<PAGE>

                                    FORM 10-Q


                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


    [ X ]         QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                              THE SECURITIES EXCHANGE ACT OF 1934

                For the quarterly period ended September 30, 1998

                                       OR

    [   ]         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
                              THE SECURITIES EXCHANGE ACT OF 1934

  For the transition period from _____________________ to _____________________

                       Commission File number: 33-37983-12


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
             (Exact name of registrant as specified in its charter)

<TABLE>
<S>                                           <C>       
                  Texas                                76-0375254
(State or other jurisdiction of organization) (I.R.S. Employer Identification No.)
</TABLE>


                        16825 Northchase Drive, Suite 400
                              Houston, Texas 77060
                    (Address of principal executive offices)
                                   (Zip Code)

                                  (281)874-2700
              (Registrant's telephone number, including area code)

                                      None
              (Former name, former address and former fiscal year,
                          if changed since last report)


Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  Registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

Yes  X      No
   ----




<PAGE>


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.

                                      INDEX



<TABLE>
<CAPTION>
PART I.    FINANCIAL INFORMATION                                                           PAGE
      <S>                                                                                   <C>
      ITEM 1.    Financial Statements

            Balance Sheets

                - September 30, 1998 and December 31, 1997                                   3

            Statements of Operations

                - Three month and nine month periods ended September 30, 1998 and 1997       4

            Statements of Cash Flows

                - Nine month periods ended September 30, 1998 and 1997                       5

            Notes to Financial Statements                                                    6

      ITEM 2.    Management's Discussion and Analysis of Financial
                     Condition and Results of Operations                                     9

PART II.    OTHER INFORMATION                                                               11


SIGNATURES                                                                                  12
</TABLE>



<PAGE>


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
                                 BALANCE SHEETS



<TABLE>
<CAPTION>
                                                                                         September 30,        December 31,
                                                                                             1998                 1997
                                                                                       ---------------      ---------------
                                                                                         (Unaudited)
         <S>                                                                           <C>                  <C>            
         ASSETS:

         Current Assets:
              Cash and cash equivalents                                                $      432,871       $      478,767 
              Oil and gas sales receivable                                                    479,225              725,555 
              Other                                                                            22,800               13,064 
                                                                                       ---------------     ----------------
                  Total Current Assets                                                        934,896            1,217,386 
                                                                                       ---------------     ----------------

         Gas Imbalance Receivable                                                             355,424              385,298 
                                                                                       ---------------     ----------------

         Oil and Gas Properties, using full cost
              accounting                                                                   12,902,059           13,108,981 
         Less-Accumulated depreciation, depletion
              and amortization                                                            (10,431,736)         (10,087,643)
                                                                                       ---------------     ----------------
                                                                                            2,470,323            3,021,338 
                                                                                       ---------------     ----------------
                                                                                       $    3,760,643       $    4,624,022 
                                                                                       ===============     ================


         LIABILITIES AND PARTNERS' CAPITAL:

         Current Liabilities:
              Accounts Payable                                                         $      175,395       $      206,087 
                                                                                       ---------------     ----------------

         Deferred Revenues                                                                    421,595              469,989 

         Interest Holders' Capital (12,952,294 Interest Holders' SDIs;
                                   $1.00 per SDI)                                           3,151,272            3,878,853 
         General Partners' Capital                                                             12,381               69,093 
                                                                                       ---------------     ----------------
                  Total Partners' Capital                                                   3,163,653            3,947,946 
                                                                                       ---------------     ----------------
                                                                                       $    3,760,643       $    4,624,022 
                                                                                       ===============     ================
</TABLE>


                 See accompanying notes to financial statements.

