Current News

January 12, 2012 -- Press Release -- Houston, TX
Swift Energy Announces Fourth Quarter and Year-End 2011 Earnings Call and 2012 Analyst/Investor Meeting.Swift Energy Company will report its fourth quarter and year-end 2011 financial and operational results on Thursday, February 23, 2012 by issuing a news release before the market opens and conducting a conference call to discuss such results on that date at 9:00 a.m. CST. To participate in this conference call, dial 973-339-3086 five to ten minutes before the scheduled start time and indicate your intention to participate in the Swift Energy conference call. A digital replay of the call will also be available two hours after the call’s completion on February 23 until March 1, by dialing 855-859-2056 and using Conference ID # 41671533. Additionally, the conference call replay will be available over the internet by accessing the Company’s website at www.swiftenergy.com and by clicking on the event hyperlink. This webcast will be available online and archived at the Company’s website for approximately two weeks after the call.

November 15, 2011 -- Press Release -- Houston, TX
Swift Energy Announces Preliminary 2012 Capital Expenditure Plans. Swift Energy Company announced today preliminary plans for 2012 capital expenditures of $575 to $625 million. These expenditures will be allocated primarily towards drilling and completion activity, with approximately 75%–80% of expected expenditures focused on the Company’s liquids rich acreage in the Eagle Ford shale and the Olmos sands in South Texas. The remainder of 2012 expenditures is expected to be directed towards drilling oil wells in Southeast Louisiana and Austin Chalk oil and natural gas development wells in our Central Louisiana/East Texas core area.

November 15, 2011 -- Press Release -- Houston, TX
Swift Energy Prices $250 Million Senior Notes Private Offering. Swift Energy Company announced today that it has priced its sale of $250 million principal amount of senior notes due 2022 in a private offering to eligible purchasers. The new senior notes will carry a coupon interest rate of 7 7/8%, and are being sold at 99.156 of face value, which equates to an effective yield to maturity of 8%. The Company expects to close the notes offering on November 30, 2011, subject to satisfaction of customary closing conditions.

November 15, 2011 -- Press Release -- Houston, TX
Swift Energy Announces Private Offering of $250 Million of Senior Notes. Swift Energy Company announced today that it intends to offer $250 million of senior notes due 2022 in a private offering to eligible purchasers. Swift Energy intends to use the net proceeds from the offering for general corporate purposes, including funding of 2012 capital expenditures.

November 3, 2011 -- 2011 Form 10-Q for Third Quarter
Swift Energy's Form 10-Q for quarter ended September 30, 2011, is now available on this web site in HTML, PDF, and XBRL.

November 3, 2011 -- Press Release -- Houston, TX
Swift Energy Announces: 81% Increase in Third Quarter 2011 Earnings from Continuing Operations to $17 Million, or $0.39 Per Diluted Share; 46% Increase in Third Quarter 2011 Adjusted Cash Flow to $90 Million, or $2.11 Per Diluted Share; 23% Increase in Third Quarter 2011 Production to 2.54 Million Barrels of Oil Equivalent. Swift Energy Company announced today earnings from continuing operations of $17.0 million for the third quarter of 2011, or $0.39 per diluted share, an 81% increase when compared to third quarter 2010 earnings from continuing operations of $9.3 million, or $0.24 per diluted share. Adjusted cash flow (cash flow before working capital changes, a non-GAAP measure - see page 7 for reconciliation to the GAAP measure) for the third quarter of 2011 increased 46% to $90.0 million, or $2.11 per diluted share, compared to $61.7 million, or $1.62 per diluted share, for the third quarter 2010. Swift Energy production increased 23% to 2.54 million barrels of oil equivalent ("MMBoe") for the third quarter of 2011, when compared to third quarter 2010 production of 2.07 MMBoe.

October 21, 2011 -- Press Release -- Houston, TX
Swift Energy Closes Sale of Non-Strategic Properties. Swift Energy Company has closed the previously announced disposition of its interests in six fields in South Louisiana, two in Texas and one in Alabama with EnergyQuest II, LLC effective August 1, 2011. The final sales price of the property interests, which were sold, was $53.5 million. As previously indicated, Swift Energy will use the net cash proceeds of approximately $48.8 million from this transaction (as adjusted for cash flows from effective date through today’s closing date) to fund a portion of its 2011 capital expenditures. The acquisition sales price is subject to any customary post-closing adjustments, which are not expected to be material.

October 10, 2011 -- Press Release -- Houston, TX
Swift Energy Presentation at Canaccord Genuity Global Energy Conference to Be Webcast. Swift Energy Company’s Chief Operating Officer, Robert J. Banks, will give Swift Energy’s corporate presentation Wednesday, October 12, 2011 at 4:20 p.m. EDT to the investment community via live audio webcast at the 5th Annual Canaccord Genuity Global Energy Conference in Miami, FL.

