SWN - Southwestern Energy: An Underfollowed Shale Driller With Positive FCF

• Southwestern Energy owns a substantial quantity of leases in the very rich Marcellus and Haynesville shales.
• The company has been working very hard to reduce its expenses, which has allowed it to generate positive free cash flow.
• Natural gas has very strong fundamentals as an increasing fear of global warming is causing governments to prefer it over coal for electric generation.
• The company's negative shareholder equity is worrying but its positive free cash flow helps to offset that concern.
• The company does not appear to be the cheapest of its peers but it is still a much better value than a few other companies.

For further details see: