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Total revenues for the second quarter decreased 68% to $82.9 million from $262.7 million in the second quarter of 2008, primarily attributable to lower commodity prices.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.13 per share on revenue of $79.50 million for the quarter. Analysts' estimates typically exclude special items.

In a separate development, Swift Energy said that it has commenced a public offering of 5 million shares of its common stock.

The company has granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any.

The net proceeds of this offering will be used to pay down borrowings under the company's revolving credit facility and to use the funds then made available under that credit facility for general corporate purposes.

Swift Energy's competitors include Exxon Mobile (XOM) and Meridian Resource (TMR)

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