WASHINGTON, D.C. 20549

                                FORM 8-K

                              CURRENT REPORT

                  PURSUANT TO SECTION 13 OR 15(d) OF THE

                     SECURITIES EXCHANGE ACT OF 1934

         Date of Report (Date of earliest event reported) July 26, 2001

                        SOUTHWESTERN ENERGY COMPANY
           (Exact name of registrant as specified in its charter)

               Arkansas             1 - 8246         71-0205415
      (State of incorporation     (Commission      (I.R.S. Employer
         or organization)          File Number)    Identification No.)

          2350 N. Sam Houston Pkwy. E., Suite 300, Houston, Texas 77032
          (Address of principal executive offices, including zip code)

                             (281) 618-4700
           (Registrant's telephone number, including area code)

                                 No Change
     (Former name, former address and former fiscal year; if changed
                            since last report)



Item 7.(c)

Exhibits                                                              Reference

        (99.1)   Conference Call Summary dated July 26, 2001.         p. 3 - 11

Item 9.

Regulation FD Disclosures

         Southwestern  Energy Company is furnishing under Item 9 of this Current
Report on Form 8-K the information included as exhibit 99.1 to this report.

Note:  The  information  in this report  (including  the  exhibit) is  furnished
pursuant  to Item 9 and shall not be deemed to be "filed"  for the  purposes  of
Section 18 of the  Securities  Exchange Act of 1934 or otherwise  subject to the
liabilities  of that section.  This report will not be deemed an admission as to
the  materiality  of any  information  in the  report  that  is  required  to be
disclosed solely by Regulation FD.


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned, thereunto duly authorized.

                                               SOUTHWESTERN ENERGY COMPANY

DATE:   July 30, 2001                          BY:   /s/ GREG D. KERLEY
     ------------------                        ---------------------------
                                                     Greg D. Kerley
                                                 Executive Vice President
                                               and Chief Financial Officer

                                      - 2 -

Southwestern Energy                                            Conference Call
Company                                                        Summary

                   2001 Second Quarter Results Conference Call

                             Thursday, July 26, 2001

                                   Chaired by

                                  Harold Korell

                      President and Chief Executive Officer


     Good  afternoon  and thank you for  joining us today.  With me are  Richard
Lane, our Senior Vice  President of Exploration  and Production and Greg Kerley,
our Chief Financial  Officer.  After some  preliminary  comments,  I'll turn the
floor over to Richard for an update on our E&P  operations  and then to Greg for
comments on our  financial  results.  And after that,  we will be available  for

     If you have not received a copy of the press release  announcing our second
quarter results, you may call Carole Ann at 281-618-4710 and she will fax a copy
to you. Also our attorneys have asked that I point out that some of the comments
during this  teleconference may be regarded as  forward-looking  statements that
involve risks and uncertainties which are detailed in the Company's SEC filings.
While we  believe  that they are  reasonable  representations  of the  Company's
expected performance, actual results could differ materially.

     Speaking of results, our results for the first half of 2001 were excellent,
both operationally and financially. Our oil and gas production volumes were very
strong  during the second  quarter and we look for this to continue  through the
remainder of the year.  Richard will touch on this more in a moment,  but we are
continuing to see significant  production  from our  Haileyville  project in the
Arkoma Basin and our Overton drilling program in east Texas is well under way.

     Our higher production  volumes combined with strong oil and gas prices have
resulted in outstanding  earnings and cash flow through the first six months and
we look for 2001 to be a record year for the Company. Additionally, our improved
cash flow has  allowed us to reduce our total debt by $39  million.  We are also
pleased to report that during the second quarter, we settled litigation filed by
Enron back in 1996 related to overriding  royalty  interests on certain Arkansas
oil and gas properties.  Southwestern recorded a charge in the second quarter of
$2 million related to this  settlement.  Also in connection with the settlement,
we purchased Enron's overriding royalty interest in the disputed properties.

