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SWIFT ENERGY COMPANY NEWSSWIFT ENERGY REPORTS WYOMING NEW FIELD DISCOVERYHOUSTON, December 19, 1995 - Swift Energy Company (NYSE, PSE: SFY) today announced the successful test of an exploratory oil well as part of its expanded drilling activities. The K.M. Mines No. 1 located in Campbell County, Wyoming discovered a new oil field producing from the Minnelusa "B" sand where it is estimated that two to four additional wells will be drilled to fully develop the field. The well was recently tested at a daily rate of 240 barrels of 22 API gravity oil at a depth of approximately 9,600 feet. Swift Energy Company owns directly a 42 percent working interest in the well and another 7.6 percent as general partner of the Swift Energy Drilling Ventures 1995-2 partnership, which separately owns a 38 percent working interest. Other private industry partners own the remaining interests in the well. During 1995, Swift Energy has participated in eight exploratory wells, four of which (50%) have been successfully completed. Two of the exploratory wells were drilled in the Gulf Coast region of Texas, three in Arkansas, and three in Wyoming. In 1995 Swift has participated in 62 development wells, 60 of which (97%) were successfully completed. This drilling activity is part of the Company's expanded exploration and development drilling program which began in 1991 as an important part of the Company's long term strategic growth plan. Based in Houston, Swift Energy Company is a 15-year old independent oil and gas company engaged primarily in the exploration, development, acquisition and operation of oil and gas properties, with an emphasis on domestic natural gas. 16825 Northchase Drive, Suite 400, Houston, Texas 77060
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This page was last updated on Thursday, January 06, 2005, at 11:05:08 AM. Copyright © 1994-2008 by Swift Energy Company. |
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