Item 1.01. Entry into a Material Definitive Agreement.
On October 31, 2012, Swift Energy Company and its wholly-owned subsidiary, Swift Energy Operating, LLC (collectively referred to herein as "Swift Energy" or the "Company"), entered into the Third Amendment to the Second Amended and Restated Credit Agreement dated as of September 21, 2010, as amended by the First Amendment and Consent dated as of May 12, 2011, and the Second Amendment dated as of October 2, 2012, with JPMorgan Chase Bank, N.A., as Administrative Agent, and institutions named therein as lenders (the "Amendment"). The Amendment increases the Company's borrowing base from $330 million to $450 million, and Swift Energy elected to increase its commitment amount from $300 million to $450 million. Additionally, the Amendment extended the credit facility's maturity from May 12, 2016 to November 1, 2017. Lastly, pricing for the Commitment Fee associated with the unfunded portion of the borrowing base was also amended to be set at 37.5 basis points for Borrowing Base Usage of less than 50 percent. The remainder of the pricing grid did not change.
The credit facility provides liquidity to the Company to use to finance the exploration, development and/or acquisitions of oil and gas properties, as required, and for any other corporate purpose not prohibited under the Credit Agreement. This description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the complete text of such agreement, a copy of which is filed as Exhibit 10.1 to this current report on Form 8-K and is incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth in Item 1.01 above is hereby incorporated by reference into this Item 2.03.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.

Exhibit Number Description 10.1 Third Amendment to Second Amended and Restated Credit Agreement dated October 31, 2012, among Swift Energy Company, Swift Operating, LLC, JPMorgan Chase Bank, N.A., as Administrative Agent, and the lenders party thereto.

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