     We've had a productive  first half of the year with the drill bit and we're
on track to achieve our  production and reserve  targets for the year.  Although
commodity prices have fallen recently,  they remain at historically  high levels
and combined  with our  inventory of  prospects,  afford us the  opportunity  to
continue to add significant value for our shareholders.

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     That concludes my early comments and I'll turn the  teleconference now over
to Richard for an update on our E&P operations.


     Thank you,  Harold and good  afternoon.  In the second  quarter of 2001, we
continued to increase our production rate through our successful exploration and
development  programs.  Oil and gas  production for the quarter was 9.8 Bcfe, up
10%  from  8.9 Bcfe in the  second  quarter  of 2000 and up from 9.0 Bcfe in the
first quarter of this year. Our wellhead  production rate at the end of June was
115 million  cubic feet  equivalent  per day as compared to a 105 million  cubic
feet equivalent per day first quarter exit rate. In total, we participated in 28
wells that were spud in the second quarter. Of these, 14 were successful,  three
were dry and 11 were in progress at the end of the  quarter.  On a  year-to-date
basis, we have  participated in 60 wells, of which 37 were  successful,  with 12
wells still in progress.

     We continue to have growing success in many of our project areas within the
Arkoma Basin.  In the second  quarter,  we spudded 17 wells.  Nine of these were
productive, two were dry and six were still in progress.  Year-to-date,  we have
completed  19  wells  in the  Arkoma  Basin  for a  success  rate  of  73%.  Our
Haileyville  project  that Harold  mentioned  in  Pittsburgh  County,  Oklahoma,
continues to yield excellent  producers.  We drilled and completed the Cope #3-A
in this trend during the quarter and it was placed on  production  at an initial
rate of 19.5  million  cubic  feet per  day.  Our  Haileyville  area  wells  are
currently producing  approximately 40 million cubic feet per day, which is about
13 million cubic feet per day net to Southwestern's interest.

     Additionally,  we  successfully  completed  the  Catlett  #1-13 well at our
Ranger prospect area in Yell County, Arkansas.  Southwestern operates this well,
which is currently waiting on pipeline with an 80% working interest. The Catlett
well marks the continued  successful  development of this thrusted Borum play in
that area,  where we have drilled and  completed  10 out of 14 wells  attempted.
We've also had continued  drilling success in the Fairway area of Arkansas.  One
example is the  Southwestern-operated  Sanders #1-16 that tested a combined rate
of 6.3 million cubic feet per day from two pay intervals.  Southwestern  holds a
94%  working  interest  in this  well  and  it's in  Johnson  County,  Arkansas.
Additionally,   our  workover  program  which  includes  fracture  stimulations,
artificial lift,  co-mingling and wellbore repair projects  continues to provide
meaningful  incremental  production  increases  and an  identified  inventory of
future projects.

     Moving to the Permian Basin,  we were  successful on 10 of 13 wells drilled
in the first six  months of this year as we  continue  to pursue  our Morrow and
Devonian plays.  Also, we have begun  development on our first quarter discovery
at Cowden Ranch which is in Crane County,  Texas. The discovery well, the Cowden
Ranch "48" #7, is currently  producing 132 barrels of oil per day from the upper
Devonian.  It also tested 75 barrels of oil per day from the lower  Devonian and
our  plans  there  are  to  comingle   those  two  zones  in  the  near  future.
Additionally,  we are completing  our first offset to that,  which is the Cowden
Ranch "48" #8.

     In our Morrow  drilling  program,  our Butkus well was placed on production
during the second quarter and is currently  producing 9.5 million cubic feet per
day and 57  barrels  of oil per day from the Morrow  formation  at about  13,200
feet. Southwestern holds a 33% interest in this well and it's in Lea County, New
Mexico. Our Lonesome Dove prospect, which was spud late in the first quarter, is
also currently being completed.

