|
||||
1994 ANNUAL REPORT |
||||
|
|
||||
Selected Financial and Operating Data |
||||
|
||||
1994 ANNUAL REPORT |
||||
|
|
||||
Selected Financial and Operating Data |
||||
| 1994 1 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 | 1984 | |
| Revenues | |||||||||||
| Oil and Gas Sales | $19,802,188 | $15,535,671 | $12,420,222 | $8,361,771 | $7,328,190 | $3,984,835 | $2,838,433 | $2,097,815 | $954,269 | $908,928 | $326,969 |
| Supervision Fees | $3,751,061 | $3,718,829 | $3,443,777 | $3,362,800 | $2,149,079 | $1,651,839 | $1,118,794 | $1,065,820 | $1,108,410 | $963,917 | $637,067 |
| Earned Interests & Fees2 | $701,528 | $4,071,970 | $2,716,277 | $2,231,729 | $9,882,953 | $8,802,816 | $8,073,530 | $7,956,895 | $2,393,371 | $1,173,841 | $447,548 |
| Interest Income | $47,980 | $201,584 | $113,387 | $192,694 | $705,786 | $260,286 | $165,909 | $125,459 | $40,174 | $99,919 | $164,948 |
| Other, net | $1,072,535 | $604,599 | $515,931 | $541,502 | $323,981 | $232,261 | $488,131 | $452,059 | $471,486 | $348,235 | $690,899 |
| Total Revenues | $25,375,292 | $24,132,653 | $19,209,594 | $14,690,496 | $20,389,989 | $14,932,037 | $12,684,797 | $11,698,048 | $4,967,710 | $3,494,840 | $2,267,431 |
| Operating Income | $4,837,829 | $6,628,608 | $4,687,519 | $3,748,741 | $10,811,044 | $8,716,673 | $7,040,165 | $6,632,631 | $1,948,431 | $1,410,998 | $974,448 |
| Net Income (Loss) | ($13,047,027) | $4,896,253 | $4,084,760 | $2,512,815 | $7,170,642 | $5,709,098 | $4,678,317 | $4,024,003 | $1,108,314 | $778,197 | $582,947 |
| Per Share Data | |||||||||||
| Weighted Shares Outstanding3 | 6,644,248 | 6,588,076 | 6,135,044 | 5,363,299 | 5,278,578 | 4,663,322 | 4,452,163 | 4,383,969 | 4,326,300 | 4,290,000 | 4,290,000 |
| Net Income (Loss) per Share—Primary3 | ($1.96) | $0.74 | $0.67 | $0.47 | $1.36 | $1.22 | $1.05 | $0.92 | $0.26 | $0.18 | $0.14 |
| Net Income (Loss) per Share—Fully Diluted3 | ($1.96) | $0.70 | $0.67 | $0.47 | $1.36 | $1.22 | $1.05 | $0.92 | $0.26 | $0.18 | $0.14 |
| Shares Outstanding at Year End | 6,685,137 | 6,001,075 | 5,968,579 | 4,955,134 | 4,848,315 | 4,764,862 | 4,068,968 | 4,025,108 | 3,949,500 | 3,900,000 | 3,900,000 |
| Book Value per Share | $6.30 | $9.08 | $8.26 | $7.80 | $7.36 | $5.84 | $3.88 | $2.70 | $1.68 | $1.39 | $1.19 |
| Market Price3 | |||||||||||
| High | $11.38 | $12.73 | $8.64 | $10.00 | $11.71 | $12.27 | $9.55 | $16.94 | $4.89 | $1.94 | $2.73 |
| Low | $8.52 | $7.85 | $5.12 | $4.77 | $7.62 | $6.36 | $6.14 | $3.75 | $1.14 | $1.03 | $1.36 |
| Pro forma amounts assuming change in accounting | |||||||||||
| principle is applied retroactively:2 | |||||||||||
| Net Income | $3,725,671 | $4,322,478 | $3,729,851 | $2,950,245 | $3,107,451 | $2,185,276 | $898,962 | $561,509 | $290,582 | $310,314 | $415,982 |
| Net Income per Share—Primary | $0.56 | $0.66 | $0.61 | $0.55 | $0.59 | $0.47 | $0.20 | $0.13 | $0.07 | $0.07 | $0.10 |
| Net Income per Share—Fully Diluted | $0.56 | $0.63 | $0.61 | $0.55 | $0.59 | $0.47 | $0.20 | $0.13 | $0.07 | $0.07 | $0.10 |
| Assets | |||||||||||
| Current Assets | $39,208,418 | $65,307,120 | $30,830,173 | $47,859,278 | $72,537,521 | $54,818,404 | $9,304,370 | $8,396,944 | $6,924,548 | $7,994,603 | $7,184,726 |
| Oil and Gas Properties, Net of Accumulated | |||||||||||
| Depreciation, Depletion and Amortization | $88,415,612 | $89,656,577 | $64,301,509 | $47,655,917 | $41,952,212 | $27,935,170 | $19,973,454 | $13,092,526 | $6,913,487 | $4,766,258 | $3,115,271 |
| Total Assets | $135,672,743 | $160,892,917 | $100,243,469 | $101,421,573 | $118,227,480 | $85,007,293 | $31,463,220 | $23,745,504 | $15,731,279 | $14,781,775 | $12,639,167 |
| Liabilities | |||||||||||
| Current Liabilities | $52,345,859 | $55,565,437 | $27,876,687 | $50,851,447 | $71,514,938 | $49,354,128 | $9,756,431 | $8,342,755 | $6,535,890 | $7,579,679 | $6,959,253 |
