While waiting on an extended Federal Trade Commission probe of its merger with Chesapeake Energy, Southwestern Energy plans a release of its first quarter financial results on May 2.
The release will be following the close of markets, but because of the pending merger, company leaders do not plan a conference call or webcast to discuss the results.
When Southwestern ended the fourth quarter, it had generated $2.5 billion net cash from operating activities and had $1.6 billion net income. It also invested $2.1 billion of capital and placed 132 wells to sales including 67 in Appalachia and 65 in Haynesville.
The merger with Chesapeake Energy would result in creation of one of the largest natural gas producing companies in the U.S. But a recent decision by the FTC delayed shareholder approval from both companies until later in 2024.
