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NYSE:SWN
$22.17  0.13
07.02.15 4:02 ET
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Marcellus Play Operations
 
The Devonian-aged Marcellus Shale runs about 600 miles across Pennsylvania. Southwestern began leasing in northeastern Pennsylvania in 2007 and at December 31, 2014, had 266,073 net acres in Pennsylvania. Southwestern’s undeveloped acreage was obtained at an average cost of approximately $1,189 per acre. 

 
As of December 31, 2014, Southwestern had spud 376 wells operated by the Company, 255 of which were on production and 367 of which are horizontal wells. In 2014, Southwestern invested approximately $695 million in Northeast Appalachia and spud 99 operated wells and acquired an additional five horizontal and two vertical wells, resulting in reserve additions and revisions of 1,483 Bcf. Of these 104 horizontal wells, 61 wells are located in Susquehanna County, 32 wells are located in Bradford County, 4 wells are located in Lycoming County, 3 wells are located in Tioga County, 3 wells are located in Wyoming County and the remaining one well is located in Sullivan County. In 2014, Southwestern’s operated horizontal wells had an average completed well cost of $6.1 million per well, average horizontal lateral length of 4,752 feet and an average of 15 fracture stimulation stages.

In 2015, Southwestern plans to invest approximately $700 million in Northeast Appalachia and expects to participate in a total of 88 to 92 gross wells, the vast majority of which will be operated by Southwestern. In 2015, Southwestern estimates that net production from Northeast Appalachia will be in the range of 356 to 361 Bcf.

Last Updated on 06/04/2015
 
Acreage:
312,773 net acres (January 2015)*
2014 Reserves:
3,192 Bcf (30% of total)
2014 Production:
254 Bcf (33% of total)
Geologic profile:
A Devonian-age black shale approximately 600 miles in length
* Includes approximately 46,700 net acres that were acquired as part of a transaction closed January 2015.