Southwestern Energy Co. to Relocate
by February 19, 2001 12:00 am 64 views
Southwestern Energy Co. recently announced that it will relocate its corporate headquarters to Houston but the company’s gas utility, Arkansas Western Gas Co., will keep its location in Fayetteville. The move emphasizes Southwestern’s pledge to develop its oil and gas exploration and production ventures.
Complementing the plan to move to Houston, the company also announced the promotion of Richard F. Lane to senior vice president from his position as vice president of exploration. Effective Feb. 28, Lane replaces Alan H. Stevens, president of Southwestern Energy Production Co. and SEECO Inc.
Houston is home to an estimated 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 the city 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 no definite numbers have been declared.
Forfeiting a big company like Southwestern Energy will hurt Northwest Arkansas’ overall business stance.
“We will still have a presence in Arkansas for sure, but nothing like we have now,” Korell said last year.