This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Swift Energy Announces: 13% Increase In Third Quarter 2012 Production To 2.87 Million Barrels Of Oil Equivalent

Stocks in this article: SFY

Southeast Louisiana

In the Lake Washington field in Plaquemines Parish, LA, the Company continued its ongoing recompletion and production optimization program, performing four recompletions and fourteen production optimization projects during the quarter. The Company previously announced results of the recompletion of the LL&E #5, also known as the Jelly Bowl prospect. This well tested at 1,544 barrels of oil per day and 1.0 million cubic feet of gas per day on a 22/64” choke. An offset drilling location to this well is being prepared and will be drilled in the first half of 2013.

The Company completed one well, the CM 423, at Lake Washington during the third quarter. The well was drilled to a measured depth of 9,016 feet, encountered 202 feet of true vertical pay and tested 912 barrels of oil per day and 0.3 million cubic feet of gas per day on a 22/64” choke.

Swift Energy also drilled the CM 427, CM 426 and CM 429 in the third quarter and has now completed two of these during the fourth quarter.

The CM 427 was drilled to a measured depth of 4,300 feet and encountered 104 feet of true vertical pay; it reported an initial rate of 971 barrels of oil per day and 0.3 million cubic feet of gas per day. The CM 426, drilled to a measured depth of 4,659 feet, encountered 18 feet of true vertical pay, and tested 144 barrels of oil per day and 0.1 million cubic feet of gas per day of gas. The CM 429 will be completed by the end of 2012.

Central Louisiana/East Texas

In the Burr Ferry field in Vernon Parish, LA, the Company’s partner completed and tested the Forestar Minerals 18-1, which targeted the Austin Chalk. Initial production test rates of this well were 1,056 barrels of oil per day and 3.0 million cubic feet of gas per day with flowing tubing pressure of 4,000 psi on a 30/64” choke.

4 of 6

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,380.41 +263.17 1.63%
S&P 500 1,886.76 +24.00 1.29%
NASDAQ 4,258.4380 +41.0480 0.97%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs