Sept 19 Oil and natural gas producer Swift
Energy Co lowered its full-year production forecast due
to expected delays at its South Louisiana oil fields that were
hit by Hurricane Isaac last month.
Swift Energy now expects full-year production to be lower by
225,000 barrels of oil equivalent (boe) compared with its
previous forecast. It had forecast 12.0 to 12.6 million boe
(mmboe) of production for 2012.
It said third-quarter production will be hit by about
175,000 boe. The company had forecast production between 3.0 and
3.2 mmboe for the third quarter.
About 25 to 35 percent of production at its Lake Washington
oil field in Plaquemines Parish, the hardest hit parish of New
Orleans, has been brought back online, the company said.
Repairs at the Lake Washington field are expected to be
complete within seven to ten days and production there should be
restored to pre-storm levels soon after, the company said.
Shares of the company were down 4 percent at $21.92 on
Wednesday afternoon on the New York Stock Exchange.