Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
KORELL HAROLD M
 2. Issuer Name and Ticker or Trading Symbol
SOUTHWESTERN ENERGY CO [SWN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Executive Chairman
(Last)
(First)
(Middle)

SUITE 125, 2350 N. SAM HOUSTON PARKWAY EAST		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2009
(Street)


HOUSTON, TX 77032		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

_X_ Form Filed by One Reporting Person
___ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Common Stock 05/20/2009   S4 25,000 D $ 41.268 874,254 I By Family Limited Partnership
Common Stock 09/15/2009   J(1) 100,000 D $ 0 1,317,076 D  
Common Stock 09/15/2009   J(1) 100,000 A $ 0 100,000 I by 2009 Family Limited Partnership
Common Stock 12/28/2009   G(2) 150,000 D $ 0 1,156,748 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 2270 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to Buy) $ 0.93           12/14/2001 12/14/2010 Common Stock
352,439
  352,439
D
 
Stock Options (Right to Buy) $ 1.205           12/20/2002 12/20/2011 Common Stock
187,014
  187,014
D
 
Stock Options (Right to Buy) $ 1.435           12/11/2003 12/11/2012 Common Stock
690,192
  690,192
D
 
Stock Options (Right to Buy) $ 2.645           12/10/2004 12/10/2013 Common Stock
451,598
  451,598
D
 
Stock Options (Right to Buy) $ 6.225           12/09/2005 12/09/2011 Common Stock
277,776
  277,776
D
 
Stock Options (Right to Buy) $ 17.745           12/08/2006 12/08/2012 Common Stock
116,286
  116,286
D
 
Stock Options (Right to Buy) $ 20.335           12/11/2007 12/11/2013 Common Stock
122,000
  122,000
D
 
Stock Options (Right to Buy) $ 27.18           12/13/2008 12/13/2014 Common Stock
78,980
  78,980
D
 
Stock Options (Right to Buy) $ 30.68           12/11/2009 12/11/2015 Common Stock
93,790
  93,790
D
 
Stock Options (Right to Buy) $ 40.73           12/10/2010 12/10/2016 Common Stock
3,960
  3,960
D
 
Phantom Stock               (4)   (4) Common Stock
51,996.456
  51,996.456
D
 

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
KORELL HAROLD M
SUITE 125
2350 N. SAM HOUSTON PARKWAY EAST
HOUSTON, TX 77032		   X     Executive Chairman  

Signatures

/s/ Melissa D. McCarty, Attorney-in-Fact for Mr. Korell 02/12/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On September 15, 2009, the reporting person transferred 100,000 shares of Southwestern Energy Company stock into a Family Limited Partnership (the "2009 FLP"). The reporting person controls the general partner of the FLP and therefore, has indirect beneficial ownership of the transferred shares.
(2) On December 28, 2009, the reporting person gifted 150,000 shares of Southwestern Energy Company stock to the Harold and Patricia Korell Foundation.
(3) Each share of phantom stock represents the right to receive the economic equivalent of one share of Southwestern Energy Company common stock.
(4) Shares of phantom stock are payable in cash following termination of the reporting person's employment with Southwestern Energy Company. The reporting person may transfer his phantom stock account into an alternative investment account at any time.

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