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UPDATE 1-Swift Energy says production not hurt from oil spill
May 27, 2010 / 7:43 PM / 7 years ago

UPDATE 1-Swift Energy says production not hurt from oil spill

* Says not seen impact on production in Lake Washington

* Shares up 5 pct

May 27 (Reuters) - Oil and natural gas explorer Swift Energy Co SFY.N said it has not seen any impact in its Lake Washington field production activity due to the oil spill in the Gulf of Mexico.

Swift Energy said it was monitoring events in conjunction with local, state and federal authorities after reports of oil sheens along the Louisiana coast, in close proximity to the company’s Lake Washington operations.

The company said it was yet to observe any impact from the oil spill that would require cessation of any drilling, completion or production activity in its Lake Washington field.

Swift Energy currently has one drilling rig and one completion rig operating in Lake Washington and maintains an inventory of projects to continue its 2010 operational plan.

Earlier this month, Swift Energy had said it plans to change its production mix to drill for more oil, especially in the liquids-rich Eagle Ford shale. [ID:nSGE6450J0]

Shares of the company were trading up 5 percent at $28.07 Thursday afternoon on the New York Stock Exchange.

For latest news on the spill, double click [ID:nSPILL] (Reporting by Vinay Sarawagi in Bangalore; Editing by Maju Samuel)

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