Swift Energy Company News
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Oil, Gas Companies Lay Off More Workers in Texas
Wednesday, January 18, 2017Transocean and Swift Energy report they will be laying off a total of 136 workers in Texas.
Swift Energy Company CEO, CFO to Retire
Wednesday, August 10, 2016Less than four months after emerging from bankruptcy, Swift Energy CEO and CFO announce their retirements.
Swift Energy Emerges From Bankruptcy
Monday, April 25, 2016Swift Energy says it emerged from Chapter 11 bankruptcy, less than four months after filing for creditor protection.
As US Shale Drillers Suffer, Even The Bankrupt Keep Pumping Oil
Friday, April 01, 2016As oil prices nosedived by two-thirds since 2014, a belief took hold in global energy markets that for prices to recover, many US shale producers would first have to falter to allow markets to rebalance.
Swift Energy Ends 2015 on Low Bank Note
Monday, January 04, 2016Houston-based Swift Energy succumbs to dismal commodities prices and joins dozens of other oil and gas companies headed to bankruptcy court.
Small Companies Cautiously Optimistic On Natural Gas Drilling
Friday, April 11, 2014The winter rally in natural gas prices is creating cautious optimism among smaller energy producers that see opportunity and future deals in a once-moribund market.
Swift Wellhead Brought Under Control after Collision
Friday, March 01, 2013Oil, gas and water output from a Swift Energy-operated wellhead damaged in a vessel collision has been brought under control.
Unknown Amount of Oil Spilled After Boat Crash
Wednesday, February 27, 2013An unknown amount of oil has been discharged into a lake connected to the Gulf of Mexico after a boat allided with an inactive wellhead, the US Coast Guard announced.
Swift Energy to Sell Stakes in Six U.S. Fields
Wednesday, August 17, 2011Swift Energy has signed a purchase and sales agreement with a private oil and gas company to sell Swift Energy's interests in six fields in South Louisiana, two in Texas and one in Alabama.
Swift Energy: Operations at Lake Washington Continue
Thursday, May 27, 2010Swift Energy continues to monitor events related to the oil spill in the Gulf of Mexico and says it has yet to observe any impact from the spill that would require a ceesation of activities at its Lake Washington field.
Swift Energy Notes Increased Drilling Activity During 4Q09
Thursday, February 18, 2010"During the fourth quarter of 2009, we increased our drilling activity, and during January of this year, we completed two new, high rate horizontal wells in the Olmos formation in South Texas," commented CEO. Terry Swift.
Swift Energy Shuffles Executive Management
Wednesday, December 16, 2009Swift Energy's Board of Directors has promoted three individuals to officer positions with the Company.
Platts: IPAA Chief Says Obama Hinders Oil and Gas Industry
Thursday, December 10, 2009President Barack Obama's policies on taxes, financial reform and the environment threaten to derail the oil and natural gas industry's potential to help create jobs and turn around the economy, the IPAA chairman said Thursday.
Swift Energy Prices $225MM Senior Notes Offering
Wednesday, November 11, 2009Swift Energy has increased the size of its public offering of Senior Notes due 2020 from $200 million to $225 million, and is calling for redemption for all of its outstanding $150 million 7 5/8% Senior Notes due 2011.
Swift Energy to Offer $200MM of Senior Notes
Tuesday, November 10, 2009Swift Energy intends to offer $200 million of senior notes due 2020 in a public offering.
Swift Energy Prices Public Offering of 5.4MM Shares of Common Stock
Wednesday, August 05, 2009Swift Energy has increased the size of its previously announced public offering of shares of its common stock from 5,000,000 shares to 5,400,000 shares, and priced the offering at $18.50 per share.
Swift Energy Commences Public Offering
Monday, August 03, 2009Swift Energy has commenced a public offering of 5,000,000 shares of its common stock.
