8-K

UNITED STATES

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 16, 2005

SOUTHWESTERN ENERGY COMPANY

(Exact name of registrant as specified in its charter)

Arkansas

(State or other jurisdiction of incorporation)

1-8246	71-0205415
(Commission File Number)	(IRS Employer Identification No.)
2350 N. Sam Houston Pkwy. E., Suite 300, Houston, Texas	77032
(Address of principal executive offices)	(Zip Code)

(281) 618-4700

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

       o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

SECTION 8.  Other Events

Item 8. 01 Other Events

On June 3, 2005, Southwestern Energy Company effected its previously announced two-for-one stock split. Selected historical financial data including restated common stock statistics is furnished herewith as Exhibit 99.1.

SECTION 9.  Financial Statements and Exhibits

Item 9(c)

Exhibits.  The following exhibit is being furnished as part of this Report.

Exhibit Number	Description
99.1	Selected Financial Data.

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 hereunto duly authorized.

	SOUTHWESTERN ENERGY COMPANY
Dated: June 16, 2005	By:	/s/ GREG D KERLEY
	Name:	Greg D. Kerley
	Title:	Executive Vice President and
		Chief Financial Officer

EXHIBIT INDEX

Exhibit Number	Description
99.1	Selected Financial Data.

EX-99

EXHIBIT 99.1

SELECTED FINANCIAL DATA

        The following table sets forth a summary of selected historical financial information for each of the years in the five-year period ended December 31, 2004. This information and the notes thereto are derived from our financial statements.

		2004		2003		2002		2001		2000
	(in thousands except share, per share, shareholder data and percentages)
Financial Review Operating revenues Exploration and production	$	286,924	$	176,245	$	122,207	$	153,937	$	110,920
Gas distribution		152,449		137,356		115,850		147,282		151,234
Gas marketing and other		321,226		205,449		131,514		190,773		208,196
Intersegment revenues		(283,462)		(191,649)		(108,069)		(147,065)		(106,467)
		477,137		327,401		261,502		344,927		363,883
Operating costs and expenses Gas purchases - utility		64,311		52,585		48,388		68,161		58,669
Gas purchases - marketing		60,804		39,428		37,927		68,010		133,221
Operating and general		78,231		70,479		64,600		64,108		59,790
Unusual items		--		--		--		--		111,288
Depreciation, depletion and amortization		73,674		55,948		53,992		52,899		45,869
Taxes, other than income taxes		17,830		11,619		10,090		9,080		8,515
		294,850		230,059		214,997		262,258		417,352
Operating income (loss)		182,287		97,342		46,505		82,669		(53,469)
Interest expense, net		(16,992)		(17,311)		(21,466)		(23,699)		(24,689)
Other income (expense)		(362)		797		(566)		(799)		1,997
Minority interest in partnership		(1,579)		(2,180)		(1,454)		(930)		--
Income (loss) before income taxes and accounting    change		163,354		78,648		23,019		57,241		(76,161)
Income taxes Current		--		--		--		--		--
Deferred		59,778		28,896		8,708		21,917		(29,474)
		59,778		28,896		8,708		21,917		(29,474)
Income before accounting change		103,576		49,752		14,311		35,324		(46,687)
Cumulative effect of adoption of accounting    principle		--		(855)		--		--		--
Net income (loss)	$	103,576	$	48,897	$	14,311	$	35,324	$	(46,687)
Net cash provided by operating activities	$	237,897	$	109,099	$	77,574	$	144,583	$	(53,203)	(1)
Return on equity		23.1%		14.3%		8.1%		19.3%		n/a
Common Stock Statistics (2) Earnings (loss) per share:
Basic	$	1.45	$	.74	$	.28	$	.70	$	(.93)
Diluted	$	1.40	$	.73	$	.27	$	.69	$	(.93)
Cash dividends declared and paid per share	$	--	$	--	$	--	$	--	$	.06
Book value per average diluted share	$	6.06	$	4.99	$	3.41	$	3.58	$	2.82
Market price at year-end	$	25.35	$	11.95	$	5.73	$	5.20	$	5.19
Number of shareholders of record at year-end		2,022		2,026		2,079		2,124		2,192
Average diluted shares outstanding		73,925,544		68,475,868		52,104,476		51,202,220		50,087,172

        (1) Net cash provided by operating activities for 2000 would have been $58.1 million excluding the effects of unusual items for the Hales judgment and other litigation.

