Operational Updates
Swift Energy Tweaks Eagle Ford Drilling Operations
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Swift Energy Company announced today earnings from continuing operations of $3.0 million for the second quarter of 2012, or $0.07 per diluted share, a decrease of 89% when compared to second quarter 2011 earnings from continuing operations of $26.7 million, or $0.61 per diluted share and a decrease of 15% when compared to earnings of $3.6 million in the first quarter of 2012.
Swift Energy produced 2.92 million barrels of oil equivalent (“MMBoe”) during the second quarter of 2012, an 11% increase over second quarter 2011 production of 2.64 MMBoe, and a 4% sequential increase compared to first quarter 2012 production of 2.80 MMBoe.
Terry Swift, CEO of Swift Energy commented, “As demonstrated by Swift Energy’s second quarter results, our focus on crude oil directed activity is becoming…
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