Swift Energy Co.

Transaction Type
Sellers
Marketers
Basin
Gulf Coast
Field
Briscoe Ranch, Bego, Cote Blanche Island, High Island, Horseshoe Bayou & Bayou Sale, Jeanerette, Bayou Penchant, Chunchula
Post Date
Close Date
Estimated Price
0MM
Description

Swift Energy Co. has retained Macquarie Tristone to sellcertain assets in the Gulf Coast Basins of southern Louisiana and South Texas.

The package includes a 68% average working interest (54% net revenue interest) in 51,344 gross acres (35,035 net) in Briscoe Ranch and Bego fields in Texas and Cote Blanche Island, High Island, Horseshoe Bayou & Bayou Sale, Jeanerette and Bayou Penchant fields in Louisiana and Chunchula Field in Alabama. Swift operates all fields except Bayou Penchant and Chunchula.

The fields feature a total 142 wells targeting multiple stacked pays from the Cretaceous, Miocene, Pliocene and Oligocene formations.

Production is 10.56 million cubic feet of gas equivalent per day and monthly income is $1.63 million. Proved reserves are 96 billion cubic feet of gas equivalent (67% gas).

Upside includes recompletions and high-impact drilling.

The bid due date is early August. Data rooms open in early July. Contact David Hopkins, 713-651-4220, david.hopkins@macquarie.com.