falsedesktopSWN2020-09-30000000733220000069{"tbl_sim": "https://q10k.com/tbl-sim", "search": "https://q10k.com/search"}{"q10k_tbl_0": "PART I - FINANCIAL INFORMATION\t\t\tPage\n\t\t\t\nItem 1.\tFinancial Statements\t\t3\n\tConsolidated Statements of Operations\t\t3\n\tConsolidated Statements of Comprehensive Income\t\t4\n\tConsolidated Balance Sheets\t\t5\n\tConsolidated Statements of Cash Flows\t\t6\n\tConsolidated Statements of Changes in Equity\t\t7\n\tNotes to Consolidated Financial Statements\t\t9\n\t\tNote 1. Basis of Presentation\t9\n\t\tNote 2. Acquisition\t9\n\t\tNote 3. Restructuring Charges\t10\n\t\tNote 4. Revenue Recognition\t11\n\t\tNote 5. Cash and Cash Equivalents\t12\n\t\tNote 6. Natural Gas and Oil Properties\t13\n\t\tNote 7. Earnings per Share\t13\n\t\tNote 8. Derivatives and Risk Management\t14\n\t\tNote 9. Reclassifications From Accumulated Other Comprehensive Income (Loss)\t22\n\t\tNote 10. Fair Value Measurements\t22\n\t\tNote 11. Debt\t25\n\t\tNote 12. Commitments and Contingencies\t27\n\t\tNote 13. Income Taxes\t28\n\t\tNote 14. Pension Plan and Other Postretirement Benefits\t29\n\t\tNote 15. Long-Term Incentive Compensation\t29\n\t\tNote 16. Segment Information\t33\n\t\tNote 17. New Accounting Pronouncements\t34\nItem 2.\tManagement's Discussion and Analysis of Financial Condition and Results of Operations\t\t35\n\tResults of Operations\t\t38\n\tLiquidity and Capital Resources\t\t45\nItem 3.\tQuantitative and Qualitative Disclosures About Market Risk\t\t51\nItem 4.\tControls and Procedures\t\t52\n\t\t\t\nPART II - OTHER INFORMATION\t\t\t\n\t\t\t\nItem 1.\tLegal Proceedings\t\t52\nItem 1A.\tRisk Factors\t\t52\nItem 2.\tUnregistered Sales of Equity Securities and Use of Proceeds\t\t54\nItem 3.\tDefaults Upon Senior Securities\t\t54\nItem 4.\tMine Safety Disclosures\t\t54\nItem 5.\tOther Information\t\t54\nItem 6.\tExhibits\t\t55\n", "q10k_tbl_1": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions except share/per share amounts)\t2020\t2019\t2020\t2019\nOperating Revenues:\t\t\t\t\nGas sales\t199\t238\t611\t943\nOil sales\t40\t67\t111\t153\nNGL sales\t68\t52\t158\t191\nMarketing\t219\t279\t645\t1004\nOther\t1\t0\t4\t2\n\t527\t636\t1529\t2293\nOperating Costs and Expenses:\t\t\t\t\nMarketing purchases\t226\t288\t675\t1022\nOperating expenses\t202\t189\t577\t523\nGeneral and administrative expenses\t31\t42\t89\t119\nMontage acquisition-related expenses\t3\t0\t3\t0\nRestructuring charges\t0\t4\t12\t9\nLoss on sale of operating assets\t0\t0\t0\t3\nDepreciation depletion and amortization\t70\t125\t267\t352\nImpairments\t361\t2\t2495\t8\nTaxes other than income taxes\t15\t15\t38\t51\n\t908\t665\t4156\t2087\nOperating Income (Loss)\t(381)\t(29)\t(2627)\t206\nInterest Expense:\t\t\t\t\nInterest on debt\t43\t42\t123\t125\nOther interest charges\t2\t2\t7\t5\nInterest capitalized\t(23)\t(27)\t(67)\t(84)\n\t22\t17\t63\t46\n\t\t\t\t\nGain (Loss) on Derivatives\t(192)\t100\t38\t220\nGain on Early Extinguishment of Debt\t0\t7\t35\t7\nOther Income (Loss) Net\t2\t(2)\t3\t(7)\n\t\t\t\t\nIncome (Loss) Before Income Taxes\t(593)\t59\t(2614)\t380\nProvision (Benefit) for Income Taxes:\t\t\t\t\nCurrent\t0\t(1)\t(2)\t(1)\nDeferred\t0\t11\t408\t(400)\n\t0\t10\t406\t(401)\nNet Income (Loss)\t(593)\t49\t(3020)\t781\n\t\t\t\t\nEarnings (Loss) Per Common Share:\t\t\t\t\nBasic\t(1.04)\t0.09\t(5.48)\t1.45\nDiluted\t(1.04)\t0.09\t(5.48)\t1.44\n\t\t\t\t\nWeighted Average Common Shares Outstanding:\t\t\t\t\nBasic\t571872413\t539221101\t551162559\t539315170\nDiluted\t571872413\t540038187\t551162559\t540442649\n", "q10k_tbl_2": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\nNet income (loss)\t(593)\t49\t(3020)\t781\n\t\t\t\t\nChange in value of pension and other postretirement liabilities:\t\t\t\t\nAmortization of prior service cost and net loss included in net periodic pension cost (1)\t1\t1\t1\t5\n\t\t\t\t\nComprehensive income (loss)\t(592)\t50\t(3019)\t786\n", "q10k_tbl_3": "\tSeptember 30 2020\tDecember 31 2019\nASSETS\t(in millions)\t\nCurrent assets:\t\t\nCash and cash equivalents\t95\t5\nAccounts receivable net\t239\t345\nDerivative assets\t238\t278\nOther current assets\t41\t51\nTotal current assets\t613\t679\nNatural gas and oil properties using the full cost method including $1379 million as of September 30 2020 and $1506 million as of December 31 2019 excluded from amortization\t25969\t25250\nOther\t500\t520\nLess: Accumulated depreciation depletion and amortization\t(23247)\t(20503)\nTotal property and equipment net\t3222\t5267\nOperating lease assets\t145\t159\nDeferred tax assets\t0\t407\nOther long-term assets\t177\t205\nTotal long-term assets\t322\t771\nTOTAL ASSETS\t4157\t6717\nLIABILITIES AND EQUITY\t\t\nCurrent liabilities:\t\t\nAccounts payable\t416\t525\nTaxes payable\t47\t59\nInterest payable\t56\t51\nDerivative liabilities\t287\t125\nCurrent operating lease liabilities\t33\t34\nOther current liabilities\t30\t54\nTotal current liabilities\t869\t848\nLong-term debt\t2450\t2242\nLong-term operating lease liabilities\t107\t119\nLong-term derivative liabilities\t188\t111\nPension and other postretirement liabilities\t35\t43\nOther long-term liabilities\t124\t108\nTotal long-term liabilities\t2904\t2623\nCommitments and contingencies (Note 12)\t\t\nEquity:\t\t\nCommon stock $0.01 par value; 1250000000 shares authorized; issued 649899653 shares as of September 30 2020 and 585555923 shares as of December 31 2019\t7\t6\nAdditional paid-in capital\t4882\t4726\nAccumulated deficit\t(4271)\t(1251)\nAccumulated other comprehensive loss\t(32)\t(33)\nCommon stock in treasury 44353224 shares as of September 30 2020 and December 31 2019\t(202)\t(202)\nTotal equity\t384\t3246\nTOTAL LIABILITIES AND EQUITY\t4157\t6717\n", "q10k_tbl_4": "\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\nCash Flows From Operating Activities:\t\t\nNet income (loss)\t(3020)\t781\nAdjustments to reconcile net income (loss) to net cash provided by operating activities:\t\t\nDepreciation depletion and amortization\t267\t352\nAmortization of debt issuance costs\t6\t5\nImpairments\t2495\t8\nDeferred income taxes\t408\t(400)\n(Gain) loss on derivatives unsettled\t272\t(108)\nStock-based compensation\t2\t6\nGain on early extinguishment of debt\t(35)\t(7)\nLoss on sale of assets\t0\t3\nOther\t3\t11\nChange in assets and liabilities:\t\t\nAccounts receivable\t106\t257\nAccounts payable\t(129)\t(124)\nTaxes payable\t(12)\t(3)\nInterest payable\t3\t2\nInventories\t3\t(2)\nOther assets and liabilities\t38\t(42)\nNet cash provided by operating activities\t407\t739\n\t\t\nCash Flows From Investing Activities:\t\t\nCapital investments\t(700)\t(877)\nProceeds from sale of property and equipment\t2\t42\nNet cash used in investing activities\t(698)\t(835)\n\t\t\nCash Flows From Financing Activities:\t\t\nPayments on long-term debt\t(72)\t(43)\nPayments on revolving credit facility\t(1449)\t0\nBorrowings under revolving credit facility\t1415\t0\nChange in bank drafts outstanding\t(9)\t(11)\nProceeds from issuance of long-term debt\t350\t0\nDebt issuance costs\t(5)\t0\nPurchase of treasury stock\t0\t(21)\nProceeds from issuance of common stock net\t152\t0\nCash paid for tax withholding\t(1)\t(1)\nNet cash provided by (used in) financing activities\t381\t(76)\n\t\t\nIncrease (decrease) in cash and cash equivalents\t90\t(172)\nCash and cash equivalents at beginning of year\t5\t201\nCash and cash equivalents at end of period\t95\t29\n", "q10k_tbl_5": "\tCommon Stock\t\tAdditional Paid-In Capital\tAccumulated Deficit\t\tAccumulated Other Comprehensive Income (Loss)\t\tCommon Stock in Treasury\t\tTotal\n\tShares Issued\tAmount\t\t\tShares\t\tAmount\t\n\t(in millions except share amounts)\t\t\t\t\t\t\t\t\nBalance at December 31 2019\t585555923\t6\t4726\t(1251)\t\t(33)\t\t44353224\t(202)\t3246\nComprehensive loss:\t\t\t\t\t\t\t\t\t\t\nNet loss\t0\t0\t0\t(1547)\t\t0\t\t0\t0\t(1547)\nOther comprehensive income\t0\t0\t0\t0\t\t0\t\t0\t0\t0\nTotal comprehensive loss\t0\t0\t0\t0\t\t0\t\t0\t0\t(1547)\nStock-based compensation\t0\t0\t1\t0\t\t0\t\t0\t0\t1\nIssuance of restricted stock\t12397\t0\t0\t0\t\t0\t\t0\t0\t0\nCancellation of restricted stock\t(167130)\t0\t0\t0\t\t0\t\t0\t0\t0\nRestricted units granted\t1005976\t0\t1\t0\t\t0\t\t0\t0\t1\nTax withholding - stock compensation\t(383731)\t0\t0\t0\t\t0\t\t0\t0\t0\nBalance at March 31 2020\t586023435\t6\t4728\t(2798)\t\t(33)\t\t44353224\t(202)\t1701\nComprehensive loss:\t\t\t\t\t\t\t\t\t\t\nNet loss\t0\t0\t0\t(880)\t\t0\t\t0\t0\t(880)\nOther comprehensive income\t0\t0\t0\t0\t\t0\t\t0\t0\t0\nTotal comprehensive loss\t0\t0\t0\t0\t\t0\t\t0\t0\t(880)\nStock-based compensation\t0\t0\t1\t0\t\t0\t\t0\t0\t1\nIssuance of restricted stock\t222489\t0\t0\t0\t\t0\t\t0\t0\t0\nCancellation of restricted stock\t(1079515)\t0\t0\t0\t\t0\t\t0\t0\t0\nRestricted units granted\t1649294\t0\t2\t0\t\t0\t\t0\t0\t2\nTax withholding - stock compensation\t(222163)\t0\t(1)\t0\t\t0\t\t0\t0\t(1)\nBalance at June 30 2020\t586593540\t6\t4730\t(3678)\t\t(33)\t\t44353224\t(202)\t823\nComprehensive loss:\t\t\t\t\t\t\t\t\t\t\nNet loss\t0\t0\t0\t(593)\t\t0\t\t0\t0\t(593)\nOther comprehensive income\t0\t0\t0\t0\t\t1\t\t0\t0\t1\nTotal comprehensive loss\t0\t0\t0\t0\t\t0\t\t0\t0\t(592)\nStock-based compensation\t0\t0\t1\t0\t\t0\t\t0\t0\t1\nIssuance of common stock\t63250000\t1\t151\t0\t\t0\t\t0\t0\t152\nIssuance of restricted stock\t63344\t0\t0\t0\t\t0\t\t0\t0\t0\nCancellation of restricted stock\t(5196)\t0\t0\t0\t\t0\t\t0\t0\t0\nTreasury stock\t0\t0\t0\t0\t\t0\t\t0\t0\t0\nTax withholding - stock compensation\t(2035)\t0\t0\t0\t\t0\t\t0\t0\t0\nBalance at Balance at September 31 2020\t649899653\t7\t4882\t(4271)\t\t(32)\t\t44353224\t(202)\t384\n", "q10k_tbl_6": "\tCommon Stock\t\tAdditional Paid-In Capital\tAccumulated Deficit\t\tAccumulated Other Comprehensive Income (Loss)\t\tCommon Stock in Treasury\t\tTotal\n\tShares Issued\tAmount\t\t\tShares\t\tAmount\t\n\t(in millions except share amounts)\t\t\t\t\t\t\t\t\t\nBalance at December 31 2018\t585407107\t6\t4715\t(2142)\t\t(36)\t\t39092537\t(181)\t2362\nComprehensive income:\t\t\t\t\t\t\t\t\t\t\nNet income\t0\t0\t0\t594\t\t0\t\t0\t0\t594\nOther comprehensive income\t0\t0\t0\t0\t\t0\t\t0\t0\t0\nTotal comprehensive income\t0\t0\t0\t0\t\t0\t\t0\t0\t594\nStock-based compensation\t0\t0\t3\t0\t\t0\t\t0\t0\t3\nIssuance of restricted stock\t8798\t0\t0\t0\t\t0\t\t0\t0\t0\nCancellation of restricted stock\t(128324)\t0\t0\t0\t\t0\t\t0\t0\t0\nTreasury stock\t0\t0\t0\t0\t\t0\t\t5260687\t(21)\t(21)\nPerformance units vested\t535802\t0\t0\t0\t\t0\t\t0\t0\t0\nTax withholding - stock compensation\t(274657)\t0\t(1)\t0\t\t0\t\t0\t0\t(1)\nBalance at March 31 2019\t585548726\t6\t4717\t(1548)\t\t(36)\t\t44353224\t(202)\t2937\nComprehensive income:\t\t\t\t\t\t\t\t\t\t\nNet income\t0\t0\t0\t138\t\t0\t\t0\t0\t138\nOther comprehensive income\t0\t0\t0\t0\t\t4\t\t0\t0\t4\nTotal comprehensive income\t0\t0\t0\t0\t\t0\t\t0\t0\t142\nStock-based compensation\t0\t0\t3\t0\t\t0\t\t0\t0\t3\nIssuance of restricted stock\t6424\t0\t0\t0\t\t0\t\t0\t0\t0\nCancellation of restricted stock\t(72555)\t0\t0\t0\t\t0\t\t0\t0\t0\nTax withholding - stock compensation\t(4250)\t0\t0\t0\t\t0\t\t0\t0\t0\nBalance at June 30 2019\t585478345\t6\t4720\t(1410)\t\t(32)\t\t44353224\t(202)\t3082\nComprehensive income:\t\t\t\t\t\t\t\t\t\t\nNet income\t0\t0\t0\t49\t\t0\t\t0\t0\t49\nOther comprehensive income\t0\t0\t0\t0\t\t1\t\t0\t0\t1\nTotal comprehensive income\t0\t0\t0\t0\t\t0\t\t0\t0\t50\nStock-based compensation\t0\t0\t3\t0\t\t0\t\t0\t0\t3\nIssuance of restricted stock\t205883\t0\t0\t0\t\t0\t\t0\t0\t0\nCancellation of restricted stock\t(33851)\t0\t0\t0\t\t0\t\t0\t0\t0\nTax withholding - stock compensation\t(12957)\t0\t0\t0\t\t0\t\t0\t0\t0\nBalance at Balance at September 30 2019\t585637420\t6\t4723\t(1361)\t\t(31)\t\t44353224\t(202)\t3135\n", "q10k_tbl_7": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\nSeverance (including payroll taxes)\t0\t1\t12\t4\nOffice consolidation\t0\t3\t0\t5\nTotal restructuring charges (1)\t0\t4\t12\t9\n", "q10k_tbl_8": "(in millions)\tE&P\tMarketing\tIntersegment Revenues\tTotal\nThree months ended September 30 2020\t\t\t\t\nGas sales\t190\t0\t9\t199\nOil sales\t39\t0\t1\t40\nNGL sales\t68\t0\t0\t68\nMarketing\t0\t495\t(276)\t219\nOther\t1\t0\t0\t1\nTotal\t298\t495\t(266)\t527\nThree months ended September 30 2019\t\t\t\t\nGas sales\t230\t0\t8\t238\nOil sales\t66\t0\t1\t67\nNGL sales\t52\t0\t0\t52\nMarketing\t0\t592\t(313)\t279\nTotal\t348\t592\t(304)\t636\n", "q10k_tbl_9": "(in millions)\tE&P\tMarketing\tIntersegment Revenues\tTotal\nNine months ended September 30 2020\t\t\t\t\nGas sales\t584\t0\t27\t611\nOil sales\t107\t0\t4\t111\nNGL sales\t158\t0\t0\t158\nMarketing\t0\t1432\t(787)\t645\nOther (1)\t4\t0\t0\t4\nTotal\t853\t1432\t(756)\t1529\nNine months ended September 30 2019\t\t\t\t\nGas sales\t918\t0\t25\t943\nOil sales\t151\t0\t2\t153\nNGL sales\t191\t0\t0\t191\nMarketing\t0\t2158\t(1154)\t1004\nOther (2)\t1\t1\t0\t2\nTotal\t1261\t2159\t(1127)\t2293\n", "q10k_tbl_10": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\nNortheast Appalachia\t131\t175\t443\t740\nSouthwest Appalachia\t166\t173\t409\t519\nOther\t1\t0\t1\t2\nTotal\t298\t348\t853\t1261\n", "q10k_tbl_11": "(in millions)\tSeptember 30 2020\tDecember 31 2019\nReceivables from contracts with customers\t218\t284\nOther accounts receivable\t21\t61\nTotal accounts receivable\t239\t345\n", "q10k_tbl_12": "(in millions)\tSeptember 30 2020\tDecember 31 2019\nCash\t93\t5\nMarketable securities (1)\t2\t0\nTotal\t95\t5\n", "q10k_tbl_13": "\tSeptember 30 2020\tSeptember 30 2019\nNatural gas (per MMBtu)\t1.97\t2.87\nOil (per Bbl)\t43.40\t57.77\nNGLs (per Bbl)\t9.26\t12.59\n", "q10k_tbl_14": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions except share/per share amounts)\t2020\t2019\t2020\t2019\nNet income (loss)\t(593)\t49\t(3020)\t781\n\t\t\t\t\nNumber of common shares:\t\t\t\t\nWeighted average outstanding\t571872413\t539221101\t551162559\t539315170\nIssued upon assumed exercise of outstanding stock options\t0\t0\t0\t0\nEffect of issuance of non-vested restricted common stock\t0\t187706\t0\t400120\nEffect of issuance of non-vested restricted units\t0\t0\t0\t0\nEffect of issuance of non-vested performance units\t0\t629380\t0\t727359\nWeighted average and potential dilutive outstanding\t571872413\t540038187\t551162559\t540442649\n\t\t\t\t\nEarnings per common share\t\t\t\t\nBasic\t(1.04)\t0.09\t(5.48)\t1.45\nDiluted\t(1.04)\t0.09\t(5.48)\t1.44\n", "q10k_tbl_15": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n\t2020\t2019\t2020\t2019\nUnexercised stock options\t4425886\t5102882\t4519385\t5115334\nUnvested share-based payment\t939941\t2136453\t946547\t1797963\nRestricted stock units\t1935781\t0\t2001621\t0\nPerformance units\t2282211\t240450\t2027985\t247443\nTotal\t9583819\t7479785\t9495538\t7160740\n", "q10k_tbl_16": "Three-way costless collars\tArrangements that contain a purchased put option a sold call option and a sold put option based on an index price that in aggregate have no net cost. At the contract settlement date (1) if the index price is higher than the sold call strike price the Company pays the counterparty the difference between the index price and sold call strike price (2) if the index price is between the purchased put strike price and the sold call strike price no payments are due from either party (3) if the index price is between the sold put strike price and the purchased put strike price the Company will receive the difference between the purchased put strike price and the index price and (4) if the index price is below the sold put strike price the Company will receive the difference between the purchased put strike price and the sold put strike price.