Swift Posts 1st Quarter 2009 Financial, Operational Results
Thursday, May 07, 2009Swift Energy Company announced a loss for the first quarter of 2009 of $59.1 million, or $1.91 per diluted share, which includes a non-cash ceiling test after-tax write-down of its oil and gas properties of $50.0 million, or $1.61 per share.
Swift Energy Announces $300MM Borrowing Base
Wednesday, April 29, 2009Swift Energy's borrowing base and commitment amount under its revolving credit facility was redetermined to be $300 million, effective May 1, 2009.
Swift Energy Increasing Income by 45%, Completes 27 Development Wells in 3Q
Thursday, November 06, 2008Swift Energy announced today that its income from continuing operations for the third quarter of 2008 increased 45% to $62.3 million, compared to $42.9 million in the third quarter 2007.
Swift Dusts Off, Starts Up After Storm
Wednesday, October 01, 2008Swift's production in its Lake Washington field, located in Plaquemines Parish, LA., has been restored to approximately 85% of pre-storm levels and is expected to reach pre-storm production levels later this week.
Swift Energy Working to Restore Production in Lake Washington
Thursday, September 18, 2008Swift Energy Company has begun the resumption of production operations at its various fields affected by Hurricanes Gustav and Ike including the Newport area of Lake Washington where crews are working to bring field wide production online.
Swift Starts Louisiana Production After Storm
Friday, September 05, 2008Swift conducted a fly-over of its Louisiana properties, including the Lake Washington, Bay de Chene, Horseshoe Bayou, Bayou Sale and Cote Blanche Island fields. Additionally, the company resumed production from a number of fields.
Swift Closes Sale of New Zealand Assets
Friday, June 13, 2008Swift Energy closed the previously announced disposition of certain of Swift Energy's New Zealand assets with subsidiaries of Origin Energy Limited.
Greymouth Acquires Swift's Kowhai Discovery
Thursday, May 08, 2008Greymouth Petroleum confirmed an agreement with Swift Energy to acquire the remaining portion of Swift's New Zealand assets, including Swift's 80% working interest in the Kowhai gas condensate discovery, for an undisclosed sum.
Swift Increases Earnings 88% During Q1
Thursday, May 08, 2008Adjusted cash flow from continuing operations for the first quarter of 2008 increased 62% to $136.3 million, or $4.41 per diluted share.
Swift Energy Enjoys 96% Success Rate
Thursday, May 08, 2008Swift Energy completed 35 of 36 wells in the first quarter of 2008. This included 34 of 35 successful development wells for a success rate of 97% for the first quarter of 2008.
Swift Energy Agrees to Sale of Remaining New Zealand Assets
Tuesday, May 06, 2008Swift Energy Company announced that one of its subsidiaries, Swift Energy New Zealand, has agreed to sell the remaining portion of its assets to an undisclosed party for $15 million.
Swift Energy Executes Marketing Agreement for Bay De Chene Field
Tuesday, March 11, 2008Swift Energy Company has signed an agreement with a subsidiary of Enbridge Energy Partners to purchase up to 15 Mmcf/d of natural gas out of Swift Energy's Bay de Chene Field with an option for take away capacity up to 25 Mmcf/d.
Swift Energy Announces New Executive Appointments
Thursday, February 14, 2008Swift Energy Company reported that Robert J. Banks has been appointed Executive Vice President and Chief Operating Officer of Swift Energy Company effective immediately.
Swift Energy to Sell Major Portion of New Zealand Assets, Seeks $88 Million
Thursday, December 20, 2007Swift Energy has executed definitive agreements with certain subsidiaries of Origin Energy Limited to sell certain of Swift Energy's New Zealand assets for a minimum of $87.8 million.
Swift Close to Texas Acquisition
Friday, October 12, 2007Swift Energy buys 82,900 acres from Escondido Resources.
Swift Energy Expands Acreages Position in South Texas
Wednesday, September 05, 2007Swift Energy has signed an agreement to purchase from Escondido Resources interests in three South Texas properties in the Maverick Basin for $245 million.
