This Day On The Street
Continue to site
ADVERTISEMENT
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

Swift Energy Announces Fourth Quarter And Full-Year 2013 Results

The Fasken BCD 10H achieved initial test rates of 23.1 million cubic feet of gas per day (“MMcf/d”) with flowing casing pressure of 3,560 psi on a 34/64” choke with a 21 stage completion over a completed lateral length (“CLAT”) of 6,974 feet.

The Fasken AB 9H achieved initial test rates of 17.5 MMcf/d with flowing casing pressure of 3,100 psi on a 34/64” choke with a 20 stage completion over a CLAT of 6,433 feet. Average seven day production test rates of the Fasken BCD 10H and Fasken AB 9H were 22.3 MMcf/d and 16.8 MMcf/d respectively.

Both of these wells were completed with tighter frac stage spacing and proppant concentrations and are expected to produce 10-15 billion cubic feet of gas over their productive lives. The Company has identified an additional 50-60 undeveloped lower Eagle Ford locations in the Fasken area and expects future well costs to be approximately $7.5 million or better.

Also in its Fasken area, the Company is currently in negotiations regarding a joint venture in this area to accelerate the development of this prolific asset while allowing Swift Energy to strengthen its balance sheet and liquidity profile.

After an assessment of long-term production results in the Company’s LaSalle County acreage, it was determined that in certain wells the reservoir fluid being produced has retrograde condensation characteristics which reduce ultimate liquid recoveries.

Approximately 50% of the Artesia Wells acreage, principally located to the south and west, will require technological enhancements and higher commodity prices to justify future development. The remaining acreage in Artesia wells has demonstrated higher long-term liquid yields and is still economically attractive.

Southeast Louisiana

In the Lake Washington field in Plaquemines Parish, LA, the Company continued its ongoing recompletion and production optimization program, performing 8 recompletions and 12 production optimization projects during the quarter. The Company expects to perform up to 20 recompletions at Lake Washington during 2014.

5 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs