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1997 ANNUAL REPORT
Financial, Operating, & Investor Highlights
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1997
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1996
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Annual
Change
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-------------- |
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-------------- |
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--------- |
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Revenues |
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$79,922,202 |
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$60,768,232 |
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32% |
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Oil and Gas Sales |
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$69,015,189 |
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$52,770,672 |
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31% |
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Net Income |
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$22,310,189 |
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$19,025,450 |
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17% |
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Basic Income per Share |
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$1.35 |
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$1.27 |
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6% |
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Total Assets |
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$339,115,390 |
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$310,375,264 |
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9% |
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Working Capital |
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$1,464,122 |
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$68,703,862 |
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(98)% |
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Current Ratio |
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1.05 |
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3.09 |
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(66)% |
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Long-Term Debt and Bank Borrowings |
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$122,915,000 |
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$115,000,000 |
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7% |
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Shareholders' Equity |
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$159,400,920 |
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$142,761,610 |
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12% |
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Return on Shareholders' Equity |
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15% |
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16% |
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(6)% |
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Net Cash Provided by Operating Activities |
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$55,255,965 |
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$37,102,578 |
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49% |
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Weighted Average Shares Outstanding |
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16,492,856 |
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15,000,901 |
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10% |
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Year-End Shares Outstanding |
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16,459,156 |
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15,176,417 |
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8% |
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Market Price of Common Stock at Year End |
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$21.06 |
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$27.16 |
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(22)% |
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Number of Shareholders of Record |
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520 |
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507 |
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3% |
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Number of Shareholders in Street Name |
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5,700 |
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5,300 |
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8% |
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Natural Gas Production (Mcf) |
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21,359,434 |
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15,696,798 |
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36% |
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Oil & Condensate Production (Bbls) |
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672,385 |
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623,386 |
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8% |
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Total Oil and Natural Gas Production (Mcfe) |
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25,393,744 |
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19,437,114 |
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31% |
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Average Natural Gas Prices Received ($/Mcf) |
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$2.68 |
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$2.57 |
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4% |
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Average Oil & Condensate Prices Received ($/Bbl) |
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$17.59 |
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$19.82 |
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(11)% |
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Proved Natural Gas Reserves (Mcf) |
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314,305,669 |
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225,758,201 |
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39% |
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Proved Oil & Condensate Reserves (Bbls) |
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7,858,918 |
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5,484,309 |
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43% |
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Total Proved Reserves (Mcfe) |
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361,459,177 |
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258,664,055 |
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40% |
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Number of Employees |
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194 |
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191 |
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2% |
See page 22 regarding the
forward-looking statements in this report.
See page 48 for a glossary of abbreviations
and terms.
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
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Swift Energy ® and  ® are registered service marks of Swift Energy Company.
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