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     At our Overton Field in Smith County,  Texas,  our  development  program is
well underway as Harold mentioned. Since the beginning of the year, we have spud
nine wells, six of which are on production and three are currently drilling.  As
a result of this program, our gross production from the field has increased from
1.8  million  cubic  feet per day from this time  last  year,  when we took over
operations of the field, to a current rate of over 9 million cubic feet per day.
Southwestern operates the Overton wells with an average working interest of 91%.

     We  currently  have three rigs running in Overton and expect to drill up to
15 wells in the area this  year.  All of these  wells are  targeting  the Cotton
Valley sands at a depth of  approximately  11,800 feet and we are  utilizing the
high-rate slick oil fracture stimulation technology on our completions.

     In the second quarter,  Southwestern  formed a limited  partnership with an
investor to drill and complete the first 14 Overton wells.  This partnership was
created to  accelerate  the field of  development  with an  infusion of capital.
Southwestern is the partnership's General Partner and will contribute 50% of the
capital required to drill the first 14 wells. In return,  we will receive 65% of
distributions prior to payout of the initial investment and 85% of distributions
after payout.

     Moving to our south Louisiana activity,  we are drilling ahead there on our
first development well on our North Grosbec discovery. This is the Norman Breaux
#1, which is currently  drilling at 15,800 feet on its way to 20,900 feet.  This
well will test the P-10 sand that is currently  producing in our discovery well,
the Brownell Kidd #1, and is currently producing at a rate of 16.3 million cubic
feet per day and 579 barrels of condensate per day. Our completion plans for the
Norman Breaux  development  well include  utilizing  larger-diameter  completion
strings  than  those in the  initial  discovery  well,  in  order  to take  full
advantage of this high-deliverability reservoir.

     Additionally,  in south  Louisiana,  we drilled dry holes at our Mahone and
our Whitehorse prospects. The Geoffroy #1, which is the exploration test for the
Mahone prospect encountered marginally-developed Discorbis sands and was plugged
at a total depth of about 16,200 feet. At the Savoie #1 well which was a test of
our Whitehorse prospect,  the objective Planulina sands that we encountered were
in a structurally high position and were well developed, but they were wet.

     We are also currently  drilling a  high-potential  exploratory  test at our
Horeb prospect in Acadia Parish.  This is the second exploration well within our
Eden 3-D  project,  where  last  year we  previously  announced  our  successful
Robertson  well  on our  Havilah  prospect.  The  Horeb  well  is  planned  as a
13,500-foot test. Also in south Louisiana,  things are progressing nicely on our
prospect  development  and leasing efforts on our Cameron Prairie 3-D project in
Cameron Parish.

     We continue to be very  pleased with the results of our 2001  program.  Our
inventory of lower-risk Arkoma Basin and Overton drilling,  medium-risk  Permian
Basin  exploration and  high-potential  Gulf Coast  exploration  exposes us to a
well-balanced  mix of  opportunities  for  growth in  reserves  and  production.
Additionally,  in our second  quarter we have made  progress in reducing our per
unit  operating  cost over the first quarter and we are seeing a leveling off of
overall drilling and completion cost increases.  I am very encouraged by our six
month  operating  results

Southwestern Energy Company          2001 Second Quarter Results Conference Call
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                           and I  feel  confident  about  achieving  our  annual
production  and reserve goals through our  value-added  investments.  I will now
turn it over to Greg Kerley who will discuss the Company's financials.


     Thank you Richard and good afternoon.  As Harold  indicated,  our financial
results  for the  quarter  and the  first  six  months  of the  year  have  been
excellent.  We reported  net income of $6.9  million,  or $.27 per share for the
second quarter, nearly a five-fold increase over the earnings we reported in the
same period last year when you exclude  unusual items.  Net income for the first
six months of 2001 was $22.9 million, more than double earnings in the first six
months of 2000.  Cash flow from  operating  activities  before  working  capital
changes was $25.1 million  during the quarter,  up 65% from last year,  and cash
flow for the  first  half of the year was  $63.7  million,  up 53% from the same
period in 2000.

