Southwestern Energy
NYSE:SWN
$41.18  0.73
08.29.14 4:06 ET
Delayed 20 minutes
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July 2, 1929

Arkansas Western Gas Company (AWG) is incorporated in Arkansas with the primary purpose of providing natural gas to northwest Arkansas. The company operates as a subsidiary of Southern Union Gas Company of Dallas.

February 21, 1930

Natural gas is officially available in northwest Arkansas through an eight-inch main line.

1940s

AWG separates from the corporate ownership of Southern Union Gas Company and becomes an independent utility operation. The company begins a drilling program and completes its first discovery well in the White Oak Field in Franklin County, Ark., on May 14, 1943.

Transmission and distribution lines begin serving the Harrison, Ark. district. By the end of 1947, 14 wells in the White Oak Field – 10 owned by AWG and four owned by other operators – had an initial daily open flow capacity of 196 MMcf.

1950s

Arkansas Western Gas opens its first compressor station, moving away from a reliance on well pressure to move natural gas through the company’s transmission lines.

Arkansas Western Gas forms its first subsidiary – Arkansas Western Production Company – with the purpose of exploring for and producing natural gas and oil.

1960s

AWG sells 50,000 shares in its first public offering of common stock.

The company drills its largest well ever with the completion of the Hillard Jackson No. 1 Well, which had an initial open flow of 40 MMcf of gas per day.

1970s

AWG surpasses 50,000 customers. The company also expands its exploration and drilling program into Oklahoma.

In 1978, AWG announces plans to reorganize with subsidiaries operating under the name "Southwestern Energy Company". The change becomes effective on Oct. 1, 1979, just a few months after the company’s 50th anniversary. The utility operations are established in a new subsidiary named “Arkansas Western Gas Company”. In connection with the reorganization, SEECO Inc., a subsidiary operating exclusively in Arkansas, is organized with the primary purpose of natural gas exploration and Arkansas Western Production Company continues the company’s development efforts in Oklahoma.

1980s

Arkansas Western Production Company changes its name to Southwestern Energy Production Company (SEPCO).

On December 10, 1981, Southwestern Energy Company is listed on the New York Stock Exchange under the symbol "SWN".

1990s

Construction begins on the $100 million NOARK Pipeline System, which will span 300 miles and 14 Arkansas counties and is initially majority owned by Southwestern Energy Company.

2000

Southwestern Energy purchases nearly 11,000 acres in the Overton Field located in East Texas and begins a multi-rig, multi-well drilling program to produce natural gas from this overlooked field.

2001

Southwestern Energy relocates its headquarters to Houston, Texas.

2003

On February 27, 2003, Southwestern Energy completes a secondary offering of its common stock with proceeds of approximately $109 million. The proceeds are used to accelerate the development of the Overton Field located in East Texas.
The company invests $11 million to purchase 343,000 undeveloped acres in an undisclosed area. This marked the beginning of the Fayetteville Shale play.

2004

Southwestern Energy announces it has accumulated 575,000 net acres in the new Fayetteville Shale play.

The Southwestern Energy-operated Thomas 1-9 well in Conway County, Ark., begins producing from the Fayetteville Shale.

Southwestern Energy invests about $28 million for leases and the drilling of 21 test wells in the Fayetteville Shale area.

2005

Fayetteville Shale area development continues to ramp up as the company invests about $155 million in the play, which includes drilling 67 wells. The company also founds DeSoto Drilling Inc., which owns and operates drilling rigs for the company’s operations.
We also form Southwestern Midstream Services Company (SMS) as the holding company for our marketing subsidiary, SES, and our gathering subsidiaries, DeSoto Gathering Company, L.L.C., which was formed in 2004 to engage in gathering activities related to the development of the Fayetteville Shale play, and Angelina Gathering Company L.L.C., which is also formed in 2005. SMS generates revenues through the marketing of our own and third-party natural gas and from gathering fees associated with transportation of gas to market.

2006

Southwestern Energy’s gross operated gas production from the Fayetteville Shale play reaches 100 MMcf per day, the first of many milestones to come.
Southwestern Energy divests its interests in the NOARK Pipeline System.

2007

Southwestern Energy’s gross operated production surpasses 300 MMcf per day from the Fayetteville Shale play.

2008

The Arkansas Community Foundation and Arkansas Business names Southwestern Energy Company the 2007 Philanthropic Corporation of the Year. Oil and Gas Investor Magazine also names it 2007 Corporate Citizen of the Year.
Southwestern Energy sells AWG in order to focus on the exploration and production of natural gas.
Steven L. Mueller appointed President and Chief Operating Officer.
Southwestern Energy’s gross operated production tops 500 MMcf per day from the Fayetteville Shale play.
Southwestern Energy announces it will build a new regional headquarters in Conway, Arkansas.

2009

Steven L. Mueller promoted to Chief Executive Officer.
Southwestern Energy's gross operated production exceeds 1 Bcf per day from the Fayetteville Shale play during July 2009.

2010

Harold Korell retires as Executive Chairman of the Board.
Southwestern Energy announces exploration program in New Brunswick, Canada.

2011

Southwestern Energy announced it had begun testing in a new unconventional horizontal oil play, the Lower Smackover Brown Dense formation, in southern Arkansas and northern Louisiana.
The company hires William J. Way as Executive Vice President and Chief Operating Officer.
Daily gross operated production in the company’s Marcellus Shale area reaches approximately 133 MMcf per day.

2012

Southwestern Energy’s gross operated production exceeds 2 Bcf per day from the Fayetteville Shale play.
Greg Kerley retires as Executive Vice President and Chief Financial Officer.
Craig Owen promoted to Chief Financial Officer.
Daily gross operated production in the company’s Marcellus Shale area reaches over 300 MMcf per day.

2013

Southwestern becomes the fourth largest producer of natural gas in the US Lower 48.
Gross operated production from the Marcellus Shale reaches nearly 700 MMcf per day.
Cumulative gross operated production from the Fayetteville Shale surpasses 3 Tcf.