Southwestern Energy sells gathering assets in Northeast Pennsylvania

Southwestern Energy Co. (NYSE: SWN) has executed a definitive purchase and sale agreement with Howard Midstream Energy Partners LLC to sell Southwestern Energy's gathering assets located in Bradford and Lycoming counties in northeastern Pennsylvania for $500 million. The assets include 100 miles of natural gas gathering pipeline, with nearly 600 million cubic feet per day of capacity. 

The proceeds from the transaction will be used to repay borrowings under Southwestern Energy's $500 million term loan facility that matures in December 2016. The transaction is expected to close in the second quarter of 2015.

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