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February 21, 2013
06:03 EDTSFYSwift Energy sees FY13 CapEx $440M-$80M
For 2013, Swift Energy is targeting production up to 3% over 2012 levels and proved reserves to increase 7% to 12%, over year-end 2012 quantities with a focus on oil and liquid rich opportunities.
News For SFY From The Last 14 Days
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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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