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SWIFT ENERGY COMPANY NEWSTERRY SWIFT NAMED PRESIDENT OF SWIFT ENERGY COMPANYHOUSTON, November 3, 1997 - Terry E. Swift, executive vice president and chief operating officer of Swift Energy Company since 1991, was elevated to the position of president of the company by the Board of Directors at its recent meeting in Houston. He succeeds the company founder, A. Earl Swift, whose resignation as president and continuation as chairman of the board and chief executive officer is consistent with the board’s succession plan. Terry Swift will retain the position of chief operating officer of Swift Energy, with additional duties to be assumed by the three senior vice presidents: John R. Alden, for finance, chief financial officer, and secretary; James M. Kitterman, for operations; and Bruce H. Vincent, for funds management. Terry Swift, 41, joined Swift Energy in 1981, within two years after the company was founded and in the same year it became a public entity. He received a bachelor’s degree in chemical engineering from the University of Houston in 1979 and a master’s degree in business administration under the President/Key Executive Program from Pepperdine University in 1991. Raymond O. Loen, a co-founder and director of Swift Energy, pointed out that Terry Swift has greatly influenced the direction of the company’s exploration and development program. "As vice president of exploration and joint ventures, he negotiated a joint venture in 1989 that firmly established the company’s position in the large AWP Olmos Field in South Texas, where Swift Energy is now the largest operator," Loen said. "He also guided the company’s buildup of one of the best exploration and development teams in the industry, keeping the faith when the future of U.S. drilling was being questioned at many other companies." In mid-1995, Swift Energy launched an accelerated drilling program that in the first nine months of 1997 yielded 138 successes out of 147 wells drilled, including 117 producers in the tight sands of the AWP Field and 11 in the Texas Austin Chalk trend. Swift Energy credits its success in both these areas to its integration of traditional and advanced technologies and its focus on areas in which the company has particular expertise and economies of scale. The company also has exploration and development programs under way along the Texas Gulf Coast and in the states of Oklahoma, Arkansas, Louisiana, and Wyoming. In addition, it is engaged in a program in New Zealand, where it has been awarded two petroleum permits by that country’s government. 16825 Northchase Drive, Suite 400, Houston, Texas 77060
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This page was last updated on Monday, January 10, 2005, at 08:13:27 AM. Copyright © 1994-2008 by Swift Energy Company. |
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