Swift Publications

In an interview with Gale Smith of Williams Energy News Live following Swift Energy’s fourth-quarter earnings release on February 14, Executive Vice President Bruce Vincent said that Swift is one of the few E&P companies predicting an increase in production for 2002, even though Swift, like other E&P companies will be cutting back on capital costs. Swift set a production record in 2001, but earnings were down, the principal reason being a $101 million non-cash writedown caused by the Company having to value its reserves by the low end-of-the-year prices. Vincent is confident that prices will rise when the economy improves and the gas market becomes tight again. (Note: The interview is available on this web site in RealPlayer format courtesy of EnergyNewsLive.com. If you do not have RealPlayer 8 on your computer, click here to download.)

This video clip shows how each new section of drilling pipe is connected to pipe already in the hole as the hole deepens. 

In an interview with Gale Smith of Williams Energy News Live following Swift Energy’s October 31 release of its third-quarter earnings, Executive Vice President Bruce Vincent said the negative impact of the dramatic downward turn in oil and gas prices on the Company’s earnings was no surprise. Even so, Swift had record earnings for the first nine months of the year, and with the 12-month strip price now at $3.30 per Mcf, well above the October closing of $1.83 per Mcf, earnings can be expected to improve. Meanwhile, Swift continues its long-term strategy of adding reserves through drilling and/or acquisitions, with the latter receiving more emphasis when prices are low. (Note: The interview is available in RealPlayer format courtesy of EnergyNewsLive.com. If you do not have RealPlayer 8 on your computer, click here to download.)