<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, 1999

                                       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 33-11773-09


                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
             (Exact name of registrant as specified in its charter)

<TABLE>
<S>                                           <C>
                  Texas                                     76-0279533
(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 INCOME PARTNERS 1989-B, LTD.

                                      INDEX



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

            Balance Sheets

                - September 30, 1999 and December 31, 1998                                     3

            Statements of Operations

                - Three month and nine month periods ended September 30, 1999 and 1998         4

            Statements of Cash Flows

                - Nine month periods ended September 30, 1999 and 1998                         5

            Notes to Financial Statements                                                      6

      ITEM 2.    Management's Discussion and Analysis of Financial
                     Condition and Results of Operations                                      10

PART II.    OTHER INFORMATION                                                                 12


SIGNATURES                                                                                    13
</TABLE>



<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
                                 BALANCE SHEETS



<TABLE>
<CAPTION>
                                                                                September 30,          December 31,
                                                                                    1999                  1998
                                                                               ---------------       ---------------
                                                                                (Unaudited)
<S>                                                                          <C>                   <C>
ASSETS:

Current Assets:
     Cash and cash equivalents                                               $        424,384      $          1,311
     Oil and gas sales receivable                                                     247,431               191,690
                                                                               ---------------       ---------------
          Total Current Assets                                                        671,815               193,001
                                                                               ---------------       ---------------

Gas Imbalance Receivable                                                               31,889                64,023
                                                                               ---------------       ---------------

Oil and Gas Properties, using full cost
     accounting                                                                     8,217,577             8,671,082
Less-Accumulated depreciation, depletion
     and amortization                                                              (6,942,988)           (6,737,489)
                                                                               ---------------       ---------------
                                                                                    1,274,589             1,933,593
                                                                               ===============       ===============
                                                                             $      1,978,293      $      2,190,617
                                                                               ===============       ===============


LIABILITIES AND PARTNERS' CAPITAL:

Current Liabilities:
     Accounts Payable                                                        $         81,093      $        158,562
                                                                               ---------------       ---------------

Deferred Revenues                                                                      23,895                52,630

Limited Partners' Capital (83,295 Limited Partnership
                          Units; $100 per unit)                                     1,839,434             1,957,698

General Partners' Capital                                                              33,871                21,727
                                                                               ---------------       ---------------
          Total Partners' Capital                                                   1,873,305             1,979,425
                                                                               ===============       ===============
                                                                             $      1,978,293      $      2,190,617
                                                                               ===============       ===============
</TABLE>


                 See accompanying notes to financial statements.

                                        3


<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
                            STATEMENTS OF OPERATIONS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                    Three Months Ended                       Nine Months Ended
                                                      September 30,                            September 30,
                                             ---------------------------------        ---------------------------------
                                                 1999               1998                  1999               1998
                                             --------------     --------------        --------------     --------------
<S>                                       <C>                 <C>                  <C>                <C>
REVENUES:
     Oil and gas sales                    $        253,606    $       184,871      $        714,224   $        704,668
     Interest income                                 5,605                395                 7,064              4,976
     Other                                              --              1,101                    --              4,178
                                             --------------     --------------        --------------     --------------
                                                   259,211            186,367               721,288            713,822
                                             --------------     --------------        --------------     --------------


COSTS AND EXPENSES:
     Lease operating                                67,181             79,579               194,253            247,605
     Production taxes                               45,744              9,269                65,290             37,453
     Depreciation, depletion
          and amortization
             Normal                                 49,755             88,573               205,499            299,820
             Additonal                                  --            477,597                    --            477,597
     General and administrative                     30,138             26,979               110,347             97,734
                                             --------------     --------------        --------------     --------------
                                                   192,818            681,997               575,389          1,160,209
                                             ==============     ==============        ==============     ==============
NET INCOME (LOSS)                         $         66,393    $      (495,630)     $        145,899   $       (446,387)
                                             ==============     ==============        ==============     ==============



Limited Partners' net income (loss)
     per unit                             $           0.60    $         (5.95)     $           1.16   $          (5.36)
                                             ==============     ==============        ==============     ==============
</TABLE>


                 See accompanying notes to financial statements.

