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Swift buying BP natural gas fields in La.

Aug. 28, 2006 at 2:54 PM

HOUSTON, Aug. 28 (UPI) -- Swift Energy Co. is paying $175 million to BP America Production Co. for a set of natural gas properties in southern Louisiana.

The assets, in Bayou Sale, Horseshoe Bayou and Jeanerette Fields all located in St. Mary Parish, High Island field in Cameron Parish and Bayou Penchant field in Terrebonne Parish, will add 58.2 billion cubic feet of proved reserves to Swift's holdings, the company said Monday.

Swift expects to invest as much as $25 million on the five fields next year to enhance production.

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