Swift Energy’s Eagle Ford Well Costs Are Down & IP Rates Are Up

Drilling Costs Are Down More Than $1 Million Per Well Over the Past Year
Swift Energy Eagle Ford Drilling Savings

Swift Energy Eagle Ford Drilling Savings | Click to Enlarge

Swift Energy has seen its well costs fall and its initial production (IP) rates rise in 2013. Across two areas in South Texas, the company’s IP rates are up 15% or more and drilling and completion costs are down 13% or more.

That’s exactly what operators want to see and its why several companies are selling assets to fund accelerated development programs in the Eagle Ford.

Swift is selling assets in Louisiana and just last week Forest Oil sold assets in the Panhandle to fund its Eagle Ford operations. [Read more…]