Houston-based Southwestern Energy Co. is the runaway top producer in Arkansas’ Fayetteville Shale with nearly three times the natural gas production of the second-largest producer, Chesapeake Energy Corp., and almost eight times the volume of the No. 3 player, Petrohawk Energy Corp.
Southwestern’s primary business is the exploration and production of natural gas in the United States, with its current operations focused principally on development of the unconventional reservoir located on the Arkansas side of the Arkoma Basin, which is referred to as the Fayetteville Shale play. The 75-year-old energy company is also actively engaged in exploration and production activities in Oklahoma, Texas, and Pennsylvania.
Exploration and production operations are conducted through Southwestern’s wholly-owned subsidiaries, SEECO Inc. and Southwestern Energy Production Company, or SEPCO. SEECO has historically operated in Arkansas. It holds a large base of both developed and undeveloped gas reserves in Arkansas and conducts the drilling programs for the Fayetteville Shale play as well as the conventional drilling program in the Arkansas part of the Arkoma Basin. SEPCO conducts development drilling and exploration programs in the Oklahoma part of the Arkoma Basin, Texas, and Pennsylvania. DeSoto Drilling Inc., or DDI, a wholly-owned subsidiary of SEPCO, operates drilling rigs in the Fayetteville Shale play and in East Texas.
Southwestern Energy operation in Fayetteville Shale.Photo courtesy of Southwestern Energy Corp.
Steven L. Mueller took over the reins as CEO of Southwestern on May 19 after Harold M. Korell announced his retirement. Mueller joined Southwestern in June 2008 as president and COO. Korell was appointed executive chairman of the company’s board of directors until his retirement no earlier than the end of the first quarter of 2010. After that time he will seek re-election to the board.