\n\t\nBasis swaps\tArrangements that guarantee a price differential for natural gas from a specified delivery point. If the Company sells a basis swap the Company receives a payment from the counterparty if the price differential is greater than the stated terms of the contract and pays the counterparty if the price differential is less than the stated terms of the contract. If the Company purchases a basis swap the Company pays the counterparty if the price differential is greater than the stated terms of the contract and receives a payment from the counterparty if the price differential is less than the stated terms of the contract.\n\t\nCall options\tThe Company purchases and sells call options in exchange for a premium. If the Company purchases a call option the Company receives from the counterparty the excess (if any) of the market price over the strike price of the call option at the time of settlement but if the market price is below the call's strike price no payment is due from either party. If the Company sells a call option the Company pays the counterparty the excess (if any) of the market price over the strike price of the call option at the time of settlement but if the market price is below the call's strike price no payment is due from either party.\n\t\nInterest rate swaps\tInterest rate swaps were used to fix or float interest rates on existing or anticipated indebtedness. The purpose of these instruments was to manage the Company's existing or anticipated exposure to unfavorable interest rate changes. The Company's interest rate swaps expired in June 2020.\n", "q10k_tbl_17": "Financial Protection on Production\t\t\t\t\t\t\t\t\n\t\tWeighted Average Price per MMBtu\t\t\t\t\t\t\n\tVolume (Bcf)\tSwaps\tSold Puts\tPurchased Puts\tSold Calls\tBasis Differential\tFair Value at September 30 2020 (in millions)\t\nNatural Gas\t\t\t\t\t\t\t\t\n2020\t\t\t\t\t\t\t\t\nFixed price swaps\t91\t2.46\t0\t0\t0\t0\t16\t(1)\nTwo-way costless collars\t57\t0\t0\t2.45\t2.75\t0\t(7)\t\nThree-way costless collars\t25\t0\t2.19\t2.58\t2.96\t0\t(11)\t(2)\nTotal\t173\t\t\t\t\t\t(2)\t\n2021\t\t\t\t\t\t\t\t\nFixed price swaps\t93\t2.67\t0\t0\t0\t0\t(13)\t\nTwo-way costless collars\t166\t0\t0\t2.51\t2.89\t0\t(27)\t\nThree-way costless collars\t291\t0\t2.16\t2.49\t2.84\t0\t(113)\t(3)\nTotal\t550\t\t\t\t\t\t(153)\t\n2022\t\t\t\t\t\t\t\t\nFixed price swaps\t37\t2.75\t0\t0\t0\t0\t(2)\t\nTwo-way costless collars\t32\t0\t0\t2.17\t2.88\t0\t(5)\t\nThree-way costless collars\t116\t0\t2.07\t2.44\t2.87\t0\t(24)\t\nTotal\t185\t\t\t\t\t\t(31)\t\n2023\t\t\t\t\t\t\t\t\nThree-way costless collars\t25\t0\t2.07\t2.48\t3.18\t0\t(2)\t\nBasis Swaps\t\t\t\t\t\t\t\t\n2020\t66\t0\t0\t0\t0\t(0.37)\t21\t\n2021\t155\t0\t0\t0\t0\t(0.12)\t21\t\n2022\t127\t0\t0\t0\t0\t(0.38)\t4\t\nTotal\t348\t\t\t\t\t\t46\t\n", "q10k_tbl_18": "\tVolume (MBbls)\t\tWeighted Average Strike Price per Bbl\t\t\t\t\t\t\tFair Value at September 30 2020 (in millions)\n\t\tSwaps\t\tSold Puts\t\tPurchased Puts\t\tSold Calls\t\nOil\t\t\t\t\t\t\t\t\t\t\n2020\t\t\t\t\t\t\t\t\t\t\nFixed price swaps (1)\t584\t\t75.44\t\t0\t\t0\t\t0\t20\nTwo-way costless collars\t261\t\t0\t\t0\t\t56.76\t\t59.75\t4\nThree-way costless collars\t404\t\t0\t\t43.71\t\t52.85\t\t57.78\t3\nTotal\t1249\t\t\t\t\t\t\t\t\t27\n2021\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t2574\t\t52.84\t\t0\t\t0\t\t0\t27\nThree-way costless collars\t1445\t\t0\t\t43.52\t\t53.25\t\t58.14\t8\nTotal\t4019\t\t\t\t\t\t\t\t\t35\n2022\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t762\t\t48.85\t\t0\t\t0\t\t0\t4\nThree-way costless collars\t666\t\t0\t\t42.50\t\t53.20\t\t58.00\t2\nTotal\t1428\t\t\t\t\t\t\t\t\t6\n2023\t\t\t\t\t\t\t\t\t\t\nThree-way costless collars\t111\t\t0\t\t30.00\t\t40.00\t\t57.85\t0\nEthane\t\t\t\t\t\t\t\t\t\t\n2020\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t2629\t\t8.62\t\t0\t\t0\t\t0\t0\n2021\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t5889\t\t7.12\t\t0\t\t0\t\t0\t(12)\nTwo-way costless collar\t584\t\t0\t\t0\t\t7.14\t\t10.40\t0\nTotal\t6473\t\t\t\t\t\t\t\t\t(12)\n2022\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t190\t\t7.41\t\t0\t\t0\t\t0\t0\nTwo-way costless collar\t135\t\t0\t\t0\t\t7.56\t\t9.66\t0\nTotal\t325\t\t\t\t\t\t\t\t\t0\nPropane\t\t\t\t\t\t\t\t\t\t\n2020\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t1435\t\t23.11\t\t0\t\t0\t\t0\t2\nTwo-way costless collars\t92\t\t0\t\t0\t\t25.20\t\t29.40\t0\nTotal\t1527\t\t\t\t\t\t\t\t\t2\n2021\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t4298\t\t19.99\t\t0\t\t0\t\t0\t(3)\n2022\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t156\t\t19.25\t\t0\t\t0\t\t0\t0\nNormal Butane\t\t\t\t\t\t\t\t\t\t\n2020\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t195\t\t22.44\t\t0\t\t0\t\t0\t0\nNatural Gasoline\t\t\t\t\t\t\t\t\t\t\n2020\t\t\t\t\t\t\t\t\t\t\nFixed price swaps\t184\t\t34.59\t\t0\t\t0\t\t0\t0\n", "q10k_tbl_19": "Other Derivative Contracts\t\t\t\n\tVolume (Bcf)\tWeighted Average Strike Price per MMBtu\tFair Value at September 30 2020 (in millions)\nCall Options - Natural Gas (Net)\t\t\t\n2020\t6\t3.15\t(2)\n2021\t57\t3.15\t(17)\n2022\t58\t3.00\t(15)\n2023\t17\t2.84\t(4)\n2024\t9\t3.00\t(2)\nTotal\t147\t\t(40)\n", "q10k_tbl_20": "\tVolume (Bcf)\t\tWeighted Average Strike Price per MMBtu\t\t\tFair Value at September 30 2020 (in millions)\n\t\tSwaps\t\tBasis Differential\t\nStorage (1)\t\t\t\t\t\t\n2020\t\t\t\t\t\t\nPurchased fixed price swaps\t1\t\t1.94\t\t0\t0\nPurchased basis swaps\t0\t\t0\t\t(0.63)\t0\nFixed price swaps\t0\t\t2.09\t\t0\t0\nBasis swaps\t0\t\t0\t\t(0.70)\t0\nTotal\t1\t\t\t\t\t0\n2021\t\t\t\t\t\t\nPurchased fixed price swaps\t1\t\t2.04\t\t0\t0\nFixed price swaps\t2\t\t2.49\t\t0\t(1)\nBasis swaps\t1\t\t0\t\t(0.38)\t0\nTotal\t4\t\t\t\t\t(1)\n", "q10k_tbl_21": "Purchased Fixed Price Swaps - Marketing (Natural Gas) (1)\tVolume (Bcf)\tWeighted Average Strike Price per MMBtu\tFair Value at September 30 2020 (in millions)\n2020\t2\t2.44\t0\n2021\t6\t2.44\t3\nTotal\t8\t\t3\n", "q10k_tbl_22": "Derivative Assets\t\t\t\t\t\n\t\tFair Value\t\t\t\n(in millions)\tBalance Sheet Classification\tSeptember 30 2020\t\tDecember 31 2019\t\nDerivatives not designated as hedging instruments:\t\t\t\t\t\nPurchased fixed price swaps - natural gas\tDerivative assets\t3\t\t0\t\nFixed price swaps - natural gas\tDerivative assets\t21\t(1)\t77\t(1)\nFixed price swaps - oil\tDerivative assets\t42\t\t4\t\nFixed price swaps - ethane\tDerivative assets\t2\t\t11\t\nFixed price swaps - propane\tDerivative assets\t5\t\t21\t\nTwo-way costless collars - natural gas\tDerivative assets\t27\t\t10\t\nTwo-way costless collars - oil\tDerivative assets\t6\t\t5\t\nTwo-way costless collars - propane\tDerivative assets\t0\t\t2\t\nThree-way costless collars - natural gas\tDerivative assets\t64\t(2)\t126\t\nThree-way costless collars - oil\tDerivative assets\t19\t\t3\t\nBasis swaps - natural gas\tDerivative assets\t40\t\t17\t\nCall options - natural gas\tDerivative assets\t9\t\t1\t\nFixed