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CORRECTED - CORRECTED-(NOV 2) BRIEF-Swift Energy, Petrohawk Energy announce

Tue Nov 3, 2009 6:45am EST

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(Corrects headline to show Swift Energy and Petrohawk Energy announce joint venture)

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Nov 2 (Reuters) - Petrohawk Energy Corp (HK.N): * Swift Energy Company (SFY.N) and Petrohawk Energy Corporation announce joint venture to develop Eagle Ford shale * Says Swift Energy received about $26 million in cash consideration upon closing of the agreement * Says will also fund approximately $13 million of capital expenditures on Swift Energy's behalf * Says appraisal drilling program covered by the agreement will begin before the end of 2009 * Says Swift Energy retains a 50% interest in the joint venture * Says acceleration of activity anticipated in 2010



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