Swift: Lake Washington Production Unaffected by Pipeline Incident
Thursday, August 09, 2007Swift Energy reported that it has not experienced production interruption in its Lake Washington field and production remains predominately unaffected by a recent upstream natural gas pipeline incident.
Swift Energy Reports 2Q 2007 Results
Friday, August 03, 2007Swift Energy reported net income for the second quarter of 2007 of $31.5 million, a 17% decrease compared to the same period in 2006.
Swift Energy Hires Advisor for Potential Sale of NZ Unit
Wednesday, June 13, 2007Swift Energy Co. has retained Scotia Waterous (USA) Inc. as an advisor for the potential sale of some or all its New Zealand assets owned and operated by Swift Energy New Zealand, Ltd.
Swift Prices $250M in Senior Notes
Friday, May 18, 2007Swift Energy Co. has priced its public offering of $250 million of Senior Notes due 2017 at par, with a coupon of 7.125%.
Swift Announces $250M Notes Offering
Thursday, May 17, 2007Swift Energy Co. plans to offer $250 million of senior notes due 2017 in a public offering.
Swift Eyes Alternatives for NZ Unit
Monday, May 14, 2007Swift Energy Co. plans to begin a review of strategic alternatives for its New Zealand operating unit, Swift Energy New Zealand, Ltd. ("SENZ").
Swift Unveils 2007 Capex Plans
Wednesday, March 14, 2007Swift Energy Co. on Wednesday announced details of its currently planned $350 to $400 million in total capital expenditures in 2007, net of minor non-core dispositions and excluding any potential property acquisitions.
Swift Energy Plans to Spend US$35-40m in 2007 NZ Program
Friday, March 02, 2007Swift Energy Company has budgeted to spend approximately US$35-40 million on capital expenditure in New Zealand in 2007.
Swift: 2006 Was a Banner Year
Thursday, February 08, 2007Swift Energy Co. on Thursday announced record net income for 2006 of $161.6 million, or $5.38 per diluted share, a 40% increase compared to $115.8 million of net income for 2005, or $3.95 per diluted share.
Swift Boosts Proved Reserves by 7%
Thursday, February 08, 2007Swift Energy reported 2006 year-end proved reserves of 817 Billion cubic feet equivalent ("Bcfe"), an increase of 7% from 762 Bcfe of proved reserves at year-end 2005.
Swift to Withdraw Dual Listing from NYSE Arca
Thursday, January 04, 2007Swift Energy Company said Wednesday that it has submitted a request to voluntarily withdraw its secondary or dual listing of its common stock on NYSE Arca, Inc., also known as the Archipelago Exchange and formerly the Pacific Exchange.
Swift Energy Closes South Louisiana Acquisition
Friday, December 22, 2006Swift Energy has closed the previously announced acquisition of $20.0 million of interest in a seller's operated wells and acreage to the northeast and southeast of Swift Energy's existing acreage in Lake Washington Field in Plaquemines Parish, LA.
Swift Adds to Interests in Plaquemines Parish
Tuesday, November 07, 2006Swift Energy Company said that it has signed an agreement to purchase $20.4 million of a seller's operated wells and acreage in Lake Washington Field in Plaquemines Parish, Louisiana.
Swift Energy Closes South Louisiana Acquisition
Wednesday, October 04, 2006Swift Energy has closed the vast majority of the property interests of the previously announced acquisition from BP America Production Company with an effective date of April 1, 2006.
Swift Energy Increases and Extends its Bank Revolver
Wednesday, October 04, 2006Swift Energy has increased its Revolving Credit Facility with its ten-member bank group to $500 million from $400 million.
Swift Energy in Deal to Increase Louisiana Acreage
Monday, August 28, 2006Swift Energy has signed an agreement with BP America Production Company to purchase for $175 million interests in five primary onshore South Louisiana properties.
Swift Energy Tests Goss and Trapper Wells
Friday, August 25, 2006Swift Energy Company has begun testing the Goss and Trapper wells its TAWN fields.