Terry Swift, CEO of Swift Energy commented, “During the fourth quarter, we further extended the development of our South Texas acreage by deploying our most effective drilling and completion techniques. We flow tested eight wells in our Northern AWP area at an average IP of 1,242 BOEPD, 80% percent liquids. Late in the year, we tested the Fasken BDC 9H and 10H wells at rates of 17 MMcfpd and 23 MMcfpd respectively.“Consistent with industry technology advancements, increasing the total stimulated reservoir volume leads to higher production levels and improved capital efficiency. The overall Fasken gas program has delivered substantially better than expected results, including higher initial production rates and lower drilling and completion costs. These operational achievements, coupled with improved natural gas pricing have led to significant increases in the volumes and value of the reserves we were able to add at the end of the year.
Swift Energy Announces Fourth Quarter And Full-Year 2013 Results
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