First Quarter 2012

• Summary Financial Information
• Summary Income Statement Information
• Consolidated Statements of Cash Flow
• Reconciliation of GAAP to non-GAAP Measures
• Quarterly Comparison Operational Performance
• Summary Balance Sheet Information
• Historical Fundamentals (Press Releases)

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 SWIFT ENERGY COMPANY
 SUMMARY FINANCIAL INFORMATION(1)
FROM CONTINUING OPERATIONS
 (Unaudited)
 (In Thousands Except Per Share and Price Amounts)

		Three Months Ended March 31,
		2012			2011			Percent Change
Revenues:
Oil & Gas Sales		$	136,142		$	144,201		(6)	%
Other			(264)			(123)
			------------			------------
Total Revenue		$	135,878		$	144,078		(6)	%
Income From Continuing Operations		$	3,570		$	20,249		(82)	%
Basic EPS – Continuing Operations		$	0.08		$	0.47		(83)	%
Diluted EPS – Continuing Operations		$	0.08		$	0.47		(83)	%
Net Cash Provided By Operating Activities – Continuing      Operations		$	63,783		$	61,716		3	%
Net Cash Provided By Operating Activities, Per Diluted      Share – Continuing Operations		$	1.49		$	1.45		3	%
Cash Flow Before Working Capital Changes(2)      (non-GAAP measure) – Continuing Operations		$	69,097		$	79,223		(13)	%
Cash Flow Before Working Capital Changes, Per Diluted      Share – Continuing Operations		$	1.61		$	1.86		(14)	%
Weighted Average Shares Outstanding (Basic)			42,674		$	42,190		1	%
Weighted Average Shares Outstanding (Diluted)			42,874		$	42,509		1	%
EBITDA (non-GAAP measure)		$	81,822		$	94,938		(14)	%
Production (MMBoe) – Continuing Operations			2.80		$	2.65		6	%
Realized Price ($/Boe) – Continuing Operations		$	48.64		$	54.51		(11)	%

(1)

The production, revenue, expense, cash flow and income information reported are the results of continuing operations of Swift Energy.

(2)

See reconciliation on page 7.  Management believes that the non-GAAP measures EBITDA and cash flow before working capital changes are useful information to investors because they are widely used by professional research analysts in the valuation, comparison, rating and investment recommendations of companies within the oil and gas exploration and production industry.  Many investors use the published research of these analysts in making their investment decisions.

SWIFT ENERGY COMPANY
  SUMMARY INCOME STATEMENT INFORMATION (Unaudited)
 - In Thousands Except Per BOE Amounts -

Note: Items may not total due to rounding.

SWIFT ENERGY COMPANY
  CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited)
 - In Thousands -

		Three Months Ended
		March 31, 2012			March 31, 2011
Cash Flows From Operating Activities:
Net Income		$	3,570		$	20,181
Loss  From Discontinued Operations, Net of Taxes			---			68
Adjustments to Reconcile Net Income to Net Cash Provided by Operating      Activities -
Depreciation, Depletion, and Amortization			61,363			52,921
Accretion of Asset Retirement Obligation (ARO)			1,112			1,136
Deferred Income Taxes			2,312			10,822
Stock Based Compensation Expense			3,629			2,684
Other			(2,889)			(8,589)
Change in Assets and Liabilities -
(Increase)/Decrease in Accounts Receivable			3,193			(13,612)
Decrease in Accounts Payable and Accrued Liabilities			(7,913)			(3,112)
Increase in Income Taxes Payable			---			2
Decrease in Accrued Interest			(594)			(785)
			--------------			--------------
Cash Provided by Operating Activities – Continuing Operations			63,783			61,716
Cash Provided by Operating Activities – Discontinued Operations			---			99
			--------------			--------------
Net Cash Provided by Operating Activities			63,783			61,815
			--------------			--------------
Cash Flows From Investing Activities:
Additions to Property and Equipment			(187,915)			(131,911)
Proceeds from the Sale of Property and Equipment			532			13
			--------------			--------------
Cash Used in Investing Activities – Continuing Operations			(187,383)			(131,898)
Cash Provided by Investing Activities – Discontinued Operations			---			5,000
			--------------			--------------
Net Cash Used in Investing Activities			(187,383)			(126,898)
			--------------			--------------
Cash Flows From Financing Activities:
Net Proceeds From Issuance of Common Stock			1,329			1,742
Purchase of Treasury Shares			(2,636)			(3,262)
			--------------			--------------
Cash Used in Financing Activities – Continuing Operations			(1,307)			(1,520)
Cash Provided by (Used in) Financing Activities – Discontinued Operations			---			---
			--------------			--------------
Net Cash Used in Financing Activities			(1,307)			(1,520)
Net Decrease in Cash and Cash Equivalents			(124,907)			(66,603)
Cash and Cash Equivalents at the Beginning of the Period			251,696			86,367
Cash and Cash Equivalents at the End of the Period		$	126,789		$	19,764

SWIFT ENERGY COMPANY
 Reconciliation of GAAP(a) to non-GAAP Measures
 (UNAUDITED)

 (In Thousands)

Note: Items may not total due to rounding.

SWIFT ENERGY COMPANY
 OPERATIONAL INFORMATION
 QUARTERLY COMPARISON -- SEQUENTIAL & YEAR-OVER-YEAR
 (UNAUDITED)

Please see Fundamentals Archives for earlier press release updates.