October 4, 2011 -- Press Release -- Houston, TX
Swift Energy Announces Third Quarter 2011 Earnings Release and Conference Call Date. Swift Energy Company will release its third quarter 2011 financial results on Thursday, November 3, 2011 by issuing a news release before the market opens and conduct a conference call to discuss such results on that date at 10:00 a.m. EDT. To participate in this conference call, dial 973-339-3086 five to ten minutes before the scheduled start time and indicate your intention to participate in the Swift Energy conference call.

September 29, 2011 -- Press Release -- Houston, TX
Swift Energy Impacted by South Texas Pipeline Failure. Swift Energy Company announced today that due to the failure of a third party operated gathering line earlier this week, Swift Energy has been required to halt dry natural gas sales from its Fasken field in Webb County, TX. Gross natural gas sales volumes in the Fasken field were averaging approximately 40 million gross cubic feet per day before the failure occurred. Continued well productivity above initial expectations in this area led the Company to recently raise its expected well recovery estimates to 10 billion cubic feet per well. While the Company expects pipeline services to resume in the near future, the estimation of a service restoration date by the pipeline operator requires it to complete a full review of the damages and determine a specific repair timeline.

September 22, 2011 -- Press Release -- Houston, TX
Swift Energy Presentation at IPAA Oil & Gas Investment Symposium San Francisco to Be Webcast. Swift Energy Company’s President, Bruce H. Vincent will give Swift Energy’s corporate presentation Monday, September 26, 2011 at approximately 3:40 p.m. EDT to the investment community via live audio webcast at the IPAA Oil & Gas Investment Symposium (OGIS) in San Francisco.

September 6, 2011 -- Press Release -- Houston, TX
Swift Energy Updates Impact of Tropical Storm Lee on Coastal Louisiana Operations. Swift Energy Company announced that Saturday, September 3, it implemented standard shut-down procedures in several of its coastal Louisiana properties including the Lake Washington Field in Plaquemines Parish, Bay de Chene Field in Jefferson and Lafourche Parishes, and Horseshoe Bayou Field, Bayou Sale Field and Cote Blanche Island Field, in St. Mary’s Parish, due to the risk of adverse weather conditions caused by Tropical Storm Lee. All nonessential personnel and equipment were evacuated from these fields.

August 17, 2011 -- Press Release -- Houston, TX
Swift Energy Agrees to $53.5 Million Sale of Non-Strategic Properties. Swift Energy Company announced today that it has signed a purchase and sales agreement with a private oil and gas company to sell Swift Energy’s interests in six fields in South Louisiana, two in Texas and one in Alabama for approximately $53.5 million. Swift Energy will use net proceeds from this transaction to fund a portion of its 2011 capital expenditures. 

August 16, 2011 -- Press Release -- Houston, TX
Swift Energy Presentation at the 2011 Oil & Gas Conference to Be Webcast. Swift Energy Company’s Chief Financial Officer, Alton D. Heckaman, will give Swift Energy’s corporate presentation Wednesday, August 17, 2011, at 6:25 p.m. EDT to the investment community via live audio webcast at the 2011 Oil & Gas Conference in Denver, Colorado.

August 4, 2011 -- 2011 Form 10-Q for Second Quarter
Swift Energy's Form 10-Q for quarter ended June 30, 2011, is now available on this web site in HTML, PDF, and XBRL.

August 4, 2011 -- Press Release -- Houston, TX
Swift Energy Announces: 113% Increase in Second Quarter 2011 Earnings From Continuing Operations to $26.7 Million, or $0.61 Per Diluted Share; 61% Increase in Second Quarter 2011 Adjusted Cash Flow to $105.5 Million, or $2.47 Per Diluted Share; 30% Increase in Second Quarter 2011 Production to 2.64 Million Barrels of Oil Equivalent. Swift Energy Company announced today earnings from continuing operations of $26.7 million for the second quarter of 2011, or $0.61 per diluted share, a 113% increase when compared to second quarter 2010 earnings from continuing operations of $12.5 million, or $0.32 per diluted share.  Net income for the second quarter 2011 was $41.0 million and included the recognition of a $14.4 million non-cash gain from discontinued operations related to previously received proceeds from the sale of the Company’s New Zealand Kowhai permit. The gain was recognized in the current quarter after a settlement was recently reached and all legal claims were dismissed in relation to the permit sale. Adjusted cash flow (cash flow before working capital changes, a non-GAAP measure - see page 7 for reconciliation to the GAAP measure) for the second quarter 2011 increased 61% to $105.5 million, or $2.47 per diluted share, compared to $65.7 million, or $1.72 per diluted share, for the second quarter 2010.

