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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) October 19, 1999
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SOUTHWESTERN ENERGY COMPANY
(Exact name of registrant as specified in its charter)
Arkansas 1 - 8246 71-0205415
(State of incorporation (Commission (I.R.S. Employer
or organization) File Number) Identification No.)
1083 Sain Street, P.O. Box 1408, Fayetteville, Arkansas 72702-1408
(Address of principal executive offices, including zip code)
(501) 521-1141
(Registrant's telephone number, including area code)
No Change
(Former name, former address and former fiscal year; if changed
since last report)
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<PAGE>
Item 5.
Other Events
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Reference is made to the press release issued October 19, 1999, filed
herewith as Exhibit 1.
Item 7.(c)
Exhibits Reference
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(1) Press release dated October 19, 1999 p. 3
SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
SOUTHWESTERN ENERGY COMPANY
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(Registrant)
DATE: October 19, 1999 BY: /s/ GREGORY D. KERLEY
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Gregory D. Kerley
Senior Vice President -- Finance
and Chief Financial Officer
NEWS RELEASE
For Further Information Contact:
Greg D. Kerley
Senior Vice President
and Chief Financial Officer
(501) 521-1141
SOUTHWESTERN ANNOUNCES SALE OF MISSOURI UTILITY PROPERTIES
Sale Strengthens Focus on Adding Value From Core Areas of Operation
FAYETTEVILLE, ARKANSAS - October 19, 1999...Southwestern Energy Company
(NYSE: SWN) announced today that it has signed a definitive agreement to sell
its Missouri gas distribution assets to Atmos Energy Corporation (NYSE: ATO) for
$32.0 million. The transaction is subject to regulatory approval from the
Missouri Public Service Commission and the Federal Energy Regulatory Commission
and compliance with the Hart-Scott-Rodino Act.
The Missouri assets are part of Associated Natural Gas Company
(Associated), a division of Arkansas Western Gas Company, which is a
wholly-owned subsidiary of Southwestern. In Missouri, Associated employs 91
people and serves approximately 48,000 residential, commercial and industrial
customers, primarily located near the towns of Sikeston, Kirksville, Butler and
Jackson. Arkansas Western Gas Company serves approximately 131,000 customers in
Arkansas and will continue to own and operate Associated's assets that are
located in that state.
"The sale of our Missouri utility properties is part of our ongoing
strategy to focus our efforts in core operating areas where we have a
competitive advantage. In addition, this transaction will reduce our long-term
debt and strengthen our capital structure," stated Harold M. Korell, President
and Chief Executive Officer of Southwestern. "We are grateful for the dedication
and hard work of all our Associated employees and want to express special thanks
to our Missouri employees that will now become a part of Atmos."
"This transaction is consistent with Atmos' long-term corporate
development strategy of increasing the value of the Company through strategic
acquisitions," said Robert W. Best, Chairman, President and Chief Executive
Officer of Atmos Energy Corporation. "The addition of Southwestern Energy's
48,000 customers in Missouri increases our presence in that state and provides
economies of scale which will result in a greater competitive advantage."
Southwestern Energy Company is an integrated natural gas company whose
wholly-owned subsidiaries are engaged in gas and oil exploration and production,
natural gas gathering, transmission, and marketing, and natural gas
distribution. Additional information on the Company can be found on the Internet
at http://www.swn.com.
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