Swift Energy completed its financial restructuring and emerged from Chapter 11. The company officially concluded its reorganization after completing all required actions and satisfying the remaining conditions of reorganization plan, which was confirmed by the U.S. Bankruptcy Court for the District of Delaware by order dated March 31, 2016.

In conjunction with its emergence from Chapter 11, the company closed on its new $320 million senior secured credit facility and its sale of certain assets in Central Louisiana to TEXEGY.

According to a related 8-K filing, JPMorgan Chase served as administrative agent for the lender group under the reserved-based first lien revolving credit facility.

CEO Terry Swift stated, “We are pleased to announce the successful completion of our financial restructuring in a relatively prompt timeframe. Through this restructuring, we have developed a more disciplined, efficient organization and greatly improved our balance sheet.

“Our noteholders’ continued support and willingness to invest in our company were critical to our emergence as was the agreement by our reserve-based lenders to provide the financing we needed to exit Chapter 11 and operate our business into the future.”