HOUSTON, November 22, 2005 – Swift Energy Company (NYSE: SFY) announced today that it has closed the previously announced acquisition of interests in South Bearhead Creek Field in Beauregard Parish, Louisiana with an effective date of August 1, 2005. Swift Energy acquired a 100% working interest in the seller’s operated wells in the field and a 25% working interest in certain non-operated wells. South Bearhead Creek Field consists of approximately 5,800 gross acres located in the Toledo Bend area approximately 50 miles south of Swift Energy’s Masters Creek Field and 30 miles north of Lake Charles, Louisiana. The final purchase price of this acquisition is $24.3 million, subject to post-closing adjustments, and was funded with cash on hand.

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 onshore and inland waters oil and natural gas reserves in Louisiana and Texas and oil and natural gas reserves in New Zealand. Over the Company’s 26-year history, Swift Energy 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.