Swift Energy Company Closes Sale Of Non-Strategic Properties

Swift Energy Company announced that it has closed the previously announced disposition of its interests in six fields in South Louisiana, two in Texas and one in Alabama with EnergyQuest II, LLC effective August 1, 2011. The final sales price of the property interests, which were sold, was $53.5 million. As previously indicated, Swift Energy will use the net cash proceeds of approximately $48.8 million from this transaction (as adjusted for cash flows from effective date through closing date) to fund a portion of its 2011 capital expenditures.