From Swift's Investor/Analyst Day transcript:
"We expanded our Austin Chalk position, our original AMI with our joint venture partner, has been extended to 79,000 acres. We entered into a second AMI that covers almost 96,000 acres. We have a very active leasing program in this Chalk trend. We put together 105,000 acres so far. Yeah, I am going to take you through our Central Louisiana/East Texas area. Okay, the, what we call, CLAETX is comprised of four fields, Brookeland, Burr Ferry, and Masters Creek, which are Austin Chalk fields. So in this year, we have two rigs coming, they are going to come towards the end of this month. And the first rig is going to drill two wells and the second rig is going to drill four wells for total of six wells in Burr Ferry. So that’s going to start off pretty quick now. You could also see the similar to what Steve was showing before what these wells look like, they are going to cost little under a $11 million and here is the EUR 403, the NGL’s 447,000 barrels in the gas 2.5 Bcf. So fantastic return on these wells, so we are – that’s why we were focusing here with hard priced oil. And now I want to move from Burr Ferry, which we just spoke off to Masters Creek, and we’ve drilled the well, entitled the Exxon Corp. 10-1 this location. We are pretty excited about this well. This is end so well it’s proposed down foot lateral, 6000 foot offset. When we drilled we encountered 24 excellent shows. We only drilled 2,500 feet in the lateral, because we had some steering problems and we decided rather than have a mechanical problem, we wanted to go ahead and complete the well and we did so. We did some testing. The IP for this well is 836 barrels oil per day and 5.4 million cubic feet of gas per day, and this well we are preparing to turn on in about 10 days or five days, excuse me. So, here’s a look and you can see the fracture density in this well, this is fantastic. So, in a short lateral, we had over 20 fractures that we encountered. So, this is a very exciting for this input program, I will remind you that these wells have been drilled on 2,000 acre units and we are infilling. Here is a significance for this, here is the Exxon Corp 10-1, the black lines here are wells that have been drilled in the field, the orange circles with the lines are the infill locations we can go ahead and exploit this. So, this is a relatively low risk opportunity, and we have a lot of infill and so you can see the acreage and the recovery per well, and their potential. And here is the type well for Masters Creek and 863,000 barrels of oil, 372,000 barrels of natural gas liquid and 3 Bcf gas payout in 7.4 months, $11.5 million, and you can see the returns, the rate of return, return on investment. As John showed you in Central Louisiana East Texas, we’re going to focus a fair bit this year on the Austin Chalk drilling program. Masters Creek, we have about 38,000 net acres. We see the potential for a very good infill program about 14 million to 21 million barrels of oil equivalent resource potential net for Swift, and over in Burr Ferry, we have about 74,000 net acres in a drilling window about 30 million to 40 million barrels of resource potential net to Swift."