Southwestern Energy To Buy Assets In Northwest Colorado In $180 Mln Deal

(RTTNews) - Southwestern Energy Co. (SWN), through its wholly owned subsidiary Southwestern Energy Production Company, announced that it has signed an agreement to purchase about 312,000 net acres in northwest Colorado targeting crude oil, natural gas liquids and natural gas contained in the Niobrara formation from Quicksilver Resources Inc. (KWK) and SWEPI LP, a wholly owned subsidiary of European oil giant Royal Dutch Shell Plc. (RDS-B, RDSB.L, RDSA.L, RDS-A) for about $180 million, subject to closing conditions.

Southwestern said it intends to use its revolving credit facility to finance the acquisition.

The transaction is expected to close in the second quarter of 2014.