- Southwestern Energy (SWN +19%) surges after reporting a solid Q4 earnings beat and an 18% Y/Y revenue increase, plus record exit-rate production from the Appalachian Basin.
- SWN says FY 2017 total net production was 897B cfe, including 578B cfe from the Appalachian Basin with record gross operated 2017 exit rate production of 2.35B cfe/day, a 40% increase vs. year-end 2016.
- Year-end total proved reserves reached a record 14.8T cfe (75% natural gas and 25% natural gas liquids and condensate), including 11.1T cfe from the Appalachian Basin, up a respective 181% and 393% Y/Y.
- Net cash provided by operating activities in FY 2017 totaled $1.1B, up 120% Y/Y, and net cash flow was $1.14B, up 76% Y/Y.
- SWN says its focus in 2018 will be on exploring strategic alternatives for its Fayetteville shale assets while accelerating development in Appalachia.
- Now read: Southwestern Energy (SWN) Presents At 23rd Annual Credit Suisse (SIX:CSGN) Energy Summit - Slideshow
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