Swift Energy Announces: 185% Increase in Third Quarter 2013 Earnings to $8.9 Million, or $0.20 Per Diluted Share

  Swift Energy Announces: 185% Increase in Third Quarter 2013 Earnings to $8.9
  Million, or $0.20 Per Diluted Share

19% Increase in Third Quarter 2013 Revenues to $153.0 Million;
24% Increase in Third Quarter 2013 Cash Flow before Working Capital Changes of
$88.5 Million

Business Wire

HOUSTON -- October 31, 2013

Swift Energy Company (NYSE: SFY) announced today earnings of $8.9 million for
the third quarter of 2013, or $0.20 per diluted share, an increase of 185%
when compared to third quarter 2012 earnings of $3.1 million, or $0.07 per
diluted share, and an increase of 32% when compared to earnings of $6.7
million, or $0.15 per diluted share in the second quarter of 2013.

Cash flow before working capital changes (a non-GAAP measure - see page 7 for
reconciliation to the GAAP measure) for the third quarter of 2013 was $88.5
million, an increase of 24% when compared to $71.2 million of the same measure
in the third quarter 2012.

Production increased 6% to 3.06 million barrels of oil equivalent (“MMBoe”)
during the third quarter of 2013, compared to the third quarter 2012
production of 2.87 MMBoe, and up 10% compared to second quarter 2013
production of 2.78 MMBoe.

Terry Swift, CEO of Swift Energy commented, “During the third quarter, we have
continued to improve our operational efficiencies in South Texas. Despite a
slower drilling and completion pace than earlier in the year, we grew
production during the quarter primarily as a result of greater productivity
per well. Our emphasis on drilling horizontal wells in a narrow, high quality
interval of the lower Eagle Ford has resulted in more exposure to the highest
quality rock available on our leases. When possible, we are now logging each
horizontal lateral we drill, resulting in more effective frac stage placement
and improved performance of our completion operations. The combination of
these efforts has led to significant improvement in the productivity of our
wells.

“Further, we are optimizing our completion designs with longer lateral
lengths, increases in frac stages and the volume of frac sand to increase
initial production rates and cumulative production of Eagle Ford shale
horizontal wells. We expect continued performance and efficiency improvements
as we exploit these relationships in our drilling program.”

Third Quarter Revenues and Expenses

Total revenues for the third quarter of 2013 increased 19% to $153.0 million
from the $128.8 million generated in the third quarter of 2012. This increase
is primarily attributable to higher oil and NGL production volumes along with
higher natural gas prices.

Depreciation, depletion and amortization expense (“DD&A”) of $21.90 per barrel
of oil equivalent (“Boe”) in the third quarter of 2013 increased 7% from
$20.52 per Boe of that measure in the comparable period in 2012 due to a
higher depletable base partially offset by the addition of reserves.

Lease operating expenses, excluding transportation and processing expense and
before severance and ad valorem taxes, were $7.55 per Boe in the third quarter
2013, a 3% decrease on a per unit basis compared to the same period of 2012
due to increased production volumes. Overall costs increased due to higher
lease operator and compressor costs in South Texas associated with the
increased production volumes, partially offset by lower salt water disposal
costs.

Severance and ad valorem taxes increased to $3.83 per Boe in the third quarter
2013 from $3.72 per Boe in the third quarter of 2012.

General and administrative expenses decreased to $3.65 per Boe during the
third quarter of 2013, down from $4.16 per Boe in the same period in 2012 as a
result of lower overall compensation costs. Interest expense increased to
$5.72 per Boe in the third quarter of 2013 compared to $4.79 per Boe for the
same period in 2012 due to additional long term debt issued during the fourth
quarter of 2012.

Third Quarter Pricing

The Company realized an aggregate average price of $50.72 per Boe during the
quarter, an increase from the $44.51 per Boe average price received in the
third quarter of 2012 and slightly higher than the $50.71 per Boe average
price received in the second quarter of 2013.

In the third quarter of 2013, Swift Energy’s average crude oil prices
increased 5% to $108.17 per barrel from $102.73 per barrel realized in the
same period in 2012. For the same period, average natural gas prices were
$3.15 per thousand cubic feet (“Mcf”), up 25% from the $2.52 per Mcf average
price realized a year earlier. Prices for NGLs averaged $31.67 per barrel in
the 2013 third quarter, a 1% increase from third quarter 2012 NGL prices of
$31.29 per barrel.