price swaps - natural gas storage\tDerivative assets\t0\t\t1\t\nFixed price swaps - natural gas\tOther long-term assets\t1\t\t7\t\nFixed price swaps - oil\tOther long-term assets\t10\t\t1\t\nFixed price swaps - propane\tOther long-term assets\t1\t\t3\t\nTwo-way costless collars - natural gas\tOther long-term assets\t13\t\t4\t\nThree-way costless collars - natural gas\tOther long-term assets\t56\t\t74\t\nThree-way costless collars - oil\tOther long-term assets\t14\t\t7\t\nBasis swaps - natural gas\tOther long-term assets\t13\t\t15\t\nCall options - natural gas\tOther long-term assets\t4\t\t2\t\nTotal derivative assets\t\t350\t\t391\t\n", "q10k_tbl_23": "Derivative Liabilities\t\t\t\n\t\tFair Value\t\n(in millions)\tBalance Sheet Classification\tSeptember 30 2020\tDecember 31 2019\nDerivatives not designated as hedging instruments:\t\t\t\nPurchased fixed price swaps - natural gas\tDerivative liabilities\t0\t1\nFixed price swaps - natural gas\tDerivative liabilities\t15\t1\nFixed price swaps - oil\tDerivative liabilities\t1\t6\nFixed price swaps - ethane\tDerivative liabilities\t10\t0\nFixed price swaps - propane\tDerivative liabilities\t5\t0\nTwo-way costless collars - natural gas\tDerivative liabilities\t52\t4\nTwo-way costless collars - oil\tDerivative liabilities\t2\t5\nThree-way costless collars - natural gas\tDerivative liabilities\t164\t84\nThree-way costless collars - oil\tDerivative liabilities\t10\t4\nBasis swaps - natural gas\tDerivative liabilities\t3\t17\nCall options - natural gas\tDerivative liabilities\t24\t3\nFixed price swaps - natural gas storage\tDerivative liabilities\t1\t0\nFixed price swaps - natural gas\tLong-term derivative liabilities\t6\t0\nFixed price swaps - oil\tLong-term derivative liabilities\t0\t2\nFixed price swaps - ethane\tLong-term derivative liabilities\t4\t0\nFixed price swaps - propane\tLong-term derivative liabilities\t2\t0\nTwo-way costless collars - natural gas\tLong-term derivative liabilities\t27\t4\nThree-way costless collars - natural gas\tLong-term derivative liabilities\t106\t72\nThree-way costless collars - oil\tLong-term derivative liabilities\t10\t8\nBasis swap - natural gas\tLong-term derivative liabilities\t4\t9\nCall options - natural gas\tLong-term derivative liabilities\t29\t15\nCall options - oil\tLong-term derivative liabilities\t0\t1\nTotal derivative liabilities\t\t475\t236\n", "q10k_tbl_24": "Unsettled Gain (Loss) on Derivatives Recognized in Earnings\t\t\t\t\t\t\t\t\t\t\n\tConsolidated statement of Operations Classification of Gain (Loss) on Derivatives Unsettled\t\tFor the three months ended September 30\t\t\t\tFor the nine months ended September 30\t\t\t\nDerivative Instrument\t\t2020\t\t2019\t\t2020\t\t2019\t\n\t\t\t(in millions)\t\t\t\t\t\t\t\nPurchased fixed price swaps - natural gas\tGain (Loss) on Derivatives\t\t4\t\t0\t\t4\t\t0\t\nFixed price swaps - natural gas\tGain (Loss) on Derivatives\t\t(138)\t\t(19)\t\t(74)\t\t36\t\nFixed price swaps - oil\tGain (Loss) on Derivatives\t\t(20)\t\t8\t\t54\t\t5\t\nFixed price swaps - ethane\tGain (Loss) on Derivatives\t\t(13)\t\t1\t\t(23)\t\t8\t\nFixed price swaps - propane\tGain (Loss) on Derivatives\t\t(17)\t\t10\t\t(25)\t\t19\t\nTwo-way costless collars - natural gas\tGain (Loss) on Derivatives\t\t(34)\t\t(11)\t\t(45)\t\t(2)\t\nTwo-way costless collars - oil\tGain (Loss) on Derivatives\t\t(5)\t\t0\t\t4\t\t(3)\t\nTwo-way costless collars - propane\tGain (Loss) on Derivatives\t\t(1)\t\t1\t\t(2)\t\t3\t\nThree-way costless collars - natural gas\tGain (Loss) on Derivatives\t\t(98)\t(1)\t3\t\t(194)\t(1)\t27\t\nThree-way costless collars - oil\tGain (Loss) on Derivatives\t\t(4)\t\t3\t\t15\t\t4\t\nBasis swaps - natural gas\tGain (Loss) on Derivatives\t\t54\t\t12\t\t40\t\t6\t\nCall options - natural gas\tGain (Loss) on Derivatives\t\t(16)\t\t1\t\t(25)\t\t5\t\nCall options - oil\tGain (Loss) on Derivatives\t\t0\t\t0\t\t1\t\t0\t\nPurchased fixed price swap - natural gas storage\tGain (Loss) on Derivatives\t\t1\t\t0\t\t0\t\t0\t\nFixed price swap - natural gas storage\tGain (Loss) on Derivatives\t\t(2)\t\t2\t\t(2)\t\t1\t\nInterest rate swaps\tGain (Loss) on Derivatives\t\t0\t\t1\t\t0\t\t(1)\t\nTotal gain (loss) on unsettled derivatives\t\t\t(289)\t\t12\t\t(272)\t\t108\t\nSettled Gain (Loss) on Derivatives Recognized in Earnings (2)\t\t\t\t\t\t\t\t\t\t\n\tConsolidated statement of Operations Classification of Gain (Loss) on Derivatives Settled\t\tFor the three months ended September 30\t\t\t\tFor the nine months ended September 30\t\t\t\nDerivative Instrument\t\t2020\t\t2019\t\t2020\t\t2019\t\n\t\t\t(in millions)\t\t\t\t\t\t\t\nPurchased fixed price swaps - natural gas\tGain (Loss) on Derivatives\t\t(2)\t\t0\t\t(4)\t\t0\t\nFixed price swaps - natural gas\tGain (Loss) on Derivatives\t\t61\t(3)\t45\t\t150\t(3)\t53\t\nFixed price swaps - oil\tGain (Loss) on Derivatives\t\t17\t\t3\t\t44\t\t5\t\nFixed price swaps - ethane\tGain (Loss) on Derivatives\t\t(2)\t\t6\t\t6\t\t12\t\nFixed price swaps - propane\tGain (Loss) on Derivatives\t\t2\t\t11\t\t19\t\t20\t\nTwo-way costless collars - natural gas\tGain (Loss) on Derivatives\t\t(5)\t\t10\t\t1\t\t12\t\nTwo-way costless collars - oil\tGain (Loss) on Derivatives\t\t4\t\t2\t\t13\t\t4\t\nTwo-way costless collars - propane\tGain (Loss) on Derivatives\t\t0\t\t1\t\t2\t\t1\t\nThree-way costless collars - natural gas\tGain (Loss) on Derivatives\t\t0\t\t15\t\t43\t\t19\t\nThree-way costless collars - oil\tGain (Loss) on Derivatives\t\t1\t\t0\t\t5\t\t0\t\nBasis swaps - natural gas\tGain (Loss) on Derivatives\t\t20\t\t(3)\t\t29\t\t(11)\t\nCall options - natural gas\tGain (Loss) on Derivatives\t\t0\t\t(1)\t(4)\t0\t\t(2)\t(4)\nFixed price swaps - natural gas storage\tGain (Loss) on Derivatives\t\t1\t\t(1)\t\t2\t\t(1)\t\nTotal gain on settled derivatives\t\t\t97\t\t88\t\t310\t\t112\t\nTotal gain (loss) on derivatives\t\t\t(192)\t\t100\t\t38\t\t220\t\n", "q10k_tbl_25": "(in millions)\tPension and Other Postretirement\tForeign Currency\tTotal\nBeginning balance December 31 2019\t(19)\t(14)\t(33)\nOther comprehensive income before reclassifications\t0\t0\t0\nAmounts reclassified from other comprehensive income (1)\t1\t0\t1\nNet current-period other comprehensive income\t1\t0\t1\nEnding balance September 30 2020\t(18)\t(14)\t(32)\n", "q10k_tbl_26": "\tSeptember 30 2020\t\t\t\tDecember 31 2019\t\t\t\n(in millions)\tCarrying Amount\t\tFair Value\t\tCarrying Amount\t\tFair Value\t\nCash and cash equivalents\t95\t\t95\t\t5\t\t5\t\n2018 revolving credit facility due April 2024\t0\t\t0\t\t34\t\t34\t\nSenior notes (1)\t2471\t\t2429\t\t2228\t\t2085\t\nDerivative instruments net\t(125)\t(2)\t(125)\t(2)\t155\t(2)\t155\t(2)\n", "q10k_tbl_27": "\tSeptember 30 2020\t\t\t\n\tFair Value Measurements Using:\t\t\t\n(in millions)\tQuoted Prices in Active Markets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\tAssets (Liabilities) at Fair Value\nAssets\t\t\t\t\nPurchased fixed price swaps\t0\t3\t0\t3\nFixed price swaps (1)\t0\t82\t0\t82\nTwo-way costless collars\t0\t46\t0\t46\nThree-way costless collars (2)\t0\t153\t0\t153\nBasis swaps\t0\t53\t0\t53\nCall options\t0\t13\t0\t13\nLiabilities\t\t\t\t\nFixed price swaps\t0\t(43)\t0\t(43)\nTwo-way costless collars\t0\t(81)\t0\t(81)\nThree-way costless collars\t0\t(290)\t0\t(290)\nBasis swaps\t0\t(7)\t0\t(7)\nCall options\t0\t(53)\t0\t(53)\nFixed price swaps - storage\t0\t(1)\t0\t(1)\nTotal (3)\t0\t(125)\t0\t(125)\n", "q10k_tbl_28": "\tDecember 31 2019\t\t\t\n\tFair Value Measurements Using:\t\t\t\n(in millions)\tQuoted Prices in Active Markets (Level 1)\tSignificant Other Observable