EIA STEO, page-3

swift energy which operates in the EFS next door to SEA acreages announced their cutbacks overnight

cutbacks are  70 - 75%

Eagle Ford Shale operator Swift Energy Co. will cut its planned 2015 spending by 70 to 75 percent.
The Houston-based firm now expects it will spend $100 million to $125 million this year.
“Our revised budget, representing a 70 to 75 percent decrease in spending from 2014, reflects the lower commodity price environment we face in 2015 and demonstrates our response during this down cycle,” said Terry Swift, CEO of Swift Energy, in a news release. “We continue to work with our vendors and suppliers to reduce service costs and are taking steps to materially reduce field level operating and corporate overhead expenses.”
Swift operates in Webb, McMullen and La Salle counties in the Eagle Ford region. It has been working in South Texas since 1989, when it bought a majority interest in some Olmos Sandstone production.
At the end of 2013, the company reported having around 35,000 net developed acres and 10,300 net undeveloped acres in the Eagle Ford.
Swift is the latest Eagle Ford operator to announce a pullback in spending due to plunging oil prices. Oil was trading above $100 in June but is below $46 today.
Sanchez Energy is cutting its drilling rigs in the Eagle Ford from eight to four. Matador Resources is pulling its drilling rigs from the field altogether, but will continue its drilling program in the Permian Basin. Comstock Resources has also said that early this year it will suspend drilling with four rigs in the Eagle Ford. Comstock will shift two rigs to the Haynesville Shale in northern Louisiana and idle the other two.
Swift Energy was founded in 1979 and focuses on oil and natural gas exploration and production onshore in Texas and Louisiana, and in the inland waters of Louisiana.