SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
LANE RICHARD F
(Last) (First) (Middle)
2350 N. SAM HOUSTON PKWY EAST
SUITE 125
(Street)
HOUSTON TX 77032
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SOUTHWESTERN ENERGY CO [ SWN ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Pres. E&P and EVP SWN
3. Date of Earliest Transaction (Month/Day/Year)
12/06/2007
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/06/2007 M(1) 40,000 A $1.8594 268,377 D
Common Stock 12/06/2007 S(1) 15,100 D $54.25 253,277 D
Common Stock 12/06/2007 S(1) 9,300 D $54.26 243,977 D
Common Stock 12/06/2007 S(1) 400 D $54.27 243,577 D
Common Stock 12/06/2007 S(1) 400 D $54.28 243,177 D
Common Stock 12/06/2007 S(1) 2,259 D $54.29 240,918 D
Common Stock 12/06/2007 S(1) 3,132 D $54.3 237,786 D
Common Stock 12/06/2007 S(1) 1,609 D $54.31 236,177 D
Common Stock 12/06/2007 S(1) 1,800 D $54.32 234,377 D
Common Stock 12/06/2007 S(1) 1,100 D $54.33 233,277 D
Common Stock 12/06/2007 S(1) 1,000 D $54.34 232,277 D
Common Stock 12/06/2007 S(1) 1,500 D $54.35 230,777 D
Common Stock 12/06/2007 S(1) 1,100 D $54.36 229,677 D
Common Stock 12/06/2007 S(1) 300 D $54.37 229,377 D
Common Stock 12/06/2007 S(1) 900 D $54.38 228,477 D
Common Stock 12/06/2007 S(1) 100 D $54.4 228,377 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock (2) (3) (3) Common Stock 11,827.6324 11,827.6324(4) D
Stock Options (Right to buy) $1.5 12/16/2000 12/16/2009 Common Stock 27,500 27,500 D
Stock Options (Right to buy) $2.41 12/20/2002 12/20/2011 Common Stock 25,000 25,000 D
Stock Options (Right to buy) $2.865 12/11/2003 12/11/2012 Common Stock 48,778 48,778 D
Stock Options (Right to buy) $5.285 12/10/2004 12/10/2013 Common Stock 82,561 82,561 D
Stock Options (Right to buy) $12.45 12/09/2005 12/09/2011 Common Stock 49,468 49,468 D
Stock Options (Right to buy) $35.49 12/08/2006 12/08/2012 Common Stock 23,710 23,710 D
Stock Options (Right to buy) $40.67 12/11/2007 12/11/2013 Common Stock 21,850 21,850 D
Stock Options (Right to buy) $1.8594 12/06/2007 M(1) 40,000 12/14/2001 12/14/2010 Common Stock 40,000 $1.8594 69,512 D
Explanation of Responses:
1. The cashless option exercise is being executed at the direction of the reporting person's ex-wife pursuant to a Qualified Domestic Relations Order entered on April 4, 2007. The reporting person will not claim beneficial ownership of the stock options being exercised and sold.
2. Each share of phantom stock represents the right to receive the economic equivalent of one share of Southwestern Energy Company common stock.
3. Shares of phantom stock are payable in cash following termination of the reporting person's employment with Southwestern Energy Company. The reporting person may transfer his phantom stock account into an alternative investment account at any time.
4. The common stock held in the Southwestern Energy Company Nonqualified Retirement Plan (the "NQ Plan") investment fund was previously reported in Table 1 as a non-derivative security indirectly owned by the reporting person. Prospectively, the balance of common stock held in the investment fund on behalf of the insider will be reported under Table II as phantom stock.
Melissa D. McCarty, Attorney-in-Fact 12/07/2007
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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