Swift Energy Brings Damaged Louisiana Well Under Control

Swift Energy Company announced today that as of 3:12 p.m. local time , Thursday, it has brought under control an outflow of water, oil and natural gas resulting from a marine vessel collision with a Swift Energy operated shut-in well head in the shallow waters of its Lake Washington field in Plaquemines Parish, Louisiana, which had occurred at approximately 7:00 pm, Tuesday, February 26.

The Company worked with and the assistance from numerous federal, state and local agencies, which include the United States Coast Guard, Louisiana Oil Spill Coordinators Office, Louisiana Department of Environmental Quality, Louisiana Department of Wildlife and Fisheries, Louisiana Department of Natural Resources and Plaquemines Parish to resolve this incident in a safe, timely and efficient manner.

The Lake Washington field is located in Southeast Louisiana. Situated in the northwest corner of Plaquemines Parish, it is an inland-water field that produces oil and natural gas liquids from multiple stacked Miocene sand layers radiating outward and downward from the surface of a centrally located salt dome. Drilling and completion operations in the field, which is highly faulted, are conducted from barge-based rigs.

Swift Energy Company, founded in 1979 and headquartered in Houston, engages in developing, exploring, acquiring and operating oil and gas properties, with a focus on oil and natural gas reserves onshore in Texas and Louisiana and in the inland waters of Louisiana.

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March 1, 2013