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Swift Energy Announces New Eagle Ford Well Tests

Swift Energy Company (NYSE: SFY) announced today that it has tested three new Eagle Ford wells in the Fasken area in Webb County, TX. The Fasken BD 14H, 15H and 16H were all recently completed with an average initial production rate of 22.1 million cubic feet of gas per day (“MMcf/d”).

                   
Well Name     County/Formation Target    

Natural Gas (MMcf/d)

   

Barrels of Oil Equivalent (Boe/d)

   

Pressure (psi)

   

Choke Setting

Fasken BD 14H Webb – Eagle Ford 20.6 3,435 3,600 34/64”
Fasken BD 15H Webb – Eagle Ford 22.5 3,745 3,900 34/64”
Fasken BD 16H Webb – Eagle Ford 23.3 3,887 4,005 34/64”
 

The Company has also completed three new Eagle Ford wells in the northern part of its McMullen County, TX acreage position during the first quarter. The PCQ 14H, 15H and 16H achieved an average initial production rate of 1,212 barrels of oil equivalent during their test periods.

                           
Well Name     County/Formation Target    

Oil (Bbls/d)

   

Natural Gas Liquids (Bbls/d)

   

Residual Natural Gas (MMcf/d)

   

Barrels of Oil Equivalent (Boe/d)

   

Pressure (psi)

   

Choke Setting

PCQ EF 14H McMullen – Eagle Ford 1,108

93

0.6 1,302 4,180 16/64”
PCQ EF 15H McMullen – Eagle Ford 1,108 88 0.6 1,292 4,008 16/64”
PCQ EF 16H McMullen – Eagle Ford 804 114 0.7 1,042 3,173 16/64”
 

Terry Swift, CEO of Swift Energy, commented, “We are very pleased with our continuing operational improvements in these two key areas of our Eagle Ford acreage. The repeatable results in these areas provide a more predictable production growth profile, which is essential to our near term objectives of reducing financial leverage and increasing our liquidity profile.”

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