     Our strong  results  reflect  continued  growth in  production  volumes and
higher  commodity  prices.  Operating income from our Exploration and Production
segment was $18.3 million during the quarter,  up from $7.6 million for the same
period in 2000.  We  realized  an average  gas price of $4.16 per Mcf during the
quarter,  up 58% over prices a year ago.  Although  commodity prices have fallen
recently, our hedge position for the remainder of the year will help to mitigate
the current price decline.  Overall,  our target gas production  continues to be
about 80% hedged for the  remainder  of the year.  There have been no changes to
our hedge position since the end of last year.

     Operating expenses for the Exploration and Production segment, while higher
than last year, fell on an equivalent unit of production  basis when compared to
the first  quarter of 2001.  Our lifting  costs were $.44 per Mcfe in the second
quarter,  compared  to $.51 per Mcfe in the first  quarter  of 2001.  Production
taxes  declined in the second  quarter to $.18 cents per Mcfe,  compared to $.23
per Mcfe during the first quarter.  For the rest of 2001, we anticipate that our
per unit operating costs will remain close to their current levels.

     Our G&A per Mcfe was  higher  during  the  quarter,  but it  includes  a $2
million charge  related to the  settlement of litigation.  When you exclude this
charge,  our G&A expense  was $.33 per Mcfe for the second  quarter and $.28 per
Mcfe for the first six months of 2001. That was lower than the comparable  prior
years, and right in line with the guidance that we provided earlier in the year.
Depreciation,  depletion  and  amortization  expense  for  the  Exploration  and
Production  segment rose during the quarter due to higher production volumes and
a higher amortization rate. The amortization rate for the full cost pool for the
first half of 2001 averaged $1.09 per Mcfe compared to a $1.03 in 2000.

     Southwestern's  Utility and Marketing  segments continue to post consistent
results.  Operating income for our utility was $8.6 million in the first half of
the year,  compared to $8.7 million for the same period in 2000,  excluding  the
income from the Company's  Missouri  assets which were sold in May of last year.
The Company's marketing operations added $1.6 million in operating income during
the first six months of 2001,  compared to $1.5 million for the same period last

     As  Richard  mentioned,  during  the  second  quarter  we  formed a limited
partnership  with an investor to drill the first 14 wells at our Overton  Field.
Because the  partnership  is  controlled  by

Southwestern Energy Company          2001 Second Quarter Results Conference Call
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                                              Southwestern,  the  operating  and
financial  results of the partnership are consolidated  with the Company's other
E&P results and the investor's  share of the partnership  activity shows up as a
minority interest item in our financial statements.  Additionally,  our reported
capital expenditures include the gross expenditures of the Overton partnership.

     For the first six months of 2001,  our  capital  expenditures  totaled  $48
million,  including  $46 million  invested  in our  Exploration  and  Production
operations.  The investor in our Overton  partnership funded $3.9 million of the
capital investments during the period.  Additionally,  our capital  expenditures
during  the  quarter  included  $5.8  million  to  purchase  overriding  royalty
interests in a group of the Company's Arkoma properties. This acquisition was in
connection with the settlement of litigation that Harold discussed.

     We are continuing to focus on  strengthening  our balance sheet. As of June
30th, we had reduced our total debt by $39 million. At current commodity prices,
we hope to pay down as much as $50 million in debt during 2001.

     I'm pleased to report that earlier this month,  we arranged a new revolving
credit facility with a group of banks to replace the short-term  facility we put
in place a year ago to fund the Hales judgment.  The new facility has a capacity
of $160 million and a three-year  term. The interest rate on the new facility is
137.5  basis  points  over  LIBOR  and  we  are  currently  borrowing  at a very
attractive rate of 5.2%. The facility had a balance of $132 million at June 30th
and was classified as long-term debt on our balance sheet.

