Swift to acquire stake in Alaskan acreage

Swift Energy Co. has entered into an agreement with Aurora Gas LLC to acquire a 37.5% working interest in onshore acreage in the Cook Inlet basin of Alaska (OGJ, Dec. 9, 2002, p. 18).

March 31, 2006

By OGJ editors
HOUSTON, Mar. 31 -- Swift Energy Co. has entered into an agreement with Aurora Gas LLC to acquire a 37.5% working interest in onshore acreage in the Cook Inlet basin of Alaska (OGJ, Dec. 9, 2002, p. 18).

Swift will acquire half of Aurora's working interest in seven areas covering 54,500 acres.

The companies soon will spud the Endeavour 1 exploratory commitment well, in which Swift has a 50% working interest, with Aurora as operator.

At least six other prospects have been targeted on the acreage in two main plays: the Hemlock-Tyonek oil play and the Beluga-Sterling gas play.