Swift Energy Co fka SFYWQ

[OilStockReport]

Core Areas of Operation

Currently our operational activities are largely focused in our Southeast Louisiana area and South Texas area. Both areas have long-lived reserves that will provide us with production for years into the future.

In Southeast Louisiana, where we have been drilling in inland waters since 2001, we target multilayered Miocene sands at depths varying between 3,000 feet and greater than 20,000 feet. The area contains two fields, the Lake Washington Field and the Bay de Chene Field, each of which surrounds a central submerged salt dome. The area also contains a producing area between the two fields that resulted from a 2008 discovery well (Shasta). All exploration and development in this area is entirely seismic led (see Louisiana Geoscience Databases).

In South Texas, we have focused for over 20 years on the tight Olmos sand at depths of approximately 11,500 feet in the company’s AWP Field and more recently at shallower depths in other South Texas fields acquired in 2007 (the Briscoe, Las Tiendas, and Sun TSH fields). In late 2008, we began a horizontal drilling program in the Olmos sand, and in late 2009 we initiated a second horizontal drilling program in the deeper Eagle Ford shale formation, both programs being largely conducted in the AWP Field. As part of the Eagle Ford shale program, we formed a joint venture with Petrohawk Energy Corporation on an approximately 26,000-acre portion of the field.

In Central Louisiana/East Texas, we target the Austin Chalk Trend and the Wilcox sands, the latter primarily in the area’s South Bearhead Creek Field, which we have operated since 2005. The area’s other three fields, Brookeland, Burr Ferry, and Masters Creek, all of which we have operated since 1998, produce from the Austin Chalk. In mid-2009, we entered into a joint venture agreement with Anadarko E&P Company LP for development and exploitation of a largely undeveloped area in the Burr Ferry Field beginning in 2010.

In South Louisiana, where we conduct both inland-water and land-based drilling, we target reserves in the Miocene sands and several other formations. The area includes five Swift-operated fields (Cote Blanche Island, Jeanerette, Horseshoe Bayou, Bayou Sale, and High Island) and one nonoperated field (Bayou Penchant). Like the Southeast Louisiana area, all exploration and development in these fields is entirely seismic led.