                                        3


<PAGE>


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                     Three Months Ended                   Nine Months Ended
                                                        September 30,                       September 30,
                                              ---------------------------------  ---------------------------------
                                                   1998              1997               1998             1997
                                              ----------------  ---------------  ---------------   ---------------
<S>                                           <C>               <C>              <C>               <C>             
REVENUES:
   Oil and gas sales                          $       260,808   $       457,740  $       849,212   $     1,607,266 
   Interest income                                      7,665             4,233           21,754            14,773 
   Other                                                2,632             3,720            9,169            13,926 
                                              ---------------   ---------------  ---------------   --------------- 
                                                      271,105           465,693          880,135         1,635,965 
                                              ---------------   ---------------  ---------------   --------------- 

COSTS AND EXPENSES:
   Lease operating                                    113,125           144,835          342,407           433,082 
   Production taxes                                    16,639            29,624           52,119            94,514 
   Depreciation, depletion
      and amortization                                110,387           149,234          344,093           544,820 
   General and administrative                          43,710            51,388          148,466           175,977 
                                              ---------------   ---------------  ---------------   --------------- 
                                                      283,861           375,081          887,085         1,248,393 
                                              ---------------   ---------------  ---------------   --------------- 
NET INCOME (LOSS)                             $       (12,756)  $        90,612  $        (6,950)  $       387,572 
                                              ===============   ===============  ===============   ===============



Limited Partners' net income (loss)
   per unit                                   $            --   $           .01  $            --   $           .03 
                                              ===============   ===============  ===============   ===============
</TABLE>


                 See accompanying notes to financial statements.

                                        4


<PAGE>


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                           Nine Months Ended
                                                                                             September 30,
                                                                               ---------------------------------------- 
                                                                                     1998                     1997
                                                                               ---------------          --------------- 
<S>                                                                             <C>                     <C>             
CASH FLOWS FROM OPERATING ACTIVITIES:
    Income (Loss)                                                               $       (6,950)         $       387,572 
    Adjustments to reconcile income (loss) to
      net cash provided by operations:
      Depreciation, depletion and amortization                                         344,093                  544,820 
      Change in gas imbalance receivable
          and deferred revenues                                                        (18,520)                 (12,517)
      Change in assets and liabilities:
        (Increase) decrease in oil and gas sales receivable                            246,330                   72,476 
        (Increase) decrease in other current assets                                     (9,736)                  (5,539)
        Increase (decrease) in accounts payable                                        (30,692)                 (13,703)
                                                                               ---------------          --------------- 
               Net cash provided by (used in) operating activities                     524,525                  973,109 
                                                                               ---------------          --------------- 
CASH FLOWS FROM INVESTING ACTIVITIES:
    Additions to oil and gas properties                                                (58,591)                 (62,554)
    Proceeds from sales of oil and gas properties                                      265,513                       -- 
                                                                               ---------------          --------------- 
               Net cash provided by (used in) investing activities                     206,922                  (62,554)
                                                                               ---------------          --------------- 
CASH FLOWS FROM FINANCING ACTIVITIES:
    Cash distributions to partners                                                    (777,343)              (1,158,740)
                                                                               ---------------          --------------- 
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                   (45,896)                (248,185)
                                                                               ---------------          --------------- 
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                       478,767                  526,139 
                                                                               ---------------          --------------- 
CASH AND CASH EQUIVALENTS AT END OF PERIOD                                      $      432,871          $       277,954 
                                                                               ===============          =============== 
</TABLE>


                 See accompanying notes to financial statements.

                                        5


<PAGE>


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
                          NOTES TO FINANCIAL STATEMENTS
                                   (UNAUDITED)

(1)  General Information -

                  The financial statements included herein have been prepared by
        the  Partnership  and are  unaudited  except  for the  balance  sheet at
        December  31,  1997  which has been  taken  from the  audited  financial
        statements at that date. The financial  statements reflect  adjustments,
        all of which  were of a  normal  recurring  nature,  which  are,  in the
        opinion  of  the  managing   general   partner   necessary  for  a  fair
        presentation.  Certain  information  and footnote  disclosures  normally
        included in financial  statements  prepared in accordance with generally
        accepted  accounting  principles have been omitted pursuant to the rules
        and regulations of the Securities and Exchange Commission  ("SEC").  The
        Partnership  believes adequate disclosure is provided by the information
        presented.  The financial  statements should be read in conjunction with
        the audited  financial  statements  and the notes included in the latest
        Form 10-K.

