-----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, I+YUpttiOJUK6/cTFLOIrfpv1hBwmGGlbvsamOY1PAx//4Gqp8+ydXPYXr9800+t E1/s2xdkz619InNqQWi/oQ== /in/edgar/work/20000622/0000007332-00-000015/0000007332-00-000015.txt : 20000920 0000007332-00-000015.hdr.sgml : 20000920 ACCESSION NUMBER: 0000007332-00-000015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000622 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000622 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SOUTHWESTERN ENERGY CO CENTRAL INDEX KEY: 0000007332 STANDARD INDUSTRIAL CLASSIFICATION: [4923 ] IRS NUMBER: 710205415 STATE OF INCORPORATION: AR FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-08246 FILM NUMBER: 659174 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 0001.txt DATE OF REPORT 6/22/00 =================================================================== 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) June 22, 2000 ------------- 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) =================================================================== -1- Item 5. Other Events - ------------ Reference is made to the press release issued June 22, 2000, filed herewith as Exhibit 1. Item 7.(c) Exhibits Reference - -------- --------- (1) Press release dated June 22, 2000 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: June 22, 2000 BY: /s/ GREGORY D. KERLEY ----------------- ------------------------- Gregory D. Kerley Executive Vice President and Chief Financial Officer -2- EX-99 2 0002.txt PRESS RELEASE DATED 6/22/00 NEWS RELEASE For Further Information Contact: Greg D. Kerley Executive Vice President and Chief Financial Officer (501) 521-1141 ARKANSAS SUPREME COURT AFFIRMS LOWER COURT DECISION IN SOUTHWESTERN ENERGY COMPANY APPEAL Southwestern Will Pay Settlement and Raise Cash Through Sales of Assets FAYETTEVILLE, ARKANSAS - June 22, 2000...Southwestern Energy Company (NYSE: SWN) today announced the Arkansas Supreme Court today has ruled to affirm the 1998 decision of a Sebastian County Circuit Court awarding more than $109 million in a class action to royalty owners of SEECO, Inc., a wholly-owned Southwestern Energy subsidiary. While this decision was not expected by Southwestern, the Company had prepared for the outcome including posting a $109 million bond supported by letters of credit from the Company's lead lending institutions. "Southwestern is disappointed at the Supreme Court Decision. It is not the outcome we had anticipated. It will take some time to recoup the cost of this judgment and will involve the disposition of some Company assets," said Harold Korell, Southwestern President and Chief Executive Officer. "Fortunately, Southwestern has the financial flexibility to allow it the time to recoup settlement costs and to continue development of its quality exploration and production projects." In late 1999 and early this year, Southwestern successfully drilled exploratory wells in south Louisiana at Gloria and North Grosbec and has had continued success in its Arkoma Basin and Permian Basin investments. The exploration successes in south Louisiana are of particular note as they were the first prospects in this area developed in-house by our new exploration team. Southwestern's full-year 1999 and first quarter 2000 earnings were consistent with previous years' levels despite the warmest winter in the Company's history. -MORE- The Company said that within the next few days it will disclose specific action it will take to fund the judgment and the near term effects of the judgment on the financial condition of the Company. "Following the Court's decision today, let us be clear, our position is unchanged. We believe that from the beginning in this matter Southwestern Energy has acted honestly and responsibly and has served the best interests of its royalty owners and utility customers, and we will continue to do so in the future," said Mr. Korell. "Despite the disappointment of the ruling, we remain optimistic about the Company's future because the outlook for our exploration and production operations has never been brighter." Southwestern Energy will broadcast a conference call in conjunction with this press release over the Internet at 12:00 p.m. EST (11:00 a.m. CST) today at the Company's website: http://www.swn.com. RealPlayer 8 Basic is required to listen to the teleconference and can be downloaded from the website. Southwestern Energy is an integrated 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. Additional Company information can be accessed at http://www.swn.com. All statements, other than historical financial information, included in this press release may be deemed to be forward-looking statements within the meaning of the Securities Litigation Reform Act. These statements reflect the Company's current views with respect to future events and performance and involve risks and uncertainties that are detailed in the Company's Securities and Exchange Commission filings. These risks would include, but are not limited to, the timing and extent of the Company's success in discovering, developing, producing and estimating oil and natural gas reserves. Although these statements are made in good faith and the Company believes they are reasonable representations of the Company's expected performance at this time, the Company's actual financial and operating results could differ materially from those projected as a result of certain factors. A discussion of those factors is included in the Company's periodic reports filed with the Securities and Exchange Commission including its Annual Report on Form 10-K for the year ended December 31, 1999. # # # -----END PRIVACY-ENHANCED MESSAGE-----