The financial side is pretty simple, keep your debt down and keep your cash healthy, low leverage, high liquidity and that really helps from a financial strategy standpoint. We also think in today’s world, it’s important to have a price management strategy or hedging strategy. Ours this is generally implied to use the floors or participating callers, but with our improving production base on shore particularly in the Eagle Ford shale, with the volatility and prices particularly in the gas market, we think its going to be important to implement the use of long term slot as well as in that priceless management strategy.Moving to the operating side of the business, I mentioned that we have three core areas, South Texas being both the oldest and the largest one. It’s where the bulk of our activity is. We are spending 70% and 80% of our capital budget down there. Central Louisiana and East Texas principally focused on the Austin Chalk, principally through a joint venture with Anadarko. And then South Louisiana, where we have a couple of very old fields discover in the 30s and the 40s, but they are incredibly prolific, continue to be big producers and predominantly crude oil selling into the HLS market down there.
Swift Energy's Management Presents At 2012 Barclays CEO Energy/Power Conference (Transcript)
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