Swift sizes up Shasta, South Texas potential

Swift Energy Co., Houston, said its late 2008 Shasta prospect discovery in southeast Louisiana could hold 30-50 bcfe recoverable.

By OGJ editors
HOUSTON, Feb. 19 -- Swift Energy Co., Houston, said its late 2008 Shasta prospect discovery in southeast Louisiana could hold 30-50 bcfe recoverable.

In South Texas, the company also drilled and run a nine-stage frac at its first Cretaceous Olmos horizontal well in AWP field and judged that the 45,000 acres it holds may be prospective in the Cretaceous Eagle Ford formation.

The Bracken 33H well at AWP went to 14,322 ft measured depth including a 3,530-ft lateral in Olmos and peaked at the rate of 10.4 MMcfed with 2,725 psi on a 36/64-in. choke. Expected to recover 3-5 bcf in a southern extension area of the field, it is on sales at a sustained 6.3 MMcfd with 1,880 psi on a 32/64-in. choke.

Swift Energy said it expects to be able to reduce the well's $9 million drilling and completion cost to $7 million on future wells.

The company said it released the rigs it was operating in the fourth quarter of 2008 and isn't running any at present due to low commodity prices and the severe financial downturn.

The company plans to drill one vertical Eagle Ford well and three more Olmos horizontal wells in 2009.

The Shasta well, State Lease 18669-1, went to a total depth of 18,855 ft MD and cut 30 ft MD of pay in two zones. It flowed at the rate of 11 MMcfd of gas and 739 b/d of oil at 11,279 psi on a 14/64-in. choke.

Shasta is to go on production by mid-2009 after construction of an 8-mile pipeline to facilities on the west side of Lake Washington field.

More sustained tests are needed to verify performance, said Swift Energy, operator with 50% working interest. Shasta lies between the company's Lake Washington and Bay de Chene fields.

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