October 30, 2009. The South Bearhead Creek Field is located in the southwest corner of Beauregard Parish, Louisiana, and is one of four producing fields that Swift Energy operates in its Central Louisiana/East Texas core area of operations. We first obtained significant interests in the field in a late-2005 acquisition and then increased them soon after to 100% in a second acquisition. At year-end 2008, we owned drilling and production rights in 9,185 net acres in the field.

The South Bearhead Creek Field produces primarily from the upper and lower Wilcox sands at depths of 9,000 feet to 14,500 feet, but also has some production from the Cockfield sands at shallower depths (8,000 feet to 9,000 feet).

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We have had a 100% success rate in our drilling program in South Bearhead Creek. We began in 2006 with three development wells completed in the Wilcox sands. We drilled almost continuously in 2007, completing 10 more development wells in the Wilcox sands and one well in the Cockfield sands. In 2008, we completed another five development wells—four in the first quarter of the year and one in the fourth quarter. With the company’s temporary suspension of drilling activity in 2009, no additional wells were drilled in the field during the first three quarters of 2009.

At year-end 2008, we had 38 producing wells in South Bearhead Creek, all operated by us. The field provided 5.5% of Swift’s total 2008 production of 10.0 MMBoe. The production consisted of 68.6% oil and 31.4% natural gas.

The reserves held by South Bearhead Creek at year-end 2008 (6.2 MMBoe) represented 5.3% of the company’s year-end reserves. They consisted of 67.9% oil and were 45% undeveloped. The field had 16 proved undeveloped locations (PUDs).

While drilling in South Bearhead Creek was placed on hold at year-end 2008 because of low commodity prices, drilling will be resumed as the industry environment improves.

This web page may contain "forward-looking statements" as defined in Section 21E of the Securities Exchange Act of 1934, as amended. Any opinions, forecasts, projections, or other statements other than statements of historical fact are forward-looking statements. Although Swift Energy Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Certain risks and uncertainties inherent in the company's business are set forth in the filings of the company with the Securities and Exchange Commission. (See Terms of Use.)

Updates

There have been no updates for this page since the February 25, 2010, posting.

February 25, 2010: 2009 FORM 10-K. At year-end 2009, 6.8 MMBoe, or 6.0%, of the company’s total reserves were in the South Bearhead Creek Field. For the year 2009, this field provided 5.3% of the company’s production. Approximately 68.5% of the proved reserves of 6.8 MMBoe in the South Bearhead Creek Field consisted of oil and NGLs, and 2.8 MMBoe, or 41%, of the reserves were undeveloped.

During 2009, we did not drill any wells in the South Bearhead Creek Field and have no plans for drilling in the field in 2010. At year-end 2009 we had identified 18 PUDs in the field.

For additional information, please see the latest Form 10-K and Form 10-Q.