                                        4


<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                                            Nine Months Ended
                                                                                              September 30,
                                                                                   -------------------------------------
                                                                                        1999                  1998
                                                                                   ---------------       ---------------
<S>                                                                              <C>                   <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
     Income (loss)                                                               $        145,899      $       (446,387)
     Adjustments to reconcile income (loss) to
          net cash provided by operations:
          Depreciation, depletion and amortization                                        205,499               777,417
          Change in gas imbalance receivable
               and deferred revenues                                                        3,399                 4,306
          Change in assets and liabilities:
               (Increase) decrease in oil and gas sales receivable                        (55,741)              192,090
               Increase (decrease) in accounts payable                                    (77,469)               (7,331)
                                                                                   ---------------       ---------------
          Net cash provided by (used in) operating activities                             221,587               520,095
                                                                                   ---------------       ---------------

CASH FLOWS FROM INVESTING ACTIVITIES:
     Additions to oil and gas properties                                                  (21,817)             (145,965)
     Proceeds from sales of oil and gas properties                                        475,322                    --
                                                                                   ---------------       ---------------
          Net cash provided by (used in) investing activities                             453,505              (145,965)
                                                                                   ---------------       ---------------

CASH FLOWS FROM FINANCING ACTIVITIES:
     Cash Distributions to partners                                                      (252,019)             (763,664)
                                                                                   ---------------       ---------------
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                      423,073              (389,534)
                                                                                   ---------------       ---------------
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                            1,311               390,534
                                                                                   ===============       ===============
CASH AND CASH EQUIVALENTS AT END OF PERIOD                                       $        424,384      $          1,000
                                                                                   ===============       ===============
</TABLE>


                 See accompanying notes to financial statements.

                                        5


<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, 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,  1998  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  Income  Partners  1989-B,  Ltd., a Texas limited
        partnership  ("the  Partnership"),  was formed on June 30, 1989, for the
        purpose of  purchasing  and operating  producing oil and gas  properties
        within the continental United States. 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  general  partners  are
        required   to   contribute   up  to  1/99th  of  limited   partner   net
        contributions. The 661 limited partners made total capital contributions
        of $8,329,500.

                  Property acquisition costs and the management fee are borne 99
        percent by the limited partners and one percent by the general partners.
        Organization  and  syndication  costs were borne  solely by the  limited
        partners.

                  Generally,  all continuing costs (including development costs,
        operating costs,  general and  administrative  reimbursements and direct
        expenses) and revenues are allocated 90 percent to the limited  partners
        and ten percent to the general partners. If prior to partnership payout,
        however,  the cash  distribution  rate for a  certain  period  equals or
        exceeds  17.5  percent,  then for the  following  calendar  year,  these
        continuing  costs and  revenues  will be  allocated  85  percent  to the
        limited  partners  and  15  percent  to  the  general  partners.   After
        partnership  payout,  continuing  costs and  revenues  will be shared 85
        percent by the limited partners, and 15 percent by the general partners,
        even if the cash  distribution  rate is less than 17.5  percent.  During
        1992 and 1991, the cash distribution rate (as defined in the Partnership
        Agreement)  exceeded  17.5  percent  and  thus,  in 1993 and  1992,  the
        continuing  costs and  revenues  were  shared 85 percent by the  limited
        partners  and 15 percent by the general  partners.  During  1997,  1996,
        1995, 1994 and 1993, the cash  distribution rate fell below 17.5 percent
        and  thus,  in 1997,  1996,  1995 and  1994,  the  continuing  costs and
        revenues  were shared 90 percent by the limited  partners and 10 percent
        by the general partners. Payout occurred in January 1998; therefore, for
        1998  and  each  year  remaining  in the  life of the  partnership,  the
        continuing  costs and revenues  will be shared 85 percent by the limited
        partners and 15 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 Revenues -

                  Oil and gas revenues are reported using the entitlement method
        in which the Partnership  recognizes its interest in oil and natural gas
        production as revenue.


                                       6


<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (UNAUDITED)


     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, 1999 and 1998.

                  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 -

                  An  affiliate  of  the  Special  General  Partner,  as  Dealer
        Manager,  received  $202,238 for managing and overseeing the offering of
        the limited partnership units. A one-time management fee of $208,238 was
        paid to Swift for services performed for the Partnership.

