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swn Southwestern Energy® NEWS RELEASE ● SPRING , Texas – April 29 , 2021 ... Southwestern Energy Company ( NYSE : SWN ) today announced financial and operating results for the first quarter ended March 31 , 2021 . ● ● SOUTHWESTERN ENERGY ANNOUNCES FIRST QUARTER 2021 RESULTS Strategy and execution delivering free cash flow and reducing debt Achieved $ 347 million net cash provided by operating activities ; invested $ 266 million consistent with its maintenance capital plan ; Generated $ 88 million free cash flow ( non - GAAP ) ; Free cash flow fully utilized to reduce debt ; expect to approach 2.0x leverage by year end ; Borrowing base and commitments reaffirmed at elected $ 2.0 billion ; Reported total production of 269 Bcfe , or 3.0 Bcfe per day , including 2.4 Bcf per day of gas and 103 MBbls per day of liquids ; Received weighted average realized price ( excluding transportation ) of $ 2.99 per Mcfe ; and Approximately 80 % of annual natural gas production protected from impacts of widening Appalachia differentials through transportation capacity and basis hedges . " The Company's returns - driven strategy is underpinned by a lower cost structure , improving operational performance , a strong balance sheet , the generation of free cash flow and capturing the benefits of scale , all while operating safely and responsibly . In the first quarter , we delivered on each of these aspects of our strategy . Our teams continue to innovate and create opportunities to further improve results , " said Bill Way , Southwestern Energy President and Chief Executive Officer . Financial Results ( in millions ) Net income ( loss ) Adjusted net income ( non - GAAP ) Diluted earnings ( loss ) per share Adjusted diluted earnings per share ( non - GAAP ) Adjusted EBITDA ( non - GAAP ) Net cash provided by operating activities Net cash flow ( non - GAAP ) For the three months ended March 31 , 2021 80 196 Corporate Office P.O. Box 12359 Spring , Texas 77391-2359 www.swn.com $ 0.12 0.29 382 347 354 266 LA LA LA LA LA LA LA LA ( 1,547 ) 56 ( 2.86 ) 0.10 206 160 191 Total capital investments ( 1 ) 237 ( 1 ) Capital investments include increases of $ 38 million and $ 8 million for the three months ended March 31 , 2021 and 2020 , respectively , relating to the change in capital accruals between periods . $ $ $ $ $ 2020 For the quarter ended March 31 , 2021 , Southwestern Energy recorded net income of $ 80 million , or $ 0.12 per diluted share , compared to a net loss in 2020 of $ 1.5 billion , or ( $ 2.86 )