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    1997 Annual Report
         

FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 1997


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K


ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934



For the Fiscal Year Ended December 31, 1997


Commission File Number 1-8754


SWIFT ENERGY COMPANY
(Exact Name of Registrant as Specified in Its Charter)

 

TEXAS 74-2073055
(State of Incorporation) (I.R.S. Employer Identification No.)

 

16825 Northchase Dr., Suite 400
Houston, Texas 77060
(281) 874-2700

(Address and telephone number of principal executive offices)

Securities registered pursuant to Section 12(b) of the Act:

Title of Class: Exchanges on Which Registered:
Common Stock, par value $.01 per share New York Stock Exchange
Pacific Stock Exchange
Convertible Subordinated Notes Due 2006 New York Stock Exchange


Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months and (2) has been subject to such filing requirements for the past 90 days. Yes   X          No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.[X]

The aggregate market value of the voting stock held by non-affiliates at March 10, 1998 was approximately $275,948,000.

The number of shares of common stock outstanding as of December 31, 1997 was 16,459,156 shares of common stock, $.01 par value.

Documents Incorporated by Reference

Document Incorporated as to
Notice and Proxy Statement for the Annual Part III, Items 10, 11, 12, and 13
Meeting of Shareholders to be held May 12, 1998

 


Form 10-K
Swift Energy Company and Subsidiaries

 

10-K Part and Item No. Annual Report Section
----------------------------------------------------------- --------------------------
Part I
    Item 1. Business 3
    Item 2. Properties 3
    Item 3. Legal Proceedings 12
    Item 4. Submission of Matters to a Vote of
            Security Holders 12
Part II
    Item 5. Market for the Registrant's Common
            Equity and Related Stockholder
            Matters 12
    Item 6. Selected Financial Data 13
    Item 7. Management's Discussion and
            Analysis of Financial Condition
            and Results of Operations 15
Item 7A. Quantitative and Qualitative
            Disclosures About Market Risk 19
    Item 8. Financial Statements and Supple-
            mentary Data 19
    Item 9. Changes in and Disagreements with
            Accountants on Accounting and
            Financial Disclosure 35
Part III
    Item 10. Directors and Executive Officers of
              the Registrant (1) 35
    Item 11. Executive Compensation (1) 35
    Item 12. Security Ownership of Certain Bene-
              ficial Owners and Management (1) 35
    Item 13. Certain Relationships and Related
              Transactions (1) 35
Part IV
    Item 14. Exhibits, Financial Statement
              Schedules and Reports on Form 8-K 36
SIGNATURES

 

The statements contained in this Annual Report on Form 10-K ("Annual Report") that are not historical facts are forward-looking statements as that term is defined in Section 21E of the Securities and Exchange Act of 1934, as amended, and therefore involve a number of risks and uncertainties. Such forward-looking statements may be or may concern, among other things, capital expenditures, drilling activity, development activities, cost savings, production efforts and volumes, hydrocarbon reserves, hydrocarbon prices, liquidity, regulatory matters, and competition. Such forward-looking statements generally are accompanied by words such as "plan," "budget," "estimate," "expect," "predict," "anticipate," "projected," "should," "believe," or other words that convey the uncertainty of future events or outcomes. Such forward-looking information is based upon management’s current plans, expectations, estimates and assumptions and is subject to a number of risks and uncertainties that could significantly affect current plans, anticipated actions, the timing of such actions and the Company’s financial condition and results of operations. As a consequence, actual results may differ materially from expectations, estimates or assumptions expressed in or implied by any forward-looking statements made by or on behalf of the Company, including those regarding the Company’s financial results, levels of oil and gas production or revenues, capital expenditures, and capital resource activities. Among the factors that could cause actual results to differ materially are: fluctuations of the prices received or demand for the Company’s oil and natural gas; the uncertainty of drilling results and reserve estimates; operating hazards; requirements for capital; general economic conditions; competition and government regulations; as well as the risks and uncertainties discussed in this Annual Report, including, without limitation, the portions referenced above and the uncertainties set forth from time to time in the Company’s other public reports, filings, and public statements. Also, because of the volatility in oil and gas prices and other factors, interim results are not necessarily indicative of those for a full year.

------------------------------------------

(1) Incorporated by reference from Notice and Proxy Statement for the Annual Meeting of Shareholders to be held May 12, 1998.

 

 
 

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