HOUSTON, September 20, 2004 – Swift Energy Company (NYSE: SFY) announced today that operations at its Lake Washington Field in Louisiana have been resumed following the production shut-in and evacuation due to Hurricane Ivan. Based on early indications, the field has experienced no significant damage as a result of the hurricane. Both the drilling rig and completion rig are back at work in the field. The cumulative estimated production shut-in during this period amounted to less than 0.5 Billion cubic feet equivalent (“Bcfe”).

Celebrating its 25th Anniversary this year, Swift Energy Company was founded in 1979 with its headquarters in Houston, Texas. Swift Energy engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on onshore and inland waters oil and natural gas reserves in Texas and Louisiana and onshore oil and natural gas reserves in New Zealand. The Company has consistently shown long-term growth in its proved oil and gas reserves, production and cash flow through a disciplined program of acquisitions and drilling, while maintaining a strong financial position.

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.