Swift Energy tested three Eagle Ford wells in the Fasken area of Webb County, with average initial production (IP) rates of 22.1 mmcf/d. The Company has identified an additional 50-60 undeveloped lower Eagle Ford locations in the Fasken area and expects future well costs to be approximately $7.5 million. The company is currently in the negotiations process for a joint venture in this area to accelerate development.
Read more: Swift Energy is Pumping More Fluid and Proppant in Eagle Ford Well Completions
Swift Energy also tested three wells in McMullen County, with average IP rates of 1,212 boe/d. In the fourth-quarter of 2013, Swift tightened frac stage intervals and used higher volumes of fluid and proppant in Eagle Ford well completions. The IP rate for a McMullen County well completed using this technique in the fourth-quarter of 2013 was 1,608 boe/d. Similar IP rates from the most recent test wells indicate the company is continuing to utilize this strategy as it refines its process for well completions.
“We are very pleased with our continuing operational improvements in these two key areas of our Eagle Ford acreage. The repeatable results in these areas provide a more predictable production growth profile, which is essential to our near term objectives of reducing financial leverage and increasing our liquidity profile.”
Swift Energy Eagle Ford IP Rates Per Well in Webb County
- Fasken BD 14H - 20.6 mmcf/d
- Fasken BCD 10H - 22.5 mmcf/d
- Fasken AB 9H - 23.3 mmcf/d
Swift Energy Eagle Ford IP Rates Per Well in McMullen County
- PCQ EF 14H - 1,302 boe/d
- PCQ EF 15H - 1,292 boe/d
- PCQ EF 16H - 1,042 boe/d