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.

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