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Swift Energy Announces New Eagle Ford Well Tests

Stocks in this article: SFY

Swift Energy Company (NYSE: SFY) announced today that it has tested three new Eagle Ford wells in the Fasken area in Webb County, Texas. The Fasken C 17H, 18H and 19H were all recently completed with an average initial production rate of 21.4 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 C 17H   Webb – Eagle Ford     21.4   3,571   4,292   34/64”
Fasken C 18H Webb – Eagle Ford 20.2 3,374 4,101 34/64”
Fasken C 19H Webb – Eagle Ford 22.4 3,734 4,442 34/64”
 

The Company has also completed two new Eagle Ford wells in the northern part of its McMullen County, Texas acreage position. The PCQ 17H and 18H achieved an average initial production rate of 1,404 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 17H   McMullen – Eagle Ford   939   159   1.1   1,286   3,336   20/64”
PCQ EF 18H McMullen – Eagle Ford 1,062 211 1.5 1,522 3,448 20/64”
 

Terry Swift, CEO of Swift Energy commented, “We are extremely pleased with our drilling and completion efforts in our Eagle Ford acreage. Our recent PCQ and Fasken well results demonstrate the multiple benefits from our technical improvements. We’re drilling smart, cost effective wells in a top tier manner. In our Fasken development project announced a month ago, we and our partner plan to take the steps necessary to increase the value of this premier Eagle Ford asset. Our last 8 Fasken wells (2 in late 2013 and 6 so far in 2014) have all been high rate wells with average initial production tests in excess of 20 MMcf/d. By early next year, we expect to have our Fasken firm pipeline capacity increase from 75 MMcfpd to 160 MMcfpd. Successful execution of this disciplined plan should place Swift Energy firmly among the top 20 Texas natural gas producers in 2015.”

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