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Condensed Consolidating Financial Information (Tables)
12 Months Ended
Dec. 31, 2011
Condensed Consolidating Financial Information [Abstract]  
Condensed Consolidating Balance Sheets
                                         
     December 31, 2011  
(in thousands)   Swift Energy Co.
(Parent and
Issuer)
    Swift Energy
Operating, LLC
(Guarantor)
    Other
Subsidiaries
    Eliminations     Swift Energy Co.
Consolidated
 

ASSETS

                                       

Current assets

  $ —       $ 328,130     $ 21     $ —       $ 328,151  

Property and equipment

    —         1,867,766       —         —         1,867,766  

Investment in subsidiaries (equity method)

    996,509       —         911,061       (1,907,570     —    

Other assets

    —         16,552       85,429       (85,429     16,552  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

  $ 996,509     $ 2,212,448     $ 996,511     ($ 1,992,999   $ 2,212,469  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

                                       

Current liabilities

  $ —       $ 211,792     $ 2     $ —       $ 211,794  

Long-term liabilities

    —         1,089,595       —         (85,429     1,004,166  

Stockholders’ equity

    996,509       911,061       996,509       (1,907,570     996,509  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total liabilities and stockholders’ equity

  $ 996,509     $ 2,212,448     $ 996,511     ($ 1,992,999   $ 2,212,469  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
                                         
     December 31, 2010  
(in thousands)   Swift Energy Co.
(Parent and
Issuer)
    Swift Energy
Operating, LLC
(Guarantor)
    Other
Subsidiaries
    Eliminations     Swift Energy Co.
Consolidated
 

ASSETS

                                       

Current assets

  $ —       $ 158,335     $ 23     $ —       $ 158,358  

Property and equipment

    —         1,572,845       —         —         1,572,845  

Investment in subsidiaries (equity method)

    880,017       —         808,780       (1,688,797     —    

Other assets

    —         12,713       81,221       (81,221     12,713  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total assets

  $ 880,017     $ 1,743,893     $ 890,024     ($ 1,770,018   $ 1,743,916  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

                                       

Current liabilities

  $ —       $ 146,728     $ 10,007     $ —       $ 156,735  

Long-term liabilities

    —         788,385       —         (81,221     707,164  

Stockholders’ equity

    880,017       808,780       880,017       (1,688,797     880,017  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total liabilities and stockholders’ equity

  $ 880,017     $ 1,743,893     $ 890,024     ($ 1,770,018   $ 1,743,916  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Condensed Consolidating Statements of Operations
                                         
     Year Ended December 31, 2011  
(in thousands)   Swift Energy Co.
(Parent and
Issuer)
    Swift Energy
Operating, LLC
(Guarantor)
    Other
Subsidiaries
    Eliminations     Swift Energy Co.
Consolidated
 

Revenues

  $ —       $ 599,131     $ —       $ —       $ 599,131  

Expenses

    —         464,027       —         —         464,027  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before the following:

    —         135,104       —         —         135,104  

Equity in net earnings of subsidiaries

    98,821       —         84,610       (183,431     —    
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income from continuing operations, before income taxes

    98,821       135,104       84,610       (183,431     135,104  

Income tax provision

    —         50,494       —         —         50,494  
           

Income from continuing operations

    98,821       84,610       84,610       (183,431     84,610  

Income from discontinued operations, net of taxes

    —         —         14,211       —         14,211  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Income

    98,821       84,610       98,821     ($ 183,431   $ 98,821  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

                                         
    Year Ended December 31, 2010  
(in thousands)   Swift Energy Co.
(Parent and
Issuer)
    Swift Energy
Operating, LLC
(Guarantor)
    Other
Subsidiaries
    Eliminations     Swift Energy Co.
Consolidated
 

Revenues

  $ —       $ 438,429     $ —       $ —       $ 438,429  

Expenses

    —         364,121       —         —         364,121  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before the following:

