Southwestern Energy To Buy Indigo Natural Resources For About $2.7 Bln

(RTTNews) - Southwestern Energy Co. (SWN) said that it agreed to buy Haynesville producer Indigo Natural Resources for about $2.7 billion. The total consideration will comprise of $400 million in cash, about $1.6 billion in SWN common stock and $700 million of assumed 5.375% senior notes due 2029.

The transaction is expected to close early in the fourth quarter of 2021.

Southwestern Energy expects to invest at maintenance capital levels again in 2022, with activity across all of its operating areas. On the acquired acreage, the company expects to run a 4 rig program in 2022, placing 30 to 40 wells to sales.