Swift Energy Hires Advisor for the Potential Sale of Its Central Louisiana Assets

Before you go, we thought you'd like these...
Before you go close icon

Swift Energy Hires Advisor for the Potential Sale of Its Central Louisiana Assets

HOUSTON--(BUSINESS WIRE)-- Swift Energy Company (NYS: SFY) reported today that it has retained Scotia Waterous (USA) Inc. as its exclusive advisor in the potential sale of its Central Louisiana assets. The Company's Central Louisiana asset position includes approximately 86,000 mineral acres and three producing oil and natural gas fields: Burr Ferry, Masters Creek, and South Bearhead Creek located in the Austin Chalk and Wilcox fairways.

The audited proved reserves estimates at year end 2012 totaled 20.4 million barrels of oil equivalent of which 65.2% were classified as oil or natural gas liquids. The Company estimates that the resource potential of these fields is approximately 180 million barrels of oil equivalent.

During the third quarter, estimated daily production of these assets has averaged 2,651 barrels of oil equivalent per day. Increased production levels in the third quarter are primarily due to two new well completions. In the Burr Ferry field, the non-operated Indigo 17-1 has been completed and tested. Initial production rates of this well, as reported by the operator, were 617 barrels of oil per day and 4.8 million cubic feet of gas per day on a 24/64" choke with flowing tubing pressure of 5,400 psi. This well is producing to permanent facilities and is online.

Swift Energy Company, founded in 1979 and headquartered in Houston, engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana.

Swift Energy Company
Paul Vincent, (281) 874-2700 or (800) 777-2412
Director - Finance & Investor Relations

KEYWORDS:   United States  North America  Louisiana  Texas


The article Swift Energy Hires Advisor for the Potential Sale of Its Central Louisiana Assets originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

People are Reading