Swift Energy retains Lazard to advise on strategic alternatives

Swift Energy Co. (NYSE: SFY) has retained Lazard Frères & Co. LLC to advise the company’s management and board of directors with respect to capital structure, financing alternatives, and related strategic opportunities.

Terry Swift, CEO and chairman of the board, said, “We believe the underlying assets that Swift Energy has developed have meaningful value, much of which can be realized even in today’s challenging environment. Consequently, we have retained Lazard to explore alternatives with respect to realigning our balance sheet, including our senior notes which trade at levels significantly below face value, addressing certain maturities, and enhancing our liquidity profile. We believe this will better position the company to execute our forward drilling program which will benefit all constituencies.”

Swift Energy engages in developing, exploring, acquiring, and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...