Southwestern Reduces Spending

摘要

Responding to prolonged weakness in US natural gas prices, Southwestern Energy has unveiled a 2011 capital spending budget that is nearly 10% lower than its 2010 budget. The bulk of the $1.9 billion budget - some $1.3 billion - will be used to fund exploration and production activities in the Fayetteville Shale play in Arkansas, where the gas-weighted independent producer is a major player.