Old Dogs, Old Tricks, New Sucesses

Old Dogs, Old Tricks, New SuccessesThe Successful Redevelopment of Lake Washington Field, Louisiana
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This talk will be presented March 31, 2004 at the HGS/HAPL Joint Luncheon.
 
Abstract:
 
Swift Energy Company acquired the Lake Washington Field in March 2001.   Lake Washington Field is located in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Plaquemines Parish, Louisiana, about 60 miles due south of New Orleans.  Swift Energy''s team of geoscientists working on exploration and further development of Lake Washington Field have employed only tried and true subsurface geological methods to increase production from nearly 700 BOEPD at the time of acquisition to more than 11,000 BOEPD at year-end 2003.Located along the Louisiana coast, Lake Washington Field was originally discovered in the 1930s, and is located around a shallow piercement salt feature. Since inception, the field has produced approximately 350 MMBOE. Swift Energy operates approximately 15,500 gross acres (12,900 net acres) in the field. Since acquisition, Swift’s geoscientists have employed old fashioned geological methods of multiple level subsurface maps at close intervals, combined with numerous correlation sections, fault plane maps, and net sand maps which have enabled the Company to book reserves at a much faster pace than originally anticipated. Although several older generation 2-D seismic lines have been acquired in the field, they proved to be of little use to defining the close-in type prospects that have been exploited.  Swift has drilled a total of 90 wells since the acquisition, and 71 wells have been completed.  This is a success rate of almost 79%!  The wells drilled since 2001 have encountered 58 different pay zones with current completions targeting 25 different sands. The average net pay per completion has been approximately 138 feet. 
 
Speaker Biography:
 
William C. "Bill" Moody, Jr. is currently Manager of Exploration and Development for Swift Energy Company which is headquartered in Houston, Texas. 
Bill began his career with Texaco, Inc. in 1973. He also worked at Florida Gas Exploration Company, Eason Oil Company, and as a consultant. Bill joined Swift in 2001. He was instrumental in bringing the Lake Washington Field to Swift as an acquisition candidate. Bill has spent most of his career exploring in South Louisiana and the Texas Gulf Coast. He has conducted numerous field studies on salt domes located in Texas and Louisiana.
Bill earned a B. S. degree from the University of South Alabama, and a M. S. degree from the University of Wisconsin. He is a member of the Houston Geological Society, AAPG (Certified Petroleum Geologist), Alabama Geological Society, Lafayette Geological Society, New Orleans Geological Society and  the Petroleum Landman''s Association of New Orleans.