The winter rally in natural gas prices is creating cautious optimism among companies like Matador Resources Co and Swift Energy Co, smaller energy producers that see opportunity and future deals in a once-moribund market. Consumers pulled a record amount of gas from storage this freezing winter, leaving stockpiles at the lowest level since 2003. This has spurred expectations for higher prices."Gas isn't a bad word today," Bruce Vincent, president of Swift Energy Co told the OGIS conference of energy investors and companies in New York earlier this week. He added that returns for Swift's Eagle Ford gas have improved but more pipeline is needed to carry the gas to Gulf Coast markets.Swift is also seeking a strategic partner for its Fasken Field gas project near the Rio Grande River in far south Texas, with an announcement on the deal expected midyear, Vincent said.Houston-based Swift is eyeing the Mexican export market for its south Texas gas as that country finalizes its energy reforms, said Vincent.
Swift Energy Company is engaged in developing, exploring, acquiring, and operating oil and natural gas properties, with a focus on oil and natural gas reserves in Texas as well as onshore and in the inland waters of Louisiana. Shares of SFY fell by 2.82% or $-0.3/share to $10.34. In the past year, the shares have traded as low as $8.80 and as high as $15.75. On average, 1591710 shares of SFY exchange hands on a given day and today's volume is recorded at 937380.
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