EXHIBIT 12

                              SWIFT ENERGY COMPANY
                       RATIO OF EARNINGS TO FIXED CHARGES





                                 Nine Months Ended                              Year Ended December 31,
                                September 30, 2003        2002           2001(1)           2000           1999          1998(2)
                                ------------------        ----           -------           ----           ----          -------
                                                                                                    

Gross G&A                          22,053,045         26,074,408       25,974,568      23,793,995      20,518,843     21,010,960
Net G&A                            10,564,959         10,564,849        8,186,654       5,585,487       4,497,400      3,853,812
Interest Expense, Net              20,107,188         23,274,969       12,627,022      15,968,405      14,442,815      8,752,195
Rent Expense                        1,610,803          1,923,451        1,322,618       1,255,474       1,272,497      1,117,351
Net Income Before Taxes and
   Cumulative Effect of
   Change in Accounting
   Principle                       38,450,916         18,408,289      (34,192,333)     93,079,346      29,736,151    (73,391,581)
Capitalized Interest                5,156,559          6,973,480        6,256,222       5,043,206       4,142,098      3,849,665
Depleted Capitalized Interest         386,877            215,433          280,929         307,249         323,124        292,267

       CALCULATED DATA

Unallocated G&A (%)                     47.91%             40.52%           31.52%          23.47%          21.92%         18.34%
Non-Capital Rent Expense              771,688            779,345          416,862         294,714         278,911        204,944
1/3 Non Capital Rent Expense          257,229            259,782          138,954          98,238          92,970         68,315
Fixed Charges                      25,520,976         30,508,231       19,022,198      21,109,849      18,677,883     12,670,175
Earnings                           59,202,211         42,158,473      (21,145,428)    109,453,238      44,595,061    (64,278,804)
Ratio of Earnings to Fixed
Charges                                  2.32x               1.38x             --             5.18x           2.39x           --



     For purposes of calculating  the ratio of earnings to fixed charges,  fixed
charges  include  interest  expense  net (which  includes  amortization  of debt
issuance  costs  and  discounts),  capitalized  interest  and  that  portion  of
non-capitalized rental expense deemed to be the equivalent of interest. Earnings
represent  income  before  income  taxes  and  cumulative  effect  of  change in
accounting  principle  and  from  continuing  operations  before  fixed  charges
(excluding  capitalized  interest,  net of depletion).  Due to the $98.9 million
non-cash charge incurred in the fourth quarter of 2001 caused by a write-down in
the carrying value of oil and gas properties, 2001 earnings were insufficient by
$40.2  million to cover  fixed  charges  in this  period.  If the $98.9  million
non-cash  charge is excluded,  the ratio of earnings to fixed charges would have
been 4.09 for 2001.  Due to the $90.8 million  non-cash  charge  incurred in the
third  quarter of 1998 caused by a write-down  in the carrying  value of oil and
gas properties,  1998 earnings were insufficient by $76.9 million to cover fixed
charges in this period.  If the $90.8 million  non-cash charge is excluded,  the
ratio of earnings to fixed charges would have been for 2.09 for 1998.