SouthWestern Energy (SWN): It’s complicated; plenty of investment in new fields, with unclear results. Messy financials, difficult to interpret.
SouthWestern Energy Q2 2013: Revenue up YoY and QoQ on higher shale gas prices.
Investments in new fields continue unabated, and cash flow from operations is fully used for such field development. Overall cash is very tight and SouthWestern in vulnerable to price shocks.