FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2006 |
|
|
Consolidated Statements of Income |
Swift Energy Company and Subsidiaries |
|
|
Year Ended December 31,
2006
2005
2004
Revenues: Oil and gas sales $
601,551,368
$
423,766,245
$
311,285,172
Price-risk management and other, net 13,889,862
(539,756)
(1,008,398)
----------------------- ----------------------- ----------------- 615,441,230
423,226,489
310,276,774
----------------------- ----------------------- ----------------- Costs and Expenses: General and administrative, net 31,316,644
22,176,362
17,787,125
Depreciation, depletion, and amortization 169,295,774
107,477,787
81,580,828
Accretion of asset retirement obligation 1,034,322
761,042
673,654
Lease operating cost 62,474,619
47,321,841
41,214,256
Severance and other taxes 65,452,043
42,176,505
30,401,293
Interest expense, net 23,581,663
24,873,401
27,643,108
Debt retirement cost ---
---
9,536,268
----------------------- ----------------------- ----------------- 353,155,065
244,786,938
208,836,532
----------------------- ----------------------- ----------------- Income Before Income Taxes 262,286,165
178,439,551
101,440,242
Provision for Income Taxes 100,720,825
62,661,095
32,989,325
----------------------- ----------------------- ----------------- Net Income $
161,565,340
$
115,778,456
$
68,450,917
----------------------- ----------------------- ----------------- Per Share Amounts- Basic: Net Income $
5.52
$
4.06
$
2.46
----------------------- ----------------------- ----------------- Diluted: Net Income $
5.38
$
3.95
$
2.41
----------------------- ----------------------- ----------------- Weighted Average Shares Outstanding 29,265,366
28,496,275
27,822,413
============ ============ ============
See accompanying Notes to Consolidated Financial Statements.
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