Swift Energy Executes Marketing Agreement for Bay De Chene Field
Swift Energy Company has signed an agreement with a subsidiary of Enbridge Energy Partners to purchase up to 15 million cubic feet ("MMcf") per day of natural gas out of Swift Energy's Bay de Chene Field with an option for take away capacity up to 25 MMcf per day. This capacity is expected to be available by the end of the second quarter 2008.
Bruce Vincent, President, said, "This marketing agreement addresses the market constraint Swift Energy has faced in the Bay de Chene area and allows for additional takeaway capacity from current wells and any further drilling success in the area. Additional production volumes that will result from this agreement have been already included in our current 2008 production guidance, and this agreement now provides Swift with more certainty as to timing of Bay de Chene production volumes in 2008."
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