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Summary: Southwestern Energy Co. Nov 05

  • ID: 2083611
  • November 2005
  • Standard & Poors

FEATURED COMPANIES

  • Newfield Exploration Co.
  • Noble Energy Inc.
  • Southwestern Energy Co.
  • Wal-Mart Stores Inc.
  • XTO Energy Inc.
  • MORE

Abstract
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.
- Noble Energy Inc.
- Wal-Mart Stores Inc.
- XTO Energy Inc.
- Newfield Exploration Co.

Action: Review

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Note: Product cover images may vary from those shown

- Southwestern Energy Co.
- Noble Energy Inc.
- Wal-Mart Stores Inc.
- XTO Energy Inc.
- Newfield Exploration Co.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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