Condensed Consolidating Financial Information

3 Months Ended

Mar. 31, 2016

Guarantees [Abstract]

Condensed Consolidating Financial Information

(10)           Condensed Consolidating Financial Information

Swift Energy Company (the parent) is the issuer and Swift Energy Operating, LLC (a wholly owned indirect subsidiary of Swift Energy Company) is the sole guarantor of our senior notes due 2017, 2020 and 2022. Swift Energy Company does not have any independent assets or operations. The guarantees on our senior notes due 2017, 2020 and 2022 are full and unconditional. All subsidiaries of Swift Energy Company, other than Swift Energy Operating, LLC, are immaterial.

The Chapter 11 bankruptcy proceedings, as discussed in Note 1A of the consolidated financial statements, include all of our domestic subsidiaries but do not include our international subsidiaries, which are 100% owned by our domestic subsidiary Swift Energy International, Inc. These international subsidiaries primarily consist of our New Zealand subsidiaries, which liquidated their assets in 2007 and 2008. These subsidiaries have had no activity since 2008, except for the recognition of gains in 2011 upon the settlement of legal claims related to the 2007 and 2008 divestitures, and have no debt obligations. We do not have any material intercompany balances between our entities in bankruptcy proceedings and our entities not in bankruptcy proceedings. Intercompany balances for our entities in bankruptcy proceedings, which have been eliminated within our consolidated balance sheets, include payables due from Swift Energy Operating, LLC to Swift Energy Company (the parent) in the amount of $416.4 million and to Swift Energy International, Inc. in the amount of $85.4 million, and receivables due to Swift Energy Operating, LLC from Swift Energy Alaska, Inc. in the amount of approximately $6.1 million and from Swift Energy Exploration Services, Inc. in the amount of $0.1 million.