(2) Organization and Terms of Partnership Agreement -

                  Swift Energy Operating Partners 1992-C,  Ltd., a Texas limited
        partnership ("the  Partnership"),  was formed on September 30, 1992, for
        the purpose of purchasing and operating producing oil and gas properties
        within the  continental  United States and Canada.  Swift Energy Company
        ("Swift"),   a  Texas  corporation,   and  VJM  Corporation  ("VJM"),  a
        California  corporation,  serve as Managing  General Partner and Special
        General  Partner  of the  Partnership,  respectively.  The sole  limited
        partner  of the  Partnership  is Swift  Depositary  Company,  which  has
        assigned all of its  beneficial  (but not of record) rights and interest
        as  limited  partner  to the  investors  in the  Partnership  ("Interest
        Holders"), in the form of Swift Depositary Interests ("SDIs").

                  The Managing  General  Partner has paid or will pay out of its
        own corporate funds (as a capital  contribution to the  Partnership) all
        selling commissions,  offering expenses,  printing, legal and accounting
        fees and other  formation costs incurred in connection with the offering
        of SDIs and the  formation  of the  Partnership,  for which the Managing
        General  Partner  will  receive  an  interest  in  continuing  costs and
        revenues of the Partnership. The 916 interest holders made total capital
        contributions of $12,952,294.

                  Generally,  all continuing costs (including development costs,
        operating costs,  general and  administrative  reimbursements and direct
        expenses) and revenues are allocated 85 percent to the interest  holders
        and 15 percent to the general  partners.  After  partnership  payout, as
        defined in the Partnership Agreement, continuing costs and revenues will
        be shared 75  percent  by the  Interest  Holders,  and 25 percent by the
        general partners.

(3)  Significant Accounting Policies -

      Use of Estimates --

                  The  preparation  of financial  statements in conformity  with
        generally accepted  accounting  principles  requires  management to make
        estimates and assumptions that affect the reported amounts of assets and
        liabilities  at the date of the  financial  statements  and the reported
        amounts of revenues and expenses during the reporting period.
        Actual results could differ from estimates.

     Oil and Gas Properties --

                  The Partnership accounts for its ownership interest in oil and
        gas properties using the proportionate consolidation method, whereby the
        Partnership's  share of assets,  liabilities,  revenues  and expenses is
        included in the appropriate classification in the financial statement.

                  For financial  reporting purposes the Partnership  follows the
        "full-cost"  method of accounting for oil and gas property costs.  Under
        this  method of  accounting,  all  productive  and  nonproductive  costs
        incurred in the  acquisition and development of oil and gas reserves are
        capitalized.  Such costs  include  lease  acquisitions,  geological  and
        geophysical  services,  drilling,  completion,   equipment  and  certain
        general and  administrative  costs directly  associated with acquisition
        and development activities.  General and administrative costs related to
        production and general overhead are expensed as incurred. No general and
        administrative  costs  were  capitalized  during the nine  months  ended
        September 30, 1998 and 1997.

                                       6

<PAGE>


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (UNAUDITED)


                  Future  development,   site  restoration,   dismantlement  and
        abandonment   costs,   net  of  salvage  values,   are  estimated  on  a
        property-by-property  basis based on current economic conditions and are
        amortized  to  expense  as the  Partnership's  capitalized  oil  and gas
        property costs are amortized.

                  The  unamortized  cost of oil and gas properties is limited to
        the "ceiling  limitation"  (calculated  separately for the  Partnership,
        limited  partners and general  partners).  The "ceiling  limitation"  is
        calculated on a quarterly basis and represents the estimated  future net
        revenues from proved properties using current prices,  discounted at ten
        percent,  and the lower of cost or fair  value of  unproved  properties.
        Proceeds  from the sale or  disposition  of oil and gas  properties  are
        treated as a reduction  of oil and gas  property  costs with no gains or
        losses being recognized except in significant transactions.

                  The  Partnership  computes  the  provision  for  depreciation,
        depletion   and   amortization   of  oil  and  gas   properties  on  the
        units-of-production   method.   Under  this  method,  the  provision  is
        calculated  by  multiplying  the total  unamortized  cost of oil and gas
        properties,    including   future    development,    site   restoration,
        dismantlement  and abandonment  costs, by an overall  amortization  rate
        that  is  determined  by  dividing  the  physical  units  of oil and gas
        produced  during the period by the total  estimated  units of proved oil
        and gas reserves at the beginning of the period.

