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Selected Financial and Operating Data |
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| 2005 |
2004 |
2003 |
2002 |
2001 |
2000 | 1999 | 1998 | 1997 | 1996 | 1995 | ||
| Total Revenues | $423,226,489 |
$310,276,774 | $208,900,983 | $149,969,811 | $183,807,490 | $191,624,946 | $110,671,007 | $82,469,221 | $74,712,180 | $56,298,026 | $25,092,230 | |
| Income (Loss) Before Income Taxes and Change in Accounting Principle (1) | $178,439,551 | $101,440,242 | $50,739,178 | $18,408,289 | $(34,192,333) | $92,449,488 | $29,736,151 | $(73,391,581) | $33,129,606 | $28,785,783 | $6,894,537 | |
| Net Income (Loss) | $115,778,456 | $68,450,917 | $29,893,812 | $11,923,227 | $(22,347,765) | $59,184,008 | $19,286,574 | $(48,225,204) | $22,310,189 | $19,025,450 | $4,912,512 | |
| Net Cash Provided by Operating Activities | $285,333,484 | $182,582,887 | $110,827,279 | $71,626,314 | $139,884,255 | $128,197,227 | $73,603,426 | $54,249,017 | $55,255,965 | $37,102,578 | $14,376,463 | |
| Per Share Data | ||||||||||||
| Weighted Average Shares Outstanding (1) | 28,496,275 | 27,822,413 | 27,357,579 | 26,382,906 | 24,732,099 | 21,244,684 | 18,050,106 | 16,436,972 | 16,492,856 | 15,000,901 | 10,035,143 | |
| Earnings (Loss) per Share--Basic (1) | $4.06 | $2.46 | $1.09 | $0.45 | $(0.90) | $2.79 | $1.07 | $(2.93) | $1.35 | $1.27 | $0.49 | |
| Earnings (Loss) per Share--Diluted (1) | $3.95 | $2.41 | $1.08 | $0.45 | $(0.90) | $2.51 | $1.07 | $(2.93) | $1.26 | $1.25 | $0.49 | |
| Shares Outstanding at Year-End | 29,009,530 | 28,089,764 | 27,484,091 | 27,201,509 | 24,795,564 | 24,608,344 | 20,823,729 | 16,291,242 | 16,459,156 | 15,176,417 | 12,509,700 | |
| Book Value per Share at Year-End | $20.94 | $16.88 | $14.46 | $13.42 | $12.61 | $13.50 | $8.18 | $6.71 | $9.69 | $9.41 | $7.46 | |
| Market Price (1) | ||||||||||||
| High | $50.01 | $30.34 | $18.00 | $20.58 | $37.70 | $43.50 | $13.31 | $21.00 | $34.20 | $28.86 | $11.48 | |
| Low | $24.77 | $15.90 | $7.60 | $6.80 | $16.66 | $9.75 | $5.69 | $6.94 | $16.93 | $9.89 | $7.05 | |
| Year-End Close | $45.07 | $28.94 | $16.85 | $9.67 | $20.20 | $37.63 | $11.50 | $7.38 | $21.06 | $27.16 | $10.91 | |
| Effect on Net Income and Earnings Per Share | ||||||||||||
| from Changes in Accounting Principles (2) | ||||||||||||
| Cumulative Effect of Change in Accounting | ||||||||||||
| Principle (Net of Taxes) | --- | --- | ($4,376,852) | --- | ($392,868) | --- | --- | --- | --- | --- | --- | |
| Effect per Share--Basic | --- | --- | ($0.16) | --- | ($0.01) | --- | --- | --- | --- | --- | --- | |
| Effect per Share--Diluted | --- | --- | ($0.16) | --- | ($0.01) | --- | --- | --- | --- | --- | --- | |
| Assets | ||||||||||||
| Current Assets | $115,055,135 | $54,385,996 | $33,460,957 | $29,768,199 | $36,752,980 | $41,872,879 | $50,605,488 | $35,246,431 | $29,981,786 | $101,619,478 | $43,380,454 | |
| Oil and Gas Properties, Net of Accumulated | ||||||||||||
| Depreciation, Depletion, and Amortization | $1,079,033,739 | $923,438,160 | $815,807,003 | $721,617,941 | $628,304,060 | $524,052,828 | $392,986,589 | $356,711,711 | $301,312,847 | $200,010,375 | $125,217,872 | |
| Total Assets | $1,204,412,622 | $990,573,147 | $859,838,544 | $767,005,859 | $671,684,833 | $572,387,001 | $454,299,414 | $403,645,267 | $339,115,390 | $310,375,264 | $175,252,707 | |
| Liabilities | ||||||||||||
| Current Liabilities | $98,421,014 | $68,618,291 | $69,353,342 | $46,884,184 | $73,245,335 | $64,324,771 | $34,070,085 | $31,415,054 | $28,517,664 | $32,915,616 | $40,133,269 | |
