Southwestern Energy Investor Presentation
Appalachia - Core Dry Gas and Liquids Position
Operational Plan(¹)
Rigs
Frac fleets
2023E
Appalachia
3
Net Acres: 734,000(3)
2
80% 20%
Gas Liquids
2023E Net Production: ~2.8 Bcfe/day (1)
Wells drilled
53-57
Pennsylvania
% Marcellus liquids rich
65%
Wells completed
59-63
% Marcellus liquids rich
70%
Ohio
Wells to sales
62-66
% Marcellus liquids rich
70%
Average lateral length
>16,000
Base decline
<25%
West
Virginia
Capital Program (1)
2023E
SWN Acreage
D&C capital
$0.8B -$0.9B
$/lateral foot
$850 - $900
55%
Cost Structure ($/Mcfe)
LOE
2023E
$1.18 $1.24
~$1.9B
D&C(1)
45%
TOTI
Natural Gas Discount to NYMEX ($/Mcf)(2)
1) Based on midpoint of guidance and related activity levels.
$0.13 $0.17
($0.75 - $0.90)
2) Discount to Henry Hub including transportation costs and heating content adjustment.
3) Pro forma for Pennsylvania Utica asset sale in June 2023.
swn
Southwestern EnergyⓇ
40%
4.6
Bcfe/d(1)
60%
Haynesville
Appalachia
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