Swift Energy Company (NYSE: SFY) announced that today it has closed both its previously announced public offering of 5,400,000 shares of its common stock and the sale of an additional 810,000 shares of common stock to cover the underwriters’ full exercise of their over-allotment option, all at a price of $18.50 per share.

The net proceeds from this offering of an aggregate of 6,210,000 shares are approximately $108.8 million after underwriter’s fees and offering expenses were deducted and such proceeds will be used to pay down borrowings under the Company’s revolving credit facility and to use the funds then made available under that credit facility for general corporate purposes.

J.P. Morgan Securities Inc. acted as the book-running manager of the offering. Co-managers were UBS Securities LLC, Wells Fargo Securities, LLC, Credit Suisse Securities (USA) LLC, Howard Weil Incorporated, Natixis Bleichroeder Inc., and RBC Capital Markets Corporation.

A copy of the final prospectus supplement and related base prospectus for the offering can be obtained from the Securities and Exchange Commission’s website, www.sec.gov. Alternatively, the underwriters will arrange to send you the final prospectus supplement and related base prospectus if you request them by contacting J.P. Morgan Securities Inc. at 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245, Attn: Chase Distribution and Support Service, Northeast Statement Processing, or by telephone to (718) 242-8002, or by fax at (718) 242-8003.

This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the shares of common stock described in this press release are to be made exclusively by means of a prospectus and final prospectus supplement.

Swift Energy Company, founded in 1979 and headquartered in Houston, engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Louisiana and Texas and in the inland waters of Louisiana.

This material 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, or other statements other than statements of historical fact, are forward-looking statements. 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.