The company told analysts and investors in Houston today that it planneds to spend US$200-220 million in total capital expenditure for the year, about 80% for domestic activities in Texas and Louisiana, and about 20% in New Zealand.

Swift’s New Zealand efforts will focus on further delineation and development of the Kauri and Manutahi Sands in onshore southern Taranaki. It expects to drill three to four wells targeting the intermediate depth Kauri Sand and four to six wells in the shallow Manutahi Sand.

As well, the Rimu production station was being reviewed for further expansion, by up to 50%, by early 2006. When opened nearly three years ago the facility had capacity of 3500 bopd and 10 mmscf/d of gas.

Swift Energy also said it anticipated beginning its Tarata thrust exploration activity and expected to drill between three and five exploration wells in Taranaki during 2005.