This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Swift Energy Announces: 185% Increase In Third Quarter 2013 Earnings To $8.9 Million, Or $0.20 Per Diluted Share

Stocks in this article: SFY

Third Quarter Revenues and Expenses

Total revenues for the third quarter of 2013 increased 19% to $153.0 million from the $128.8 million generated in the third quarter of 2012. This increase is primarily attributable to higher oil and NGL production volumes along with higher natural gas prices.

Depreciation, depletion and amortization expense (“DD&A”) of $21.90 per barrel of oil equivalent (“Boe”) in the third quarter of 2013 increased 7% from $20.52 per Boe of that measure in the comparable period in 2012 due to a higher depletable base partially offset by the addition of reserves.

Lease operating expenses, excluding transportation and processing expense and before severance and ad valorem taxes, were $7.55 per Boe in the third quarter 2013, a 3% decrease on a per unit basis compared to the same period of 2012 due to increased production volumes. Overall costs increased due to higher lease operator and compressor costs in South Texas associated with the increased production volumes, partially offset by lower salt water disposal costs.

Severance and ad valorem taxes increased to $3.83 per Boe in the third quarter 2013 from $3.72 per Boe in the third quarter of 2012.

General and administrative expenses decreased to $3.65 per Boe during the third quarter of 2013, down from $4.16 per Boe in the same period in 2012 as a result of lower overall compensation costs. Interest expense increased to $5.72 per Boe in the third quarter of 2013 compared to $4.79 per Boe for the same period in 2012 due to additional long term debt issued during the fourth quarter of 2012.

Third Quarter Pricing

The Company realized an aggregate average price of $50.72 per Boe during the quarter, an increase from the $44.51 per Boe average price received in the third quarter of 2012 and slightly higher than the $50.71 per Boe average price received in the second quarter of 2013.

2 of 6

Select the service that is right for you!

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 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • 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