Southwestern Buying Back $1 Billion of Stock Shares by End 2023
The board of directors at Southwestern Energy Company voted to authorize the company to buy back $1 billion of its own stock. The buyback program will run from now until the end of 2023. The aim of stock buyback programs, as well as dividends, is to put more money into the pockets of investors. In the case of a stock buyback, each outstanding share (after the buyback) becomes a little more valuable. Southwestern is attempting to make its stock attractive for investors. This morning SWN share prices were trading around $6.91, up 47% year-to-date. On June 1 it was higher–trading at $9.64.
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President Joe Biden is getting grumpy and thin-skinned in his old age. He thinks oil drillers and refineries should get up and tap dance on cue when he says so, even though he wants to bankrupt them and put them out of business a few years down the road. Leftwing media is catching on that the Bidenistas can’t demand more output now, requiring investments in the billions, while sending the loud message the same companies will be out of business in a few years as renewable nirvana takes hold (see 
Tug Hill Operating is focused on acquiring, exploring, developing, and producing oil and natural gas in the onshore U.S. with a primary focus on the Marcellus Shale in the Appalachia Basin (Southwest Appalachia in West Virginia, and Northeast Appalachia in Pennsylvania), Eagle Ford Shale in South Texas, Niobrara Shale in the Rockies region, and other select basins and formations. According to sources speaking with Reuters, Tug Hill is looking to divest its West Virginia assets for $5 billion.
Wrapping up the coverage of the recent Hart Energy DUG East Conference, Pittsburgh Business Times reporter Paul Gough pulled together comments by various speakers on the topic of LNG and whether or not the Marcellus/Utica can and will benefit from a growth in American LNG exports. Opinions by some of the biggest drillers in the M-U diverged on this topic.
In March the U.S. Securities and Exchange Commission (SEC), corrupted by the Bidenistas, said it will begin to force all publicly traded companies to disclose their so-called greenhouse gas (GHG) emissions and the imaginary climate risks their businesses face (see 
PennEnergy Resources recently reapplied (for a second time) for a permit to draw water from Big Sewickley Creek–but this time the request is cut in half, to just 1.5 million gallons of water a day (see 
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The Marcellus/Utica is still struggling to get permit numbers into higher brackets. Three weeks ago a pathetically low six new permits were issued to drill shale wells across Pennsylvania, Ohio, and West Virginia (see 
Here’s some major news that we confess we somehow missed back in March. Greylock Energy, which is headquartered in Charleston, WV, and has (until recently) been a pure-play natural gas driller in the Marcellus/Utica, now owns assets and drills for oil (and gas) in Utah and Wyoming. Kyle Mork, president and CEO of Greylock Energy, addressed Hart Energy’s DUG East conference in Pittsburgh yesterday. He talked extensively about Greylock’s decision to “go West young molecule” (our words). Why the Uinta and Green River Basin? Why now?
Among the speakers who addressed the conference delegates at Hart Energy’s DUG East conference on Tuesday was Chesapeake Energy COO Josh Viets. He traced the roots of the current energy crisis back to decisions and events some 20 years ago. Viets said, “Access to energy correlates to quality of life, and the industry has a responsibility to work to provide energy that is affordable, reliable and low-carbon.” Europe, said Viet, dropped the ball beginning 20 years ago by buying into the hype about so-called renewable energy and forsaking fossil fuel development, while the U.S. invested in fracking and fossil fuels, leading to our energy independence under Donald J. Trump.
Southwestern Energy yesterday announced a multi-year, certified Responsibly Sourced Gas (RSG) sales agreement to the North American subsidiary of Uniper, one of Germany’s largest publicly listed energy supply companies. Uniper will use the RSG gas it buys from Southwestern to resell to its customers here in the U.S., as well as send some of it to LNG export facilities where it will find its way to other countries, primarily in Europe. The molecules for the RSG agreement will come from both the Marcellus/Utica and from Southwestern’s newest plaything–the Haynesville Shale.
In early 2018, the Pennsylvania Dept. of Environmental Protection (DEP) collected a whopping $1.7 million fine from Energy Corporation of America (ECA) for violations at 17 well sites in Cumberland, Jefferson, and Whiteley Townships in Greene County, and Goshen Township in Clearfield County (see 
CNX Resources recently announced a couple of shuffles among senior management. Don Rush, CNX’s Chief Financial Officer, has become the company’s first Chief Strategy Officer (CSO). Alan Shepard, Vice President and Chief Accounting Officer, was promoted to the role of CFO. Both men have and will continue to work closely together. Rush is a CNX cheerleader and says there is “no reason” why CNX can’t be “leading the charge” in the coming energy transition. Rush says, “We’ve got an ocean of possibilities” in referring to the company’s future prospects with natural gas and hydrogen.