Southwestern Energy Offers Capital Update, Volume Outlook for 2013

Southwestern Energy Company (NYSE: SWN)today announced its total capital investment program in 2013 is planned to beapproximately $2.0 billion, compared to approximately $2.1 billion in 2012,consisting of approximately $1.8 billion for its exploration and productionsegment, $160 million for its midstream segment and $40 million for corporatepurposes.Southwestern is targeting total net gas and oil production of 628 to 640 Bcfein 2013, up approximately 11 to 13% over the company's expected 2012 level.Gross operated production is expected to grow approximately 4% in theFayetteville Shale in 2013, however the company's net revenue interest isexpected to change from approximately 64% in 2012 to 61% in 2013. As a result,total net production from the Fayetteville Shale in 2013 is expected to be 475to 480 Bcf, compared to 484 to 486 Bcf in 2012. The change in net revenueinterest in 2013 reflects the move to increased drilling on the eastern sideof the field however, longer term, the company's average net revenue interestis expected to be approximately 64%. In the Marcellus Shale, the companyexpects its average net revenue interest to remain the same in 2013, resultingin both gross and net production more than doubling from 63 to 65 gross Bcf(53 to 55 net Bcf) in 2012 to 160 to 165 gross Bcf (134 to 139 net Bcf) in2013.