July 25, 2011 -- Press Release -- Houston, TX
Swift Energy Announces 30% Period Over Period Production Growth and Updates Second Quarter 2011 Well Results. Swift Energy Company today announced second quarter 2011 production volumes of 2.64 million barrels of oil equivalent (“MMBoe”), 30% higher than second quarter 2010 production volumes and approximately the same as first quarter 2011 production volumes of 2.65 MMBoe. Lower than expected second quarter volumes were associated entirely with natural gas production in South Texas.  The largest factors affecting these sales volumes were pipeline curtailments, principally in late June.

July 5, 2011 -- Press Release -- Houston, TX
Swift Energy Announces Second Quarter 2011 Earnings Release and Conference Call Date. Swift Energy Company will release its second quarter 2011 financial results on Thursday, August 4, 2011 by issuing a news release before the market opens and conduct a conference call to discuss such results on that date at 10:00 a.m. EDT.  To participate in this conference call, dial 973-339-3086 five to ten minutes before the scheduled start time and indicate your intention to participate in the Swift Energy conference call.  A digital replay of the call will also be available on August 4 until August 11, by dialing 706-645-9291 and using Conference ID #   76135726.  Additionally, the conference call replay will be available over the internet by accessing the Company’s website at www.swiftenergy.com and by clicking on the event hyperlink.  This webcast will be available online and archived at the Company’s website for approximately two weeks after the call.

May 16, 2011 -- Press Release -- Houston, TX
Swift Energy Announces $400 Million Borrowing Base. Swift Energy Company announced today that in conjunction with the scheduled semi-annual review, its ten member bank group re-determined the Company’s borrowing base under its revolving credit facility to be $400 million, which is an increase from the previous borrowing base of $300 million. Swift Energy elected to retain the existing $300 million commitment amount.

May 5, 2011-- 2011 Form 10-Q for First Quarter
Swift Energy's Form 10-Q for quarter ended March 31, 2011, is now available on this web site. Also available in PDF format.

May 5, 2011 -- Press Release -- Houston, TX
Swift Energy Announces: 42% Increase in First Quarter 2011 Earnings to $20.2 Million, or $0.47 Per Diluted Share; 29% Increase in First Quarter 2011 Production to 2.65 Million Barrels of Oil Equivalent; 24% Increase in First Quarter 2011 Adjusted Cash Flow to $79.2 Million, or $1.86 Per Diluted Share. Swift Energy Company announced today earnings of $20.2 million for the first quarter of 2011, or $0.47 per diluted share, a 42% increase when compared to first quarter 2010 earnings of $14.2 million, or $0.37 per diluted share. Adjusted cash flow (cash flow before working capital changes, a non-GAAP measure - see page 6 for reconciliation to the GAAP measure) for the first quarter 2011 increased 24% to $79.2 million, or $1.86 per diluted share, compared to $64.0 million, or $1.69 per diluted share, for the first quarter 2010. Swift Energy produced 2.65 million barrels of oil equivalent (“MMBoe”) during the first quarter of 2011, which is a 29% increase compared to first quarter 2010 production of 2.04 MMBoe and a 21% increase over fourth quarter 2010 production of 2.18 MMBoe.

April 27, 2011 -- 2011 Proxy Statement
Swift Energy's 2011 Proxy Statement is now online in HTML and PDF Format.

April 18, 2011 -- Press Release -- Houston, TX
Swift Energy Announces Its First Quarter 2011 Earnings Release and Conference Call. Swift Energy Company will release its first quarter 2011 financial results on Thursday, May 5, 2011 by issuing a news release before the market opens and conduct a conference call to discuss such results on that date at 10:00 a.m. EDT.  To participate in this conference call, dial 973-339-3086 five to ten minutes before the scheduled start time and indicate your intention to participate in the Swift Energy conference call. A digital replay of the call will also be available two hours after the call’s completion on May 5 until May 12, by dialing 706-645-9291 and using Conference ID #56393760. Additionally, the conference call replay will be available over the internet by accessing the Company’s website at www.swiftenergy.com and by clicking on the event hyperlink. This webcast will be available online and archived at the Company’s website for approximately two weeks after the call.

April 11, 2011 -- Press Release -- Houston, TX
Swift Energy Presentation at IPAA Oil & Gas Investment Symposium New York to Be Webcast. Swift Energy Company’s President, Bruce H. Vincent, will give Swift Energy’s corporate presentation Tuesday, April 12, 2011, at 10:00 a.m. EDT to the investment community via live audio webcast at the IPAA Oil & Gas Investment Symposium (OGIS) in New York.

April 1, 2011 -- 2010 Annual Report
Swift Energy's 2010 Annual Report "Resource Full," is now online. Also in PDF Format.

