Southwestern Energy focuses on Marcellus, Utica shale plays
Monday, September 10, 2018
Southwestern Energy Co. is selling core assets in Arkansas to Flywheel Energy LLC as it focuses on drilling in the Marcellus and Utica shale plays, according to the Midland Reporter-Telegram.
The sale is valued at nearly $1.9 billion and includes 915,000 acres and more than 4,000 operating wells in the Fayetteville Shale, which stretches across the Arkansas border into Oklahoma.
The purchasing company, Flywheel, was founded last year with the financial backing of the Los Angeles private equity firm Kayne Anderson Capital Advisors. The deal is expected to close in December.
Learn more: Midland Reporter-Telegram > Southwestern Energy selling Arkansas shale for $1.9B
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