Swift Energy Resumes Operations At Lake Washington Field

Swift Energy has resumed operations at Lake Washington Field in Plaquemines Parish, Louisiana. Production from the field began coming back online October 8. Production was shut in for 12 days, with the shut in amount estimated to total approximately 35,000 net barrels of oil during this period. Most of the minor damage that impacted production has been repaired and is not expected to cause any further delays. The drilling rig, which has been active in Lake Washington, moved back into the field over the weekend and the current drilling program is continuing. A completion rig is expected back in the field in November.

Terry Swift, President and CEO of Swift Energy noted, "Although both storms did cause us to shut in our production for almost two weeks and delayed two new wells into next year, we are now back to normal operations and believe that this interruption will not affect our over-all goals for the field or guidance for this year. Third quarter production is also expected to be within our guidance, although at the low end of our range. All of our field personnel were safely evacuated from the field, and the minimal amount of damage has been largely repaired."