     That  concludes my comments and I will turn back to the operator to explain
the procedure for asking questions.

                              Questions and Answers


1.   Could you tell us what's the plan going forward with Haileyville?  Any more
     wells there?

          In the  area  that we have  been  talking  about,  we're  pretty  much
     finishing  up  drilling  in that  specific  area.  We have  acreage  to the
     northeast of this  prolific  well area,  and also to the  southwest of that
     area with varying  interests.  I think you'll see that we'll drill  another
     three to four wells in those areas in the remainder of the year.

2.   You expecting 20 million a day initial production on those?

          No, we're  certainly not  expecting  that. In some of the wells on the
     northeastern fringe and the southwestern  fringe, we've encountered some of
     these same sands at more typical  rates that we expect to see in the basin.
     So, in some ways we have defined that core area already.  I think the wells
     that we have for the  remainder  of the year should be more  typical of the

3.   Is there a trend that you are following overall on that side of the basin?

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          Yes, the mapping and  prospecting  in that part of the basin  involves
     trying to predict where these sand trends are, and  certainly  that is part
     of our approach.

4.   G&A tends to bounce  around a little bit quarter to quarter.  For  example,
     this quarter excluding that litigation charge of $2 million, you still have
     a G&A of $3 million  versus first quarter of $2 million.  Could you give us
     an explanation on that?

          If you'll look at us on a  historical  basis,  our G&A is  typically a
     little lower in the first  quarter than it is  throughout  the year. In our
     initial  guidance for the year,  we felt G&A would bring about $.28 per Mcf
     equivalent.  As we talked  about  the first  quarter,  we were  lower  than
     typical,  but that is more seasonal in nature and that relates primarily to
     consulting and different  things that we have in G&A in the second quarter.
     You can look at, for example,  2000 and see the same trend.  It's just more
     of a seasonal trend that we have.

5.   Horeb, I take it, has spud but give us a feel for timing. Is this something
     like a 90-day, or 120-day type well?

          It is currently drilling and I believe it's at about 12,000 feet right
     now and it's projected to go to about 13,500 feet. I would anticipate 30 to
     60 days more of operations there before evaluating.

6.   Let's see, a real good build up in volumes  this  quarter.  Can you tell us
     what was the exit  rate or where did you come from and get to at the end of
     the quarter?

          Sure,  at the end of the first quarter we reported an exit rate of 105
     million cubic feet per day. We exited this quarter,  the second quarter, at
     115 million cubic feet per day.

7.   Do you expect operating  expenses to be lower in future periods due to some
     of the increased rates from the wells or to keep that in line and expect to
     look at that going flat going forward?

          Yes, our expenses  were higher the first  quarter.  If you may recall,
     Richard  talked  about  that we had a  higher  level of  workovers  in that
     quarter. That was a large portion of the reason.  However, we kind of think
     that we've  flattened  off at about the current  rate and the  inflationary
     pressures  that we saw so early in the year have  seemed to have  flattened

8.   About the Overton partnership,  does this just cover the first 14 wells? Is
     there an option to continue that or is it only for those 14 wells?

          The partnership as it's structured is for these 14 wells, and it would
     be at our option,  Southwestern's  option,  whether we included any further
     drilling there.

9.   Actually  just a follow  up on the Horeb  prospect.  You gave us a time and
     just the size, is that still kind of a 35-40 Bcfe-type of prospect?

          On a net and unrisked basis to Southwestern, that's a good range.

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10.  On your  capital  spending,  I don't know how you are going to classify the
     $5.8 million sort of acquisition  that you made from the lawsuit.  But what
     is the 2001 Cap Ex including or excluding  that $5.8  million?  Then if you
     break that down, it sounds like in the first half, you had about $2 million
     on the utility and what might this be for the whole year.

