HOUSTON, March 18, 2005 – Swift Energy Company (NYSE: SFY) announced that a third-party natural gas sales pipeline downstream of the Lake Washington Field has been temporarily shut down, and the Company’s daily production from the Lake Washington area has been reduced pending the completion of repairs to this line. The field is still producing but at lower levels in order to minimize flaring of natural gas production that would normally be transported through this gas sales pipeline. Swift Energy has been notified by the pipeline operator that they expect the condition to be rectified by March 30, 2005. As a result of these reduced production levels, Swift Energy is lowering its previous guidance for domestic production in the first quarter of 2005 from 11.0 to 11.5 Billion cubic feet equivalent (“Bcfe”) to 10.8 to 11.0 Bcfe.

Celebrating its 25th anniversary in 2004 and headquartered in Houston, 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 Louisiana and Texas 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.