Swift Energy Co., Houston, (NYSE: SFY) has closed the acquisition of interests in operated wells and acreage in the northeast and southeast of its existing acreage in Lake Washington Field in Plaquemines Parish, Louisiana, from an undisclosed seller for $20 million. The purchase price was funded through bank borrowings. Swift estimates the acquisition includes proved reserves of approximately 1 million barrels of oil equivalent (36% proved developed) and probable and possible reserves of 1.7 million barrels of oil equivalent. The acquired properties also have current production of approximately 275 barrels of oil equivalent per day (86% oil). The acquired interests vary from 40% to 100% and consist of approximately 4,400 gross acres (2,800 net), with an average net revenue interest of approximately 68%.

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