1982: Drilling Expands to Four States

In 1982, Swift Energy drilled 129 wells in West Virginia and established a field office in the city of Clarksburg to handle its increasing activities in that state, including the negotiation of a contract for the sale of gas to Tennessee Gas Pipeline Company.

The Company also initiated drilling activities in the states of Kansas (14 wells), Alabama (two), and Wyoming (four). Of a total of 149 wells drilled in the four states during the year, 129 were successful. Among them were four oil wells in Kansas resulting from the Company’s first exploration venture.

At year end, the company had 58 employees and was operating 184 wells. It had a net income of $582,088 (an eleven-fold increase from 1980) and proven gas reserves totaling 2.5 billion cubic feet (a six-fold increase from 1980).

Swift Energy has demonstrated concern for the environment from its beginning. In 1983, Swift’s drilling location reclamations resulted in the Company winning the State of West Virginia’s Category I award for conservation of the soil and water.

Swift Energy’s experience in building and operating gas gathering systems also began early in the Company’s history. In 1983, Swift managed the design and construction a 6.8-mile, 8-inch gas gathering system in Taylor County, West Virginia called the Taylor Gathering System (TAGS). By December 1983, TAGS provided a means for moving gas to a sales outlet from 63 Swift-operated wells and 12 wells operated by others.

This page was last updated on Tuesday, June 10, 2008, at 10:02:38 AM.

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