Marcellus Budget for 2015
Southwestern Energy is on a tear in the Marcellus/Utica region. In 2014, the company picked up 413,000 acres and some 1,500 wells from Chesapeake Energy for $4.975 billion and paid another $394 million to Statoil as part of that same deal (to get more ownership of the jointly-owned acreage); Southwestern purchased all of WPX’s acreage–46,700 acres and 63 Marcellus Shale wells–in northeast Pennsylvania for $300 million; and Southwestern cut a deal with DTE Energy to significantly expand their pipeline gathering system in northeast PA. They’ve also been busy in several other shale plays. On Monday, Southwestern issued a company update and guidance for 2015. The very notable thing about that update: Southwestern, contrary to almost every other major and minor shale player, is increasing spending on shale drilling in 2015, by $200 million…
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Yes it’s trite, yes it’s overdone, yes it’s a lazy way for an editor to gin up another story (aren’t you glad we’re honest?)…but we’ll do it anyway. MDN wondered, of the 2,500+ stories we published in 2014, which ones garnered the most views? Bear in mind that non-paying readers sometimes read entire articles (if they find them via a Google search). So we looked at overall, for paying and non-paying readers, what caught your interest in 2014? Here’s the top 15 most-read stories in 2014…