Swift Energy to draw on credit facility for purchase of South Texas properties

By Sara Rosenberg

New York, Aug. 28 - Swift Energy Co. plans to use borrowings under its credit facility to fund the $47 million acquisition of oil and natural gas interests in Dimmit County, Texas, from Crimson Energy Partners LP, according to a news release.

The acquisition is expected to close within 30 days, with an effective date of May 1.

Swift Energy is a Houston-based developer, explorer, acquirer and operator of oil and gas properties.

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