Swift Energy said service from a third-party natural gas sales pipeline downstream of its Lake Washington Field has been restored, and the company’s crude oil and natural gas production from Lake Washington is returning to the levels of daily production prior to the pipeline shutdown, which was reported March 18. As a result of the reduced production levels due to the damaged pipeline, earlier this month Swift lowered its guidance for domestic production in the first quarter of 2005 to 10.8-11.0 Bcfe from 11-11.5 Bcfe. Net production from Lake Washington for the fourth quarter of 2004 almost doubled compared to the same period in 2003, averaging 12,900 net boe/d compared to 6,900 net boe/d for the same period in 2003. The field produced about 23.2 Bcfe last year, more than double the 2003 volumes. It is Swift’s largest field. Swift’s total domestic production for 2004 increased to 42.1 Bcfe or by 25% compared to 2003.

©Copyright 2005Intelligence Press Inc. All rights reserved. The preceding news reportmay not be republished or redistributed, in whole or in part, in anyform, without prior written consent of Intelligence Press, Inc.