OGJ Top 10 Independents-No. 5: Swift Energy adjusts quickly to market conditions, price environment

In response to industry conditions, Swift Energy Co., Houston, alternates between acquiring reserves and finding reserves through drilling as it strives to enhance the volume and value of its proved reserves at the lowest possible cost."We believe that the external environment can often have a bearing on how best to find the lowest-cost barrel," said Terry E. Swift, president and CEO. Generally, the company drills during times of high commodity prices and acquires reserves during periods of low prices.This strategy has worked since Swift Energy was founded in 1979, he said, adding, "We've demonstrated our ability to move quickly back and forth."Swift Energy concentrated on drilling i...

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