Current News

July 7, 2015– Press Release – Houston, TX
Swift Energy Announces Second Quarter 2015 Earnings Release and Conference Call.
Swift Energy Company will report its second quarter financial results on Thursday, August 6, 2015 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. CDT. To participate in this conference call, dial 877-420-2751 five to ten minutes before the scheduled start time and indicate your intention to participate in the Swift Energy conference call using Conference ID # 80676617. A digital replay of the call will also be available two hours after the call’s completion on August 6 until August 20, by dialing 855-859-2056 and using Conference ID # 80676617. 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.

June 23, 2015– Press Release – Houston, TX
Swift Energy Announces Proposed New Senior Secured Term Loan.
Swift Energy Company announced today that it has initiated a process to obtain a new first-lien term loan (the "Proposed Term Loan"). The principal amount of the Proposed Term Loan is expected to be $640 million. The loan would mature five years after the closing, which is anticipated to occur in mid-July. The Company expects that the Proposed Term Loan would be fully drawn at closing.

May 7, 2015 – 2015 Form 10-Q for First Quarter
Swift Energy's Form 10-Q for the quarter ended March 31, 2015, is now available on this web site in HTML and PDF. Also see XBRL.

May 7, 2015– Press Release – Houston, TX
Swift Energy Announces First Quarter 2015 Results.
Swift Energy Company reported today its first quarter 2015 financial and operating results. The Company produced 3.06 million barrels of oil equivalent (“MMBoe”) during the first quarter of 2015, a 4% increase over first quarter 2014 production of 2.94 MMBoe, and up 2% compared to fourth quarter 2014 production of 3.00 MMBoe.  The Company reported an adjusted net loss for the first quarter of 2015 of $36.5 million, or $0.83 per diluted share, which excludes the non-cash ceiling test write-down of its oil and gas properties of $502.6 million (a pre-tax and non-GAAP measure – see page 7 for reconciliation to the GAAP measure). The GAAP net loss for the first quarter 2015 was $477.1 million, or $10.79 per diluted share. This compares to GAAP net income of $5.4 million, or $0.12 per diluted share earned in the same quarter in 2014. First quarter 2015 cash flow before working capital changes (a non-GAAP measure - see page 7 for reconciliation to the GAAP measure) of $9.3 million decreased 88% compared to $74.7 million of adjusted cash flow for the first quarter of 2014.  Total revenues for the first quarter of 2015 decreased 53% to $68.3 million from the $144.2 million generated in the first quarter of 2014.  This decrease is primarily attributable to lower commodity prices as well as lower oil production, partially offset by higher natural gas production.

April 14, 2015– Press Release – Houston, TX
Swift Energy Presentation at IPAA Oil & Gas Investment Symposium New York to Be Webcast.
Swift Energy Company’s President and CEO, Terry Swift, will give Swift Energy’s corporate presentation Monday, April 20, 2015, at 2:00 p.m. EDT to the investment community via live audio webcast at the IPAA Oil & Gas Investment Symposium (OGIS) Conference in New York. The live audio webcast of the presentation and accompanying slide materials can be accessed through Swift Energy’s website www.swiftenergy.com. To listen to this live presentation, viewers are encouraged to go to the Company’s website at least fifteen minutes prior to the scheduled time to register. A replay of the presentation will be available within 24 hours of the live presentation.

April 8, 2015– Press Release – Houston, TX
Swift Energy Announces Its First Quarter 2015 Earnings Release and Conference Call.
Swift Energy Company will report its first quarter financial results on Thursday, May 7, 2015 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. CDT. To participate in this conference call, dial 877-420-2751 five to ten minutes before the scheduled start time and indicate your intention to participate in the Swift Energy conference call using Conference ID # 21569652. A digital replay of the call will also be available two hours after the call’s completion on May 7 until May 21, by dialing 855-859-2056 and using Conference ID # 21569652. 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 3, 2015– 2015 Proxy Statement
Swift Energy's 2015 Proxy Statement is now online in HTML and PDF.

April 3, 2015 – 2014 Annual Report
Swift Energy's 2014 Annual Report is now online in HTML and PDF.

March 2, 2015 – 2014 Form 10-K – Houston, TX
Swift Energy's Form 10-K for the period ended December 31, 2014, is now available on this website in HTML and PDF. See also XBRL.

