FORM 10-K FOR FISCAL YEAR ENDED DECEMBER 31, 2004


Consolidated Statements of Stockholders' Equity

Swift Energy Company and Subsidiaries


Accumulated

Additional Other
Common Paid-in Treasury Unearned Retained Comprehensive
Stock (1) Capital Stock Compensation

Earnings

Income (Loss)

Total

---------------

-----------------

-----------------

-----------------

-----------------

-----------------

-----------------

Balance, December 31, 2001

$256,346

$296,172,820

$(12,032,791)

-

$28,256,345

-

$312,652,720

Stock issued for benefit plans

   (38,149 shares)

292

617,960

127,795

-

-

-

746,047

Stock options exercised

   (112,995 shares)

1,130

924,719

-

-

-

-

925,849

Tax benefits from exercise of
   stock options

-

281,694

-

-

-

-

281,694

Public stock offering

   (1,725,000 shares)

17,250

30,465,809

-

-

-

-

30,483,059

Employee stock purchase plan

   (9,801 shares)

98

122,343

-

-

-

-

122,441

Stock issued in acquisitions

   (520,000 shares)

3,000

4,958,126

3,155,074

-

-

-

8,116,200

Comprehensive income:

Net income

-

-

-

-

11,923,227

-

11,923,227

Change in fair value of
   cash flow hedges, net of
   income tax

 

-

 

-

 

-

 

-

 

-

 

(178,053)

 

(178,053)

Total comprehensive income

-

-

-

-

-

-

11,745,174

----------------

----------------

----------------

----------------

----------------

----------------

----------------

Balance, December 31, 2002

$278,116

$333,543,471

$(8,749,922)

-

$40,179,572

$(178,053)

$365,073,184

==========

==========

==========

==========

==========

==========

==========

Stock issued for benefit plans

   (83,201 shares)

1

(408,178)

1,191,829

-

-

-

783,652

Stock options exercised

   (142,807 shares)

1,428

1,158,984

-

-

-

-

1,160,412

Tax benefits from exercise of
   stock options

-

156,980

-

-

-

-

156,980

Employee stock purchase plan

   (56,574 shares)

566

413,947

-

-

-

-

414,513

Comprehensive income:

Net income

-

-

-

-

29,893,812

-

29,893,812

Change in fair value of
   cash flow hedges, net of
   income tax

 

-

 

-

 

-

 

-

 

-

 

(91,289)

 

(91,289)

Total comprehensive income

-

-

-

-

-

-

29,802,523

----------------

----------------

----------------

----------------

----------------

----------------

----------------

Balance, December 31, 2003

$280,111

$334,865,204

$(7,558,093)

-

$70,073,384

$(269,342)

$397,391,264

==========

==========

==========

==========

==========

==========

==========

Stock issued for benefit plans

   (46,150 shares)

-

166,298

661,848

-

-

-

828,146

Stock options exercised

   (509,105 shares)

5,091

4,260,882

-

-

-

-

4,265,973

Tax benefits from exercise of
   stock options

-

1,956,555

-

-

-

-

1,956,555

Employee stock purchase plan

   (50,418 shares)

504

502,097

-

-

-

-

502,601

Issuance of restricted stock

-

1,785,262

-

(1,785,262)

-

-

-

Amortization of restricted stock

   compensation

-

-

56,677

-

-

56,677

Comprehensive income:

Net income

-

-

-

-

68,450,917

-

68,450,917

Change in fair value of
   cash flow hedges, net of
   income tax

-

-

-

-

-

720,007

720,007

Total comprehensive income

-

-

-

-

-

-

69,170,924

----------------

----------------

----------------

----------------

----------------

----------------

----------------

Balance, December 31, 2004

$285,706

$343,536,298

$(6,896,245)

$(1,728,585)

$138,524,301

$450,665

$474,172,140

==========

==========

==========

==========

==========

==========

==========

 


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