HOUSTON, November 10, 2010 – Swift Energy Company (NYSE: SFY) announced today that it has commenced a public offering of 3,000,000 shares of its common stock.  The net proceeds of this offering will be used to fund a portion of the Company’s 2011 capital budget, which includes an accelerated drilling program to increase production and reserves, primarily targeting its liquids rich acreage in the Eagle Ford shale and the Olmos sands in South Texas.  The Company has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares of common stock to cover over-allotments, if any.

J.P. Morgan Securities LLC. is acting as the sole book-running manager of the offering.  The offering is being made pursuant to an effective shelf registration statement that the Company previously filed with the Securities and Exchange Commission.

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 will be made exclusively by means of a prospectus and prospectus supplement.

When available, copies of the preliminary prospectus supplements and accompanying base prospectus relating to the offering may be obtained by contacting J.P. Morgan Securities LLC., via Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (866) 803-9204. Copies of the preliminary prospectus supplements and accompanying base prospectus will also be available on the Securities and Exchange Commission’s website at www.sec.gov.

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.