Southwestern Energy Co Stock Price, News & Analysis

Southwestern Energy Company (NYSE: SWN) has announced the commencement of cash tender offers to purchase its outstanding senior notes, namely the 7.50% Senior Notes due 2026 and up to $25 million of the 4.95% Senior Notes due 2025. The offers will expire on September 13, 2021. The company aims to retire debt and is soliciting consents for amendments to the 2026 Notes' indenture, which requires majority approval. The acquisition will be funded through a concurrent debt financing of at least $1 billion, with an estimated $684 million needed for total consideration.

Southwestern Energy Company (NYSE: SWN) announced a successful Exchange Offer, allowing holders to exchange 5.375% Senior Notes due 2029 for new notes issued by Southwestern, totaling $700 million. As of August 13, 2021, approximately $694.96 million of the Indigo Notes were tendered, representing 99.28%. The company received necessary consents for the proposed amendments to the indenture governing the Indigo Notes. The Exchange Offer is part of the ongoing Indigo Merger process aimed at acquiring Indigo Natural Resources, with additional conditions and deadlines detailed in the offering memorandum.

Southwestern Energy Company (NYSE: SWN) announced an exchange offer for its acquisition of Indigo Natural Resources LLC. Holders of Indigo's 5.375% Senior Notes due 2029 can exchange these for new Southwestern notes or cash, with a total consideration of up to $700 million. The offering is linked to a merger agreement and includes a consent solicitation to amend restrictive covenants. The Early Tender Date is set for August 13, 2021, with the Expiration Date on September 1, 2021. The completion of the exchange is subject to various conditions.

Southwestern Energy Company (NYSE: SWN) reported Q2 2021 results with a net loss of $609 million, improved from a $880 million loss in Q2 2020. Adjusted net income reached $129 million, a significant turn from last year's loss. Operational cash flow totaled $270 million, while production was 276 Bcfe. The company has reduced its leverage ratio to 2.6x and plans to ramp up free cash flow in the latter half of 2021. Notably, the acquisition of Indigo is on track, enhancing market position and reducing cost volatility.

Southwestern Energy Company (NYSE: SWN) will host a conference call on July 30, 2021, at 9:30 a.m. CT to discuss its Q2 2021 financial and operating results. Results will be released on July 29, 2021, after market close and will be available on the company’s website. Interested parties can join via the call or listen to the live audio webcast at ir.swn.com. A replay will be accessible until August 27, 2021, through various phone lines. The company focuses on developing energy assets in key shale gas basins.

Southwestern Energy Company (NYSE: SWN) announces the appointment of Carl Giesler Jr. as Executive Vice President and Chief Financial Officer effective July 19, 2021. Previously serving as interim CFO, Michael Hancock will continue in his role as Vice President - Finance & Treasurer. CEO Bill Way expressed confidence in Giesler's strategic perspective to enhance shareholder value, highlighting his extensive experience in the oil and gas sector. Giesler's background includes a role at SandRidge Energy and credentials from the University of Virginia and Harvard Law School.

Southwestern Energy (NYSE: SWN) has secured a deal for independent responsibly sourced gas certification with Project Canary’s TrustWell™ standards, aimed at enhancing emissions monitoring in its Appalachia operations. The certification process commences in July 2021, targeting completion by early 2022, and will increase SWN's certified production to over 3 Bcf per day. SWN has a strong ESG track record, including low GHG intensity and freshwater neutrality, and is positioned as a leading independent producer in the responsibly sourced gas market.

Southwestern Energy (NYSE: SWN) has signed an agreement to obtain independent certification for responsibly sourced gas (RSG) via Project Canary's TrustWell™ standards across its Appalachia basin operations. This collaboration aims to enhance SWN's certified gross production to over 3 Bcf per day. The certification process, commencing in July 2021, is expected to conclude by early 2022. SWN continues to lead in environmental, social, and governance (ESG) performance, having reduced methane intensity significantly and achieved freshwater neutrality for five consecutive years.

Indigo Natural Resources has announced a definitive merger agreement with Southwestern Energy Company (SWN), valued at approximately $2.7 billion. The deal entails $400 million in cash, $1.6 billion in SWN common stock, and $700 million in assumed senior notes due 2029. The merger has received unanimous approval from both companies' boards and is expected to finalize in early Q4 2021, pending regulatory and shareholder approvals. Indigo is a major natural gas producer in the Haynesville Shale.