Southwestern Energy sells oil and gas assetsStaff writer ▼ | March 23, 2015
Southwestern Energy Company has executed a definitive agreement with a private buyer to sell Southwestern Energy's conventional oil and gas assets located in East Texas and the Arkoma Basin for approximately $218 million.
Oil and gas industry East Texas and the Arkoma Basin
"Combined with the already announced divestiture of our northeast Pennsylvania gathering system, this transaction achieves the net divestiture proceeds targeted as part of the acquisition financing plan," remarked Steve Mueller, chairman and chief executive officer of Southwestern Energy.
"With the acquisition financing now complete, we will continue our focus on extracting the long-term value from our premier assets for our shareholders for years to come." ■