                  The calculation of the "ceiling  limitation" and the provision
        for  depreciation,  depletion and  amortization is based on estimates of
        proved reserves. There are numerous uncertainties inherent in estimating
        quantities  of proved  reserves  and in  projecting  the future rates of
        production,  timing and plan of development. The accuracy of any reserve
        estimate  is a  function  of  the  quality  of  available  data  and  of
        engineering  and  geological  interpretation  and  judgment.  Results of
        drilling,  testing and production subsequent to the date of the estimate
        may justify revision of such estimate.  Accordingly,  reserve  estimates
        are  often  different  from  the  quantities  of oil  and gas  that  are
        ultimately recovered.

(4)  Related-Party Transactions -

                  Effective  September 30, 1992, the Partnership  entered into a
        Net  Profits  and  Overriding   Royalty   Interest   Agreement   ("NP/OR
        Agreement") with Swift Energy Pension Partners  1992-C,  Ltd.  ("Pension
        Partnership"),  an  affiliated  partnership  managed  by  Swift  for the
        purpose of acquiring  nonoperating  interests  in producing  oil and gas
        properties. Under the terms of the NP/OR Agreement, the Partnership will
        convey  to  the  Pension  Partnership  a  nonoperating  interest  in the
        aggregate net profits (i.e., oil and gas sales net of related  operating
        costs) of the  properties  acquired  equal to the Pension  Partnership's
        proportionate share of the property acquisition costs.

(5)  Gas Imbalances -

                  The Partnership  recognizes its ownership  interest in natural
        gas  production as revenue.  Actual  production  quantities  sold may be
        different than the  Partnership's  ownership share in a given period. If
        the  Partnership's  sales exceed its ownership share of production,  the
        differences are recorded as deferred revenue. Gas balancing  receivables
        are  recorded  when the  Partnership's  ownership  share  of  production
        exceeds sales.

(6)  Vulnerability Due to Certain Concentrations -

                  The  Partnership's  revenues are primarily the result of sales
        of its oil and natural gas production.  Market prices of oil and natural
        gas may fluctuate and adversely affect operating results.

                  In the normal  course of  business,  the  Partnership  extends
        credit,  primarily in the form of monthly oil and gas sales receivables,
        to various  companies  in the oil and gas  industry  which  results in a
        concentration  of credit risk. This  concentration of credit risk may be
        affected by changes in economic or other  conditions and may accordingly
        impact the  Partnership's  overall  credit risk.  However,  the Managing
        General  Partner  believes  that  the  risk is  mitigated  by the  size,
        reputation, and nature of the companies to which the Partnership extends
        credit.  In  addition,   the  Partnership  generally  does  not  require
        collateral or other security to support customer receivables.

                                       7

<PAGE>

                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (UNAUDITED)


(7)  Fair Value of Financial Instruments -

                  The Partnership's  financial  instruments  consist of cash and
        cash equivalents and short-term  receivables and payables.  The carrying
        amounts  approximate  fair value due to the highly  liquid nature of the
        short-term instruments.

(8)  Year 2000 - 

                  The  Year  2000  issue  results  from  computer  programs  and
        embedded computer chips with date fields that cannot distinguish between
        the year  1900 and 2000.  The  Managing  General  Partner  is  currently
        implementing  the steps necessary to make its operations and the related
        operations of the Partnership  Year 2000 compliant.  These steps include
        upgrading,  testing and certifying  computer systems and field operation
        services  and  obtaining  Year 2000  compliance  certification  from all
        important business suppliers. The Managing General Partner formed a task
        force  during the year to address the Year 2000 issue to ensure that all
        of its business systems are Year 2000 compliant by mid-1999 with mission
        critical systems projected to be compliant by the end of 1998.

                  The Managing  General  Partner's  business  systems are almost
        entirely  comprised of  off-the-shelf  software.  Most of the  necessary
        changes in computer  instructional  code can be made by  upgrading  this
        software.  The Managing  General  Partner is currently in the process of
        either upgrading the off-the-shelf  software or receiving  certification
        as to Year 2000  compliance from vendors or third party  consultants.  A
        testing  phase will be conducted as the software is updated or certified
        and is expected to be complete by mid-1999.

