SOUTHWESTERN ENERGY CO
swn.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 1, 2024. Its latest SEC filing is a 15-12G from Oct 11, 2024.
10-Q for Q2 FY2024, filed Aug 1, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Develops and produces natural gas, oil and natural gas liquids, and markets those products for energy companies, utilities and industrial buyers.
10-K for FY2023, filed Feb 22, 2024Southwestern Energy Company (including its subsidiaries, collectively, “we”, “our”, “us”, “the Company” or “Southwestern”) is an…View ↗
Our primary business is the development, exploration and production of natural gas as well as associated NGLs and oil in our core positions…View ↗
The Company sells the vast majority of its E&P natural gas, oil and NGL production to third-party customers through its marketing…View ↗
How Did They Make Money?
Customers pay for natural gas, oil and natural gas liquids when each delivery reaches the designated point; the marketing business also bills monthly as it delivers products, with payment typically due within 30 to 60 days.
10-K for FY2023, filed Feb 22, 2024
-
10-K for FY2023, filed Feb 22, 2024
FY2023 revenue by product or service ↗
$6.5B
-
10-K for FY2023, filed Feb 23, 2024
$6.5B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Gas sales
Sold outright
10-K for FY2023, filed Feb 22, 2024 |
47%
FY2020: 42%
|
Gas sales, FY2023
$3.1B Sources
|
Sold outright |
|
Oil sales
Sold outright
|
5.8%
FY2020: 6.7%
|
Oil sales, FY2023
$379M Sources
|
Sold outright |
|
NGL sales
Sold outright
10-K for FY2023, filed Feb 22, 2024 |
11%
FY2020: 11%
|
NGL sales, FY2023
$702M Sources
|
Sold outright |
|
Marketing
Sold outright
10-K for FY2023, filed Feb 22, 2024 |
36%
FY2020: 40%
|
Marketing, FY2023
$2.4B Sources
|
Sold outright |
|
Other
|
−0.1%
FY2020: 0.2%
|
Other, FY2023
−$3M Sources
|
Who Were Their Customers?
Major energy companies, utilities and industrial buyers purchase the company's production, with most exploration and production sales made to third-party customers through its marketing subsidiary.
10-K for FY2023, filed Feb 22, 2024The Company sells the vast majority of its E&P natural gas, oil and NGL production to third-party customers through its marketing…View ↗
10-K for FY2023, filed Feb 22, 2024
The Company sells the vast majority of its E&P natural gas, oil and NGL production to third-party customers through its marketing…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 24 cents of every revenue dollar as net income in FY2023.
10-K for FY2023, filed Feb 23, 2024
How Were They Changing?
- Net income
-
Sources
10-Q for Q2 FY2024, filed Aug 2, 2024
−$608MView ↗
- ▼ Now a loss
- vs $231M in Q2 FY2023
10-Q for Q2 FY2024, filed Aug 1, 2024
Open tableView ↗
-
Oct 1, 2024
Southwestern completed its merger with Chesapeake and became a wholly owned subsidiary.
Southwestern's shares were delisted, and the combined company was rebranded Expand Energy.
Sources
8-K, filed Oct 1, 2024
As discussed in the Introductory Note to this Current Report on Form 8-K, on October 1, 2024, Southwestern completed its previously…View ↗
Grew. Revenue grew 2.1x in 4 years, from $3B in FY2019 to $6.5B in FY2023, about 21% a year.
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