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Domestic gas prices have fallen 27 percent since this time last year, squeezing cash flows for shale gas drillers like Southwestern.
Southwestern Energy Co. has picked top lieutenant Bill Way to be its new chief executive, as outgoing CEO Steven Mueller prepares to retire later this year.
Claims against the companies include fraud, violation of the Arkansas Deceptive Trade Practices Act and civil conspiracy.
A $32 billion operating cash shortfall and persistent low oil prices will probably force big shale drillers to announce billions in oil field impairments and spending cuts in third-quarter earnings reports this week.
Southwestern Energy Co. lost $1.77 billion in third-quarter profits as it cut down its property values.
The charitable foundation that is a legacy of George Mitchell, the “father of fracking,” has endorsed the proposed methane rules.
Natural gas producer Southwestern Energy will sell its gathering assets in Pennsylvania for $500 million, the company announced Thursday morning.
Firms like Continental Resources, Apache Corp., ConocoPhillips and Marathon Oil have all announced big cuts this winter to their planned capital expenditures.
Gas prices collapsed two years ago had have remained low since, prompting some drillers to turn their focus to more lucrative regions rich in oil and other liquids.
Southwestern Energy Co. is planning to pay $300 million for thousands of acres in a natural gas-rich region of Pennsylvania, little more than six weeks after its multibillion-dollar purchase of gas land nearby.