Summary: Southwestern Energy Co. Nov 05
- ID: 2083611
- November 2005
- Standard & Poors
The ratings on Southwestern Energy Co. reflect its participation in the highly competitive, cyclical, and capital-intensive exploration and production (E&P) segment of the oil and natural gas industry, competitive cost structure, and good reserve life. In addition, market volatility is somewhat offset by a substantial hedging program and the free cash flow provided by Southwestern's natural gas utility, Arkansas Western Gas Co., which accounts for about 7% of operating income. Southwestern had year-end 2004 proved reserves of 646 billion cubic feet equivalent (93% natural gas, 83% proved developed), which are onshore primarily in East Texas (47%), the Arkoma Basin (38%), Permian Basin (9%), and Gulf Coast (6%). Standard & Poor's Ratings Services considers Southwestern's business risk profile as fair, reflecting...
Companies mentioned in this report are:
- Southwestern Energy Co.
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