Southwestern Energy Company - SWN STOCK NEWS

Chesapeake Energy (NASDAQ: CHK) and Southwestern Energy Company (NYSE: SWN) have announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for their pending combination has expired. The merger is expected to close in the first week of October. Upon completion, the combined company will be renamed Expand Energy and will trade on NASDAQ under the ticker symbol 'EXE'.

The merger will create the largest natural gas producer in the U.S. Nick Dell'Osso, Chesapeake's President and CEO, emphasized the company's unique position to compete internationally and expand America's energy reach with its premium scaled position across leading natural gas basins, peer-leading returns program, and resilient financial foundation.

Southwestern Energy Company (NYSE: SWN) reported its Q2 2024 financial results. The company generated $291 million in net cash from operating activities, but recorded a net loss of $608 million. Adjusted net income was $113 million, with adjusted EBITDA at $413 million. Total net production reached 379 Bcfe, or 4.2 Bcfe per day. The company invested $430 million in capital and placed 22 wells to sales. SWN's weighted average realized price was $2.35 per Mcfe, including derivatives. The company is adjusting its activity in response to commodity prices while optimizing productive capacity within annual cash flow. As of June 30, 2024, SWN had total debt of $4.2 billion and a net debt to adjusted EBITDA ratio of 2.1x.

Southwestern Energy Company (NYSE: SWN) has announced that it will release its second quarter financial results on August 1, 2024, after the market closes. The results will be available on the company's website at www.swn.com. Notably, Southwestern will not host a conference call or webcast to discuss these results due to its pending merger with Chesapeake Energy . This decision marks a departure from the typical practice of holding earnings calls, likely due to the ongoing merger process.

Southwestern Energy Company (NYSE: SWN) announced financial results for the first quarter of 2024, revealing a net loss of $1.5 billion but $131 million adjusted net income. They reported total net production of 376 Bcfe, invested $538 million in capital, and placed 18 wells to sales. The company plans to align activity and capital with expected cash flow for 2024.

Southwestern Energy (SWN) has scheduled the release of its first-quarter financial results for May 2, 2024, after the market closes. The company will not host a conference call or webcast due to the pending merger with Chesapeake Energy

Southwestern Energy (SWN) announced strong financial results for Q4 and full-year 2023, with notable figures like $2.5 billion net cash from operations, $1.6 billion net income, and $744 million adjusted net income. The company ended the year with total debt of $4.0 billion, produced 1.7 Tcfe, and invested $2.1 billion in capital. Despite challenges like a decrease in realized prices, Southwestern Energy focused on debt reduction and operational efficiency.

Southwestern Energy Company (NYSE: SWN) will release fourth quarter financial results on February 22, 2024, after market close. The results will be available on Southwestern’s website at www.swn.com. Due to the pending merger with Chesapeake Energy Corporation, there will be no conference call or webcast to discuss fourth quarter 2023 results.

Chesapeake Energy Corporation (CHK) and Southwestern Energy Company (SWN) have agreed to merge in an all-stock transaction valued at $7.4 billion, creating a premier energy company with a leading natural gas portfolio, operational and overhead synergies of approximately $400 million, and a global platform to expand marketing and trading business. The combined company will have a new name, be headquartered in Oklahoma City, and will be uniquely positioned to deliver affordable, lower carbon energy to meet growing domestic and international demand.

Southwestern Energy Company (NYSE: SWN) and its midstream provider, Energy Transfer LP (NYSE: ET), have agreed to dedicate CO2 from Haynesville natural gas processing to sequestration in CapturePoint's Central Louisiana Regional Carbon Storage Hub. CapturePoint's CEO Tracy Evans highlighted the project's innovation and potential to become one of the largest onshore CO2 storage centers in the United States. The company has confirmed the capacity to absorb more than a billion tons of CO2 and filed permit applications for Class VI carbon sequestration injection well sites in the CENLA Hub. Southwestern Energy President Bill Way emphasized the commitment to reducing CO2 emissions in the Haynesville basin, with early support from Energy Transfer and plans to engage other producers in the region. CapturePoint LLC, based in Allen, Texas, focuses on carbon management services in an era of energy transition.