Swift Energy sells shares of company’s holdings in South Bearhead Creek Field and Burr Ferry Field areas to Texegy LLC
Clients Swift Energy Company
Jones Day represented Swift Energy Company in the sale of a 75 percent share of the company’s holdings in the South Bearhead Creek Field and Burr Ferry Field areas, located in Central Louisiana, to Texegy LLC. Upon closing, Swift Energy and Texegy entered a joint development agreement to continue operation and development of the properties after closing. Pursuant to this agreement, SV Energy Company, LLC, an affiliate of Texegy, now conducts all drilling, completion, and production operations. The sale was critical to Swift Energy's emergence from bankruptcy and was approved by the bankruptcy court.