Third Quarter Drilling Activity

In the third quarter of 2013, Swift Energy drilled twelve operated wells and
participated in one non-operated well. Eleven horizontal wells were drilled to
the Eagle Ford shale in the Company’s South Texas core area. This activity
included eight wells in McMullen County and three wells in LaSalle County.

In the Company’s Central Louisiana core area, one non-operated well targeting
the Austin Chalk was drilled in the Burr Ferry field. Also during the third
quarter, one Swift operated well was drilled to the Niobrara formation in La
Plata County, Colorado.

The Company currently has two operated rigs active in the Company’s South
Texas core area drilling Eagle Ford shale wells and expects to add a third rig
to the area during the fourth quarter.

Operations Update:

South Texas Operations

In the Company’s South Texas core area, nine operated wells were completed
during the third quarter. In McMullen County, six Eagle Ford wells were
completed. In LaSalle County, three Eagle Ford wells were completed.


Initial Production Test Rates of South Texas Horizontal Wells
Completed in Third Quarter 2013
(Operated unless otherwise noted)
                                                                                        
                                                 Natural      Residual     Barrels of                  Choke
Well Name    County/Formation   Oil        Gas        Natural    Oil          Pressure  
               Target               (Bbls/d)     Liquids      Gas          Equivalent     (psi)        Setting
                                                 (Bbls/d)     (MMcf/d)     (Boe/d)
SMR EF 9H      McMullen – Eagle     1,087        38           0.3          1,177          1,913        18/64”
               Ford
PCQ EF 10H     McMullen – Eagle     933          63           0.5          1,083          2,929        16/64”
               Ford
Baetz A EF     La Salle – Eagle     396          300          2.4          1,101          1,750        23/64”
4H             Ford
Carden         La Salle – Eagle     142          330          3.6          1,076          2,454        21/64”
West EF 3H     Ford
Hayes EF       McMullen – Eagle     549          69           0.6          713            2,852        15/64”
5H             Ford
Hayes EF       McMullen – Eagle     682          37           0.3          769            3,050        14/64”
6H             Ford
PCQ EF 11H     McMullen – Eagle     1,030        118          1.0          1,311          2,859        20/64”
               Ford
ARN EF 9H      La Salle – Eagle     383          387          3.3          1,314          2,433        20/64”
               Ford
Whitehurst     McMullen – Eagle
JV EF 2H       Ford                 447          793          6.5          2,323          5,420        20/64”
(50% W.I)
                                                                                                       

The Company utilized an enhanced completion design on the Whitehurst JV EF 2H,
pumping approximately 25% more proppant and fluid during stimulation
operations than in prior wells. Early test results of this well are
encouraging and the Company expects to utilize this enhanced completion design
more frequently throughout its Eagle Ford program.

During the fourth quarter, the Company also enhanced the completion technique
used on the recently completed the SMR EF 11H. Frac stage intervals and
perforation clusters were tightened and twice as much proppant and fluid were
pumped during the completion than in previous wells in this area. Initial test
rates of 1,608 Boe/d comprised of 1,446 Bbls/d of oil, 83 Bbls/d of natural
gas liquids and 0.5 Mmcf/d with flowing casing pressure 2,250 psi on a 16/64”
choke indicate improved performance in this well relative to prior wells
completed in this area.

This technique will be utilized in future Eagle Ford completions as results
continue to indicate a positive relationship between tighter frac stage
intervals, higher proppant and fluid volumes and initial well performance.

Southeast Louisiana

In the Lake Washington field in Plaquemines Parish, LA, the Company continued
its ongoing recompletion and production optimization program, performing 6
recompletions and 17 production optimization projects during the quarter.

Central Louisiana

In the Burr Ferry field in Vernon Parish, Louisiana, the non-operated Indigo
17-1 was completed and tested during the third quarter. Initial production
rates of this well, as reported by the operator, were 617 barrels of oil per
day and 4.8 million cubic feet of gas per day on a 24/64” choke with flowing
tubing pressure of 5,400 psi. This well is now producing to permanent
facilities and is online.

Also as previously announced, the Company has retained Scotia Waterous (USA)
Inc. to conduct a sales process for its Central Louisiana assets. These assets
include approximately 86,000 mineral acres and three producing oil and natural
gas fields: Burr Ferry, Masters Creek and South Bearhead Creek located in the
Austin Chalk and Wilcox fairways.

