Southwestern Energy Company Enters Canada In An Estimated $46.9 Billion Deal

Published in Oil and Gas Royalty News, Fayetteville Shale

Southwestern Energy Co., headquartered in Houston, TX, has for the first time entered the Canadian oil and gas market in a deal estimated to be approximately $46.9 billion. The company bought oil and gas exploration rights to a large chunk of land in the Canadian province of New Brunswick, which has enormous shale gas basins.

“We have identified a large area, which we believe is prospective for oil and natural gas,” Southwestern Chief Executive Steve Mueller said in a release.
“There is a significant amount of data yet to be collected in order to confirm its economic merit, but if our testing yields positive results, we expect that our activity in the area could increase substantially over the next several years,” he said. “This could be the beginning of an exciting new chapter in our company’s history.”

Southwestern is one of the biggest independent producers of natural gas in the United States and the largest producer of unconventional shale gas from Arkansas’ Fayetteville shale reservoir.

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