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NYSE:SWN
$41.08  -0.26
07.30.14 4:05 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, 2013, had 292,446 net acres in Pennsylvania. Southwestern’s undeveloped acreage was obtained at an average cost of approximately $1,232 per acre. 

 
As of December 31, 2013, Southwestern had spud 269 wells operated by the Company, 172 of which were on production and 261 of which will be horizontal wells. In 2013, Southwestern invested approximately $872 million in the Marcellus Shale and spud 108 operated wells, resulting in reserve additions and revisions of 1,297 Bcf. Of these 108 horizontal wells, 57 wells are located in Southwestern’s Price and Range Trust areas in Susquehanna County, 43 wells are located in the Greenzweig area in Bradford County, 6 wells are located in Lycoming County, and the remaining 2 wells are located in Sullivan County. In 2013, Southewstern’s operated horizontal wells had an average completed well cost of $7.0 million per well, average horizontal lateral length of 4,982 feet and an average of 18 fracture stimulation stages.

In 2014, Southwestern plans to invest approximately $760 million in the Marcellus Shale and expects to participate in a total of 80 to 85 gross wells in 2014, the vast majority of which will be operated by Southwestern. In 2014, Southwestern estimates that net production from the Marcellus Shale will be in the range of 244 to 249 Bcf.

Last Updated on 02/28/2014
 
Acreage: 
292,446 net acres (at 12/31/13)
2013 Reserves:
1,963 Bcfe (28% of total)
2013 Production: 
151 Bcfe (23% of total)
Geologic profile:
A Devonian-age black shale approximately 600 miles in length