Core Areas Overview
Updates
May 6, 2010. Swift Energy’s oil and gas operations are focused along the U.S. Gulf Coast in the onshore and inland-water areas of Louisiana and Texas. We have four core areas of operation, each consisting of a group of parishes or counties within which we operate producing oil and natural gas fields and maintain a program of development and exploratory drilling. The areas are identified as (1) Southeast Louisiana, (2) South Texas, (3) Central Louisiana/East Texas, and (4) South Louisiana (see map). (Note: During 2008 we completed the sale of New Zealand assets we had operated for several years.)
Each of our four core areas has its own multidisciplinary Asset Development Team responsible for managing the fields within the core area, thereby providing the company with profit from the fields' combined production. A core area may be expanded through the discovery of new reserves or through the acquisition of additional reserves in established fields within the area.
Our current core areas of operation have resulted from our long-term strategy of focusing on multiple fields within specific geographical areas that are sufficiently separated to provide a balance of reserves with respect to oil vs. natural gas, developed vs. undeveloped, and short-lived vs. long-lived. By maintaining majority working interests in essentially all of the areas’ fields, we serve as operator of the fields, and by operating the fields within a core area together, we capitalize on economy of scale, minimize costs, and better utilize our technical and operational expertise.
This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so do your own due diligence before and consult a licensed professional making any decisions.
