Marathon Petroleum reached a deal to sell its Speedway segment to 7-Eleven for $21 billion in cash, which will result in $16.5 billion in after-tax cash proceeds once the deal closes in the first quarter of 2021.
The deal also includes a 15-year fuel supply agreement for 7.7 billion gallons of annual gasoline to the Speedway business.
Southwestern Energy reported second quarter 2020 net production of 2.2 Bcfe/d, flat with 1Q volumes. Looking ahead, they forecast volumes to rise to 2.4 Bcfe/d in 3Q and then 2.5 Bcfe/d in 4Q.
SWN's gas production totaled 1,736 Mmcf/d in the second quarter and will now rise to a fourth quarter average of 1,961 Mmcf/d.