The Swifts of the 1920s.  This vintage photograph, found in the collection of Mrs. Adrian (Lolita) Swift, includes the Swift brothers Bert and Coss (George Edward) at the far left.

Drilling for Water

During World War II the senior Swifts drilled for water instead of oil. They ordered the largest bit that had ever been made for cable tools and drilled wells up to 36 inches in diameter in iron ore mine pits in Minnesota. Of the third generation, only Virgil N. joined them—during a high school summer. Working as a tooldresser, he "dressed" the ends of fired drilling bits with a sledge hammer and climbed to the tops of the rigs to grease the cable pulleys.

Back to the Oil Fields

Following the war, the senior Swifts again resumed contract drilling in Oklahoma. After a stint in the U.S. Marines, Virgil N. rejoined them as a tooldresser, at the same time attending the University of Tulsa to study petroleum engineering. A few years later, his brother Earl entered the University of Oklahoma, also studying petroleum engineering and working part time as a tooldresser.

Upon graduating, both Virgil N. and Earl accepted offers by major oil companies—Virgil N. joining Gulf Oil Corporation in 1952 and Earl (after service 'in the U.S. Army) going with Humble Oil Company in 1955.

In 1962, Earl, who had developed an expertise in reservoir engineering, joined the Michigan-Wisconsin Pipeline Company (MWPG), an affiliate of American Natural Resources Company. (He also began attending night classes at the South Texas College of Law, earning his Juris Doctor degree in 1968.) By 1970, he had initiated a renewed exploration and development program for MWPG in which 730 gross wells were drilled. When he left the company in 1979, he had been Vice President—Exploration and Production for several years and was managing an annual capital budget of $160 million.

Swift Energy Formed

Earl left MWPG to form Swift Energy Company in late 1979 and begin drilling natural gas wells in West Virginia, where he would not be in competition with his old company. Soon thereafter he asked his brother to join him, knowing that Virgil N. had spent 28 years with Gulf in various managerial positions in drilling and production. After serving as manager of several producing fields in the western states, the Gulf of Mexico, and the Arctic Ocean, Virgil N. had become General Manager—Drilling for Gulf Canada Resources, Inc. He had also worked in Kuwait and the North Sea and had served as Gulf's representative on missions to several foreign countries, including Russia, India and China. It was obvious the brothers had complementary skills, and in February 1981 Virgil took early retirement from Gulf to join Swift Energy.

In the meantime, Earl had not forgotten the family's tradition of continuity in training and experience. While he was still at MWPG, his own son Terry Earl spent summers and holidays with him "learning the business," which by then included office work as well as field work. Terry received a degree in chemical engineering from the University of Houston in 1979 and immediately became a petroleum engineer with Gruy Engineering Corporation. By September 1981, however, he, too, had been convinced to join Swift Energy.

All three Swifts are now in management positions at Swift Energy. Earl is President, Chief Executive Officer, and Chairman of the Board; Virgil N. is Executive Vice President and Chief Operating Officer; and Terry is Vice President—Exploration and Joint Ventures. In these positions, they continue to follow the business practices handed down through the generations, which they define as avoiding excess debt, maintaining honesty and integrity in all transactions, working hard, and knowing your business. These comprise the foundation, they believe, on which Swift Energy can continue building a company that rewards not only the family, but also all the company's employees, stockholders, and limited partners.

Go to . . .

• A Father Remembered
• Tribute to a Gallant Lady
• The History of Oil and Gas: An Investor's Look