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SWIFT ENERGY COMPANY 1999 ANNUAL REPORT |
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Consolidated Balance Sheets |
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SWIFT ENERGY COMPANY 1999 ANNUAL REPORT |
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Consolidated Balance Sheets |
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| December 31, | ||
| 1999 | 1998 | |
| ---------------------- | ---------------------- | |
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $ 22,685,648 | $ 1,630,649 |
| Accounts receivable -- | ||
| Oil and gas sales | 15,634,019 | 12,764,568 |
| Associated limited partnerships and joint ventures | 5,359,596 | 10,058,239 |
| Joint interest owners | 5,550,048 | 9,767,940 |
| Other current assets | 1,376,177 | 1,025,035 |
| ---------------------- | ---------------------- | |
| Total Current Assets | 50,605,488 | 35,246,431 |
| ---------------------- | ---------------------- | |
| Property and Equipment: | ||
| Oil and gas, using full-cost accounting | ||
| Proved properties being amortized | 573,360,199 | 497,296,068 |
| Unproved properties not being amortized | 57,662,739 | 56,041,886 |
| ---------------------- | ---------------------- | |
| 631,022,938 | 553,337,954 | |
| Furniture, fixtures and other equipment | 7,778,571 | 7,098,305 |
| ---------------------- | ---------------------- | |
| 638,801,509 | 560,436,259 | |
| Less--Accumulated depreciation, depletion, | ||
| and amortization | (242,966,019) | (200,713,621) |
| ---------------------- | ---------------------- | |
| 395,835,490 | 359,722,638 | |
| ---------------------- | ---------------------- | |
| Other Assets: | ||
| Receivables from associated limited partnerships, | ||
| net of current portion | 628,228 | 3,170,067 |
| Limited partnership formation and marketing costs | — | 917,189 |
| Deferred income taxes | — | 254,984 |
| Deferred charges | 7,230,208 | 4,333,958 |
| ---------------------- | ---------------------- | |
| 7,858,436 | 8,676,198 | |
| ---------------------- | ---------------------- | |
| $ 454,299,414 | $ 403,645,267 | |
| ============= | ============= | |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current Liabilities: | ||
| Accounts payable and accrued liabilities | $ 25,674,143 | $ 18,639,649 |
| Payable to associated limited partnerships | 609,967 | 380,692 |
| Undistributed oil and gas revenues | 7,785,975 | 12,394,713 |
| ---------------------- | ---------------------- | |
| Total Current Liabilities | 34,070,085 | 31,415,054 |
| ---------------------- | ---------------------- | |
| Long-Term Debt | 239,068,423 | 261,200,000 |
| Deferred Revenues | 576,658 | 1,667,574 |
| Deferred Income Taxes | 10,180,131 | --- |
| Commitments and Contingencies | ||
| Stockholders' Equity: | ||
| Preferred stock, $.01 par value, 5,000,000 shares authorized, | ||
| none outstanding | --- | --- |
| Common stock, $.01 par value, 35,000,000 shares authorized, | ||
| 21,683,185 and 16,972,517 shares issued, and 20,823,729 and | ||
| 16,291,242 shares outstanding, respectively | 216,832 | 169,725 |
| Additional paid-in capital | 191,092,851 | 148,901,270 |
| Treasury stock held, at cost, 859,456 and 681,275 shares, respectively | (12,325,668) | (11,841,884) |
| Retained earnings (deficit) | (8,579,898) | (27,866,472) |
| ---------------------- | ---------------------- | |
| 170,404,117 | 109,362,639 | |
| ---------------------- | ---------------------- | |
| $ 454,299,414 | $ 403,645,267 | |
| ============= | ============= | |
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