After emerging from bankruptcy four months ago, Swift Energy Company’s CFO and CEO have announced plans to retire.
Alton D. Heckaman, Jr., Swift’s executive vice president and CFO, and Terry Earl Swift, the company’s CEO, have both agreed to assist the company transition duties before officially retiring in the coming months. Swift has started the search for both positions.
Heckaman commented, “It has been a privilege to be a part of one of the leading teams in the oil and gas industry. I will miss my Swift Energy family after I retire; however, I will remain a loyal shareholder of the company, which I know will have a very bright future.”
Alton Heckaman has been in various finance and accounting leadership roles at Swift Energy since 1982, when he started his career as a manager of accounting.
For Terry Swift, retirement marks the end of a 37-year career. Terry Swift joined Swift Energy in 1981 as manager of engineering, serving in a variety of roles on his way to being named CEO in 2001. He served as Chairman of the Board from June 2006 to April 2016. He will remain a member of the Board of Directors until he exits the CEO role.
“After over 35 years with Swift Energy, 15 as CEO, I believe now is the right time for a transfer in leadership,” he said. “We have built an incredibly strong team at Swift Energy and I believe the company is better positioned today to drive long-term value than ever before.”
Terry served as only the second CEO in the 36-year history of the company. The first being his father and founder of Swift Energy, the late A. Earl Swift. OGFJ spoke with Terry Swift and then-president Bruce Vincent in 2009 as the company celebrated its 30th anniversary.
The company completed a financial restructuring and emerged from Chapter 11 bankruptcy in late April 2016. In conjunction with its emergence from Chapter 11, the company closed on a new $320 million senior secured credit facility and on its sale of certain assets in Central Louisiana to TEXEGY LLC.