                  The  Managing  General  Partner  does not  believe  that costs
        incurred  to address  the Year 2000 issue with  respect to its  business
        systems  will have a  material  effect on the  Partnership's  results of
        operations,  liquidity and financial condition. The estimated total cost
        to the Managing General Partner to address Year 2000 issues is projected
        to be less than $150,000, most of which will be spent during the testing
        phase in the next nine months.  The Partnership's  share of this cost is
        expected to be insignificant.

                  The  failure  to correct a material  Year 2000  problem  could
        result in an  interruption,  or a failure of,  certain  normal  business
        activities or  operations.  Based on  activities  to date,  the Managing
        General  Partner  believes that it will be able to resolve any Year 2000
        problems  concerning  its  financial  and  administrative  systems.  The
        Managing  General Partner is uncertain,  however,  as to the impact that
        the Year  2000  issue  will  have on field  operations  or as to how the
        Managing General Partner or the Partnership will be indirectly  affected
        by the impact that the Year 2000 issue will have on companies with which
        it conducts  business.  For example,  the pipeline operators to whom the
        Managing General Partner sells the Partnership's natural gas, as well as
        other customers and suppliers, could be prone to Year 2000 problems that
        could not be assessed or detected by the Managing General  Partner.  The
        Managing  General  Partner  plans  to  contact  its  major   purchasers,
        customers,  suppliers,  financial  institutions  and others with whom it
        conducts  business to determine whether they will be Year 2000 compliant
        and  whether  they will be able to resolve  in a timely  manner any Year
        2000  problems.  Based upon these  responses and any problems that arise
        during the testing phase,  contingency plans or back-up systems would be
        determined and addressed.


                                       8


<PAGE>


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                       CONDITION AND RESULTS OF OPERATIONS


GENERAL

      The  Partnership  was formed for the purpose of investing in producing oil
and gas properties  located within the continental  United States and Canada. In
order to  accomplish  this,  the  Partnership  goes  through  two  distinct  yet
overlapping phases with respect to its liquidity and result of operations.  When
the Partnership is formed, it commences its "acquisition"  phase, with all funds
placed in short-term  investments until required for such property acquisitions.
The interest  earned on these  pre-acquisition  investments  becomes the primary
cash flow source for initial Interest Holder  distributions.  As the Partnership
acquires  producing  properties,  net cash from operations becomes available for
distribution,  along with the investment  income.  After  partnership funds have
been expended on producing oil and gas properties,  the  Partnership  enters its
"operations" phase. During this phase, oil and gas sales generate  substantially
all revenues,  and distributions to Interest Holders reflect those revenues less
all associated  partnership  expenses.  The Partnership may also derive proceeds
from  the  sale of  acquired  oil  and gas  properties,  when  the  sale of such
properties is economically appropriate or preferable to continued operation.

LIQUIDITY AND CAPITAL RESOURCES

      Oil and gas reserves are depleting  assets and therefore often  experience
significant  production  declines each year from the date of acquisition through
the end of the life of the  property.  The primary  source of  liquidity  to the
Partnership comes almost entirely from the income generated from the sale of oil
and gas produced from ownership  interests in oil and gas  properties.  Net cash
provided by  operating  activities  totaled  $524,525  and $973,109 for the nine
months ended September 30, 1998 and 1997, respectively. This source of liquidity
and the related  results of  operations,  and in turn cash  distributions,  will
decline in future periods as the oil and gas produced from these properties also
declines while production and general and administrative costs remain relatively
stable making it unlikely that the  Partnership  will hold the properties  until
they are fully depleted,  but will likely liquidate when a substantial  majority
of the reserves  have been  produced.  Cash  provided by property  sale proceeds
totaled  $265,513 for the nine months ended  September 30, 1998. The Partnership
has  expended  all of the  partners'  net  commitments  available  for  property
acquisitions and development by acquiring producing oil and gas properties.  The
partnership invests primarily in proved producing properties with nominal levels
of future costs of development for proven but undeveloped reserves.  Significant
purchases  of  additional  reserves  or  extensive  drilling  activity  are  not
anticipated.  Cash  distributions  totaled  $777,343 and $1,158,740 for the nine
months ended September 30, 1998 and 1997, respectively.

