Houston's Swift Energy Company (NYSE:SFY) recently provided updates on the status of its analyses of its Lake Washington Field in Plaquemines Parish and Bay de Chene Field in Jefferson and Lafourche Parishes, which were hit by Hurricane Isaac. The positive news sent the company's small cap stock up slightly.
As was planned, once all of the company's employees and affiliated workers were determined to be safe, crews were dispatched to the potentially affected areas as soon as the National Hurricane Center determined it was safe to do so. These crews performed early assessments of the facilities and assets found in the fields.
The assessments showed minimal damage was incurred during the storm, and upon further analysis, engineering teams determined electrical systems, instrumentation, flow lines, substructure of platforms and navigation hazards also received minimal damage.
Swift said it expects the repairs to take about one week, and once production is restored, the company will assess how the storm will impact third-quarter operations.
As of 3:46 p.m. on September 13, Swift shares were up 6.1 percent to $22.40.