Inputs (Level 2)\tSignificant Unobservable Inputs (Level 3)\tAssets (Liabilities) at Fair Value\nAssets\t\t\t\t\nFixed price swaps (1)\t0\t124\t0\t124\nTwo-way costless collars\t0\t21\t0\t21\nThree-way costless collars\t0\t210\t0\t210\nBasis swaps\t0\t32\t0\t32\nCall options\t0\t3\t0\t3\nFixed price swaps - storage\t0\t1\t0\t1\nLiabilities\t\t\t\t\nPurchased fixed price swaps\t0\t(1)\t0\t(1)\nFixed price swaps\t0\t(9)\t0\t(9)\nTwo-way costless collars\t0\t(13)\t0\t(13)\nThree-way costless collars\t0\t(168)\t0\t(168)\nBasis swaps\t0\t(26)\t0\t(26)\nCall options\t0\t(19)\t0\t(19)\nTotal\t0\t155\t0\t155\n", "q10k_tbl_29": "\tSeptember 30 2020\t\t\t\t\n(in millions)\tDebt Instrument\tUnamortized Issuance Expense\t\tUnamortized Debt Discount\tTotal\nLong-term debt:\t\t\t\t\t\nVariable rate (1.60% at September 30 2020) 2018 revolving credit facility due April 2024\t0\t0\t(1)\t0\t0\n4.10% Senior Notes due March 2022\t207\t0\t\t0\t207\n4.95% Senior Notes due January 2025 (2)\t856\t(4)\t\t(1)\t851\n7.50% Senior Notes due April 2026\t618\t(6)\t\t0\t612\n7.75% Senior Notes due October 2027\t440\t(5)\t\t0\t435\n8.375% Senior Notes due September 2028 (3)\t350\t(5)\t\t0\t345\nTotal long-term debt\t2471\t(20)\t\t(1)\t2450\n\tDecember 31 2019\t\t\t\t\n(in millions)\tDebt Instrument\tUnamortized Issuance Expense\t\tUnamortized Debt Discount\tTotal\nLong-term debt:\t\t\t\t\t\nVariable rate (4.310% at December 31 2019) 2018 term loan facility due April 2024\t34\t0\t(1)\t0\t34\n4.10% Senior Notes due March 2022\t213\t(1)\t\t0\t212\n4.95% Senior Notes due January 2025 (2)\t892\t(5)\t\t(1)\t886\n7.50% Senior Notes due April 2026\t639\t(7)\t\t0\t632\n7.75% Senior Notes due October 2027\t484\t(6)\t\t0\t478\nTotal long-term debt\t2262\t(19)\t\t(1)\t2242\n", "q10k_tbl_30": "\tPayments Due by Period\t\t\t\t\t\n(in millions)\tTotal\tLess than 1 Year\t1 to 3 Years\t3 to 5 Years\t5 to 8 Years\tMore than 8 Years\nInfrastructure currently in service\t6704\t582\t1308\t1078\t1411\t2325\nPending regulatory approval and/or construction (1)\t405\t3\t9\t23\t52\t318\nTotal transportation charges\t7109\t585\t1317\t1101\t1463\t2643\n", "q10k_tbl_31": "\tConsolidated Statements of Operations Classification of Net Periodic Benefit Cost\t\tFor the three months ended September 30\t\t\t\tFor the nine months ended September 30\t\t\n(in millions)\t\t2020\t\t2019\t\t2020\t\t2019\nService cost\tGeneral and administrative expenses\t\t2\t\t1\t\t6\t\t5\nInterest cost\tOther Income (Loss) Net\t\t1\t\t2\t\t3\t\t4\nExpected return on plan assets\tOther Income (Loss) Net\t\t(2)\t\t(1)\t\t(5)\t\t(4)\nAmortization of prior service cost\tOther Income (Loss) Net\t\t0\t\t0\t\t0\t\t0\nAmortization of net loss\tOther Income (Loss) Net\t\t1\t\t0\t\t1\t\t1\nSettlement loss\tOther Income (Loss) Net\t\t0\t\t1\t\t0\t\t5\nNet periodic benefit cost\t\t\t2\t\t3\t\t5\t\t11\n", "q10k_tbl_32": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\nStock-based compensation cost - expensed\t2\t1\t8\t12\nStock-based compensation cost - capitalized\t2\t1\t3\t7\n", "q10k_tbl_33": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\nEquity-classified awards - expensed\t0\t2\t2\t6\nEquity-classified awards - capitalized\t1\t1\t1\t3\n", "q10k_tbl_34": "\tNumber of Options\tWeighted Average Exercise Price\n\t(in thousands)\t\nOutstanding at December 31 2019\t4635\t15.26\nGranted\t0\t0\nExercised\t0\t0\nForfeited or expired\t(357)\t7.06\nOutstanding at September 30 2020\t4278\t15.95\nExercisable at September 30 2020\t4278\t15.95\n", "q10k_tbl_35": "\tNumber of Shares\tWeighted Average Fair Value\n\t(in thousands)\t\nUnvested shares at December 31 2019\t1480\t7.00\nGranted\t570\t2.88\nVested\t(1083)\t5.30\nForfeited\t(246)\t7.71\nUnvested shares at September 30 2020\t721\t6.05\n", "q10k_tbl_36": "\tNumber of Units (1)\tWeighted Average Fair Value\n\t(in thousands)\t\nUnvested units at December 31 2019\t178\t10.47\nGranted\t0\t0\nVested\t(178)\t10.47\nForfeited\t0\t0\nUnvested units at September 30 2020\t0\t0\n", "q10k_tbl_37": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\nLiability-classified stock-based compensation cost - expensed\t2\t(1)\t6\t6\nLiability-classified stock-based compensation cost - capitalized\t1\t0\t2\t4\n", "q10k_tbl_38": "\tNumber of Units\tWeighted Average Fair Value\n\t(in thousands)\t\nUnvested units at December 31 2019\t12992\t2.42\nGranted\t6172\t1.41\nVested\t(3946)\t1.42\nForfeited\t(3060)\t1.53\nUnvested units at September 30 2020\t12158\t2.17\n", "q10k_tbl_39": "\tNumber of Units\tWeighted Average Fair Value\n\t(in thousands)\t\nUnvested units at December 31 2019\t5142\t2.42\nGranted\t6172\t1.41\nVested\t0\t0\nForfeited\t(2300)\t3.06\nUnvested units at September 30 2020\t9014\t2.10\n", "q10k_tbl_40": "\tNumber of Units\tWeighted Average Fair Value\n\t(in thousands)\t\nUnvested units at December 31 2019\t0\t0\nGranted\t20044\t1.00\nVested\t(100)\t1.00\nForfeited\t(729)\t1.00\nUnvested units at September 30 2020\t19215\t1.00\n", "q10k_tbl_41": "\tE&P\t\tMarketing\tOther\t\tTotal\n\t(in millions)\t\t\t\t\t\nThree months ended September 30 2020\t\t\t\t\t\t\nRevenues from external customers\t308\t\t219\t0\t\t527\nIntersegment revenues\t(10)\t\t276\t0\t\t266\nDepreciation depletion and amortization expense\t68\t\t2\t0\t\t70\nImpairments\t361\t\t0\t0\t\t361\nOperating loss\t(379)\t(1)\t(2)\t0\t\t(381)\nInterest expense (2)\t22\t\t0\t0\t\t22\nLoss on derivatives\t(192)\t\t0\t0\t\t(192)\nOther income net\t2\t\t0\t0\t\t2\nAssets\t3705\t(3)\t240\t212\t(4)\t4157\nCapital investments (5)\t223\t\t0\t0\t\t223\nThree months ended September 30 2019\t\t\t\t\t\t\nRevenues from external customers\t357\t\t279\t0\t\t636\nIntersegment revenues\t(9)\t\t313\t0\t\t304\nDepreciation depletion and amortization expense\t123\t\t2\t0\t\t125\nImpairments\t0\t\t2\t0\t\t2\nOperating loss\t(21)\t(1)\t(8)\t0\t\t(29)\nInterest expense (2)\t17\t\t0\t0\t\t17\nGain on derivatives\t100\t\t0\t0\t\t100\nGain on early extinguishment of debt\t0\t\t0\t7\t\t7\nOther income (loss) net\t(4)\t\t0\t2\t\t(2)\nProvision for income taxes (2)\t10\t\t0\t0\t\t10\nAssets\t6099\t(3)\t272\t227\t(4)\t6598\nCapital investments (5)\t239\t\t0\t1\t\t240\n", "q10k_tbl_42": "\tE&P\t\tMarketing\tOther\t\tTotal\nNine months ended September 30 2020\t(in millions)\t\t\t\t\t\nRevenues from external customers\t884\t\t645\t0\t\t1529\nIntersegment revenues\t(31)\t\t787\t0\t\t756\nDepreciation depletion and amortization expense\t260\t\t7\t0\t\t267\nImpairments\t2495\t\t0\t0\t\t2495\nOperating loss\t(2613)\t(1)\t(14)\t0\t\t(2627)\nInterest expense (2)\t63\t\t0\t0\t\t63\nGain on derivatives\t38\t\t0\t0\t\t38\nGain on early extinguishment of debt\t0\t\t0\t35\t\t35\nOther income net\t2\t\t0\t1\t\t3\nProvision for income taxes (2)\t406\t\t0\t0\t\t406\nAssets\t3705\t(3)\t240\t212\t(4)\t4157\nCapital investments (5)\t705\t\t0\t0\t\t705\nNine months ended September 30 2019\t\t\t\t\t\t\nRevenues from external customers\t1288\t\t1005\t0\t\t2293\nIntersegment revenues\t(27)\t\t1154\t0\t\t1127\nDepreciation depletion and amortization expense\t345\t\t7\t0\t\t352\nImpairments\t6\t\t2\t0\t\t8\nOperating income (loss)\t219\t(1)\t(13)\t0\t\t206\nInterest expense (2)\t46\t\t0\t0\t\t46\nGain on derivatives\t220\t\t0\t0\t\t220\nGain on early extinguishment of debt\t0\t\t0\t7\t\t7\nOther income (loss) net\t(8)\t\t0\t1\t\t(7)\nBenefit from income taxes (2)\t(401)\t\t0\t0\t\t(401)\nAssets\t6099\t(3)\t272\t227\t(4)\t6598\nCapital investments (5)\t931\t\t0\t2\t\t933\n", "q10k_tbl_43": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\nRevenues\t298\t348\t853\t1261\nOperating