Swift Energy Company: 2002 Form 10-K, Consolidated Balance Sheets

	December 31,

	2002	2001
	----------------------	----------------------
ASSETS

Current Assets:
Cash and cash equivalents	$ 3,816,107	$ 2,149,086
Accounts receivable --
Oil and gas sales	17,360,716	14,215,189
Associated limited partnerships and joint ventures	191,964	6,259,604
Joint interest owners	3,364,846	11,467,461
Other current assets	5,034,566	2,661,640
	----------------------	----------------------
Total Current Assets	29,768,199	36,752,980
	----------------------	----------------------
Property and Equipment:
Oil and gas, using full-cost accounting
Proved properties	1,150,633,802	974,698,428
Unproved properties	69,603,481	95,943,163
	----------------------	----------------------
	1,220,237,283	1,070,641,591
Furniture, fixtures and other equipment	9,595,944	8,706,414
	----------------------	----------------------
	1,229,833,227	1,079,348,005
Less--Accumulated depreciation, depletion,
and amortization	(504,323,773)	(448,139,334)
	----------------------	----------------------
	725,509,454	631,208,671
	----------------------	----------------------
Other Assets:
Deferred income taxes	2,680,585	---
Deferred charges	9,047,621	3,723,182
	----------------------	----------------------
	11,728,206	3,723,182
	----------------------	----------------------
	$767,005,859	$671,684,833
	===========	===========

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities:
Accounts payable and accrued liabilities	$ 43,028,708	$ 38,884,380
Payable to associated limited partnerships	91,126	26,573,490
Undistributed oil and gas revenues	3,764,350	7,787,465
	----------------------	----------------------
Total Current Liabilities	46,884,184	73,245,335
	----------------------	----------------------

Long-Term Debt	324,271,973	258,197,128
Deferred Income Taxes	30,776,518	27,589,650

Commitments and Contingencies

Stockholders' Equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized,
none outstanding	---	---
Common stock, $.01 par value, 85,000,000 shares authorized,
27,811,632 and 25,634,598 shares issued, and 27,201,509 and
24,795,564 shares outstanding, respectively	278,116	256,346
Additional paid-in capital	333,543,471	296,172,820
Treasury stock held, at cost, 610,123 and 839,034 shares, respectively	(8,749,922)	(12,032,791)
Retained earnings	40,179,572	28,256,345
Accumulated other comprehensive loss, net of income tax	(178,053)	---
	----------------------	----------------------
	365,073,184	312,652,720
	----------------------	----------------------
	$ 767,005,859	$ 671,684,833
	===========	===========

FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2002

Consolidated Balance Sheets

Swift Energy Company and Subsidiaries

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