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| Financial, Operating, & Investor
Highlights for 2002 |
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2002 |
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2001 |
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Percent
Change
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| Revenues
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$149,969,811
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$183,807,490
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(18)%
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| Oil and Gas Sales
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$141,195,713
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$181,184,635
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(22)%
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| Costs & Expenses
(excluding the 2001 write-down of oil & gas properties)
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$131,561,522
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$119,137,576
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10%
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| Write-down of Oil and Gas
Properties
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---
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$98,862,247
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---
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| Total Costs & Expenses
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$131,561,522
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$217,999,823
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(40)%
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| Net Income
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$11,923,227
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$(22,347,765)
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---
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| Earnings per Share--Basic
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$0.45
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$(0.90)
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---
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| Earnings per Share--Diluted
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$0.45
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$(0.90)
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---
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| Total Assets
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$767,005,859
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$671,684,833
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14%
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| Working Capital
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$(17,115,985)
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$(36,492,355)
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53%
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| Current Ratio
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.63
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.50
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26%
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| Long-Term Debt
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$324,271,973
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$258,197,128
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26%
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| Stockholders' Equity
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$365,073,184
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$312,652,720
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17%
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| Long-Term
Debt to Equity Ratio
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.89
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.83
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7%
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| Return
on Assets (net income / average assets)
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2%
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(4)%
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---
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| Return
on Stockholders’ Equity (net income / average equity)
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4%
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(7)%
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---
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| Net Cash Provided by Operating Activities
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$71,626,314
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$139,884,255
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(49)%
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| Natural Gas Production (Mcf)
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27,131,578
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26,458,958
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3%
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| Oil, NGL, & Condensate Production (Bbls)
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3,770,128
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3,055,373
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23%
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| Total Production (Mcfe)
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49,752,346
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44,791,202
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11%
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| Average Natural Gas Prices Received ($/Mcf)
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$2.30
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$4.23
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(46)%
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| Average Oil, NGL, & Condensate Prices Received ($/Bbl)
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$20.88
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$22.64
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(8)%
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| Average Composite Prices Received ($/Mcfe)
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$2.84
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$4.05
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(30)%
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| Proved Natural Gas Reserves (Mcf)
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326,731,672
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324,912,125
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1%
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| Proved Oil & Condensate Reserves
(Bbls)
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52,446,486
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37,678,580
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39%
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| Proved Natural Gas Liquids
Reserves (Bbls)
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17,992,477
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15,804,056
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14%
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| Total Proved Reserves (Mcfe)
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749,365,449
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645,807,939
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16%
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| Weighted Average Shares Outstanding
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26,382,906
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24,732,099
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7%
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| Year-End Shares Outstanding
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27,201,509
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24,795,564
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10%
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| Number of Shareholders of Record
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366
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383
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(4)%
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| Number of Shareholders in Street Name
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6,980
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7,690
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(9)%
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| Market Price of Common Stock at Year-End
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$9.67
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$20.20
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(52)%
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| Number of Employees
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234
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209
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12%
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® are registered service marks of Swift Energy Company.