Printer Friendly

SWIFT ENERGY REPORTS SUCCESSFUL TEST OF MAJOR GAS WELL AND FURTHER DEVELOPMENT OF WEATHERFORD, OKLA. PROPERTIES

SWIFT ENERGY REPORTS SUCCESSFUL TEST OF MAJOR GAS WELL AND FURTHER
 DEVELOPMENT OF WEATHERFORD, OKLA. PROPERTIES
 HOUSTON, June 30 /PRNewswire/ -- Swift Energy Company (NYSE: SFY; PSE: SFY), announced today that as operator it has completed the Wilson-Tate No. 1-24 well in Custer County, Okla., as a gas well producing from the Lower Red Fork formation. The well was perforated at a depth of 12,342-12,420 feet and after fracturing has been tested at a daily rate of 4.7 million cubic feet of gas with 67 barrels of 48 degree API gravity condensate on a 14/64" choke with 3,900 psig flowing tubing pressure. The perforated and producing zone is one of two significant zones in the well. Total net feet of productive pay in both zones is 62 feet. It is expected that production from the additional zone will commence upon depletion of the completed zone. In addition to the Wilson-Tate No. 1-24, the company has participated in the drilling and the logging of an additional well in the area where Swift Limited Partnerships own a 25 percent working interest. This second well, which has recently been drilled and is awaiting completion, has approximately 125 net feet of total pay in the Upper Red Fork formation. Results of this well will be announced when testing has been completed.
 Participants in the Wilson-Tate No. 1-24 include Swift Energy Company, partnerships formed by the company under its Swift Energy Income Partners, Swift Energy Managed Pension Assets Fund and Swift Depositary Interests Programs. Currently, Swift Energy Company holds directly 33.7 percent and, indirectly as general partner, 2.6 percent working interests. Swift managed limited partnerships collectively hold 24.9 percent. Fourteen other companies and individuals own working interests in the well, with working interests of less than 8 percent each.
 Commenting on the drilling success, A. Earl Swift, chairman and president said, "This significant natural gas development well is an example of the enhancements Swift Energy implements on properties owned by our income and pension partnership investors and is an example of exploration and drilling anticipated to continue in this area during the next 18 months. The company and its limited partnerships have interests in 1,382 immediate acres in three sections and varying interests in approximately 90 other 640 acre sections in this geologic basin containing a number of other excellent drilling prospects.
 Swift Energy Company is an independent oil and gas company primarily engaged in the acquisition, exploration, development and operation of oil and gas properties. It has interests in over 3,000 oil and gas wells located in 18 states of which it operates 674 wells and oversees the operation of the remainder.
 -0- 6/30/92
 /CONTACT: John R. Alden, senior vice president of Swift Energy, 713-874-2700, or 800-777-2412/
 (SFY) CO: Swift Energy Company ST: Texas IN: OIL SU:


TQ-SH -- NY015 -- 5033 06/30/92 09:10 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 30, 1992
Words:483
Previous Article:AT&T PARADYNE TO BEGIN SELLING ACCULINK(R) CONTROLLER BY SEPTEMBER 1992
Next Article:OUSTED AREA D SUPERINTENDENT SUES DETROIT SCHOOL BOARD
Topics:


Related Articles
SWIFT ENERGY REPORTS FIRST QUARTER PROPERTY ACQUISITIONS OF $20.1 MILLION AND PUBLIC PARTNERSHIP SALES OF $8.5 MILLION
SWIFT ENERGY COMPANY POSTS SIGNIFICANT INCREASE IN SECOND QUARTER EARNINGS
SWIFT ENERGY COMPANY POSTS SIGNIFICANT INCREASE IN THIRD QUARTER EARNINGS
SWIFT ENERGY REPORTS CONTINUED SUCCESS IN 1995 DRILLING PROGRAM WITH SIGNIFICANT WELL COMPLETION
SWIFT ENERGY REPORTS SIGNIFICANT WELL COMPLETION
SWIFT ENERGY REPORTS LOUISIANA EXPLORATION DISCOVERY
SWIFT ENERGY ANNOUNCES SUCCESSFUL COMPLETION OF THE FIRST WELL ON LEASEHOLD BEING JOINTLY DEVELOPED BY SWIFT ENERGY AND UNION PACIFIC RESOURCES IN...
Swift Energy Announces Significant Horizontal Well Success on Extension to Austin Chalk Play
Swift Eenrgy Announces Four Recent Exploratory Successes
Swift Energy Announces New Field Discovery in Trinity County, Texas

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters