The offering was made under the Company's May 11, 2004 effective registration statement filed with the SEC covering the issuance from time to time of up to $350 million of various securities of the Company. The offering is led by Credit Suisse First Boston, with Goldman, Sachs & Co., Jefferies & Company, Inc., Banc One Capital Markets, Inc., Deutsche Bank Securities, CIBC World Markets and BNP Paribas serving as co-managers of the underwriting syndicate, which are offering the senior notes to the public.
Terry Swift, President and CEO of Swift Energy Company, noted, "This new debt issuance enhances Swift's financial flexibility in executing our tandem strategy of reserves and production growth through both drilling and acquisitions. It is also another step towards increasing Swift's margins in 2004. We continue to work to improve our balance sheet, and the recent rating upgrades are a testament towards Swift Energy's recent progress."
Celebrating its 25th Anniversary this year, Swift Energy Company was founded in 1979 with its headquarters in Houston, Texas. Swift Energy engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on onshore and inland waters oil and natural gas reserves in Texas and Louisiana and onshore oil and natural gas reserves in New Zealand. The Company has consistently shown long-term growth in its proved oil and gas reserves, production and cash flow through a disciplined program of acquisitions and drilling, while maintaining a strong financial position.
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