                  Effective  June 30, 1989, the  Partnership  entered into a Net
        Profits and Overriding  Royalty Interest  Agreement ("NP/OR  Agreement")
        with Swift  Energy  Managed  Pension  Assets  Partnership  1989-B,  Ltd.
        ("Pension  Partnership"),  managed by Swift for the purpose of acquiring
        working  interests in producing oil and gas  properties.  Under 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 its  proportionate  share of the property  acquisition
        costs.

                                       7


<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (UNAUDITED)


(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)  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 years 1900 and 2000. The Managing  General  Partner has  implemented
        the steps necessary to make its operations and the related operations of
        the  Partnership  capable  of  addressing  the Year  2000.  These  steps
        included  upgrading,  testing and  certifying  its 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 1998 to address the Year 2000
        issue and prepare its business  systems for the Year 2000.  The Managing
        General Partner has either replaced or updated mission  critical systems
        and has  substantially  completed  testing  and will  continue  remedial
        actions as needed.

                  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 were made by  upgrading  this
         software.  In  addition,  the  Managing  General  Partner has  received
         certification  as to Year 2000  compliance  from vendors or third party
         consultants.


                                       8

<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
                    NOTES TO FINANCIAL STATEMENTS (CONTINUED)
                                   (UNAUDITED)


                  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,  or its 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 was spent during
         the testing phase. 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  failure  of  certain  normal  business
         activities or  operations.  Based on  activities to date,  the Managing
         General  Partner  believes  that it has resolved any Year 2000 problems
         concerning   its   financial   and   administrative   systems.   It  is
         undeterminable  how all the  aspects  of the Year 2000 will  impact the
         Partnership.  The most  reasonably  likely  worst case  scenario  would
         involve a prolonged  disruption  of external  power  sources upon which
         core  equipment  relies,  resulting  in a  substantial  decrease in the
         Partnership's  oil and gas  production  activities.  In  addition,  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
         has contacted its major  purchasers,  customers,  suppliers,  financial
         institutions  and others  with whom it conducts  business to  determine
         whether  they will be able to resolve in a timely  manner any Year 2000
         problems directly affecting the Managing General Partner or Partnership
         and  to  inform  them  of  the  Managing  General  Partner's   internal
         assessment of its Year 2000 review. There can be no assurance that such
         third  parties will not fail to  appropriately  address their Year 2000
         issues or will not themselves  suffer a Year 2000 disruption that could
         have  a  material  adverse  effect  on  the  Partnership's  activities,
         financial  condition or operating  results.  Based upon these responses
         and any problems that arise, contingency plans or back-up systems would
         be determined and addressed.


                                       9


<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, 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.  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 partner 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 partners  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. 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 distributions to
partners are determined quarterly,  based upon net proceeds from sale of oil and
gas production after payment of lease operating  expense,  taxes and development
costs, less general and administrative expenses. In addition, future partnership
cash requirements are taken into account to determine necessary cash reserves.

      Net cash provided by operating  activities  totaled  $221,587 and $520,095
for the nine  months  ended  September  30,  1999 and  1998,  respectively.  The
decrease in cash provided by operating  activities in 1999 is related to changes
in oil and gas sales receivable. Cash provided by property sale proceeds totaled
$475,322  for the nine months  ended  September  30,  1999.  Cash  distributions
totaled  $252,019 and $763,664 for the nine months ended  September 30, 1999 and
1998,  respectively.  In 1999,  cash  distributions  were effected by production
declines from the 1999 property sales and low oil and gas prices received during
the first part of this year.

      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.  The  Partnership  does not  allow for
additional assessments from the partners to fund capital requirements.  However,
funds in addition to the remaining  unexpended  net capital  commitments  of the
partners 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, 1999  (current  quarter) when
compared to the quarter ended September 30, 1998  (corresponding  quarter),  and
for the nine months ended September 30, 1999 (current period),  when compared to
the nine months ended September 30, 1998 (corresponding period).

                                       10

<PAGE>

                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
                MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                 CONDITION AND RESULTS OF OPERATIONS (CONTINUED)


Three Months Ended September 30, 1999 and 1998

       Oil and gas sales increased $68,735 or 37 percent in the third quarter of
1999 when  compared  to the  corresponding  quarter  in 1998,  primarily  due to
increased oil and gas prices. Oil prices increased 68 percent or $7.22/BBL to an
average of  $17.77/BBL  and gas prices  increased  50 percent or $1.03/MCF to an
average of $3.09/MCF for the quarter. Increased oil and gas prices helped offset
the effect of decreased production. Current quarter production volumes decreased
23  percent  as oil and gas  production  declined  23  percent  and 23  percent,
respectively, when compared to third quarter 1998 production volumes. Production
declines are related to normal  depletion  and  partially  to the  Partnership's
property sales in 1999.

      Corresponding  production costs per equivalent MCF increased 65 percent in
the  third  quarter  of 1999  compared  to the third  quarter  of 1998 and total
production costs increased 27 percent.

      Total  depreciation  expense for the third  quarter of 1999  decreased  91
percent or $516,415 when  compared to the third  quarter of 1998.  In 1998,  two
components, the normal provision,  calculated on the units of production method,
and the additional provision,  relating to the ceiling limitation, make up total
depreciation  expense.  Normal  depreciation  expense  decreased  44  percent or
$38,818 in the third quarter of 1999 compared to the third quarter of 1998.

      The  Partnership   recorded  an  additional   provision  in  depreciation,
depletion and  amortization in the third quarter of 1998 for $477,597,  when the
present value,  discounted at ten percent, of estimated future net revenues from
oil and gas  properties,  using the  guidelines of the  Securities  and Exchange
Commission,  was below the fair  market  value  originally  paid for oil and gas
properties.

Nine Months Ended September 30, 1999 and 1998

      Oil and gas sales  increased  $9,556 or 1 percent in the first nine months
of 1999 when  compared to the  corresponding  period in 1998,  primarily  due to
increased oil and gas prices. Oil prices increased 47 percent or $5.41/BBL to an
average of  $16.91/BBL  and gas prices  increased  11 percent or  $.22/MCF to an
average of $2.32/MCF for the current period. Increased oil and gas prices helped
offset the effect of decreased  production.  Current period  production  volumes
decreased  18  percent  as oil and gas  production  declined  32  percent  and 6
percent,  respectively,  when  compared to the same  period in 1998.  Production
declines are related to normal  depletion  and  partially  to the  Partnership's
property sales in 1999.

      Corresponding  production costs per equivalent MCF increased 12 percent in
the first nine months of 1999 compared to the  corresponding  period in 1998 and
total production costs decreased 9 percent.

      Total depreciation  expense for the first nine months of 1999 decreased 74
percent or $571,918 when compared to the first nine months of 1998. In 1998, two
components, the normal provision,  calculated on the units of production method,
and the additional provision,  relating to the ceiling limitation, make up total
depreciation  expense.  Normal  depreciation  expense  decreased  31  percent or
$94,321 in the first nine  months of 1999  compared  to the first nine months of
1998.

      The  Partnership   recorded  an  additional   provision  in  depreciation,
depletion and  amortization in the first nine months of 1998 for $477,597,  when
the present value,  discounted at ten percent,  of estimated future net revenues
from oil and gas properties, using the guidelines of the Securities and Exchange
Commission,  was below the fair  market  value  originally  paid for oil and gas
properties.

      During 1999,  partnership  revenues  and costs will be shared  between the
limited partners and general partners in a 85:15 ratio.



                                       11


<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
                           PART II - OTHER INFORMATION




ITEM 5.    OTHER INFORMATION


                                     -NONE-



                                       12


<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 INCOME
                                        PARTNERS 1989-B, LTD.
                                        (Registrant)

                             By:        SWIFT ENERGY COMPANY
                                        Managing General Partner


Date:  November 4, 1999      By:        /s/ John R. Alden
       ----------------                 ----------------------------------------
                                        John R. Alden
                                        Senior Vice President, Secretary
                                        and Principal Financial Officer

Date:  November 4, 1999      By:        /s/ Alton D. Heckaman, Jr.
       ----------------                 ----------------------------------------
                                        Alton D. Heckaman, Jr.
                                        Vice President, Controller
                                        and Principal Accounting Officer


                                       13