Swift Energy Announces New Eagle Ford Well Tests
http://finance.yahoo.com/news/swift-ene ... 00677.html
New SFYResults
Re: New SFYResults
I added at $10.84 on this senseless dip. The news is good.
Re: New SFYResults
Swift Energy Company (SFY) announced today that it has tested three new Eagle Ford wells in the Fasken area in Webb County, Texas. The Fasken C 17H, 18H and 19H were all recently completed with an average initial production rate of 21.4 million cubic feet of gas per day (“MMcf/d”). [These are HUGE gas wells that will probably produce at about half their test rates. - Dan]
The Company has also completed two new Eagle Ford wells in the northern part of its McMullen County, Texas acreage position. The PCQ 17H and 18H achieved an average initial production rate of 1,404 barrels of oil equivalent during their test periods. [These are also very good wells. - Dan]
Terry Swift, CEO of Swift Energy commented, “We are extremely pleased with our drilling and completion efforts in our Eagle Ford acreage. Our recent PCQ and Fasken well results demonstrate the multiple benefits from our technical improvements. We’re drilling smart, cost effective wells in a top tier manner. In our Fasken development project announced a month ago, we and our partner plan to take the steps necessary to increase the value of this premier Eagle Ford asset. Our last 8 Fasken wells (2 in late 2013 and 6 so far in 2014) have all been high rate wells with average initial production tests in excess of 20 MMcf/d. By early next year, we expect to have our Fasken firm pipeline capacity increase from 75 MMcfpd to 160 MMcfpd. Successful execution of this disciplined plan should place Swift Energy firmly among the top 20 Texas natural gas producers in 2015.”
Swift Energy Company, founded in 1979 and headquartered in Houston, engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana.
The Company has also completed two new Eagle Ford wells in the northern part of its McMullen County, Texas acreage position. The PCQ 17H and 18H achieved an average initial production rate of 1,404 barrels of oil equivalent during their test periods. [These are also very good wells. - Dan]
Terry Swift, CEO of Swift Energy commented, “We are extremely pleased with our drilling and completion efforts in our Eagle Ford acreage. Our recent PCQ and Fasken well results demonstrate the multiple benefits from our technical improvements. We’re drilling smart, cost effective wells in a top tier manner. In our Fasken development project announced a month ago, we and our partner plan to take the steps necessary to increase the value of this premier Eagle Ford asset. Our last 8 Fasken wells (2 in late 2013 and 6 so far in 2014) have all been high rate wells with average initial production tests in excess of 20 MMcf/d. By early next year, we expect to have our Fasken firm pipeline capacity increase from 75 MMcfpd to 160 MMcfpd. Successful execution of this disciplined plan should place Swift Energy firmly among the top 20 Texas natural gas producers in 2015.”
Swift Energy Company, founded in 1979 and headquartered in Houston, engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group