logo
Plus   Neg
Share
Email
Comment

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Tech giants Amazon.com, YouTube and Twitter as well as Verizon Communications are exploring bids for digital streaming rights to the National Football League or NFL's Thursday Night Football package, according to media reports. The NFL is likely to strike a multi-year deal for the digital streaming rights. However, the television audience for the NFL has declined for two consecutive years. Wynn Resorts Ltd. said Friday that former Chief Executive Officer Steve Wynn is not entitled to any severance payment of other compensation from the company. Wynn resigned last week as CEO and Chairman of the board following allegations of sexual misconduct. In a regulatory filing, Wynn Resorts said it entered into a separation agreement between Steve Wynn, and Wynn Resorts Holdings LLC. Beverages giant Coca-Cola Company on Friday reported a net loss for the fourth quarter, reflecting a one-time charge related to the U.S. tax reform and a double-digit decline in revenues. However, adjusted earnings per share matched analysts' expectations, while revenues beat their estimates. The company's shares are rising more than 2 percent in pre-market activity.
comments powered by Disqus
Follow RTT