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News Breaks
February 21, 2013
06:03 EDTSFYSwift Energy to "meaningfully increase" drilling in LaSalle, McMullen counties
The company also expects to test the Niobrara formation in southwestern Colorado before the end of 2013, and it is preparing to drill a sub-salt well in our Lake Washington field within twenty-four months.
News For SFY From The Last 14 Days
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December 1, 2015
16:35 EDTSFYSwift Energy elects not to make senior notes interest payment
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November 20, 2015
06:01 EDTSFYSwift Energy adopts right plan to protect net operating loss carryforwards
Swift Energy announced that its board has adopted a net operating loss rights plan in an effort to prevent the imposition of significant limitations under Section 382 of the Internal Revenue Code on its ability to utilize its current NOLs to reduce its future tax liabilities. Swift Energy estimates that its NOLs for federal tax purposes totals approximately $718M as of September 30, 2015, which can be used in certain circumstances to offset future taxable income and reduce federal income taxes. Swift Energy's ability to use these tax assets could be substantially limited if the Company experiences an "ownership change". In general, an ownership change occurs if there is a cumulative change in a company's ownership by "5% percent shareholders" that increases by more than 50 percentage points over the lowest percentage owned by such shareholders at any time during the prior three years on a rolling basis.

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