SWIFT ENERGY CO
			Symbol			SFY

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Swift Energy Company and Petrohawk Energy Corporation Announce Joint Venture to Develop Eagle Ford Shale

2009-11-02 15:16 ET - News Release

Also News Release (U-HK) PETROHAWK ENERGY CORP

Company Website: http://www.swiftenergy.com
HOUSTON -- (Business Wire)

Swift Energy Company (NYSE: SFY) (“Swift Energy”) and Petrohawk Energy Corporation (NYSE: HK) (“Petrohawk”) have executed a definitive agreement to jointly develop and operate an approximate 26,000 acre portion of Swift Energy’s Eagle Ford Shale acreage in McMullen County, Texas.

Swift Energy received approximately $26 million in cash consideration upon closing of the agreement. Petrohawk will also fund approximately $13 million of capital expenditures on Swift Energy’s behalf within the first twelve months of the joint venture. If any portion of this amount is not expended during the first twelve months, it will be paid to Swift Energy as cash consideration.

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