1981: The Company Broadens Its Activities

By the end of 1981, Swift Energy and its partners had drilled 41 additional development wells in West Virginia, again with 100% success. Also in 1981, the Company completed its first acquisition of producing properties, a joint venture purchase of West Virginia acreage that included both mineral and surface rights. The property included 12 wells producing gas that was marketed to the Columbia Gas Transmission Company.

Planning to expand its activities, Swift Energy formed its first subsidiary, SWENCO-Western, with headquarters in Denver. From the Denver office, the Company began acquiring leases for future drilling in Western and Central Kansas, Colorado, Wyoming, and Utah. From its Houston office, Swift Energy also acquired leases in Alabama and initiated geological studies in East Texas, the Texas Gulf Coast, North Louisiana, Southern Arkansas, Oklahoma, and Eastern Kansas.

Finally, in 1981, less than two years after it had begun, Swift Energy became a publicly held entity listed with the National Association of Securities Dealers.

This page was last updated on Wednesday, July 11, 2007, at 04:31:51 PM.

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