Swanson River No. 1 was spudded on April 5, 1957, and on July 19, 1957 tested 900 barrels per day -- the first significant commercial oil find in the Cook Inlet Basin.   Continuous production from the Hemlock Formation began in October 1958 from the Swanson River Unit No. 34-10 well.  By June 1962, 50 wells had been drilled, and the field was producing more than 20,000 barrels of oil per day.  Production peaked in November 1967, averaging 38,323 barrels of oil per day, but by April 1970, it dropped below 35,000 barrels per day, and began declining.  Ten years later, in April 1980, average daily oil production was 10,640 barrels, and twenty years later, in April 1990, oil production averaged 5,200 barrels per day.  In April 2000, oil production from the Hemlock Oil Pool averaged 1,860 barrels per day, and during December 2004, it averaged 752 barrels per day.