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.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Member of Congress have reportedly been told President Donald Trump's administration has reached an agreement to put Chinese telecom giant ZTE Corp. back in business. Reports from the New York Times and Reuters said the deal brokered by the Commerce Department would require ZTE to pay a substantial... Delta Air Lines will resume non-stop flights between the U.S. and India next year, almost a decade after it exited the Indian market. The airline said Thursday that its decision to resume non-stop flights from the U.S. to India follows agreements between the U.S. and the governments of the United Arab Emirates and Qatar to address the issue of government subsidies provided to state-owned carriers. Mortgage rates continued their upward trend this week and hit a seven-year high, even as housing demand remained robust. According to data released Thursday by mortgage finance provider Freddie Mac, the 30-year fixed-rate mortgage rose to 4.66 percent in the week ending May 24, from 4.61 percent in the prior week and 3.95 percent a year ago. This is also the highest level since May 5, 2011.
Follow RTT