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Cash Strapped Eagle Ford E&P Swift Contemplates Alternative
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Swift Energy Company announced that it has retained Lazard Freres & Co. LLC to advise the Company’s management and Board of Directors with respect to capital structure, financing alternatives and related strategic opportunities.
As you might remember, Swift most recently tried to raise $640 million in the equity market.
Terry Swift, CEO and Chairman of the Board, said: "We believe the underlying assets that Swift Energy has developed have meaningful value, much of which can be realized even in today’s challenging environment. Consequently, we have retained Lazard to explore alternatives with respect to realigning our balance sheet including our senior notes which trade at levels significantly below face value, addressing certain maturities, and enhancing our liquidity profile. We believe…
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