costs and expenses (1)\t677\t369\t3466\t1042\nOperating income (loss)\t(379)\t(21)\t(2613)\t219\nGain on derivatives settled (2)\t97\t88\t310\t112\n", "q10k_tbl_44": "\tThree months ended September 30\t\t\t\n(in millions except percentages)\tNatural Gas\tOil\tNGLs\tTotal\n2019 sales revenues\t230\t66\t52\t348\nChanges associated with prices\t(62)\t(21)\t9\t(74)\nChanges associated with production volumes\t22\t(6)\t7\t23\n2020 sales revenues (1)\t190\t39\t68\t297\nIncrease (decrease) from 2019\t(17)%\t(41)%\t31%\t(15)%\n", "q10k_tbl_45": "\tNine months ended September 30\t\t\t\n(in millions except percentages)\tNatural Gas\tOil\tNGLs\tTotal\n2019 sales revenues (2)\t918\t151\t191\t1260\nChanges associated with prices\t(412)\t(71)\t(55)\t(538)\nChanges associated with production volumes\t78\t27\t22\t127\n2020 sales revenues (3)\t584\t107\t158\t849\nDecrease from 2019\t(36)%\t(29)%\t(17)%\t(33)%\n", "q10k_tbl_46": "\tFor the three months ended September 30\t\tIncrease/(Decrease)\t\tFor the nine months ended September 30\t\t\tIncrease/(Decrease)\nProduction volumes:\t2020\t2019\t\t2020\t\t2019\t\t\nNatural Gas (Bcf)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNortheast Appalachia\t121\t118\t3%\t\t348\t\t343\t1%\t\t\t\t\t\t\nSouthwest Appalachia\t52\t40\t30%\t\t139\t\t106\t31%\t\t\t\t\t\t\nTotal\t173\t158\t9%\t\t487\t\t449\t8%\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOil (MBbls)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSouthwest Appalachia\t1290\t1413\t(9)%\t\t3764\t\t3193\t18%\t\t\t\t\t\t\nOther\t4\t6\t(33)%\t\t12\t\t17\t(29)%\t\t\t\t\t\t\nTotal\t1294\t1419\t(9)%\t\t3776\t\t3210\t18%\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNGL (MBbls)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSouthwest Appalachia\t6687\t5908\t13%\t\t18924\t\t17003\t11%\t\t\t\t\t\t\nOther\t0\t3\t(100)%\t\t2\t\t8\t(75)%\t\t\t\t\t\t\nTotal\t6687\t5911\t13%\t\t18926\t\t17011\t11%\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nProduction volumes by area: (Bcfe)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNortheast Appalachia\t121\t118\t3%\t\t348\t\t343\t1%\t\t\t\t\t\t\nSouthwest Appalachia\t100\t84\t19%\t\t275\t\t227\t21%\t\t\t\t\t\t\nTotal (1)\t221\t202\t9%\t\t623\t\t570\t9%\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nProduction percentage: (Bcfe)\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNatural gas\t78%\t78%\t\t\t78%\t\t79%\t\t\t\t\t\t\t\nOil\t4%\t4%\t\t\t4%\t\t3%\t\t\t\t\t\t\t\nNGL\t18%\t18%\t\t\t18%\t\t18%\t\t\t\t\t\t\t\n", "q10k_tbl_47": "\tFor the three months ended September 30\t\tIncrease/(Decrease)\t\tFor the nine months ended September 30\t\t\tIncrease/(Decrease)\n\t2020\t2019\t\t2020\t\t2019\t\t\nNatural Gas Price:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNYMEX Henry Hub Price ($/MMBtu) (1)\t1.98\t2.23\t(11)%\t\t1.88\t\t2.67\t(30)%\t\t\t\t\t\t\nDiscount to NYMEX (2)\t(0.89)\t(0.78)\t14%\t\t(0.68)\t\t(0.63)\t8%\t\t\t\t\t\t\nAverage realized gas price excluding derivatives ($/Mcf)\t1.09\t1.45\t(25)%\t\t1.20\t\t2.04\t(41)%\t\t\t\t\t\t\nGain (loss) on settled financial basis derivatives ($/Mcf)\t0.12\t(0.01)\t\t\t0.06\t\t(0.02)\t\t\t\t\t\t\t\nGain (loss) on settled commodity derivatives ($/Mcf)\t0.31\t0.43\t\t\t0.39\t\t0.18\t\t\t\t\t\t\t\nAverage realized gas price including derivatives ($/Mcf)\t1.52\t1.87\t(19)%\t\t1.65\t\t2.20\t(25)%\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nOil Price:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nWTI oil price ($/Bbl)\t40.93\t56.45\t(27)%\t\t38.32\t\t57.06\t(33)%\t\t\t\t\t\t\nDiscount to WTI\t(11.47)\t(9.91)\t16%\t\t(10.12)\t\t(9.92)\t2%\t\t\t\t\t\t\nAverage oil price excluding derivatives ($/Bbl)\t29.46\t46.54\t(37)%\t\t28.20\t\t47.14\t(40)%\t\t\t\t\t\t\nGain on settled derivatives ($/Bbl)\t17.23\t3.13\t\t\t16.77\t\t2.60\t\t\t\t\t\t\t\nAverage oil price including derivatives ($/Bbl)\t46.69\t49.67\t(6)%\t\t44.97\t\t49.74\t(10)%\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nNGL Price:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nAverage realized NGL price excluding derivatives ($/Bbl)\t10.34\t8.89\t16%\t\t8.37\t\t11.24\t(26)%\t\t\t\t\t\t\nGain on settled derivatives ($/Bbl)\t0.16\t3.04\t\t\t1.48\t\t1.94\t\t\t\t\t\t\t\nAverage realized NGL price including derivatives ($/Bbl)\t10.50\t11.93\t(12)%\t\t9.85\t\t13.18\t(25)%\t\t\t\t\t\t\nPercentage of WTI excluding derivatives\t25%\t16%\t\t\t22%\t\t20%\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nTotal Weighted Average Realized Price:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nExcluding derivatives ($/Mcfe)\t1.34\t1.72\t(22)%\t\t1.36\t\t2.21\t(38)%\t\t\t\t\t\t\nIncluding derivatives ($/Mcfe)\t1.78\t2.16\t(18)%\t\t1.86\t\t2.41\t(23)%\t\t\t\t\t\t\n", "q10k_tbl_48": "\tVolume (Bcf)\tBasis Differential\nBasis Swaps - Natural Gas\t\t\n2020\t66\t(0.37)\n2021\t155\t(0.12)\n2022\t127\t(0.38)\nTotal\t348\t\nPhysical NYMEX Sales Arrangements - Natural Gas\t\t\n2020\t85\t(0.21)\n2021\t181\t(0.26)\n2022\t35\t(0.37)\n2023\t18\t(0.35)\n2024\t15\t(0.50)\n2025\t12\t(0.50)\nTotal\t346\t\n", "q10k_tbl_49": "\tRemaining 2020\tFull Year 2021\tFull Year 2022\tFull Year 2023\nNatural gas (Bcf)\t173\t550\t185\t25\nOil (MBbls)\t1249\t4019\t1428\t111\nEthane (MBbls)\t2629\t6473\t325\t0\nPropane (MBbls)\t1527\t4298\t156\t0\nNormal Butane (MBbls)\t195\t0\t0\t0\nNatural Gasoline (MBbls)\t184\t0\t0\t0\nTotal financial protection on future production (Bcfe)\t208\t639\t196\t26\n", "q10k_tbl_50": "\tFor the three months ended September 30\t\t\tIncrease/(Decrease)\t\tFor the nine months ended September 30\t\t\t\tIncrease/(Decrease)\n(in millions except percentages)\t2020\t2019\t\t\t2020\t\t2019\t\t\t\nLease operating expenses\t203\t189\t\t7%\t\t579\t\t524\t\t10%\t\t\t\t\t\t\t\t\t\nGeneral & administrative expenses\t27\t39\t(1)\t(31)%\t\t79\t\t108\t(1)\t(27)%\t\t\t\t\t\t\t\t\t\nMontage acquisition-related expenses\t3\t0\t\t100%\t\t3\t\t0\t\t100%\t\t\t\t\t\t\t\t\t\nRestructuring charges\t0\t4\t\t(100)%\t\t12\t\t9\t\t33%\t\t\t\t\t\t\t\t\t\nTaxes other than income taxes\t15\t14\t\t7%\t\t38\t\t50\t\t(24)%\t\t\t\t\t\t\t\t\t\nFull cost pool amortization\t65\t123\t\t(47)%\t\t248\t\t328\t\t(24)%\t\t\t\t\t\t\t\t\t\nNon-full cost pool DD&A\t3\t0\t\t100%\t\t12\t\t17\t\t(29)%\t\t\t\t\t\t\t\t\t\nImpairments\t361\t0\t\t100%\t\t2495\t\t6\t\t41483%\t\t\t\t\t\t\t\t\t\nTotal operating costs\t677\t369\t\t83%\t\t3466\t\t1042\t\t233%\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_51": "\tFor the three months ended September 30\t\t\t\tIncrease/\tFor the nine months ended September 30\t\t\t\tIncrease/\nAverage unit costs per Mcfe:\t2020\t\t2019\t\t(Decrease)\t2020\t\t2019\t\t(Decrease)\nLease operating expenses (1)\t0.91\t\t0.94\t\t(3)%\t0.93\t\t0.92\t\t1%\nGeneral & administrative expenses\t0.12\t(2)\t0.15\t(3)\t(20)%\t0.13\t(2)\t0.17\t(3)\t(24)%\nTaxes other than income taxes\t0.07\t\t0.08\t\t(13)%\t0.06\t\t0.09\t\t(33)%\nFull cost pool amortization\t0.29\t\t0.58\t\t(50)%\t0.40\t\t0.57\t\t(30)%\n", "q10k_tbl_52": "\tFor the three months ended September 30\t\tIncrease/ (Decrease)\t\tFor the nine months ended September 30\t\t\tIncrease/ (Decrease)\n(in millions except volumes and percentages)\t2020\t2019\t\t2020\t\t2019\t\t\nMarketing revenues\t495\t592\t(16)%\t\t1432\t\t2158\t(34)%\t\t\t\t\t\t\t\t\t\nOther operating revenues\t0\t0\t-%\t\t0\t\t1\t(100)%\t\t\t\t\t\t\t\t\t\nMarketing purchases\t491\t592\t(17)%\t\t1429\t\t2148\t(33)%\t\t\t\t\t\t\t\t\t\nOperating costs and expenses\t6\t6\t-%\t\t17\t\t19\t(11)%\t\t\t\t\t\t\t\t\t\nImpairments\t0\t2\t(100)%\t\t0\t\t2\t(100)%\t\t\t\t\t\t\t\t\t\nLoss