The Fayetteville Shale, is a black, organic-rich rock of Mississippian age that underlies much of northern Arkansas and adjacent states. It produces natural gas in the central portion of the Arkoma basin.

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Tuesday, May 3, 2011

Southwestern Energy: Production Better Than Expected in Fayetteville Shale

Southwestern Energy Co. of Houston announced lower first-quarter earnings but predicted better productivity for the rest of the year because of stronger-than-expected results in the Fayetteville Shale Play in north-central Arkansas.

The publicly traded company (NYSE:SWN) reported a net income of $136.6 million, or $0.39 per diluted share, for the three months ended March 31, compared to $171.8 million, or $.049 per diluted share, for the same period in 2010. The 20 percent decrease in earnings was blamed on a 24 percent decrease in the average price of natural gas, which was partially offset by significant growth in production.

Source: Arkansas Business
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