February 26, 2015– Press Release – Houston, TX
Swift Energy Announces Fourth Quarter and Year-End 2014 Results.
Swift Energy Company reported today its 2014 year-end and fourth quarter financial and operating results. Swift Energy’s full year 2014 production was 12.39 MMBoe, an increase of 5% compared to 2013 production of 11.75 MMBoe.  Production for the fourth quarter 2014 of 3.00 MMBoe was roughly flat with third quarter 2014 levels and decreased 3% compared to fourth quarter 2013 production of 3.09 MMBoe. Full year production in the Eagle Ford, where approximately 85% of 2014 capital spending was directed, was 8.39 MMBoe, an increase of 32% from 2013 production of 6.36 MMBoe.

January 26, 2015– Press Release – Houston, TX
Swift Energy Announces Its Fourth Quarter and Year-End 2014 Earnings Release and Conference Call.
Swift Energy Company will report its fourth quarter and year-end 2014 financial and operational results on Thursday, February 26, 2015 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 877-420-2751 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 26 until March 12, by dialing 855-859-2056 and using Conference ID # 73572178.  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.

January 14, 2015– Press Release – Houston, TX
Swift Energy President and Board Member Bruce H. Vincent to Retire; Ron Saxton and William A. Bruckmann III Appointed As Independent Board Members.
Swift Energy Company reported that Bruce H. Vincent (67), Swift Energy’s President, has announced his retirement effective February 15, 2015, along with his resignation as a member of the Swift Board of Directors as of the same date.  Mr. Vincent has served as President of Swift Energy since November 2004 and as a Swift Energy director since May 2005, having first joined the Company in 1990. Terry Swift, Swift Energy’s chief executive officer, will assume the role of President. Also effective February 16, 2015, Swift Energy’s board has appointed Ron Saxton and William A. Bruckmann III as board members, increasing the size of the board to eight, seven of whom are independent directors. 

January 13, 2015– Press Release – Houston, TX
Swift Energy Announces Revised 2015 Capital Budget and Updates Operations.
Swift Energy Company today announced a revised 2015 capital budget range of $100 - $125 million in response to recent hydrocarbon price declines. This revised level of activity is projected to yield between 11.2 and 11.4 million barrels of oil equivalent (“MMBoe”) of production.

November 17, 2014 – Press Release – Houston, TX
Swift Energy Files Restated 2013 Full-Year and 2014 Quarterly Financial Reports and Files Initial Third Quarter 2014 Report.
Swift Energy Company today announced that it has filed with the Securities and Exchange Commission (the “SEC”) restated financial results contained in an amended 2013 Form 10-K Annual Report and amended 2014 Form 10-Q quarterly reports for the first two quarters of 2014.  In addition, the Company has filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2014.

November 17, 2014 – 2014 Amended Filings
Swift Energy's Amended filings for 2013 Form 10-K/A for period ended December 31, 2013, in HTML / PDF and XBRL, 2014 Form 10-Q/A for the quarter ended March 31, 2014, in HTML / PDF and XBRL, and 2014 Form 10-Q/A for the quarter ended June 30, 2014, in HTML / PDF and XBRL are now available on this web site.

November 17, 2014 – 2014 Form 10-Q for Third Quarter
Swift Energy's Form 10-Q for the quarter ended September 30, 2014, is now available on this web site in HTML and PDF. Also see XBRL.

November 11, 2014 – Press Release – Houston, TX
Swift Energy to Restate 2013 Full-Year and 2014 Quarterly Financial Results to Correct Understatement of Retained Earnings and Overstatement of Full Cost Ceiling Test Write-Down.
Swift Energy Company today announced that as a result of an error in the model used to determine historical ceiling test write-downs by including the tax effect of asset retirement obligations, it will restate financial results contained in its 2013 Form 10-K Annual Report and 2014 Form 10-Q quarterly reports, as applicable, filed for periods ended December 31, 2013, March 31, 2014, and June 30, 2014.

