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Swift Drills Its Longest Eagle Ford Lateral To-Date; Details Key Wells
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Swift Energy Company announced third quarter 2014 results today, including 2.99 million barrels of oil equivalent 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…
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