FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2000 |
|
|
Consolidated Statement of Income |
Swift Energy Company and Subsidiaries |
|
|
| Year ended December 31, | |||
| 2000 | 1999 | 1998 | |
| --------------- | --------------- | --------------- | |
| Revenues: | |||
| Oil and gas sales | $ 189,138,947 | $ 108,898,696 | $ 80,067,837 |
| Fees from limited partnerships and joint ventures | 331,497 | 229,749 | 333,940 |
| Interest income | 1,339,386 | 833,204 | 107,374 |
| Other, net | 815,116 | 709,358 | 1,960,070 |
| --------------- | --------------- | --------------- | |
| 191,624,946 | 110,671,007 | 82,469,221 | |
| --------------- | --------------- | --------------- | |
| Costs and Expenses: | |||
| General and administrative, net of reimbursement | 5,585,487 | 4,497,400 | 3,853,812 |
| Depreciation, depletion, and amortization | 47,771,393 | 42,348,901 | 39,343,187 |
| Oil and gas production | 29,220,315 | 19,645,740 | 13,138,980 |
| Interest expense, net | 15,968,405 | 14,442,815 | 8,752,195 |
| Write-down of oil and gas properties | --- | --- | 90,772,628 |
| --------------- | --------------- | --------------- | |
| 98,545,600 | 80,934,856 | 155,860,802 | |
| --------------- | --------------- | --------------- | |
| Income (Loss) Before Income Taxes and Extraordinary Item | 93,079,346 | 29,736,151 | (73,391,581) |
| Provision (Benefit) for Income Taxes | 33,265,480 | 10,449,577 | (25,166,377) |
| --------------- | --------------- | --------------- | |
| Income (Loss) Before Extraordinary Item | $ 59,813,866 | $ 19,286,574 | $ (48,225,204) |
| Extraordinary Loss on Early Extinguishment of Debt (net of taxes) | 629,858 | --- | --- |
| --------------- | --------------- | --------------- | |
| Net Income (Loss) | $ 59,184,008 | $ 19,286,574 | $ (48,225,204) |
| ============ | ============ | ============ | |
| Per Share Amounts -- | |||
| Basic: Income (Loss) Before Extraordinary Item | $2.82 | $1.07 | $ (2.93) |
| Extraordinary Loss | 0.03 | --- | --- |
| --------------- | --------------- | --------------- | |
| Net Income (Loss) | $2.79 | $1.07 | $ (2.93) |
| ============ | ============ | ============ | |
| Diluted: Income (Loss) Before Extraordinary Item | $ 2.53 | $ 1.07 | $ (2.93) |
| Extraordinary Loss | 0.02 | --- | --- |
| --------------- | --------------- | --------------- | |
| Net Income (Loss) | $2.51 | $1.07 | $ (2.93) |
| ============ | ============ | ============ | |
| Weighted Average Shares Outstanding | 21,244,684 | 18,050,106 | 16,436,972 |
| ============ | ============ | ============ | |
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