| Long-Term Debt, Net of Current Portion | $28,750,000 | $28,750,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $23,030 | $129,313 |
| Total Liabilities | $93,545,612 | $106,427,203 | $50,962,183 | $62,761,217 | $82,559,406 | $57,198,476 | $15,694,272 | $12,874,849 | $9,114,611 | $9,379,600 | $8,015,189 |
| Stockholders’ Equity | $42,127,131 | $54,465,714 | $49,281,286 | $38,660,356 | $35,668,074 | $27,808,817 | $15,768,948 | $10,870,655 | $6,616,668 | $5,402,175 | $4,623,978 |
| Number of Employees | 209 | 188 | 178 | 171 | 164 | 131 | 116 | 94 | 55 | 50 | 45 |
| Producing Wells | |||||||||||
| Swift Operated | 750 | 795 | 688 | 674 | 691 | 579 | 491 | 405 | 357 | 324 | 229 |
| Outside Operated | 3,422 | 3,407 | 1,978 | 2,331 | 2,228 | 1,537 | 857 | 547 | 466 | 426 | 70 |
| Total | 4,172 | 4,202 | 2,666 | 3,005 | 2,919 | 2,116 | 1,348 | 952 | 823 | 750 | 299 |
| Wells Drilled (Gross) | 44 | 34 | 40 | 27 | 23 | 21 | 12 | 14 | 11 | 30 | 39 |
| Reserves | |||||||||||
| Gas (Mcf) | 76,263,964 | 64,462,805 | 41,638,100 | 36,685,881 | 30,731,741 | 14,945,348 | 11,293,268 | 7,229,352 | 1,903,331 | 1,685,628 | 1,822,489 |
| Oil (barrels) | 4,553,267 | 4,271,069 | 2,901,621 | 1,950,209 | 1,690,520 | 1,422,815 | 840,144 | 597,174 | 425,181 | 220,463 | 77,720 |
| Total (Mcf equivalent) | 103,583,566 | 90,089,219 | 59,047,824 | 48,387,138 | 40,874,862 | 23,482,236 | 16,334,130 | 10,812,396 | 4,454,418 | 3,008,406 | 2,288,808 |
| Production (Mcf equivalent)4 | 8,242,492 | 5,787,551 | 4,529,910 | 3,980,460 | 3,303,750 | 1,900,302 | 1,440,690 | 875,547 | 411,282 | 241,258 | 71,430 |
| Average Sales Price | |||||||||||
| Gas (per Mcf) | $1.93 | $1.96 | $1.90 | $1.58 | $1.72 | $1.73 | $1.67 | $1.78 | $2.62 | $3.45 | $4.61 |
| Oil (per barrel) | $14.35 | $15.10 | $17.19 | $18.26 | $22.70 | $17.93 | $14.38 | $17.39 | $13.14 | $24.09 | $25.88 |
| Swift Energy Managed Partnerships | |||||||||||
| Cumulative Number of Partnerships | 94 | 85 | 76 | 68 | 60 | 49 | 35 | 23 | 19 | 15 | 10 |
| Cumulative Funds Raised (millions) | $435.1 | $400.4 | $356.3 | $306.1 | $280.4 | $244.2 | $197.2 | $151.0 | $79.3 | $44.4 | $34.1 |
1 Additional 1994 Data: Income Before Cumulative Effect of Change in Accounting Principle-$3,725,671; Cumulative Effect of Change in Accounting Principle-$(16,772,698); Per Share Amounts-Primary-Income Before Cumulative Effect of Change in Accounting Principle-$0.56, Cumulative Effect of Change in Accounting Principle-$(2.52); Per Share Amounts-Fully Diluted-Income Before Cumulative Effect of Change in Accounting Principle-$0.56, Cumulative Effect of Change in Accounting Principle-$(2.52).
2As of January 1, 1994, the Company changed its revenue recognition policy for earned interests. See Note 2 to the Company's financial statements. Accordingly, 1994 "Earned Interests and Fees" does not include earned interests revenues.
3Amounts have been retroactively restated in all periods presented to give recognition to an equivalent change in capital structure as a result of a 10% stock dividend. See Note 1 to the Company's financial statements.
4Natural gas production for 1992, 1993, and 1994 excludes 1,148,862, 1,581,206, and 1,358,375 Mcf, respectively, delivered under the Company's volumetric production payment agreement.
Go to...
This page was last updated on Saturday, February 08, 2003 , at 07:28:36 PM .
Copyright © 1994-2008 by Swift Energy Company.
Click here to go to our home page or search page.
Please note the terms of use for the Swift Energy web site.
If you have comments or questions, see our feedback or requests pages.
Contact Swift Energy Company Stockholder Relations through e-mail info@swiftenergy.com or telephone (281) 874-2700.
