Southwestern Energy Investor Presentation
2023 Guidance
As of August 3, 2023
PRODUCTION
Gas Production (Bcf)
Liquids (% of production)
Total (Bcfe)
CAPITAL (in millions)
Appalachia
Haynesville
Total D&C capital (includes land)
Other
Capitalized interest and expense
Total capital investments
PRICING
Natural gas discount to NYMEX including transportation (1)
Oil discount to West Texas Intermediate (WTI) including transportation
Natural gas liquids realization as a % of WTI including transportation (2)
EXPENSES
Lease operating expenses
General & administrative expense
Taxes, other than income taxes
Income tax rate (~100% deferred)
Q3
360-380
~13.5%
419-439
swn
Southwestern EnergyⓇ
TOTAL YEAR
1,425 - 1,465
13.5 - 14.0%
1,650 - 1,705
-45%
-55%
$1,750 $2,020
$50 - $70
$200 - $210
$2,000
$2,300
$0.75 $0.87 per Mcf
$0.55 $0.70 per Mcf
$12.50
$14.50 per Bbl
20% -28%
$12.00
$15.00 per Bbl
27% - 35%
$1.05
$1.11 per Mcfe
$0.08
$0.12 per Mcfe
$0.16
$0.20 per Mcfe
23.0%
GROSS OPERATED WELL COUNT (3)
Drilled
Completed
Wells To Sales
Ending DUC Inventory
Appalachia
Haynesville
Total Well Count
53-57
52-56
105-113
59-63
55-59
114-122
62-66
61-65
123-131
13 17
17-21
30-38
1) Includes impact of transportation costs and expected $0.08 - $0.12 per Mcf impact and $0.02 - $0.04 per Mcf impact from financial basis hedges for the third quarter
and full year of 2023, respectively.
2) Annual guidance based on $74 per Bbl WTI.
3) Based on the midpoint of capital investment guidance.
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