          For the  utility,  the  capital  expenses  for the whole  year will be
     between $6 and $7 million. Our exploration and production budget originally
     was $75 million, and that is still a good number. The $5.8 million would be
     an  additive  to  that.  What  complicates  it a little  bit,  is that on a
     reported basis,  we'll end up with some additional capital spending related
     to the Overton partnership,  but those dollars will actually be coming back
     in from that partner to fund that.  So, for example,  in the $45.6  million
     that is E&P capital for the six months, that includes $5.8 million from the
     acquisition  that we talked  about,  and it includes  $3.9 million that was
     funded by the Overton investor. You can see it a little bit more clearly on
     our cash  flow  statement  with our  financials.  Because  we  control  the
     partnership, we have to consolidate the partnership into our financials and
     record the gross  expenditures in there with the  partnership,  even though
     our net capital out the door is expected to be $75 million this year,  plus
     the $5.8 million from the acquisition.  To give you an idea, we could be as
     high as $99 to $100 million in gross expenditures, but we would receive $12
     million  from the  partner  back in the door.  I know  that's a  convoluted
     explanation. I don't know if you were able to follow me all the way through
     or not.

11.  I  understand,  you gross it up,  then you  subtract it out,  the  minority
     interest part.

          Yes, that is correct.

12.  Any other  comments or thoughts or plans on the utility side. It seems like
     it's clicking  along just fine.  I'm assuming  there's been no real changes
     since three months ago.

          No  changes on that.  It is  clicking  along well and with  consistent
     results,  and it's  helping us to pay down debt.  So things are the same on

13.  Congratulations, it looks like you blew through our numbers for the quarter
     and we just picked you up in July.  Harold, one thing that you focus on and
     talk a lot about in your annual  report is the PVI kind of  equation.  What
     you are seeing in finding costs to date and how is your  profitability with
     these  declining  gas prices?  Although  they are still super,  how is that
     affected  by region and maybe you can take us through  region by region and
     go through the PVI equation.

          As we  look  at it at the  end  of the  quarter,  we're  still  adding
     significant  value.  When we set out our  objectives  for the year, we talk
     about achieving a PVI of $1.50 to $1.90 for every dollar invested.  And, so
     far, we are in that range. With our finding and development costs, we don't
     try to deal with reserves quarter by quarter,  but we are keeping an eye on
     them and they are well in line  with our  targets  overall.  We're not much
     more than over $1 per Mcfe as we look at the first couple of  quarters.  As
     far as how that plays out area by area, they are fairly consistent. At this
     point in time,  we've had a very good year so far in the Arkoma Basin.  Our
     Gulf  Coast  area looks  pretty  good  also,  and with the two dry holes in
     exploration it would be slightly higher on finding and  development  costs,
     but very economic to this point.

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14.  Several other  companies over  conference  calls have talked about reducing
     the number of wells that they are drilling this year citing, you know, just
     higher service costs. It doesn't appear that that's  effecting you. You see
     your  competitors  out  there and  understand  what's  going on.  Were they
     drilling  generally  marginal  wells,  or do you think that on an  industry
     basis,  gas prices have slowed down either  service  costs or the number of
     wells drilled per year.

          Well,  that's a pretty broad  question,  but let me start off with our
     focus,  because  I can't  really  answer  for the  others  and  what  their
     strategies  are  and  what  their  inventory  looks  like  and  what  their
     profitabilities are on all of their prospects. But in general, I think that
     we are  slightly  different  than some of the other  companies  for one big
     reason,  and that is that we entered the year with a whole lot of debt. Our
     debt-to-cap  was over 70% and, as a result of that, we made a commitment to
     pay down a substantial amount of debt this year.

          Well,how that figures into our exploration and development  program is
     that when we started the year we were only  planning to reinvest  about 60%
     of our cash  flow.  That  means  that we were  doing a good deal of sorting
     across our inventory of drilling  prospects  which, if you think about what
     that means,  it also means that we were sorting to the projects with higher
     PVI or lower  F&D  costs,  and  therefore  higher  profitability.  So,  our
     inventory,  the things that we will drill this year, are top level projects
     and we  haven't  had the  surplus  in cash flow  probably  that many of the
     others have had to invest.  So maybe,  it's a possibility  that some of the
     other  companies,  you might see them  pulling back versus where they might
     have said they would be investing  earlier.  So, overall that's how I think
     that we would compare to some others.