November 6, 2014 – Press Release – Houston, TX
Swift Energy Announces: Third Quarter 2014 Production of 2.99 MMBoe; Adjusted Cash Flow of $74.9 Million; Expanded Fasken Takeaway Now Fully Operational.
Swift Energy Company announced third quarter 2014 results today, including 2.99 million barrels of oil equivalent (“MMBoe”) of production, $74.9 million in adjusted cash flow and $2.5 million in net income, or $0.06 per diluted share. As expected, Swift Energy’s production decreased approximately 2% when compared to that in the third quarter of 2013 primarily due to the sale of a 36% interest in the Company’s Fasken properties in South Texas early in the quarter. The 2.99 MMBoe produced during the third quarter of 2014 compares to third quarter 2013 production of 3.06 MMBoe. Production was driven by the Company’s Eagle Ford properties in South Texas, where third quarter 2014 net production was 26,821 barrels of oil equivalent per day, an increase of approximately 5% compared to third quarter 2013 levels.  South Texas gross production volumes, inclusive of the 36% interest in Fasken sold during the quarter, grew 19% from comparable third quarter 2013 volumes. The Company’s net income in the third quarter of 2014 was $2.5 million, or $0.06 per diluted share, compared to third quarter 2013 net income of $8.9 million, or $0.20 per diluted share. Included in third quarter 2014 net income is an approximate $1.2 million pre-tax gain recorded for a quarter-end, non-cash fair value adjustment associated with the Company’s ongoing price risk management program. 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 2014 was $74.9 million, compared to $88.5 million in the third quarter of 2013.

October 17, 2014 – Press Release – Houston, TX
Swift Energy Comments on Form 13D Filing.
Swift Energy Company, a leading company engaged in developing, exploring, acquiring and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana, today confirmed receipt of a letter to its Board of Directors from Baker Street Capital, LLC.  The Company welcomes the perspectives of its shareholders and has a longstanding policy of open communications with all of its investors, including Baker Street Capital, LLC.  The Swift Energy Board of Directors and management team regularly evaluate the Company's strategic priorities, capital structure and allocation of capital expenditures. The Company works towards the goal of enhancing value for all shareholders by taking the right steps to manage the business while focusing on strategic initiatives to position Swift for long-term success.

October 6, 2014 – Press Release – Houston, TX
Swift Energy Announces Its Third Quarter 2014 Earnings Release and Conference Call.
Swift Energy Company will report its third quarter financial results on Thursday, November 6, 2014 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 November 6 until November 13, by dialing 855-859-2056 and using Conference ID # 14079896. 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.

September 19, 2014 – 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 22, 2014, at 9:45 a.m. PDT to the investment community via live audio webcast at the IPAA Oil & Gas Investment Symposium (OGIS) Conference in San Francisco.

August 1, 2014 – 2014 Form 10-Q for Second Quarter
Swift Energy's Form 10-Q for the quarter ended June 30, 2014, is now available on this web site in HTML and PDF. Also see XBRL.

July 31, 2014 – Press Release – Houston, TX
Swift Energy Announces: 24% Increase in Second Quarter 2014 Production to 3.45 Million Barrels of Oil Equivalent; 24% Increase in Second Quarter 2014 Adjusted Cash Flow to $90.0 Million; 20% Increase in Second Quarter 2014 Net Income to $8.0 Million, or $0.18 Per Diluted Share.
Swift Energy Company announced second quarter 2014 results today including a 24% increase in production, a 24% increase in adjusted cash flow and a 20% increase in net income, when compared to the second quarter of 2013. Swift Energy’s production increased 24% to 3.45 million barrels of oil equivalent (“MMBoe”) during the second quarter of 2014, when compared to second quarter 2013 production of 2.78 MMBoe, and a 17% increase over first quarter 2014 production of 2.94 MMBoe.  This production growth was driven by the Company’s Eagle Ford properties in South Texas, where second quarter 2014 production from the Eagle Ford formation was approximately 26,600 barrels of oil equivalent per day, an increase of approximately 71% compared to second quarter 2013 levels. The Company’s net income rose by 20% for the second quarter of 2014 to $8.0 million, or $0.18 per diluted share, an increase from the second quarter 2013 net income of $6.7 million, or $0.15 per diluted share, and increased 48% compared to net income of $5.4 million, or $0.12 per diluted share, in the first quarter of 2014. 