March 10, 2011 -- Press Release -- Houston, TX
Swift Energy Details 2011 Capital Expenditure Plans and Operations at Analyst/Investor Meeting, Updates First Quarter 2011 Production Guidance. Swift Energy Company will host a meeting with financial analysts, portfolio managers and investors today beginning at 8:00 a.m. Central Time at the Hilton Houston North on Greenspoint Drive in Houston, Texas. At this meeting, Swift Energy’s management team will provide its annual briefing that will feature an update on certain 2010 operational initiatives and detail operational and financial plans and guidance for full year 2011.  An audio webcast accompanied with the slides of the presentation will be available on the Company’s website www.swiftenergy.com by clicking on the event hyperlink commencing this afternoon.

March 8, 2011 -- Press Release -- Houston, TX
Swift Energy Announces South Texas Midstream Service Agreements. Swift Energy Company announced today that it has entered into a long term agreement for natural gas gathering, processing and transportation services in South Texas  with Southcross Energy GP LLC and its affiliates. This agreement will involve the construction of a new pipeline to the Company’s AWP operating area in McMullen County, TX.  Swift Energy will have up to 90 million cubic feet of gas per day of firm capacity for those services. The Company currently expects the new pipeline to be in service mid-2011.

February 24, 2011 -- 2010 Form 10-K
Swift Energy's Form 10-K for period ended December 31, 2010, is now available on this web site. See also PDF and XBRL versions.

February 24, 2011 -- Press Release -- Houston, TX
Swift Energy Announces: Fourth Quarter 2010 Earnings of $10.3 Million, or $0.25 Per Diluted Share; Fourth Quarter 2010 Adjusted Cash Flow of $66.3 Million or $1.65 Per Diluted Share. Swift Energy Company announced today earnings for fourth quarter 2010 of $10.3 million, or $0.25 per diluted share, an increase of 10% when compared to $9.4 million in the third quarter of 2010 and a decrease of 29% when compared to earnings of $14.6 million in the fourth quarter of 2009. Adjusted cash flow (cash flow before working capital changes, a non-GAAP measure - see page 8 [in press release] for reconciliation to the GAAP measure) for fourth quarter 2010 increased 8% to $66.3 million, or $1.65 per diluted share, compared to adjusted cash flow of $61.7 million in the third quarter of 2010, and decreased when compared to adjusted cash flow of $78.9 million, or $2.10 per diluted share, for the fourth quarter. Swift Energy produced 2.18 million barrels of oil equivalent (“MMBoe”) during the fourth quarter of 2010, a 5% increase compared to third quarter 2010 production, and a 1% decrease compared to fourth quarter 2009 production of 2.21 MMBoe.

February 10, 2011 -- Press Release -- Houston, TX
Swift Energy Announces 2010 Reserves Growth of 18% and Updates Fourth Quarter Production. Swift Energy Company today announced 2010 proved reserves growth of 18%, fourth quarter 2010 production of 2.18 million barrels of oil equivalent (“MMBoe”) and reiterated its 2011 production and reserves guidance.

February 9, 2011 -- Press Release -- Houston, TX
Swift Energy Presentation at Credit Suisse Energy Summit to Be Webcast. Swift Energy Company’s Chief Financial Officer, Alton D. Heckaman, will give Swift Energy’s corporate presentation Thursday, February 10, 2011, at 12:35 p.m. EST to the investment community via live audio webcast at the Credit Suisse Energy Summit in Vail, CO.

February 2, 2011 -- Press Release -- Houston, TX
Swift Energy Presentation at IPAA Oil & Gas Investment Symposium Florida to Be Webcast. Swift Energy Company’s President, Bruce H. Vincent, will give Swift Energy’s corporate presentation Thursday, February 3, 2011, at 10:15 a.m. EST to the investment community via live audio webcast at the IPAA Oil & Gas Investment Symposium (OGIS) in Hollywood, FL.

January 12, 2011 -- Press Release -- Houston, TX
Swift Energy Announces Fourth Quarter and Year-End 2010 Earnings Call and 2011 Analyst/Investor Meeting. Swift Energy Company will report its fourth quarter and year-end 2010 financial and operational results on Thursday, February 24, 2011 by issuing a news release before the market opens and conducting a conference call to discuss such results on that date at 9:00 a.m. CST. To participate in this conference call, dial 973-339-3086 five to ten minutes before the scheduled start time and indicate your intention to participate in the Swift Energy conference call. A digital replay of the call will also be available two hours after the call’s completion on February 24 until March 3, by dialing 706-645-9291 and using Conference ID # 34894716. Additionally, the conference call replay will be available over the internet by accessing the Company’s website at www.swiftenergy.com and by clicking on the event hyperlink. This webcast will be available online and archived at the Company’s website for approximately two weeks after the call.

 

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Last modified: Friday, January 13, 2012 4:38 PM