      The  Partnership  does  not  allow  for  additional  assessments  from the
partners or interest holders to fund capital  requirements.  However,  funds are
available  from  partnership  revenues,  borrowings or proceeds from the sale of
partnership  property.  The Managing  General  Partner  believes  that the funds
currently  available to the Partnership will be adequate to meet any anticipated
capital requirements.

RESULTS OF OPERATIONS

      The  following  analysis  explains  changes  in the  revenue  and  expense
categories  for the quarter  ended  September  30, 1998  (current  quarter) when
compared to the quarter ended September 30, 1997  (corresponding  quarter),  and
for the nine months ended September 30, 1998 (current period),  when compared to
the nine months ended September 30, 1997 (corresponding period).

Three Months Ended September 30, 1998 and 1997

      Oil and gas sales declined  $196,932 or 43 percent in the third quarter of
1998 when  compared  to the  corresponding  quarter  in 1997,  primarily  due to
decreased gas and oil prices.  A decline in gas prices of 20 percent or $.51/MCF
and in oil  prices  of 41  percent  or  $6.02/BBL  had a  significant  impact on
partnership  performance.  Also, current quarter gas and oil production declined
23 percent and 27 percent,  respectively,  when  compared to third  quarter 1997
production   volumes,   further   contributing   to  decreased   revenues.   The
partnership's  sale of several  properties in the fourth quarter of 1997 and the
first  quarter  of 1998 had an impact on 1998  partnership  production  volumes.
Corresponding  operating  expenses  declined 22 percent in the third  quarter of
1998 when compared to the third quarter of 1997.

      Associated  depreciation  expense  decreased 26 percent or $38,847 in 1998
compared  to third  quarter  1997,  also  related to the  decline in  production
volumes.

                                       9

<PAGE>


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                 CONDITION AND RESULTS OF OPERATIONS (CONTINUED)


Nine Months Ended September 30, 1998 and 1997

      Oil and gas sales declined $758,054 or 47 percent in the first nine months
of 1998 when  compared to the  corresponding  period in 1997,  primarily  due to
decreased gas and oil  production.  Gas production  decreased 33 percent and oil
production  declined  32  percent.  The  decrease  in  production  volumes had a
significant impact on partnership performance. The partnership's sale of several
properties  in the fourth  quarter of 1997 and the first  quarter of 1998 had an
impact on 1998 partnership  production volumes. Also, current period oil and gas
prices   declined  42  percent  or   $7.09/BBL   and  10  percent  or  $.24/MCF,
respectively,   further   contributing  to  decreased  revenues.   Corresponding
operating  expenses for the first nine months of 1998  decreased 21 percent when
compared to the same period in 1997.

      Associated  depreciation  expense decreased 37 percent or $200,727 in 1998
compared  to the first  nine  months of 1997,  also  related  to the  decline in
production volumes.

      During 1998,  partnership  revenues  and costs will be shared  between the
Interest Holders and general partners in an 85:15 ratio.


                                       10


<PAGE>


                  SWIFT ENERGY OPERATING PARTNERS 1992-C, LTD.
                           PART II - OTHER INFORMATION




ITEM 5.    OTHER INFORMATION


                                     -NONE-


                                       11

<PAGE>


                                   SIGNATURES



Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this report to be signed on its
behalf by the undersigned thereunto duly authorized.


                                        SWIFT ENERGY OPERATING
                                        PARTNERS 1992-C, LTD.
                                        (Registrant)

                             By:        SWIFT ENERGY COMPANY
                                        Managing General Partner


Date:  November 4, 1998      By:        /s/ John R. Alden
       ----------------                 ----------------------------------------
                                        John R. Alden
                                        Senior Vice President, Secretary
                                        and Principal Financial Officer

Date:  November 4, 1998      By:        /s/ Alton D. Heckaman, Jr.
       ----------------                 ----------------------------------------
                                        Alton D. Heckaman, Jr.
                                        Vice President, Controller
                                        and Principal Accounting Officer

                                       12