logo
Plus   Neg
Share
Email

Southwestern Energy To Pursue Strategic Alternatives For Fayetteville Shale E&P

Southwestern Energy Company (SWN) announced several strategic steps to strengthen its balance sheet and enhance its financial performance. The initiatives are: actively pursue strategic alternatives for the Fayetteville Shale E&P and related midstream gathering assets; identify and implement structural, process and organizational changes to further reduce costs; and utilize funds realized from the foregoing to reduce debt, supplement Appalachia development capital, potentially return capital to shareholders, and for general corporate purposes.

"These announced initiatives continue a series of strategic actions that began in early 2016 to reposition our company to compete and win in the future. The future success of Southwestern Energy will always be underpinned by the legacy of our Fayetteville asset and our employees who will continue to build on that foundation," said Bill Way, President and CEO.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Automaker Ford Motor Co. and retail giant Walmart said Wednesday that they are collaborating to explore delivery of grocery and other goods using self-driving vehicles. The companies will partner with San Francisco-based delivery service Postmates to design a service for autonomous-vehicle delivery of goods. Walmart noted that in Miami, Postmates already serves as it's delivery partner. Financial services firm American Express or Amex has filed a patent for a blockchain-based system that can match the images of a receipt with stored records. According to a U.S. Patent and Trademark Office or USPTO patent filing, named "Linking digital images with related records", the system offers a new method to receive, record and transmit images of receipts. Merck KGaA reported Wednesday a sharp decline in its third-quarter profit, while sales increased despite negative currency impacts. Further, the German drugmaker lowered its fiscal 2018 forecast for EBITDA pre, but confirmed organic EBITDA pre view. The company also lifted its organic net sales growth forecast.
Follow RTT