Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SWIFT TERRY E
   2. Issuer Name and Ticker or Trading Symbol
SWIFT ENERGY CO [SFY] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
COB & CEO
(Last)
(First)
(Middle)
16825 NORTHCHASE DRIVE, SUITE 400		 3. Date of Earliest Transaction (Month/Day/Year)
11/28/2006
(Street)

HOUSTON, TX 77060		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
SFY Common Stock-401(k)               7,490 I 401(k) Plan
SFY Cmmn Stock-ESOP Holding               1,199 I ESOP Plan
Swift Energy Common Stock 11/28/2006   M   5,200 A $ 25.18 103,596 D  
Swift Energy Common Stock 11/28/2006   M   4,000 A $ 16.96 107,596 D  
Swift Energy Common Stock 11/28/2006   M   6,516 A $ 35.04 114,112 D  
Swift Energy Common Stock 11/28/2006   M   49,999 A $ 30.47 164,111 D  
Swift Energy Common Stock 11/28/2006   M   8,000 A $ 13.84 172,111 D  
Swift Energy Common Stock 11/28/2006   M   7,024 A $ 28.97 179,135 D  
Swift Energy Common Stock 11/28/2006   M   3,296 A $ 28.97 182,431 D  
Swift Energy Common Stock 11/28/2006   M   1,829 A $ 28.97 184,260 D  
Swift Energy Common Stock 11/28/2006   M   7,793 A $ 28.97 192,053 D  
Swift Energy Common Stock 11/28/2006   M   343 A $ 28.97 192,396 D  
Swift Energy Common Stock 11/28/2006   M   1,183 A $ 28.97 193,579 D  
Swift Energy Common Stock 11/28/2006   F(7)   52,391 D $ 51.21 141,188 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option $ 51.21 11/28/2006   A(1)   2,556   11/28/2007 11/08/2014 Swift Energy Common Stock 2,556 $ 0 2,556 D  
Stock Option $ 51.21 11/28/2006   A(2)   5,297   11/28/2007 02/04/2012 Swift Energy Common Stock 5,297 $ 0 5,297 D  
Stock Option $ 51.21 11/28/2006   A(3)   4,458   11/28/2007 02/20/2011 Swift Energy Common Stock 4,458 $ 0 4,458 D  
Stock Option $ 51.21 11/28/2006   A(4)   29,749   11/28/2007 05/08/2011 Swift Energy Common Stock 29,749 $ 0 29,749 D  
Stock Option $ 51.21 11/28/2006   A(5)   2,162   11/28/2007 11/04/2013 Swift Energy Common Stock 2,162 $ 0 2,162 D  
Stock Option $ 51.21 11/28/2006   A(6)   8,169   11/28/2007 11/28/2008 Swift Energy Common Stock 8,169 $ 0 8,169 D  
SQ01 Plan grt 11/8/2004 NQ $ 25.18 11/28/2006   M     5,200 11/08/2005 11/08/2014 Swift Energy Common Stock 5,200 $ 0 15,600 D  
SQ01 Plan grt 2/4/2002 $ 16.96 11/28/2006   M     4,000 02/04/2003 02/04/2012 Swift Energy Common Stock 4,000 $ 0 4,002 D  
SQ01 Plan grt 2/20/2001 ISO $ 35.04 11/28/2006   M     6,516 02/20/2002 02/20/2011 Swift Energy Common Stock 6,516 $ 0 647 D  
SQ01 Plan grt 5/8/2001 NQ $ 30.47 11/28/2006   M     49,999 05/08/2002 05/08/2011 Swift Energy Common Stock 49,999 $ 0 1 D  
SQ01 Plan grt 11/4/2003 NQ $ 13.84 11/28/2006   M     8,000 11/04/2004 11/04/2013 Swift Energy Common Stock 8,000 $ 0 16,000 D  
SQ01 plan grt 4/4/2005 NQ exp 2/4/12 $ 28.97 11/28/2006   M     7,024 04/04/2006 02/04/2012 Swift Energy Common Stock 7,024 $ 0 0 D  
SQ90 plan grt 4/4/2005 NQ exp 4/4/07 $ 28.97 11/28/2006   M     3,296 04/04/2006 04/04/2007 Swift Energy Common Stock 3,296 $ 0 1,829 D  
SQ90 plan grt 4/4/2005 NQ exp 4/4/07 $ 28.97 11/28/2006   M     1,829 04/04/2006 04/04/2007 Swift Energy Common Stock 1,829 $ 0 0 D  
SQ90 plan grt 4/4/2005 NQ exp 11/3/07 $ 28.97 11/28/2006   M     7,793 04/04/2006 11/03/2007 Swift Energy Common Stock 7,793 $ 0 1,526 D  
SQ90 plan grt 4/4/2005 NQ exp 11/3/07 $ 28.97 11/28/2006   M     343 04/04/2006 11/03/2007 Swift Energy Common Stock 343 $ 0 1,183 D  
SQ90 plan grt 4/4/2005 NQ exp 11/3/07 $ 28.97 11/28/2006   M     1,183 04/04/2006 11/03/2007 Swift Energy Common Stock 1,183 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SWIFT TERRY E
16825 NORTHCHASE DRIVE, SUITE 400
HOUSTON, TX 77060		       COB & CEO  

Signatures

 Terry E Swift   11/30/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Grant of Reload Option pursuant to Plan.
(2) Grant of Reload Option pursuant to Plan.
(3) Grant of Reload Option pursuant to Plan.
(4) Grant of Reload Option pursuant to Plan.
(5) Grant of Reload Option pursuant to Plan.
(6) Grant of Reload Option pursuant to Plan.
(7) Payment of exercise price by delivery of 52391 shares of issuer's common stock at $51.21 per share, the closing price of issuer stock on 11/28/2006.

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