| Long-Term Debt | $350,000,000 | $357,500,000 | $340,254,783 | $324,271,973 | $258,197,128 | $134,729,485 | $239,068,423 | $261,200,000 | $122,915,000 | $115,000,000 | $28,750,000 | |
| Total Liabilities | $597,094,455 | $516,401,007 | $462,447,280 | $401,932,675 | $359,032,113 | $240,232,846 | $283,895,297 | $294,282,628 | $179,714,470 | $167,613,654 | $81,906,742 | |
| Stockholders’ Equity | $607,318,167 | $474,172,140 | $397,391,264 | $365,073,184 | $312,652,720 | $332,154,155 | $170,404,117 | $109,362,639 | $159,400,920 | $142,761,610 | $93,345,965 | |
| Number of Employees | 311 | 272 | 241 | 234 | 209 | 181 | 173 | 203 | 194 | 191 | 176 | |
| Producing Wells | ||||||||||||
| Swift Operated | 898 | 835 | 870 | 820 | 854 | 817 | 769 | 836 | 650 | 842 | 767 | |
| Outside Operated | 69 | 97 | 128 | 112 | 381 | 711 | 788 | 917 | 917 | 986 | 3,316 | |
| Total Producing Wells | 967 | 932 | 998 | 932 | 1,235 | 1,528 | 1,557 | 1,753 | 1,567 | 1,828 | 4,083 | |
| Wells Drilled (Gross) | 64 | 66 | 75 | 36 | 53 | 70 | 27 | 75 | 182 | 153 | 76 | |
| Proved Reserves | ||||||||||||
| Natural Gas (Mcf) | 287,473,150 | 318,246,294 | 335,804,862 | 326,731,672 | 324,912,125 | 418,613,976 | 329,959,750 | 352,400,835 | 314,305,669 | 225,758,201 | 143,567,520 | |
| Oil, NGL, & Condensate (barrels) | 79,053,056 | 80,267,208 | 80,759,903 | 70,438,963 | 53,482,636 | 35,133,596 | 20,806,263 | 13,957,925 | 7,858,918 | 5,484,309 | 5,421,981 | |
| Total Proved Reserves (Mcf equivalent) | 761,791,482 | 799,849,539 | 820,364,284 | 749,365,449 | 645,807,939 | 629,415,552 | 454,797,327 | 436,148,385 | 361,459,177 | 258,664,055 | 176,099,406 | |
| Production (Mcf equivalent) (3) | 59,589,526 | 58,318,502 | 53,158,384 | 49,752,346 | 44,791,202 | 42,356,705 | 42,874,303 | 39,030,030 | 25,393,744 | 19,437,114 | 11,186,573 | |
| Average Sales Price | ||||||||||||
| Natural Gas (per Mcf) | $5.23 | $4.12 | $3.42 | $2.30 | $4.23 | $4.24 | $2.40 | $2.08 | $2.68 | $2.57 | $1.77 | |
| Natural Gas Liquids (per barrel) (4) | $28.04 | $22.52 | $17.60 | $12.82 | --- | --- | --- | --- | --- | --- | --- | |
| Oil (per barrel) (4) | $53.63 | $40.24 | $29.89 | $24.52 | $22.64 | $29.35 | $16.75 | $11.86 | $17.59 | $19.82 | $15.66 | |
| Mcf Equivalent | $7.11 | $5.34 | $3.97 | $2.84 | $4.05 | $4.47 | $2.54 | $2.05 | $2.72 | $2.71 | $2.01 | |
(1)Amounts have been retroactively restated in all periods presented to give recognition to: (a) an equivalent change in capital structure as a result of two 10% stock dividends, one in September 1994, the other in October 1997; (b) the adoption in 1998 of Statement of Financial Accounting Standards No. 128, "Earnings per Share," and (c) the adoption in 2003 of Statement of Financial Accounting Standards No. 145, "Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB Statement No. 13, and Technical Corrections," which affected our presentation of 1999 results by reclassifying the loss on early extinguishment of debt from an extraordinary item to an operating item.
(2)We adopted SFAS No. 143, "Accounting for Asset Retirement Obligations" on January 1, 2003. We adopted SFAS No. 133 "Accounting for Derivative Instruments and Hedging Transactions" on January 1, 2001. As of January 1, 1994, we changed our revenue recognition policy for earned interests.
(3)Natural gas production from 1995 to 2000 includes volumes under a production payment agreement ranging from 1.2 Bcfe in 1995 to 0.4 Bcfe in 2000.
(4)Prior to 2002, we combined NGLs with natural gas for reporting purposes.
This page was last updated on Tuesday, March 21, 2006, at 11:52:42 AM.
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