The audited proved reserves estimates of these fields at year end 2012 totaled
20.4 million barrels of oil equivalent, of which 65.2% were classified as oil
or natural gas liquids. The Company estimates that the future resource
potential of these fields is up to approximately 180 million barrels of oil
equivalent.

Strategic Growth

In La Plata County, Colorado, Swift Energy drilled a well targeting the
Niobrara formation during the third quarter. Completion operations are
expected to be conducted during the fourth quarter of 2013.

Borrowing Base Reaffirmed

After a regularly scheduled semi-annual review by its 11 member bank group,
Swift Energy’s borrowing base of $450 million was reaffirmed under its
revolving credit facility effective October 28, 2013. The credit facility
matures on November 1, 2017.

Price Risk Management

In the fourth quarter, Swift Energy has entered into hedging transactions
covering approximately 40% of expected fourth quarter natural gas production
and approximately 60% of expected fourth quarter crude oil production. The
company has also entered into hedging transactions for the first quarter of
2014 covering 29,000 barrels per month of crude oil production. On an ongoing
basis, details of Swift Energy’s complete price risk management activities can
be found on the Company’s website (www.swiftenergy.com).

Earnings Conference Call

Swift Energy will conduct a live conference call today, October 31, at 10:00
a.m. EDT to discuss third quarter 2013 financial results and fourth quarter
operational and financial expectations. To participate in this conference
call, dial 973-339-3086 five to ten minutes before the scheduled start time
and indicate your intention to participate in the Swift Energy conference
call. A digital replay of the call will be available later on October 31 until
November 6, by dialing 855-859-2056 and using Conference ID # 72267440.
Additionally, the conference call will be available over the Internet by
accessing the Company’s website at www.swiftenergy.com and by clicking on the
event hyperlink. This webcast will be available online and archived at the
Company’s website.

About Forward Looking Statements

This press release includes “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The opinions, forecasts,
projections, guidance or other statements contained herein, other than
statements of historical fact, are forward-looking statements, including
targets for 2013 production and reserves growth, per well costs and per BOE
costs, and estimates of 2013 capital expenditures and guidance estimates for
the fourth quarter of 2013 and full-year 2013. These statements are based upon
assumptions that are subject to change and to risks, especially the
uncertainty and costs of finding, replacing, developing and acquiring
reserves, availability and cost of capital, labor, services, supplies and
facility capacity, hurricanes or tropical storms disrupting operations, and,
volatility in oil or gas prices, uncertainty and costs of finding, replacing,
developing or acquiring reserves, and disruption of operations. Although the
Company believes that the expectations reflected in such forward-looking
statements are reasonable, it can give no assurance that such expectations
will prove to have been correct. Certain risks and uncertainties inherent in
the Company’s business are set forth in the filings of the Company with the
Securities and Exchange Commission. Estimates of future financial or operating
performance provided by the Company are based on existing market conditions
and engineering and geologic information available at this time. Actual
financial and operating performance may be higher or lower. Future performance
is dependent upon oil and gas prices, exploratory and development drilling
results, engineering and geologic information and changes in market
conditions.

                                                
SWIFT ENERGY COMPANY
SUMMARY FINANCIAL INFORMATION
(Unaudited)
(In Thousands Except Per Share and Price Amounts)
                                                    
              Three Months Ended                    Nine Months Ended
              September 30,                         September 30,
              2013         2012       Percent     2013         2012       Percent
                                        Change                                Change
Revenues:
Oil & Gas     $ 155,049     $ 127,946   21   %      $ 442,418     $ 396,068   12   %
Sales
Other          (2,048  )   804                    (714    )   3,317
Total         $ 153,001     $ 128,750   19   %      $ 441,704     $ 399,385   11   %
Revenue
Net Income    $ 8,886       $ 3,122     185  %      $ 22,817      $ 9,720     135  %
Basic EPS     $ 0.20        $ 0.07      186  %      $ 0.53        $ 0.23      130  %
Diluted EPS   $ 0.20        $ 0.07      186  %      $ 0.52        $ 0.23      126  %
Net Cash
Provided By   $ 76,076      $ 68,005    12   %      $ 225,607     $ 223,684   1    %
Operating
Activities
Cash Flow
Before
Working
Capital       $ 88,468      $ 71,215    24   %      $ 233,895     $ 213,041   10   %
Changes^(1)
(non-GAAP
measure)
Weighted
Average
Shares          43,389        42,901    (1)  %        43,308        42,812    (1)  %
Outstanding
(Basic)
Weighted
Average
Shares          43,704        43,239    (1)  %        43,624        43,158    (1)  %
Outstanding
(Diluted)
EBITDA
(non-GAAP     $ 101,299     $ 79,484    27   %      $ 280,534     $ 242,190   16   %
measure)
Production      3.06          2.87      6    %        8.65          8.59      1    %
(MMBoe)
Realized
Price         $ 50.72       $ 44.51     14   %      $ 51.12       $ 46.10     11   %
($/Boe)