July 15, 2014 – Press Release – Houston, TX
Swift Energy and PT Saka Energi Indonesia Close Joint Venture to Develop Fasken Eagle Ford Acreage.
Swift Energy Company (“Swift Energy”) today closed its previously announced agreement with PT Saka Energi Indonesia (“Saka”) to fully develop 8,300 acres of Fasken area Eagle Ford shale properties owned by Swift Energy in Webb County, Texas.  Swift Energy sold a 36% full participating interest in Swift Energy’s Fasken properties to Saka for $175 million in total cash consideration, with $125 million (subject to adjustments for interim operations) to be paid at closing and $50 million in cash to be paid by Saka over time to carry a portion of Swift Energy’s field development costs incurred after the January 1, 2014 effective date.

July 1, 2014 – Press Release – Houston, TX
Swift Energy Announces Its Second Quarter 2014 Earnings Release and Conference Call.
Swift Energy Company will report its second quarter financial results on Thursday, July 31, 2014 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. CDT.  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 July 31 until August 6, by dialing 855-859-2056 and using Conference ID # 61082965.  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.

June 2, 2014 – Press Release – Houston, TX
Swift Energy Announces New Eagle Ford Well Tests.
Swift Energy Company announced today that it has tested three new Eagle Ford wells in the Fasken area in Webb County, Texas.  The Fasken C 17H, 18H and 19H were all recently completed with an average initial production rate of 21.4 million cubic feet of gas per day (“MMcf/d”).

May 6, 2014 – Press Release – Houston, TX
Swift Energy Company and PT Saka Energi Indonesia Announce Agreement to Jointly Develop Fasken Eagle Ford Acreage in South Texas.
Swift Energy Company (“Swift Energy”) and PT Saka Energi Indonesia (“Saka”) announced that U.S. subsidiaries of  Swift Energy and Saka have executed  definitive agreements to fully develop approximately 8,300 acres of Fasken area Eagle Ford shale properties owned by Swift Energy in Webb County, Texas.  Closing is anticipated on or about June 30, 2014, subject to normal closing conditions. The executed agreements, effective January 1, 2014, provide for Saka to pay Swift Energy $175 million in total cash consideration to acquire a 36% full participating interest in Swift Energy’s Fasken properties.  The consideration is comprised of $125 million in cash to be paid at closing and $50 million in cash to be paid by Saka to carry a portion of Swift Energy’s future field development costs. 

May 6, 2014 – Press Release – Houston, TX
Swift Energy Company Contracts for Additional Firm Transportation, More Than Doubling Current Capacity for Its Fasken Area Production.
Swift Energy Company announced today that it has expanded a long term agreement for natural gas gathering services in Webb County, TX  with Howard Energy Partners and its affiliates.  Under the terms of this expanded agreement, Swift Energy will have up to 160 million cubic feet of gas per day of firm capacity for its Fasken area natural gas production. The Company currently expects this capacity to be available early in 2015.

May 6, 2014 – Press Release – Houston, TX
Swift Energy Company Updates Full Year 2014 Operating and Financial Guidance.
Swift Energy Company announced today revised operating and financial guidance estimates for the 2014 calendar year in anticipation of the scheduled June 30, 2014 closing of a joint venture with Saka Energi Indonesia, covering the Company’s Fasken area in Webb County, Texas.

May 1, 2014 – 2014 Form 10-Q for First Quarter
Swift Energy's Form 10-Q for the quarter ended March 31, 2014, is now available on this web site in HTML and PDF. Also see XBRL.

May 1, 2014 – Press Release – Houston, TX
Swift Energy Announces: First Quarter Production of 2.94 Million Barrels of Oil Equivalent; First Quarter 2014 Net Income of $5.4 Million, or $0.12 Per Diluted Share; First Quarter 2014 Adjusted Cash Flow of $73.6 Million, or $1.67 Per Diluted Share.
Swift Energy Company announced today net income of $5.4 million for the first quarter of 2014, or $0.12 per diluted share, a decrease compared to first quarter 2013 net income of $7.2 million, or $0.17 per diluted share, and an increase compared to a net loss of $41.8 million in the fourth quarter of 2013.  Included in first quarter 2014 net income is a pre-tax loss of $3.4 million, or $0.04 per diluted share, for a non-cash fair value adjustment associated with the Company’s ongoing price risk management program. 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 of 2014 increased 1% to $73.6 million, compared to $72.6 million for that measure in the first quarter of 2013, and decreased 5% when compared to adjusted cash flow of $77.8 million for the fourth quarter of 2013. Swift Energy produced 2.94 million barrels of oil equivalent (“MMBoe”) during the first quarter of 2014, a 4% increase over first quarter 2013 production of 2.82 MMBoe, and down 5% compared to fourth quarter 2013 production of 3.09 MMBoe. 

