Swift Energy Company is engaged in developing, exploring, acquiring, and operating oil and natural gas properties, with a focus on oil and natural gas reserves onshore and in the inland waters of Louisiana and Texas. As of December 31, 2007, the Company had estimated proved reserves from its domestic continuing operations of 133.8 million barrels of oil equivalent (MMBoe). Its total estimated proved reserves, both domestically and in New Zealand, were 150.1 MMBoe. Swift Energy Company?s total proved reserves during 2007, were comprised of approximately 43% crude oil, 44% natural gas, and 13% natural gas liquid (NGLs), and 45% of its total proved reserves were proved developed. Its proved reserves are concentrated with 59% of the total in Louisiana, 29% in Texas, 1% in other states, and 11% in New Zealand. In October 2007, Swift Energy Company completed the acquisition of property interests from Escondido Resources, LP, a privately held company.
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