Has anyone heard when SWN is releasing their spending plan for 2018? Last year it seemed like it was during July.
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When things are bad, Way hits the golf course...just like Obama and O.J.
Watching industry earnings seeing budget cutbacjs, continued layoffs and continued weakness in sector and natural gas futures.
OMG..Are you kidding about CHK? DEFINITELY NO!!!!
Is CHK in position to buyout SWN?
Rome is burning (near 52 week low again) and where is Way? Is he still in make believe and everyone-else-is-stupid-except-for-me world? Our jobs and livelihood are riding on this idiot! Ask anyone around him (raise your hand 5 North and division leaders) if they think he can drive us toward success - get your resume on the street. We are destined to be bought out at current stock price or lower.
Response below makes sense for employees/management trying to keep jobs but NOT for shareholders. Way is concerned with keeping the smoke and mirrors fully functioning!
you ask about action -- any action will probably involve - sales, layoffs, retirements, hiring freezes
whats your hurry for action ? unless you have a enough stock to matter, with the positive results that would generate
Spending will be less in 2018 than right now. All drilling will be in WV and PA. No drilling elsewhere equals more layoffs in Fayetteville and services. Unfortunately, it just can't keep up with big wells up north. Exec management better get their #*+^ together fast. What is taking so long to act?
I think we have about $5 Billion in debt.. using some normal metrics we might be $3 Billion for Fayetteville
Leaves 2 pieces of Appalachia and $2Billion debt ... using the same metrics, those would be worth about $4 billion .. I would say sell those also, pay everyone $4 per share and flush this turd down the drain ....
Sale Fayetteville with all that upside in the Moorefield after BHP BILLITON sales their Fayetteville. Use funds to pay off debt (ALL OF IT), Thin out management. Then we will have money to drill with NO DEBT!!!! Avoid litigation. Sounds like a PLAN. Figure out a WAY to be a company for the future. Pay stockholders a dividend.
Stock tanking... Way working on slides (font size and adjectives)! He does not know how to lead this company.
We are sinking - get a captain who knows what he/she is doing.
Some chance they are highlighting/ pumping up Moore field results in preparation for a sale to up the price
The approach...See Seeking Alpha pumping up IP's in Moorefield which nothing to do with ultimate recoverable reserves, decline rates and real economics with actual prices.
I don't know anything -- but the assumption has always been we would sell the Fayetteville area.
We are just drilling deeper and deeper into the inventory. Nothing new coming
We are probably just destroying value by drilling anything.
I think we are looking at a 2016 set-up
What asset are they looking to shed?
LOTS OF INTERNAL TALK AND CONCERN about backwardated gas curve thru 2020 as relates to available cash flow for interest payments, debt, overhead and ability to drill ANYTHING.
Reorg, layoffs, & possible sale of an asset coming soon.
Interpret the double speak comignin August as well as any "reorganizations " etc that show pending changes / layoffs
"Energy-focused private equity fund EnerVest has seen its value plummet to almost nothing from nearly $2 billion in three years." Sign of the times we live in.
Watch out for Way's smoke and mirrors.
we won't release spending plans until December at the earliest. I bet we don't release until February. More near term is to watch and listen for 2018 talk when we give our earnings update later this month. the question is when do they come off of the high growth plan for 2018. Crazy to do in this environment and likely not economic. All that equals more layoffs.
Very Experienced Landman/Analyst took over a year to get full time contract work at a small in people employed private Permian E&P..different in real world as top guys get their hands dirty in the field.No egos or multiple layers of management.
So e/p technical. 2 jobs .. contract work in fall for about 4 months .. then full time in February... about a year from layoffs till something permanent ... probably about typical.
If your new to industry; being able to weather a year is really valuable
So, how many jobs have you had since layoff 2016, how long did it take to find a job, what area of business are u employed in now LNG, PIPELINE, TRANSMISSION, Regulatory, DRILLING, LAND, ACCTG OR E &P technical
I'm not with swn anymore, part of 2016 layoffs ( I've moved on to a great industry spot and love it). I have heard about swn layoffs from industry sources -- supposedly with connections to swn hr...
not sure , but seems inevitable ... maybe retirements package first . At least more opportunities outside swn than in 2016.
This board was active in 16, not so much now , so possibility not accurate rumor -- but hey there it is
Layoffs are coming, if you can't see that you're blind. If you are looking for management to be honest about it, then you're an idiot.
Drilling into a low gas price makes no sense unless you are justifying jobs.
Which at some point brings back to the main point of the website ... layoff rumors ?
We should look for some action after quarter earnings - early August .. then August management review -- fall of deceiving employees ... maybe layoffs in November, just to switch things up
Looked at guidance we have on website 4/28/17 effective 2/23/17. We used $3.25/$55 which is is not reflective net of differentials and price at well, over stated prices now with price curves and assume we included hedges. Can we say we are on track with wells drilled, completed and DUC's which adds to estimated lower 48 5900+ DUC's?
Gas:
Why gas curve backwardated meaning forward/future months Nymex gas price curve (pre area differentials which make wellhead EVEN LOWER) diving lower and continued drilling hurts well economics and why can't drill Fayetteville:
"Stockpiles held in underground storage in the lower 48 states rose by 72 billion cubic feet (Bcf) for the week ended June 30, 2017, above the guidance (of 63 Bcf gain) as per the analysts surveyed by S&P Global Platts, a leading independent commodities and energy data provider. Worse, the increase was higher than both last year's addition of 38 Bcf and the 5-year (2012-2016) average net injection of 66 Bcf for the reported week."
Assume that you mean capital spending/investmebt limited to excess cashflow after overhead, G &A, legal and litigation, interest on secured loan and interest due quarterly to SWNC shareholders and other costs of doing business, leases on buildings, etc. We really have no remaining borrowing capacity left and very doubtful we would go out again to market with issuance of stock(see SWNc securities fraud lawsuit active and filed in Harris County).
Swn is committed to only funding within cash flow... right now, one would be looking at lower to flat from 2017--
-- hedges would help, but at this point with gas futures in backwardation , you have to hedge gas today lower than a year out... basically no help in site from prices
"Apr 27, 2017 - 2017 Guidance Effective As of February 23, 2017 (except as noted). 2017 Guidance." Google SWn guidance for 2017
Seriously doubt guidance for 2018 will be any more robust than 2017 and may be released well into 2018 just like 2017's.
Definitely not July..usually guidance at year end. In 2017 our guidance for 2017 was NOT FINALIZED or published/public until February.