Southwestern Energy Company (NYSE:SWN) Q3 2022 Earnings Conference Call October 28, 2022 10:30 AM ET
Company Participants
Brittany Raiford - Director, Investor Relations
Bill Way - President & Chief Executive Officer
Clay Carrell - Chief Operating Officer
Carl Giesler - Chief Financial Officer
Conference Call Participants
Doug Leggate - Bank of America
Charles Meade - Johnson Rice
Scott Hanold - RBC
Paul Diamond - Citi
Nick Pope - Seaport
Neal Dingmann - Truist Securities
Umang Choudhary - Goldman Sachs
Subash Chandra - The Benchmark
Noel Parks - Tuohy Brothers
Operator
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Southwestern Energy's Third Quarter 2022 Earnings Call. Management will open the call for a question-and-answer session following prepared remarks. In the interest of time, please limit yourself to two questions and re-queue for additional questions. This call is being recorded.
I would now like to turn the conference over to Brittany Raiford, Southwestern Energy's Director of Investor Relations. You may begin.
Brittany Raiford
Thank you, Chad. Good morning, and welcome to Southwestern Energy's third quarter 2022 earnings call. Joining me today are Bill Way, President and Chief Executive Officer; Clay Carrell, Chief Operating Officer; and Carl Giesler, Chief Financial Officer.
Before we get started, I'd like to point out that many of the comments we make during this call are forward-looking statements that involve risks and uncertainties affecting outcomes. Many of these are beyond our control and are discussed in more detail in the risk factors and the forward-looking statements sections of our annual report and quarterly reports as filed with the Securities and Exchange Commission.
Although, we believe the expectations expressed are based on reasonable assumptions, they are not guarantees of future performance, and actual results and developments may differ materially, and we are under no obligation to update them.
We may also refer to some non-GAAP financial measures, which help facilitate comparisons across periods and with peers. For any non-GAAP measures we use, a reconciliation to the nearest corresponding GAAP measure can be found in our earnings release available on our website.
I'll now turn the call over to Bill Way.
Bill Way
Thank you, Brittany, and good morning, everyone. Southwestern Energy's strategic intent is to generate resilient free cash flow from responsible natural gas development of our leading positions in the two premier US natural gas basins.
In the third quarter, the company continued to generate free cash flow, which was used to reduce debt and achieve our target leverage range. We also complemented debt reduction with $80 million of share repurchases, bringing our year-to-date total to approximately 10% of the authorized amount.