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Swift Energy budget to decrease spending by 70% from 2014


Published Jan 14, 2015
Swift Energy

Swift Energy Company announced a revised 2015 capital budget range of $100 - $125 million in response to recent hydrocarbon price declines. This revised level of activity is projected to yield between 11.2 and 11.4 million barrels of oil equivalent ('MMBoe') of production.

Terry Swift, CEO of Swift Energy, commented, 'Our revised budget, representing a 70-75% decrease in spending from 2014, reflects the lower commodity price environment we face in 2015 and demonstrates our response during this down cycle. We continue to work with our vendors and suppliers to reduce service costs and are taking steps to materially reduce field level operating and corporate overhead expenses.'

Tags: Swift Energy




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