    
      See reconciliation on page 7. Management believes that the non-GAAP
      measures EBITDA and cash flow before working capital changes are useful
      information to investors because they are widely used by professional
(1)   research analysts in the valuation, comparison, rating and investment
      recommendations of companies within the oil and gas exploration and
      production industry. Many investors use the published research of these
      analysts in making their investment decisions.


SWIFT ENERGY COMPANY
RECONCILIATION OF GAAP^(a) TO NON-GAAP MEASURES
(Unaudited)
(In Thousands)

                          Three Months Ended                       
                           September 30, 2013  September 30, 2012     Percent
                                                                       Change
CASH FLOW
RECONCILIATIONS:
Net Cash Provided by       $    76,076          $    68,005            12   %
Operating Activities
Increases and Decreases
In:
Accounts Receivable             4,297                (1,884    )
Accounts Payable and            (268      )          (262      )
Accrued Liabilities
Income Taxes Payable            30                   50
Accrued Interest               8,333              5,306     
Cash Flow Before Working   $    88,468         $    71,215           24   %
Capital Changes
                                                                            
INCOME TO EBITDA
RECONCILIATIONS:
                                                                            
Net Income                 $    8,886           $    3,122             185  %
Provision for Income            6,492                2,422
Taxes
Interest Expense, Net           17,495               13,762
Depreciation, Depletion        68,426             60,178    
& Amortization & ARO (b)
EBITDA                     $    101,299        $    79,484           27   %
                                                                       
                           Nine Months Ended
                           September 30, 2013   September 30, 2012     Percent
                                                                       Change
CASH FLOW
RECONCILIATIONS:
Net Cash Provided by       $    225,607         $    223,684           1    %
Operating Activities
Increases and Decreases
In:
Accounts Receivable             3,696                (14,385   )
Accounts Payable and            (3,873    )          3,051
Accrued Liabilities
Income Taxes Payable            208                  248
Accrued Interest               8,257              443       
Cash Flow Before Working   $    233,895        $    213,041          10   %
Capital Changes
                                                                       
INCOME TO EBITDA
RECONCILIATIONS:
                                                                            
Net Income                 $    22,817          $    9,720             135  %
Provision for Income            15,162               6,821
Taxes
Interest Expense, Net           51,297               40,546
Depreciation, Depletion        191,258            185,103   
& Amortization & ARO (b)
EBITDA                     $    280,534        $    242,190          16   %

(a)GAAP—Generally Accepted Accounting Principles
(b)Includes accretion of asset retirement obligation

Note: Items may not total due to rounding

                                                
SWIFT ENERGY COMPANY
SUMMARY BALANCE SHEET INFORMATION
(Unaudited)
(In Thousands)
                                                   
                              As of                As of
                              September 30, 2013   December 31, 2012
Assets:
Current Assets:
Cash and Cash Equivalents     $   97               $  170
Other Current Assets             80,761            80,367      
Total Current Assets              80,858              80,537
                                                   
Oil and Gas Properties            5,565,107           5,151,103
Other Fixed Assets                41,993              41,690
Less-Accumulated DD&A            (3,034,614  )      (2,847,773  )
Total Properties                  2,572,486           2,345,020
                                                   
Other Assets                     17,411            18,504      
                              $   2,670,755       $  2,444,061   
Liabilities:
Current Liabilities           $   160,767          $  177,480
Long-Term Debt                    1,120,402           916,934
Deferred Income Taxes             238,622             223,243
Asset Retirement Obligation       68,628              79,643
Other Long-term Liabilities       10,253              9,901
Stockholders’ Equity             1,072,083         1,036,860   
                              $   2,670,755       $  2,444,061   
                                                                  
