Southwestern Energy cancels short-term credit facility

By Susanna Moon

Chicago, Feb. 26 - Southwestern Energy Co. canceled its commitment under its short-term credit facility due June 27, 2008 with the Royal Bank of Scotland plc, according to an 8-K filing with the Securities and Exchange Commission.

The commitment under the credit facility had been reduced in accordance with its terms from $200 million to $100 million upon the company's consummation of its private placement of senior notes in January.

The company said there were no amounts outstanding under the credit facility and the company paid no early termination penalties.

Royal Bank of Scotland is also a lender under the company's revolving credit facility.

Southwestern Energy is a Houston-based oil and gas exploration and production and natural gas gathering and marketing company.

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