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 ofOilEquivalent(Boe/d)||Pressure(psi)||ChokeSetting|
|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”|
|Well Name||County/Formation Target||Oil (Bbls/d)||NaturalGasLiquids(Bbls/d)||ResidualNaturalGas(MMcf/d)||Barrels ofOilEquivalent(Boe/d)||Pressure(psi)||ChokeSetting|
|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”|
Swift Energy Company, founded in 1979 and headquartered in Houston, engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana.About Forward Looking Statements This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The opinions, forecasts, projections, guidance or other statements contained herein, other than statements of historical fact, are forward-looking statements. These statements are based upon assumptions that are subject to change and to risks, especially the uncertainty and costs of finding, replacing, developing and acquiring reserves, availability and cost of capital, labor, services, supplies and facility capacity, hurricanes or tropical storms disrupting operations, and, volatility in oil or gas prices, uncertainty and costs of finding, replacing, developing or acquiring reserves, and disruption of operations. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct, including the ultimate performance of oil and gas wells based upon initial production rates. Certain risks and uncertainties inherent in the Company’s business are set forth in the filings of the Company with the Securities and Exchange Commission. Estimates of future financial or operating performance provided by the Company are based on existing market conditions and engineering and geologic information available at this time. Actual financial and operating performance may be higher or lower. Future performance is dependent upon oil and gas prices, exploratory and development drilling and production results, engineering and geologic information and changes in market conditions.