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Swift Energy, PT Saka Energi Indonesia Close Eagle Ford JV

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July 16, 2014

Swift Energy Co. (NYSE: SFY) and PT Saka Energi Indonesia closed a joint venture to develop Swift’s Eagle Ford acreage in Webb County, Texas, Swift said July 15.

PT Saka Energi Indonesia is a subsidiary of PT Perusahaan Gas Negara (Persero) Tbk, Indonesia’s largest gas transportation and distribution company, Swift noted.

Under the deal, 8,300 acres in the Eagle Ford’s Fasken area will be developed, and Swift sold a 36%, full participation interest to Saka for $175 million in cash. At closing, $125 million was paid, and Saka will pay ...

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