-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Uos1717x/k5qwIoahAxJknrqohwzCSj1xC7QnDK7kTgPDmL6QF3xZPInDJ65gUL4 8CjpzJPgaLZakR/nIOfTRA== 0000007332-97-000023.txt : 19970828 0000007332-97-000023.hdr.sgml : 19970828 ACCESSION NUMBER: 0000007332-97-000023 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970827 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970827 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHWESTERN ENERGY CO CENTRAL INDEX KEY: 0000007332 STANDARD INDUSTRIAL CLASSIFICATION: NATURAL GAS TRANSMISSION & DISTRIBUTION [4923] IRS NUMBER: 710205415 STATE OF INCORPORATION: AR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-08246 FILM NUMBER: 97670782 BUSINESS ADDRESS: STREET 1: 1083 SAIN ST STREET 2: P O BOX 1408 CITY: FAYETTEVILLE STATE: AR ZIP: 72702-1408 BUSINESS PHONE: 5015211141 FORMER COMPANY: FORMER CONFORMED NAME: ARKANSAS WESTERN GAS CO DATE OF NAME CHANGE: 19790917 8-K 1 DATE OF REPORT 08/27/97 =================================================================== SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 -------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported) August 27, 1997 --------------- SOUTHWESTERN ENERGY COMPANY (Exact name of registrant as specified in its charter) Arkansas 1 - 8246 71-0205415 (State of incorporation (Commission (I.R.S. Employer or organization) File Number) Identification No.) 1083 Sain Street, P.O. Box 1408, Fayetteville, Arkansas 72702-1408 (Address of principal executive offices, including zip code) (501) 521-1141 (Registrant's telephone number, including area code) No Change (Former name, former address and former fiscal year; if changed since last report) =================================================================== Item 5. Other Events Reference is made to the press release issued August 27, 1997, filed herewith as Exhibit 1, announcing the Company's plans to commence civil litigation against certain former employees and independent contractors. Item 7.(c) Exhibits Reference (1) Press release dated August 27, 1997 p. 3 - 4 SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SOUTHWESTERN ENERGY COMPANY --------------------------- (Registrant) DATE: August 27, 1997 BY: /s/ GREG D. KERLEY ----------------- ------------------------ Greg D. Kerley Vice President -- Treasurer and Secretary EX-99 2 PRESS RELEASE DATED 8/27/97 NEWS RELEASE FOR IMMEDIATE RELEASE For Further Information Contact: August 27, 1997 Stanley D. Green Executive Vice President-Finance and Corporate Development (501) 521-1141 SOUTHWESTERN ENERGY COMPANY TO COMMENCE CIVIL LITIGATION AGAINST FORMER EMPLOYEES AND INDEPENDENT CONTRACTORS FAYETTEVILLE, Ark., August 27, 1997 - Southwestern Energy Company (NYSE:SWN) announced today that the Company's Board of Directors has authorized the commencement of civil litigation against certain former employees of Southwestern Energy Production Company (SEPCO), a Houston-based subsidiary of Southwestern, and certain independent contractors who provided land acquisition services to SEPCO in connection with its ongoing exploration activities in south Louisiana. The litigation will allege overbilling and misrepresentation of expenses related to certain of the Company's south Louisiana projects. The Company, which is continuing its own detailed investigation of the alleged misconduct, has also been authorized by the Board to turn over certain materials to the appropriate law enforcement authorities, and the Company intends to cooperate fully in any investigation that may result. Said Chairman and Chief Executive Officer Charles E. Scharlau: "We suspect that the misconduct of former employees and independent contractors may have artificially inflated costs on certain projects and we intend to pursue recovery of the alleged overcharges. We have - MORE - conferred with our auditors and do not expect any material impact on our financial position or results of operation, although we cannot yet speak definitively about the financial impact of these events." Scharlau added: "In April, we introduced new management for our exploration and production operations when we named Harold Korell Executive Vice President and Chief Operating Officer of Southwestern. We will continue with our reorganization of these activities and will remain focused on our south Louisiana projects. Despite the unfortunate development announced today, we remain confident that our south Louisiana projects still provide the opportunity for Southwestern and industry partners to find significant new gas reserves through the use of 3-D seismic exploration technology. The preliminary results of our investigation have not diminished our enthusiasm about these projects, and we are encouraged by continuing negotiations with three potential partners who could help us bring them to fruition." He continued: "Our Company has been a victim of dishonest practices and, with our litigation, in addition to recovering our losses, we intend to send a strong message to the industry that we will not tolerate misconduct by employees or independent contractors." Southwestern also announced today that B. Brick Robinson, Executive Vice President in charge of SEPCO, will retire effective September 1, 1997, and that David Reinkemeyer, Exploration Manager, resigned from the Company on July 30, 1997. Neither Robinson nor Reinkemeyer is expected to be named in the Company's civil complaint. Southwestern Energy Company is a diversified natural gas company whose wholly owned subsidiaries are engaged in gas and oil exploration and production, natural gas gathering, transmission, and marketing, and natural gas distribution. # # # -----END PRIVACY-ENHANCED MESSAGE-----