October 30, 2009. In terms of reserves and production, the Sun TSH (Tri Bar) Field in La Salle County is the second largest field in Swift Energy’s South Texas core area of operation, where the company has extensive experience in producing from a tight-sand formation.

(Note: During 2010 and 2011 we began drilling to the Eagle Ford shale formation in LaSalle County, which is known as the Artesia Wells field.)

We purchased the Sun TSH Field in 2007 as part of an approximately 82,000-acre acquisition for $248 million that also included the Briscoe Ranch Field and Las Tiendas Field in contiguous counties.  A year later we expanded this acquisition to approximately 88,700 net acres with the purchase of additional interests in the Briscoe Ranch Field.  Of the acquisition’s total acreage at year-end 2008, the Sun TSH Field accounted for 12,500 net acres (14%). We continued to expand our position in the area during 2009, and as of July 31, 2009, our interests in Sun TSH included 15,000 net undeveloped acres in the Olmos formation and 8,000 net undeveloped acres in the Eagle Ford shale.

Click here for interactive map of all Swift properties.

We have both two-dimensional and three-dimensional seismic datasets covering a significant portion of the Sun TSH Field, which produces from a depth of 5,500-6,000 feet in the Escondido sands and 7,000-8,000 feet in the Olmos sand. In the future, we plan to evaluate the potential that the field may have for the Eagle Ford shale formation. We also are analyzing the results of our horizontal wells with multiple fracture stimulations drilled in 2008 and 2009 in the nearby AWP Field in South Texas to determine if this technology would be applicable to formations in the Sun TSH Field. We have had operations in the AWP Field for 20 years, and our addition of Sun TSH (and Briscoe Ranch and Las Tiendas) to the area illustrates our strategy of adding properties near existing operations where we have expertise in analyzing reservoirs and applying advanced technology.

In 2008, we completed 20 out of 23 development wells in the Sun TSH Field with a drilling success rate of 87%. One additional natural gas development well still being drilled at year-end was concluded in the first quarter of 2009 and is now awaiting completion. Looking ahead, we have 55 proved undeveloped locations (PUDs) that were identified at year-end 2008 for our Sun TSH property.

Under Swift Energy’s operation in 2008, the Sun TSH Field produced 457.4 MBoe of natural gas, 400.8 MBoe of natural gas liquids, and 95.0 MBoe of oil, contributing 9.4% to the company’s total production. At year-end 2008, the Sun TSH Field held 12.5 MMBoe in proved reserves, accounting for 10.7% of the company’s total reserves. These reserves were 52.7% oil and natural gas liquids and were 58.4% developed at year-end 2008.

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

May 3, 2012: PRESS RELEASE. During first-quarter 2012 we drilled five operated wells to the Eagle Ford in the Artesia Wells field in La Salle County.

We also completed one operated well in the Artesia Wells field that had been drilled in fourth-quarter 2011.

Initial Production Test Rates of Horizontal Wells
Completed in Artesia Wells Field in First Quarter 2012
(Operated and 100% Working Interest, unless otherwise noted)