Summary: Southwestern Energy Co. Apr 10
Standard & Poors, April 2010
Abstract
The ratings on Southwestern Energy Co. reflect the company's good internal growth prospects, strong financial measures for the rating and a competitive cost structure. The rating also reflects the fact that the company will outspend cash flow by a wide margin this year, during a period of weak natural gas prices. As of Dec. 31, 2009, Southwestern's proved reserves totaled 3.7 trillion cubic feet equivalent (100% natural gas; 54% proved developed). The company's fair business risk profile reflects its significant geographic concentration in the Fayetteville Shale in Arkansas; this field currently generates more than 80% of companywide production. In the fourth quarter of 2009, average daily production was close to 1 billion cubic feet per day (Bcfe) nearly all of...
Companies mentioned in this report are: Southwestern Energy Co.
Action: Review
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Southwestern Energy Co.
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