Southwestern Energy downgraded to Neutral from Buy at Sterne Agee Sterne Agee downgraded Southwestern due to equity dilution, the sharp increase in its debt in early 2015, and deteriorating U.S. natural gas price outlook.
Southwestern Energy sells gathering assets in Northeast Pennsylvania for $500M Southwestern Energy has executed a definitive purchase and sale agreement with Howard Midstream Energy Partners to sell Southwestern Energy's gathering assets located in Bradford and Lycoming counties in northeastern Pennsylvania for $500M. The assets include approximately 100 miles of natural gas gathering pipeline, with nearly 600 million cubic feet per day of capacity. The proceeds from the transaction will be used to substantially repay borrowings under Southwestern Energy's $500M term loan facility that matures in December 2016. The transaction is expected to close in Q2.