        (2) Common stock statistics have been restated to reflect the June 3, 2005 two-for-one stock split.

	2004		2003		2002		2001		2000
Capitalization (in thousands)
Total debt, including current portion	$	325,000	$	278,800	$	342,400	$	350,000	$	396,000
Common shareholders' equity(1)		447,677		341,561		177,488		183,086		141,291
Total capitalization	$	772,677	$	620,361	$	519,888	$	533,086	$	537,291
Total assets	$	1,146,144	$	890,710	$	740,162	$	743,123	$	705,378
Capitalization ratios:
Debt		42.1%		44.9%		65.9%		65.7%		73.7%
Equity		57.9%		55.1%		34.1%		34.3%		26.3%
Capital Expenditures (in millions) (2)
Exploration and production	$	282.0	$	170.9	$	85.2	$	99.0	$	69.2
Gas distribution		7.3		8.2		6.1		5.3		6.0
Other		5.7		1.1		0.8		1.8		0.5
	$	295.0	$	180.2	$	92.1	$	106.1	$	75.7
Exploration and Production
Natural gas:
Production, Bcf		50.4		38.0		36.0		35.5		31.6
Average price per Mcf, including hedges	$	5.21	$	4.20	$	3.00	$	3.85	$	2.88
Average price per Mcf, excluding hedges	$	5.80	$	5.15	$	3.11	$	4.16	$	3.92
Oil:
Production, MBbls		618		531		682		719		676
Average price per barrel, including hedges	$	31.47	$	26.72	$	21.02	$	23.55	$	22.99
Average price per barrel, excluding hedges	$	40.55	$	29.66	$	23.94	$	23.58	$	29.38
Total gas and oil production, Bcfe		54.1		41.2		40.1		39.8		35.7
Lease operating expenses per Mcfe	$	.38	$	.39	$	.45	$	.45	$	.40
Taxes other than income taxes per Mcfe	$	.28	$	.22	$	.19	$	.17	$	.16
Proved reserves at year-end:
Natural gas, Bcf		594.5		457.0		374.6		355.8		331.8
Oil, MBbls		8,508		7,675		6,784		7,704		8,130
Total reserves, Bcfe		645.5		503.1		415.3		402.0		380.6
Gas Distribution(3)
Sales and transportation volumes, Bcf:
Residential		8.5		9.0		9.0		8.4		7.9
Commercial		5.7		6.1		6.2		6.1		6.0
Industrial		1.3		1.2		1.5		2.5		2.9
End-use transportation		8.5		8.4		8.4		7.0		6.3
		24.0		24.7		25.1		24.0		23.1
Off-system transportation		1.0		0.3		2.2		3.1		3.1
		25.0		25.0		27.3		27.1		26.2
Customers at year-end:
Residential		127,622		124,776		122,906		119,856		119,024
Commercial		16,815		16,623		16,448		16,177		16,282
Industrial		175		174		189		209		228
		144,612		141,573		139,543		136,242		135,534
Degree days		3,678		3,969		3,950		3,654		3,994
Percent of normal		90%		99%		98%		91%		100%

(1) Shareholders' equity included accumulated other comprehensive losses of $19.8 million in 2004 ($18.8 million related to our cash flow hedges and $1.0 million related to our pension plan), $12.5 million in 2003 ($12.0 million related to our cash flow hedges and $0.5 million related to our pension plan), and $17.4 million in 2002 ($14.0 million related to our cash flow hedges and $3.4 million related to our pension plan), and accumulated other comprehensive income of $5.8 million in 2001 related to our cash flow hedges.

(2) Capital expenditures for 2004 and 2003 included $3.9 million and $12.0 million, respectively, related to the change in accrued expenditures between years.

(3) Gas distribution statistics for 2000 exclude the operations of Missouri properties which were sold May 31, 2000.