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|
|
1996 ANNUAL REPORT
Financial, Operating, and Investor Highlights
|
|
1996
|
|
1995
|
|
Annual
Change
|
|
|
-------------- |
|
-------------- |
|
--------- |
| Revenues |
|
$60,768,232 |
|
$28,931,045 |
|
110% |
| Oil and Gas Sales |
|
$52,770,672 |
|
$22,527,892 |
|
134% |
| Net Income |
|
$19,025,450 |
|
$4,912,512 |
|
287% |
| Income per Share |
|
$1.40 |
|
$0.54 |
|
159% |
|
|
|
|
|
|
|
|
| Total Assets |
|
$310,375,264 |
|
$175,252,707 |
|
77% |
| Working Capital |
|
$68,703,862 |
|
$3,247,185 |
|
2,016% |
| Current Ratio |
|
3.09 |
|
1.08 |
|
186% |
| Long-Term Debt |
|
$115,000,000 |
|
$28,750,000 |
|
300% |
| Shareholders' Equity |
|
$142,761,610 |
|
$93,345,965 |
|
53% |
| Return on Shareholders' Equity |
|
16% |
|
7% |
|
129% |
|
|
|
|
|
|
|
|
| Net Cash Provided by Operating Activities |
|
$37,102,578 |
|
$14,376,463 |
|
158% |
|
|
|
|
|
|
|
|
| Weighted Average Shares Outstanding |
|
13,637,182 |
|
9,122,857 |
|
49% |
| Year-End Shares Outstanding |
|
15,176,417 |
|
12,509,700 |
|
21% |
| Market Price of Common Stock at Year End |
|
$29.88 |
|
$12.00 |
|
149% |
| Number of Shareholders of Record |
|
507 |
|
623 |
|
(19)% |
| Number of Shareholders in Street Name |
|
5,300 |
|
3,500 |
|
51% |
|
|
|
|
|
|
|
|
| Natural Gas Production (Mcf) |
|
15,696,798 |
|
7,913,963 |
|
98% |
| Oil & Condensate Production (Bbls) |
|
623,386 |
|
545,435 |
|
14% |
| Total Oil and Natural Gas Production (Mcfe) |
|
19,437,114 |
|
11,186,573 |
|
74% |
|
|
|
|
|
|
|
|
| Average Natural Gas Prices Received ($/Mcf) |
|
$2.57 |
|
$1.77 |
|
45% |
| Average Oil & Condensate Prices Received ($/Bbl) |
|
$19.82 |
|
$15.66 |
|
27% |
|
|
|
|
|
|
|
|
| Proved Natural Gas Reserves (Mcf) |
|
225,758,201 |
|
143,567,520 |
|
57% |
| Proved Oil & Condensate Reserves (Bbls) |
|
5,484,309 |
|
5,421,981 |
|
1% |
| Total Proved Reserves (Mcfe) |
|
258,664,055 |
|
176,099,406 |
|
47% |
|
|
|
|
|
|
|
|
| Present Value of Proved Reserves (discounted at 10% per
annum) |
|
$471,184,957 |
|
$147,038,409 |
|
220% |
|
|
|
|
|
|
|
|
| Number of Employees |
|
191 |
|
176 |
|
9% |
For a glossary of abbreviations and terms, see pages 47-48.
For additional information, please contact:
John R. Alden, Chief Financial Officer
Swift Energy Company
16825 Northchase Drive, Suite 400
Houston, Texas 77060-6098
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Phone: |
(281) 874-2700 or (800) 777-2412 |
|
Fax |
(281) 874-2726 |
|
E-mail: |
info@swiftenergy.com |
|
Web site: |
http://www.swiftenergy.com
|
|