    —         74,308       —         —         74,308  

Equity in net earnings of subsidiaries

    46,294       —         46,475       (92,769     —    
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income from continuing operations, before income taxes

    46,294       74,308       46,475       (92,769     74,308  

Income tax provision

    —         27,833       —         —         27,833  
           

Income from continuing operations

    46,294       46,475       46,475       (92,769     46,475  

Loss from discontinued operations, net of taxes

    —         —         (181     —         (181
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net Income

    46,294       46,475       46,294     ($ 92,769   $ 46,294  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
                                         
     Year Ended December 31, 2009  
(in thousands)   Swift Energy Co.
(Parent and
Issuer)
    Swift Energy
Operating, LLC
(Guarantor)
    Other
Subsidiaries
    Eliminations     Swift Energy Co.
Consolidated
 

Revenues

  $ —       $ 370,445     $ —       $ —       $ 370,445  

Expenses

    —         435,062       —         —         435,062  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loss before the following:

    —         (64,617     —         —         (64,617

Equity in net earnings of subsidiaries

    (39,330     —         (39,076     78,406       —    
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Loss from continuing operations, before income taxes

    (39,330     (64,617     (39,076     78,406       (64,617

Income tax benefit

    —         (25,541     —         —         (25,541
           

Loss from continuing operations

    (39,330     (39,076     (39,076     78,406       (39,076

Loss from discontinued operations, net of taxes

    —         —         (254     —         (254
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net loss

  ($ 39,330   ($ 39,076   ($ 39,330   $ 78,406     ($ 39,330
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Condensed Consolidating Statements of Cash Flow
                                         
     Year Ended December 31, 2011  
(in thousands)   Swift Energy Co.
(Parent and
Issuer)
    Swift Energy
Operating, LLC
(Guarantor)
    Other
Subsidiaries
    Eliminations     Swift Energy Co.
Consolidated
 

Cash flow from operations

  $ —       $ 373,058     $ 2     ($ 4   $ 373,056  

Cash flow from investing activities

    —         (450,048     5,000       (5,000     (450,048

Cash flow from financing activities

    —         242,321       (5,000     5,000       242,321  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net increase in cash

    —         165,331       2       (4     165,329  

Cash, beginning of period

    —         86,346       21       —         86,367  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash, end of period

  $ —       $ 251,677     $ 23     ($ 4   $ 251,696  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

                                         
     Year Ended December 31, 2010  
(in thousands)   Swift Energy Co.
(Parent and
Issuer)
    Swift Energy
Operating, LLC
(Guarantor)
    Other
Subsidiaries
    Eliminations     Swift Energy Co.
Consolidated
 

Cash flow from operations

  $ —       $ 258,996     ($ 41   $ —       $ 258,955  

Cash flow from investing activities

    —         (348,515     5,000       (5,000     (348,515

Cash flow from financing activities

    —         137,458       (5,000     5,000       137,458  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net increase in cash

    —         47,939       (41     —         47,898  

Cash, beginning of period

    —         38,407       62       —         38,469  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash, end of period

  $ —       $ 86,346     $ 21     $ —       $ 86,367  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

                                         
     Year Ended December 31, 2009  
(in thousands)   Swift Energy Co.
(Parent and
Issuer)
    Swift Energy
Operating, LLC
(Guarantor)
    Other
Subsidiaries
    Eliminations     Swift Energy Co.
Consolidated
 

Cash flow from operations

  $ —       $ 226,176     ($ 396   $ —       $ 225,780  

Cash flow from investing activities

    —         (184,549     5,000       262       (179,287

Cash flow from financing activities

    —         (8,307     262       (262     (8,307
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net increase in cash

    —         33,320       4,866       —         38,186  

Cash, beginning of period

    —         86       197       —         283  
   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash, end of period

  $ —       $ 33,406     $ 5,063     $ —       $ 38,469