SWIFT ENERGY PENSION PARTNERS 1991-A LTD
8-K, 1998-06-26
CRUDE PETROLEUM & NATURAL GAS
Previous: PLC SYSTEMS INC, 3, 1998-06-26
Next: SWIFT ENERGY PENSION PARTNERS 1991-A LTD, 15-12G, 1998-06-26



<PAGE>

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                            -------------------------

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

       Date of Report (or Date of Earliest Event Reported): June 26, 1998



                   SWIFT ENERGY PENSION PARTNERS 1991-A, LTD.
             (Exact name of Registrant as specified in its charter)


        TEXAS                    33-37983-02               76-0333534

(State of incorporation    (Commission File Number)       (IRS Employer
    or organization)                                    Identification No.)


                        16825 Northchase Drive, Suite 400
                              Houston, Texas 77060
                    (Address of principal executive offices)



                                 (281) 874-2700
                         (Registrant's telephone number)


<PAGE>

ITEM 2.  Disposition of Assets
         ---------------------

     Substantially  all of the assets of Swift Energy Pension  Partners  1991-A,
Ltd. (the "Partnership"), consisting of non-operating interests in real property
and in oil and gas reserves located therein, ("Property Interests") were sold as
of March 1, 1998. A portion of the assets were sold at auction and the remaining
assets were sold to Swift Energy  Company,  the Managing  General Partner of the
Partnership,  after first being  offered to third  parties at auction with a set
minimum bid price based upon an appraisal of the value of the Property Interests
by an  independent  consultant.  The  Property  Interests  in the AWP  Field  in
McMullen  County,  Texas,  and the  Gloster  Jacob  #1 well  in  Marion  County,
Mississippi,  received  no bids at or above the set minimum bid price from third
parties at auction.  Thereafter,  the Managing  General  Partner  acquired these
Property  Interests at the minimum bid price set by the  independent  appraisal.
The price paid to the  Partnership  for the Property  Interests  acquired by the
Managing General Partner  accounted for  approximately 36% of the total proceeds
received from the sale of the  Partnership's  Property  Interests.  The Property
Interests  sold at auction  included  partial  interests in the following  three
properties: the Triangle Field in Thomas County, Kansas; the North Foss Field in
Custer  County,  Oklahoma;  and the North  Buck Draw Field in  Campbell  County,
Wyoming.  Collectively, the interests in these three fields accounted for 49% of
the total  proceeds.  The total  proceeds  to the  Partnership,  net of  selling
expenses,  were $664,258.  The interest  holders share was $564,619.  An initial
distribution  of proceeds  was made to the  interest  holders on April 15, 1998,
representing all the assets of the Partnership except for insubstantial  amounts
held back for contingency purposes. A small final distribution is anticipated to
be made on or about June 30, 1998, at which time the  Partnership  will dissolve
pursuant to the Texas Revised Limited Partnership Act.



                                    SIGNATURES

         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this report to be signed on its behalf by the
undersigned, hereunto duly authorized person.

Dated: June 26, 1998


                        SWIFT ENERGY PENSION PARTNERS 1991-A, LTD.


                        By:  Swift Energy Company, as Managing General Partner


                              By:  ----------------------------------------
                                   Alton D. Heckaman, Jr.
                                   Vice President and Controller


                                       2




© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission