Southwestern Energy Company reported that its Board of Directors has declared a two-for-one stock split. The Board of Directors established March 14, 2008, as the record date and March 25, 2008, as the date upon which the additional shares will be distributed to shareholders. As of February 22, 2008, Southwestern had approximately 170,971,532 million shares of common stock outstanding. Southwestern's transfer agent, Computershare Trust Company, N.A., will distribute the new shares.
"In light of the significant opportunity set in front of us in the Fayetteville Shale, and our continuing strong operational and financial performance, our Board of Directors has determined that a split of the company's stock is appropriate at this time," stated Harold M. Korell, President and Chief Executive Officer of Southwestern.
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