Production attributable to the assets sold averaged about 10.6 million cubic feet of gas equivalent per day during the first quarter of this year, with total proved reserves of 92.2 billion cubic feet equivalent at year-end 2010.
The net cash proceeds of about $48.8m from this transaction will be used by the company to fund a portion of its 2011 capital expenditures.
Swift Energy is engaged in developing, exploring, acquiring and operating oil and natural gas assets.
