Swift Energy is a significant player in the Eagle Ford with 79,000 net acres all across Hawkville Field. Most is operated, but a sizeable chunk is in the form of a non-op JV with Petrohawk.
This slide shows $6.5-$7.5 MM well costs, however in their latest conference call Swift stated their extended laterals will costs closer to $9MM in today’s pricing environment. Note also the 80 acre spacing.
Swift Energy has encountered good quality oil in their northern McMullen acreage. According to Drillinginfo data, the SMR 1H produces 47 degree oil. As you traverse south on their acreage the oil gravity increases indicating condensate and volatile oil. See the map below.
The Swift McMullen acreage produces oil wells, and dry gas.
The data below shows the Swift switch towards longer laterals.
As more data comes in, we will be able to see the results of the Petrohawk operated HiWAY frac wells that Swift mentioned in their 1Q2011 Earnings Call. These were completed with 16-19 stages and maintained about 6000 psi on chokes ranging from 16/64″ to 20/64″.
Swift has added a fourth rig. The company has a dedicated frac fleet that operated ahead of their rigs. In other words, they can’t drill enough wells to keep the frac fleet working. This was the case as of 1Q earnings and may have changed. Their 2Q2011 earnings call is August 4th. We will tune in and blog about it, as well as the other main Eagle Ford players so check back early and often.
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