Southwestern Energy plans to keep spending flat, even with acquisition of Montage
Monday, March 8, 2021
Southwestern Energy Co. plans to keep year-over-year spending and production flat in 2021, even with the acquisition of Montage Resources Corp., according to Natural Gas Intelligence.
Joining many other production and exploration companies, Southwestern focused its plan for 2021 on prioritizing free cash flow generation, “disciplined investment” at maintenance levels and debt reduction.
The announcement comes shortly after the company acquired Montage and gained a foothold in Ohio, making it the third-largest oil and gas producer in the Appalachian Basin with more than 1 Tcfe of production anticipated this year. Southwestern’s acquisition of Montage adds to its core areas in Northeast Pennsylvania and northern West Virginia.
Learn more: Natural Gas Intelligence > Southwestern Drills First Ohio Utica Well after Montage Acquisition
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