Swift emerges from bankruptcy, sells assets

Swift Energy Co. has completed financial restructuring and emerged from voluntary bankruptcy after completing the sale of 75% of its interests in South Bearhead Creek and Burr Ferry oil fields in central Louisiana (OGJ Online, Jan. 4, 2016).

The buyer of the Louisiana interests is Texegy LLC, formed in 2014 to acquire, operate, and develop producing, conventional oil and gas properties in Texas and Louisiana.

Swift’s core assets are in the Eagle Ford shale play of Texas.

Swift and Texegy will form a joint venture, SV Energy Co. LLC, an affiliate of Texegy, to operate the Louisiana properties covered by the transaction.

Swift also closed a new $320-million senior secured credit facility.

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


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...