Southwestern Energy beat cost-reduction targets in 2019, lowering well costs by 27% to $824/lateral ft. Setting a company record, an 18,000-ft lateral was drilled and completed for $605/ft. Self-sourced sand, use of a company-owned water pipeline system, increased lateral lengths and reduced cycle times contributed to the cost reductions. Lower costs are part of the company’s two-year plan to become cash flow neutral following the divestment of its Fayetteville assets in December 2018. The......
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