April 3, 2014– 2014 Proxy Statement
Swift Energy's 2014 Proxy Statement is now online in HTML and PDF.

April 3, 2014 – 2013 Annual Report
Swift Energy's 2013 Annual Report is now online in HTML and PDF.

April 3, 2014 – Press Release – Houston, TX
Swift Energy Announces Its First Quarter 2014 Earnings Release and Conference Call.
Swift Energy Company reported its first quarter financial results on Thursday, May 1, 2014 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. CDT.  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 using Conference ID # 23346137.  A digital replay of the call will also be available two hours after the call’s completion on May 1 until May 8, by dialing 855-859-2056 and using Conference ID # 23346137.  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 3, 2014 – 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 Monday, April 7, 2014, at 10:00 a.m. EDT to the investment community via live audio webcast at the IPAA Oil & Gas Investment Symposium (OGIS) Conference in New York.

March 25, 2014 – Press Release – Houston, TX
Swift Energy Announces New Eagle Ford Well Tests.
Swift Energy Company announced today that it has tested three new Eagle Ford wells in the Fasken area in Webb County, TX. The Fasken BD 14H, 15H and 16H were all recently completed with an average initial production rate of 22.1 million cubic feet of gas per day. The Company has also completed three new Eagle Ford wells in the northern part of its McMullen County, TX acreage position during the first quarter. The PCQ 14H, 15H and 16H achieved an average initial production rate of 1,212 barrels of oil equivalent during their test periods.

March 3, 2014 – 2013 Form 10-K – Houston, TX
Swift Energy's Form 10-K for the period ended December 31, 2013, is now available on this website in HTML and PDF. See also XBRL.

February 27, 2014 – Press Release – Houston, TX
Swift Energy Announces Fourth Quarter and Full-Year 2013 Results.
Swift Energy Company announced today a net loss for the fourth quarter of 2013 of $41.8 million, or $0.96 per diluted share, which includes a non-cash ceiling test write-down of its oil and gas properties of $73.9 million (pre-tax).  Net income before write-down of oil and gas properties (a non-GAAP measure) for the fourth quarter 2013 is $5.8 million, or $0.13 per diluted share, a decrease of 48% compared to net income of $11.2 million ($0.26 per diluted share) earned in the same quarter in 2012. For the full year 2013, Swift Energy had a loss of $19.0 million, or $0.44 per diluted share, which includes a non-cash ceiling test write-down of its oil and gas properties of $73.9 million (pre-tax).  Net income before write-down of oil and gas properties (a non-GAAP measure - see page 9 for reconciliation to the GAAP measure) for the full year 2013 is $28.6 million, or $0.66 per diluted share, a 37% increase compared to $20.9 million of net income for 2012, or $0.48 per diluted share.  Swift Energy’s full year 2013 production was 11.75 million barrels of oil equivalent (“MMBoe”), which increased from 2012 production of 11.70 MMBoe.  Production for the fourth quarter 2013 of 3.09 MMBoe increased 1% from third quarter 2013 production of 3.06 MMBoe and decreased slightly compared to fourth quarter 2012 production of 3.11 MMBoe. Full year production in the Company’s South Texas area, where approximately 80% of capital spending was directed, was 9.0 MMBoe, an increase of 5% from 2012 production of 8.6 MMBoe. Cash flow before working capital changes (a non-GAAP measure) for 2013 increased 2% to $311.7 million, or $7.19 per diluted share, compared to $304.5 million, or $7.05 per diluted share, for the full year 2012.  Fourth quarter 2013 cash flow before working capital changes of $77.8 million, or $1.79 per diluted share, decreased 15% compared to $91.4 million of adjusted cash flow, or $2.11 per diluted share, for the fourth quarter of 2012.  (PDF version)

January 27, 2014 – Press Release – Houston, TX
Swift Energy Announces Its Fourth Quarter and Year-End 2013 Earnings Release and Conference Call.
Swift Energy Company will report its fourth quarter and year-end 2013 financial and operational results on Thursday, February 27, 2014 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 27 until March 6, by dialing 855-859-2056 and using Conference ID # 41567432. 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: Monday, July 6, 2015 6:21 PM