Southwestern Energy to Move Headquarters

Southwestern Energy Co. said today that it will relocate its corporate headquarters to Houston, Texas, but the company’s gas utility, Arkansas Western Gas Co., will remain in Fayetteville.

The move is to emphasize Southwestern’s pledge to develop its oil and gas exploration and production ventures.

As part of the move to Houston, the company promoted Richard F. Lane to senior vice president from his position as vice president of exploration. Effective Feb. 28, Lane will replace Alan H. Stevens, president of Southwestern Energy Production Co. and SEECO Inc.

Houston is home to about 30 mid- to large-capital E&P companies, and Southwestern Energy has scouted the area since Harold Korell became CEO in January 1999. E&P offices for Southwestern have been licensed for business in Houston since 1978.

Southwestern Energy employs more than 650 people in northwest Arkansas. Korell said last year that some jobs would be lost with a move to Houston, but the company has declared no definite numbers.

Shares of Southwestern Energy of Fayetteville (NYSE: SWN) were trading at $9.36 Tuesday, after closing at $9.37 on Monday.