Swift Energy Company announced that it has entered into a long term agreement for natural gas gathering and processing services for its LaSalle County, TX natural gas production with Eagle Ford Gathering LLC, a 50/50 joint venture between Kinder Morgan Energy Partners, L.P. and Copano Energy, L.L.C. This agreement is effective as of June 1, 2012. Swift Energy will have up to 40 million cubic feet of gas per day of firm capacity available on this system by the fourth quarter of 2012.
In the South Burr Ferry field in Vernon Parish, LA, the Company’s partner recently completed and tested the GASRS 23-1, which targeted the Austin Chalk. Initial production test rates of this well were 744 barrels of oil per day and 7.2 million cubic feet of gas per day with flowing tubing pressure of 4,100 psi on a 34/64’ choke. This is the first of four to six wells in this area that are planned to be drilled this year.