on sale of operating assets\t0\t0\t-%\t\t0\t\t3\t(100)%\t\t\t\t\t\t\t\t\t\nOperating loss\t(2)\t(8)\t(75)%\t\t(14)\t\t(13)\t8%\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nVolumes marketed (Bcfe)\t294\t279\t5%\t\t822\t\t823\t-%\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nPercent natural gas production marketed from affiliated E&P operations\t88%\t81%\t\t\t87%\t\t77%\t\t\t\t\t\t\t\t\t\t\nPercent oil and NGL production marketed from affiliated E&P operations\t83%\t73%\t\t\t81%\t\t74%\t\t\t\t\t\t\t\t\t\t\n", "q10k_tbl_53": "\tFor the three months ended September 30\t\tIncrease/(Decrease)\t\tFor the nine months ended September 30\t\t\tIncrease/(Decrease)\n(in millions except percentages)\t2020\t2019\t\t2020\t\t2019\t\t\nGross interest expense:\t\t\t\t\t\t\t\t\t\t\t\t\t\t\nSenior notes\t39\t39\t-%\t\t112\t\t117\t(4)%\t\t\t\t\t\t\nCredit arrangements\t4\t2\t100%\t\t11\t\t7\t57%\t\t\t\t\t\t\nAmortization of debt costs\t2\t3\t(33)%\t\t7\t\t6\t17%\t\t\t\t\t\t\nTotal gross interest expense\t45\t44\t2%\t\t130\t\t130\t-%\t\t\t\t\t\t\nLess: capitalization\t(23)\t(27)\t(15)%\t\t(67)\t\t(84)\t(20)%\t\t\t\t\t\t\nNet interest expense\t22\t17\t29%\t\t63\t\t46\t37%\t\t\t\t\t\t\n", "q10k_tbl_54": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\t\t\t\t\t\t\nGain (loss) on unsettled derivatives\t(289)\t12\t(272)\t108\t\t\t\t\t\t\nGain on settled derivatives\t97\t88\t310\t112\t\t\t\t\t\t\nGain (loss) on derivatives\t(192)\t100\t38\t220\t\t\t\t\t\t\n", "q10k_tbl_55": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions except percentages)\t2020\t2019\t2020\t2019\t\t\t\t\t\t\nIncome tax (benefit) expense\t0\t10\t406\t(401)\t\t\t\t\t\t\nEffective tax rate\t0%\t18%\t(16)%\t(105)%\t\t\t\t\t\t\n", "q10k_tbl_56": "\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\nNet cash provided by operating activities\t407\t739\nNet cash used in investing activities\t(698)\t(835)\nNet cash provided by (used in) financing activities\t381\t(76)\n", "q10k_tbl_57": "\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\nNet cash provided by operating activities\t407\t739\nAdd back (subtract) changes in working capital\t(9)\t(88)\nNet cash provided by operating activities net of changes in working capital\t398\t651\n", "q10k_tbl_58": "\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\nAdditions to properties and equipment\t700\t877\nAdjustments for capital investments\t\t\nChanges in capital accruals\t1\t52\nOther (1)\t4\t4\nTotal capital investment\t705\t933\n", "q10k_tbl_59": "\tFor the three months ended September 30\t\tIncrease/(Decrease)\t\tFor the nine months ended September 30\t\t\tIncrease/(Decrease)\n(in millions except percentages)\t2020\t2019\t\t2020\t\t2019\t\t\nE&P capital investment\t223\t239\t(7)%\t\t705\t\t931\t(24)%\t\t\t\t\t\t\nOther capital investment (1)\t0\t1\t(100)%\t\t0\t\t2\t(100)%\t\t\t\t\t\t\nTotal capital investment\t223\t240\t(7)%\t\t705\t\t933\t(24)%\t\t\t\t\t\t\n", "q10k_tbl_60": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n(in millions)\t2020\t2019\t2020\t2019\t\t\t\t\t\t\nE&P Capital Investments by Type:\t\t\t\t\t\t\t\t\t\t\nExploratory and development drilling including workovers\t163\t176\t550\t711\t\t\t\t\t\t\nAcquisition of properties\t15\t9\t29\t32\t\t\t\t\t\t\nSeismic expenditures\t0\t0\t0\t2\t\t\t\t\t\t\nWater infrastructure project\t5\t6\t8\t32\t\t\t\t\t\t\nOther\t3\t3\t12\t14\t\t\t\t\t\t\nCapitalized interest and expenses\t37\t45\t106\t140\t\t\t\t\t\t\nTotal E&P capital investments\t223\t239\t705\t931\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\nE&P Capital Investments by Area:\t\t\t\t\t\t\t\t\t\t\nNortheast Appalachia\t98\t74\t299\t306\t\t\t\t\t\t\nSouthwest Appalachia\t117\t154\t386\t575\t\t\t\t\t\t\nOther E&P (1)\t8\t11\t20\t50\t\t\t\t\t\t\nTotal E&P capital investments\t223\t239\t705\t931\t\t\t\t\t\t\n", "q10k_tbl_61": "\tFor the three months ended September 30\t\tFor the nine months ended September 30\t\n\t2020\t2019\t2020\t2019\nGross Operated Well Count Summary:\t\t\t\t\nDrilled\t16\t24\t84\t95\nCompleted\t25\t30\t78\t101\nWells to sales\t30\t34\t73\t89\n", "q10k_tbl_62": "\tPayments Due by Period\t\t\t\t\t\n(in millions)\tTotal\tLess than 1 Year\t1 to 3 Years\t3 to 5 Years\t5 to 8 years\tMore than 8 Years\nInfrastructure currently in service\t6704\t582\t1308\t1078\t1411\t2325\nPending regulatory approval and/or construction (1)\t405\t3\t9\t23\t52\t318\nTotal transportation charges\t7109\t585\t1317\t1101\t1463\t2643\n", "q10k_tbl_63": "\tExpected Maturity Date\t\t\t\t\t\n($ in millions)\t2021\t2022\t2023\t2024\t2025\tThereafter\tTotal\t\t\nFixed rate payments (1)\t0\t207\t0\t0\t856\t1408\t2471\t\t\nWeighted average interest rate\t-%\t4.10%\t-%\t-%\t6.45%\t7.80%\t7.02%\t\t\n\t\t\t\t\t\t\t\t\t\nVariable rate payments (1)\t0\t0\t0\t0\t0\t0\t0\t\t\nWeighted average interest rate\t-%\t-%\t-%\t-%\t-%\t-%\t-%\t\t\n", "q10k_tbl_64": "(2.1)\tAgreement and Plan of Merger dated as of August 12 2020 by and between Southwestern Energy Company and Montage Resources Corporation (Incorporated by reference to Exhibit 2.1 to the Registrant's Current Report on Form 8-K/A filed on August 12 2020)\n(3.1)\tAmended and Restated Certificate of Incorporation of Southwestern Energy Company. (Incorporated by reference to Exhibit 3.1 to the Registrant's Current Report on Form 8-K filed May 24 2010)\n(3.2)\tAmended and Restated Bylaws of Southwestern Energy Company as amended on April 28 2020 (Incorporated by reference to Exhibit 3.2 to the Registrant's Quarterly Report on Form 10-Q filed April 30 2020)\n(4.1)\tFourth Supplemental Indenture dated as of August 27 2020 among Southwestern Energy Company U.S. Bank National Association as trustee and the guarantors named therein (Incorporated by reference to Exhibit 4.2 to the Registrant's Current Report on Form 8-K filed August 27 2020)\n(4.2)\tForm of 8.375% Notes due 2028 (Incorporated by reference to Exhibit 4.3 to the Registrant's Current Report on Form 8-K filed August 27 2020)\n(10.1)\tSupport Agreement dated as of August 12 2020 by and among certain stockholders affiliated with EnCap Investments L.P. and Southwestern Energy Company (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed August 12 2020)\n(10.2)*\tAmendment No. 6 to Credit Agreement dated as of July 31 2020 among Southwestern Energy Company the lenders party thereto and JP Morgan Chase Bank N.A. as administrative agent for the lenders\n(10.3)\tAmendment No. 7 to Credit Agreement dated as of August 18 2020 among Southwestern Energy Company the lenders party thereto and JP Morgan Chase Bank N.A. as administrative agent for the lenders (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed August 20 2020)\n(10.4)\tAmendment No. 8 to Credit Agreement dated as of October 8 2020 among Southwestern Energy Company the lenders party thereto and JP Morgan Chase Bank N.A. as administrative agent for the lenders (Incorporated by reference to Exhibit 10.1 to the Registrant's Current Report on Form 8-K filed October 8 2020)\n(31.1)*\tCertification of CEO filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\n(31.2)*\tCertification of CFO filed pursuant to Section 302 of the Sarbanes-Oxley Act of 2002\n(32.1)*\tCertification of CEO furnished pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\n(32.2)*\tCertification of CFO furnished pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002\n(95.1)*\tMine Safety Disclosure\n(101.INS)\tInline Interactive Data File Instance Document\n(101.SCH)\tInline Interactive Data File Schema Document\n(101.CAL)\tInline Interactive Data File Calculation Linkbase Document\n(101.LAB)\tInline Interactive Data File Label Linkbase Document\n(101.PRE)\tInline Interactive Data File Presentation Linkbase Document\n(101.DEF)\tInline Interactive Data File Definition Linkbase Document\n(104.1)\tCover Page Interactive Data File - the cover page from this Quarterly Report on Form 10-Q formatted in inline XBRL (included within the Exhibit 101 attachments)\n"}{"bs": "q10k_tbl_3", "is": "q10k_tbl_1", "cf": "q10k_tbl_4"}None