Note: Items may not total due to rounding

                                                  
SWIFT ENERGY COMPANY
SUMMARY INCOME STATEMENT INFORMATION
(Unaudited)
In Thousands Except Per Boe Amounts
                                                      
                         Three Months Ended           Nine Months Ended
                         September 30,   Per Boe     September 30,   Per Boe
                         2013                         2013
Revenues:
Oil & Gas Sales          $  155,049       $ 50.72     $  442,418       $ 51.12
Other Revenue              (2,048   )                 (714     )    
                           153,001       50.05       441,704       51.04
Costs and Expenses:
General and                 11,146          3.65         35,062          4.05
Administrative, net
Depreciation,
Depletion &                 66,948          21.90        186,526         21.55
Amortization
Accretion of Asset
Retirement Obligation       1,478           0.48         4,732           0.55
(ARO)
Lease Operating Costs       23,078          7.55         77,459          8.95
Transportation and          5,783           1.89         16,678          1.93
Processing Expense
Severance & Other           11,695          3.83         31,971          3.69
Taxes
Interest Expense, Net      17,495        5.72        51,297        5.93
Total Costs & Expenses     137,623       45.02       403,725       46.65
Income Before Income        15,378          503          37,979          4.39
Taxes
Provision for Income       6,492         2.12        15,162        1.75
Taxes
Net Income               $  8,886        $ 2.91      $  22,817       $ 2.64
                                                                       
                                                                       
Additional
Information:
Total Capital            $  115,848                   $  414,307
Expenditures
Capitalized General &    $  7,916                     $  23,881
Administrative
Capitalized Interest     $  1,757                     $  5,590
Expense
Deferred Income Tax      $  6,492                     $  15,162
                                                                       
Note: Items may not total due to rounding


SWIFT ENERGY COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOW
(Unaudited)
(In Thousands)
                                     
                                       Nine Months Ended
                                       September 30, 2013  September 30, 2012
Cash Flows From Operating
Activities:
Net Income                             $   22,817           $   9,720
Adjustments to Reconcile Net Income
to Net Cash Provided by Operating          186,526              181,638
Activities - Depreciation,
Depletion, and Amortization
Accretion of Asset Retirement              4,732                3,465
Obligation (ARO)
Deferred Income Taxes                      15,162               8,239
Stock Based Compensation Expense           8,454                10,562
Other                                      (3,796     )         (583       )
Change in Assets and Liabilities -
(Increase)/Decrease in Accounts            (3,696     )         14,385
Receivable
Increase/(Decrease) in Accounts            3,873                (3,051     )
Payable and Accrued Liabilities
Decrease in Income Taxes Payable           (208       )         (248       )
Decrease in Accrued Interest              (8,257     )        (443       )
Net Cash Provided by Operating            225,607            223,684    
Activities
                                                            
Cash Flows From Investing
Activities:
Additions to Property and Equipment        (435,722   )         (575,711   )
Proceeds from the Sale of Property        6,990              523        
and Equipment
Net Cash Used in Investing                (428,732   )        (575,188   )
Activities
                                                            
Cash Flows From Financing
Activities:
Net Proceeds From Bank Borrowings          203,600              102,640
Net Proceeds From Issuance of Common       946                  1,599
Stock
Purchase of Treasury Shares               (1,494     )        (2,781     )
Net Cash Provided by Financing            203,052            101,458    
Activities
Net Decrease in Cash and Cash              (73        )         (250,046   )
Equivalents
                                                            
Cash and Cash Equivalents at the          170                251,696    
Beginning of the Period
Cash and Cash Equivalents at the End   $   97              $   1,650      
of the Period
                                                                           

                                                     
SWIFT ENERGY COMPANY
OPERATIONAL INFORMATION
QUARTERLY COMPARISON -- SEQUENTIAL & YEAR-OVER-YEAR
(Unaudited)
                                                          
                   Three Months Ended                     Three Months Ended
                   September 30,   June 30,   Percent     September    Percent
                   2013           2013       Change      30,         Change
                                                          2012
Production :
Oil & Natural
Gas Equivalent          3,057        2,778    10   %         2,875     6   %
(MBoe)
Natural Gas             8.72         7.91     10   %         8.96      (3  )%
(Bcf)
Crude Oil (MBbl)        1,004        911      10   %         870       15  %
NGL (MBbl)              600          549      9    %         512       17  %
                                                                       
