Southwestern Energy to Sell Shale Business

Oil and gas producer Southwestern Energy Co said on Tuesday it would sell its Fayetteville shale business to privately owned Flywheel Energy LLC in an all-cash deal for about $1.87 billion.

As part of the deal, Flywheel will assume $438 million of future contractual liabilities. The transaction is effective July 1 and is expected to close in December.

Reporting by Shanti S Nair in Bengaluru