HOUSTON -- Swift Energy Co. and PT Saka Energi Indonesia have agreed to develop about 8,300 acres of Fasken field Eagle Ford shale properties in South Texas.
The companies on Tuesday announced the $175 million deal, expected to close in late June, involving their subsidiaries and Swift Energy properties in Webb County.
Saka will have a 36 percent interest in Swift Energy's Fasken properties. Houston-based Swift Energy will continue to serve as the site operator.
Swift Energy also announced an expanded agreement for natural gas gathering services in Webb County with Howard Energy Partners and its affiliates. Swift Energy expects to have up to 160 million cubic feet of gas per day of firm capacity for its Fasken area natural gas production.
The updated capacity should be available early next year.
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