Average Prices:
Combined Oil &
Natural Gas        $    50.72      $ 50.71    0    %      $  44.51     14  %
($/Boe)
Natural Gas        $    3.15       $ 3.86     (18  )%     $  2.52      25  %
($/Mcf)
Crude Oil          $    108.17     $ 103.15   5    %      $  102.73    5   %
($/Bbl)
NGL ($/Bbl)        $    31.67      $ 29.74    6    %      $  31.29     1   %
                                                                       

                                                                  
SWIFT ENERGY COMPANY
FOURTH QUARTER AND FULL YEAR 2013
GUIDANCE ESTIMATES
                                                                        
                               Actual       Guidance                    Guidance
                               For          For                         For
                               Third        Fourth                      Full
                               Quarter      Quarter                     Year
                               2013         2013                        2013
Production Volumes (MMBoe)     3.06         3.00     -     3.10         11.65     -     11.75
                                                                                        
Production Mix:
Natural Gas (Bcf)              8.72         8.34     -     8.61         32.6      -     32.9
Crude Oil (MMBbl)              1.00         1.01     -     1.05         3.92      -     3.95
Natural Gas Liquids (MMBbl)    0.60         0.59     -     0.61         2.30      -     2.32
Product Pricing (Note 1):
Natural Gas (per Mcf)
NYMEX Differential (Note 2)    ($0.42)      ($0.25)  -     ($0.50)      ($0.25)   -     ($0.50)
Crude Oil (per Bbl)
NYMEX Differential (Note 3)    $2.35        ($5.00)  -     ---          $4.00     -     $7.00
NGL (per Bbl)
Percent of NYMEX Crude         30%          25%      -     35%          30%       -     35%
Oil & Gas Production Costs:
Lease Operating Costs (per     $7.55        $7.85    -     $8.05        $8.65     -     $8.75
Boe)
Transportation and             $1.89        $1.75    -     $1.85        $1.90     -     $1.95
Processing (per Boe)
Severance & Ad Valorem Taxes   7.6%         7.0%     -     8.0%         7.0%      -     8.0%
(as % of Revenue dollars)
Other Costs:
G&A per Boe                    $3.65        $3.80    -     $3.95        $4.00     -     $4.05
Interest Expense per Boe       $5.72        $5.70    -     $5.95        $5.85     -     $5.95
DD&A per Boe                   $21.90       $21.70   -     $22.00       $21.70    -     $21.85
Supplemental Information:
Capital Expenditures (in
Thousands)
Operations                     $109,407     $90,693  -     $94,993      $498,000  -     $499,000
Acquisitions/(Dispositions),   (149)        ---      -     ---          ($6,800)  -     ($6,800)
net
Acquisitions/(Dispositions),
                               (3,083)      ---      -     ---          ($14,300) -     ($14,300)
Change in ARO
Capitalized G&A (Note 4)       $7,916       $8,000   -     $8,400       $30,000   -     $33,000
Capitalized Interest           $1,757       $2,000   -     $2,300       $8,000    -     $9,000
Total Capital Expenditures     $115,848     $100,693 - $105,693     $515,000  - $520,000
                                                                                        
Basic Weighted Average         43,389       43,300   -     43,500       43,300    -     43,400
Shares
                                                                                        
Diluted Weighted Average       43,704       43,600   -     43,900       43,600    -     43,800
Shares
                                                                                        
Effective Tax Rate             42.2%        39.0%    -     43.0%        39.0%     -     42.0%
Deferred Tax Percentage        100%         100%                        100%
                                                                                        

          Swift Energy maintains all its current price risk management
Note 1:  instruments (hedge positions) on its Hedge Activity page on the
          Swift Energy website (www.swiftenergy.com).
          Average of monthly closing Henry Hub NYMEX futures price for the
Note 2:   respective contract months, included in the period, which best
          benchmarks the 30-day price received for natural gas sales.
          Average of daily WTI NYMEX futures price during the calendar period
Note 3:   reflected, which best benchmarks the daily price received for the
          majority of crude oil sales.
Note 4:   Does not include capitalized acquisition costs, incorporated in
          acquisitions when occurred.

Contact:

Swift Energy Company
Paul Vincent, 281-874-2700 or 800-777-2412
Director – Finance & Investor Relations