☒ Quarterly Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the quarterly period ended September 30, 2020
Or
☐ Transition Report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the transition period from ________ to ________
Commission file number: 001-08246
Southwestern Energy Company
(Exact name of registrant as specified in its charter)
Delaware
71-0205415
(State or other jurisdiction of incorporation or organization)
(I.R.S. Employer Identification No.)
10000 Energy Drive
Spring, Texas77389
(Address of principal executive offices)(Zip Code)
(832) 796-1000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, Par Value $0.01
SWN
New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
☒
Accelerated filer
☐
Non-accelerated filer
☐
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:
CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS
All statements, other than historical fact or present financial information, may be deemed to be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements that address activities, outcomes and other matters that should or may occur in the future, including, without limitation, statements regarding the financial position, business strategy, production and reserve growth and other plans and objectives for our future operations, are forward-looking statements. Although we believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance. We have no obligation and make no undertaking to publicly update or revise any forward-looking statements, except as may be required by law.
Forward-looking statements include the items identified in the preceding paragraph, information concerning possible or assumed future results of operations and other statements in this Quarterly Report on Form 10-Q (this “Quarterly Report”) identified by words such as “anticipate,” “intend,” “plan,” “project,” “estimate,” “continue,” “potential,” “should,” “could,” “may,” “will,” “objective,” “guidance,” “outlook,” “effort,” “expect,” “believe,” “predict,” “budget,” “projection,” “goal,” “forecast,” “model,” “target” or similar words.
You should not place undue reliance on forward-looking statements. They are subject to known and unknown risks, uncertainties and other factors that may affect our operations, markets, products, services and prices and cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In addition to any assumptions and other factors referred to specifically in connection with forward-looking statements, risks, uncertainties and factors that could cause our actual results to differ materially from those indicated in any forward-looking statement include, but are not limited to:
•the timing and extent of changes in market conditions and prices for natural gas, oil and natural gas liquids (“NGLs”), including regional basis differentials and the impact of reduced demand for our production and products in which our production is a component due to governmental and societal actions taken in response to the COVID-19 pandemic;
•our ability to fund our planned capital investments;
•a change in our credit rating, an increase in interest rates and any adverse impacts from the discontinuation of the London Interbank Offered Rate (“LIBOR”);
•the extent to which lower commodity prices impact our ability to service or refinance our existing debt;
•the impact of volatility in the financial markets or other global economic factors, including the impact of COVID-19;
•difficulties in appropriately allocating capital and resources among our strategic opportunities;
•the timing and extent of our success in discovering, developing, producing and estimating reserves;
•our ability to maintain leases that may expire if production is not established or profitably maintained;
•our ability to realize the expected benefits from acquisitions, including the Merger (as defined below);
•the consummation of or failure to consummate the Merger and the timing thereof;
•costs in connection with the Merger;
•integration of operations and results subsequent to the Merger;
•our ability to refinance the Montage Notes (as defined below) and the borrowings under Montage’s senior secured revolving credit facility;
•our ability to transport our production to the most favorable markets or at all;
•availability and costs of personnel and of products and services provided by third parties;
•the impact of government regulation, including changes in law, the ability to obtain and maintain permits, any increase in severance or similar taxes, and legislation or regulation relating to hydraulic fracturing, climate and over-the-counter derivatives;
•the impact of the adverse outcome of any material litigation against us or judicial decisions that affect us or our industry generally;
•the effects of weather;
•increased competition;
•the financial impact of accounting regulations and critical accounting policies;
•the comparative cost of alternative fuels;
•credit risk relating to the risk of loss as a result of non-performance by our counterparties; and
•any other factors listed in the reports we have filed and may file with the Securities and Exchange Commission (“SEC”).
Should one or more of the risks or uncertainties described above or elsewhere in this Quarterly Report occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. We specifically disclaim all responsibility to update publicly any information contained in a forward-looking statement or any forward-looking statement in its entirety and therefore disclaim any resulting liability for potentially related damages.
All forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary statement.
Change in value of pension and other postretirement liabilities:
Amortization of prior service cost and net loss included in net periodic pension cost (1)
1
1
1
5
Comprehensive income (loss)
$
(592)
$
50
$
(3,019)
$
786
(1)Tax benefits for the three months ended September 30, 2020 were immaterial. Net of less than$1 million in tax benefits for the nine months ended September 30, 2020 and the three months ended September 30, 2019 and $2 million in tax benefits for the nine months ended September 30, 2019. In 2019, primarily related to settlement of pension assets.
The accompanying notes are an integral part of these consolidated financial statements.
Natural gas and oil properties, using the full cost method, including $1,379 million as of September 30, 2020 and $1,506 million as of December 31, 2019 excluded from amortization
25,969
25,250
Other
500
520
Less: Accumulated depreciation, depletion and amortization
Common stock, $0.01 par value; 1,250,000,000 shares authorized; issued 649,899,653 shares as of September 30, 2020 and 585,555,923 shares as of December 31, 2019
7
6
Additional paid-in capital
4,882
4,726
Accumulated deficit
(4,271)
(1,251)
Accumulated other comprehensive loss
(32)
(33)
Common stock in treasury, 44,353,224 shares as of September 30, 2020 and December 31, 2019
(202)
(202)
Total equity
384
3,246
TOTAL LIABILITIES AND EQUITY
$
4,157
$
6,717
The accompanying notes are an integral part of these consolidated financial statements.