-----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, PiDR9cLfyUsCmDrv/TymPOG9ev+FutfgqXx/w6Gqi0xWCmytVE1AN4notHLI4A/z MNQLOR2YWz9MmYkOcxxD/w== /in/edgar/work/20000912/0000007332-00-000027/0000007332-00-000027.txt : 20000922 0000007332-00-000027.hdr.sgml : 20000922 ACCESSION NUMBER: 0000007332-00-000027 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000911 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20000912 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: 720979 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 9/11/00 =================================================================== 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) September 11, 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 September 11, 2000, filed herewith as Exhibit 1. Item 7.(c) Exhibits Reference - -------- --------- (1) Press release dated September 11, 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: September 12, 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 9/11/00 NEWS RELEASE For Further Information Contact: Greg D. Kerley Executive Vice President and Chief Financial Officer (501) 521-1141 SOUTHWESTERN ENERGY RESPONDS TO LAWSUIT FILED IN SEBASTIAN COUNTY CIRCUIT COURT Fayetteville, Arkansas -- September 11, 2000...Southwestern Energy (NYSE:SWN) today responded to a class action lawsuit that has been filed against the Company in state court in Sebastian County, Arkansas. The suit alleges royalty and mineral rights owners are owed damages as a result of the Company's operation of an underground natural gas storage facility in Franklin County, Arkansas. Southwestern Energy believes that the Plaintiffs' allegations in this suit are not supported by the facts or the law and that the Company's subsidiary acted in accordance with the guidelines of the Arkansas Oil and Gas Commission. Specifically, the Arkansas Oil and Gas Commission has authorized the Company's subsidiaries to use the gas storage facility. That authority was granted after proper notice and full public hearings in 1968, and the facility has been in continuous use for more than 30 years. Written agreements were obtained from the property owners, and those owners have been continuously paid compensation for the right to gas storage at the Stockton Gas Storage Unit. In 1997, as a result of additional geologic and engineering data from drilling in the area, the Arkansas Oil and Gas Commission, after proper notice and a full hearing, expanded the area limits of the Stockton Gas Storage Unit. In it's 1997 Order, and certification, the Commission again found that the facility was suitable for the storage of gas and that it's use for gas storage was in the public's interest. "Contrary to the Plaintiffs' allegations, this suit is not related to, or analogous to, the recent Hales suit. The Company denies the Plaintiffs' allegation that they are entitled to ownership rights to the natural gas that the Company has injected into the storage facility," said Harold Korell, president and chief executive officer, Southwestern Energy. -MORE- As a result of negotiations with property owners, the Company's subsidiary has obtained the storage rights from a majority of the property owners in the expanded portion of the storage unit. Prior to the Plaintiffs' filing of this lawsuit, the Company's subsidiary had been actively pursuing the acquisition of agreements with all remaining property owners. However, until the Court can determine whether to allow this lawsuit to proceed as a class action, the Company has stopped further negotiations with the remaining property owners. Consequently, the Company will begin condemnation proceedings, as are specifically allowed under Arkansas law, to allow the Court to determine the fair value of the remaining property owners' gas storage rights. "We have been working for a number of months with affected property owners to provide fair compensation for the use of their property for gas storage. Because of their significantly divergent interests, we believe that the Court will deny class action certification of this lawsuit," said Mr. Korell. The Company believes that its ultimate liability, if any, will not be material to its consolidated financial position or results of operations. Southwestern Energy is an integrated natural gas company whose wholly-owned subsidiaries are engaged in oil and gas exploration and production, natural gas gathering, transmission and marketing and natural gas distribution. Additional information about the Company can be found on the Internet 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, the effects of weather and regulation on the Company's gas distribution segment, and the value that the Company's gas distribution segment may bring in exploring sales opportunities for this segment. 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-----