          As far as where do gas  prices  have to be to  discourage  us from our
     drilling  activity,  it's going to have to go below  $2.50 an Mcf,  because
     what we are doing works very well down to that level.  So, I don't see that
     having  an  effect  on us. I do think  it ought to have an  effect  on some
     drilling  programs that some of the companies  have, but again I don't want
     to try to address any specifics there.

15.  I know that you are focused on reducing  debt, but stock  buybacks,  again,
     another thing that many  companies  have not only announced but acted upon.
     When would you be  interested  or would you be  interested  in some sort of
     stock buyback program?

          Well, I don't think we would be interested in a stock buyback program.
     We have  projects to invest more  capital than we probably  currently  have
     available,  which would mean that we wouldn't  want to use our cash flow to
     buy back stock.  You know, in addition to that,  although our debt is high,
     the cost of debt is pretty  darn low right now.  We have 7% public debt out
     there and on our revolver it's about 5.2% on $132 million.  So, although we
     have a lot of it, it's feeling better.

16.  I know the Mahone  prospect was not a successful  test. Are there any plans
     to do anything  else there that you learned  that is going to take you back
     to that area to drill another well?

          We don't have any  immediate  plans right around the Mahone  test.  We
     think that we have  adequately  tested the prospect  with this  higher-risk
     exploratory test. However, in that

Southwestern Energy Company          2001 Second Quarter Results Conference Call
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                                        general region, we have some other ideas
     that are pretty much  unrelated  to that  prospect,  but could  become some
     opportunities for next year.

17.  The 60 wells  that you  drilled  in the first  half of the year,  is that a
     gross number? What was the net number of wells drilled?

          That is a gross  number.  I don't  have the net  number  right here in
     front of me, but I believe it's about 27 or 28 net wells.

18.  One  further  question  about the  capital  expenditures  with the  limited
     partnership.  From the $47.9 million in capital  expenditures for the first
     half, what you are getting back from the limited partners?

          That  will  show  up on the  cash  flow  statement  of  our  financial
     statements.  The capital  expenditures shows up in cash flow from investing
     activities, and including our utility was $47,995,000.  Just slightly below
     that in that the other section of the cash flow  statement  where the funds
     come is the net  effect of our debt  reduction,  where  we've paid down $39
     million,  and then the contribution  from our minority  interest partner of
     $3.9 million. Effectively, everything that relates to the minority interest
     on the cash flow statement,  the balance sheet, and on the income statement
     for  $384,000,  all  relate  to the  investor's  interest  in  the  Overton

          This is Greg  Kerley  again.  We're very  pleased  with the  financial
     position  and where we are for the first half of the year.  I want to thank
     you for  joining  us  today.  Please  feel  free to call me with any  other
     questions that you may have or for any other  information that you need and
     that concludes our teleconference.

          Ladies and  gentlemen,  that does conclude your  conference for today.
     You may all disconnect, and thank you for participating.

Southwestern Energy Company          2001 Second Quarter Results Conference Call
                                       -9-                           www.swn.com

                          Southwestern Energy Company
                          P.O. Box 1408
                          Fayetteville, AR 72702-1408

July 30, 2001

Securities and Exchange Commission
ATTN: Filing Desk, Stop 1-4
450 Fifth Street, N.W.
Washington, DC  20549-1004


Pursuant to  regulations  of the Securities and  Exchange  Commission, submitted
herewith for filing  on behalf of  Southwestern Energy Company is Form 8-K dated
July 26, 2001.

This filing is being  effected by direct  transmission to the Commission's EDGAR

Very truly yours,

Stan Wilson