Oil and natural gas production company Southwestern Energy Co. on Monday reaffirmed its production forecast for 2008, citing continued investments in its Fayetteville Shale operations in Arkansas.

The company still expects to produce 148 billion to 152 billion cubic feet of oil equivalent this year, representing an increase of 30 percent to 35 percent over 2007.

Shares rose $1.44, or 4 percent, to $37.82 in midday trading.

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