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 March 31, 2000

                                       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 0-18358

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

                  Texas                                 76-0279533
      (State or other jurisdiction         (I.R.S. Employer Identification No.)
              of organization)

                        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

                - March 31, 2000 and December 31, 1999                            3

            Statements of Operations

                - Three month periods ended March 31, 2000 and 1999               4

            Statements of Cash Flows

                - Three month periods ended March 31, 2000 and 1999               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 INCOME PARTNERS 1989-B, LTD.
                                                   BALANCE SHEETS
<TABLE>
<CAPTION>
                                                                March 31,           December 31,
                                                                 2000                  1999
                                                            --------------       ---------------
                                                             (Unaudited)
ASSETS:
<S>                                                         <C>                  <C>
Current Assets:
     Cash and cash equivalents                              $      329,400       $       368,082
     Oil and gas sales receivable                                  228,310               184,848
                                                            --------------       ---------------
          Total Current Assets                                     557,710               552,930
                                                            --------------       ---------------

Gas Imbalance Receivable                                            31,816                31,442
                                                            --------------       ---------------

Oil and Gas Properties, using full cost
     accounting                                                  8,268,923             8,252,610
Less-Accumulated depreciation, depletion
     and amortization                                           (7,034,977)           (6,986,792)
                                                            --------------       ---------------
                                                                 1,233,946             1,265,818
                                                            --------------       ---------------
                                                            $    1,823,472       $     1,850,190
                                                            ==============       ===============


LIABILITIES AND PARTNERS' CAPITAL:

Current Liabilities:
     Accounts Payable                                       $       37,065       $        45,582
                                                            --------------       ---------------

Deferred Revenues                                                   23,613                23,239

Limited Partners' Capital (82,295 Limited Partnership
                           Units; $100 per unit)                 1,740,517             1,768,836
General Partners' Capital                                           22,277                12,533
                                                            --------------       ---------------
          Total Partners' Capital                                1,762,794             1,781,369
                                                            --------------       ---------------
                                                            $    1,823,472       $     1,850,190
                                                            ==============       ===============
</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
                                                                  March 31,
                                                      ----------------------------------
                                                           2000               1999
                                                      ---------------    ---------------
<S>                                                   <C>                <C>
REVENUES:

     Oil and gas sales                                $       255,554    $       268,120
     Interest income                                            4,202                142
                                                      ---------------    ---------------
                                                              259,756            268,262
                                                      ---------------    ---------------


COSTS AND EXPENSES:

     Lease operating                                           72,844             63,019
     Production taxes                                          12,573             10,741
     Depreciation, depletion
          and amortization                                     48,185            101,475
     General and administrative                                41,990             47,474
                                                      ---------------    ---------------
                                                              175,592            222,709
                                                      ---------------    ---------------
NET INCOME (LOSS)                                     $        84,164    $        45,553
                                                      ===============    ===============




Limited Partners' net income (loss)
     per unit                                         $          0.78    $          0.29
                                                      ===============    ===============
</TABLE>



                 See accompanying notes to financial statements.

                                       4

<PAGE>

                    SWIFT ENERGY INCOME PARTNERS 1989-B, LTD.
                             STATEMENT OF CASH FLOWS

                                   (Unaudited)
<TABLE>
<CAPTION>
                                                                                 Three Months Ended
                                                                                      March 31,
                                                                         ------------------------------------
                                                                              2000                 1999
                                                                         ---------------       --------------
CASH FLOWS FROM OPERATING ACTIVITIES:
     <S>                                                                 <C>                   <C>
     Income (loss)                                                       $        84,164       $       45,553
     Adjustments to reconcile income (loss) to
          net cash provided by operations:
          Depreciation, depletion and amortization                                48,185              101,475
          Change in gas imbalance receivable
               and deferred revenues                                                  --                  345
          Change in assets and liabilities:
               (Increase) decrease in oil and gas sales receivable               (43,462)            (228,576)
               Increase (decrease) in accounts payable                            (8,517)             (58,212)
                                                                         ---------------       --------------
          Net cash provided by (used in) operating activities                     80,370             (139,415)
                                                                         ---------------       --------------

CASH FLOWS FROM INVESTING ACTIVITIES:

     Additions to oil and gas properties                                         (16,313)              (4,078)
     Proceeds from sales of oil and gas properties                                    --              214,635
                                                                         ---------------       --------------
          Net cash provided by (used in) investing activities                    (16,313)              210,557
                                                                         ---------------       --------------

CASH FLOWS FROM FINANCING ACTIVITIES:

     Cash Distributions to partners                                             (102,739)             (71,136)
                                                                         ---------------       --------------
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                             (38,682)                    6
                                                                         ---------------       --------------
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD                                 368,082                1,311
                                                                         ---------------       --------------
CASH AND CASH EQUIVALENTS AT END OF PERIOD                               $       329,400       $        1,317
                                                                         ===============       ==============
</TABLE>


                 See accompanying notes to financial statements.

                                       6

<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,  1999  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  being  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 occured 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.

                  During the first quarter of 2000, the Managing General Partner
        mailed proxy material to the limited partners  proposing to sell all the
        Partnership's  interests  in oil and gas  properties  and  dissolve  and
        liquidate the  Partnership.  In April 2000, the limited  partners of the
        Partnership  approved  the proposal to liquidate  the  Partnership.  The
        Managing General Partner  anticipates  liquidation will be substantially
        completed within the next two years.

(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  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 three  months  ended
        March 31, 2000 and 1999

                  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  has  conveyed  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

<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.

Liquidation

      During the first  quarter of 2000,  the Managing  General  Partner  mailed
proxy material to the limited partners  proposing to sell all the  Partnership's
interests in oil and gas properties and dissolve and liquidate the  Partnership.
In April 2000, the limited partners of the Partnership  approved the proposal to
liquidate the Partnership.  The Managing General Partner anticipates liquidation
will be substantially completed within the next two years.

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 sales of oil and
gas production after payment of lease operating expenses,  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 (used in) operating  activities  totaled  $80,370 and
$(139,415)  for the three  months  ended March 31, 2000 and 1999,  respectively.
Cash provided by property sales proceeds  totaled  $214,635 for the three months
ended March 31, 1999. Cash  distributions  totaled  $102,739 and $71,136 for the
three months ended March 31, 2000 and 1999, respectively.

      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.  The
Managing  General Partner  anticipates  that the Partnership  will have adequate
liquidity from income from  continuing  operations to satisfy any future capital
expenditure requirements. Funds generated from bank borrowings and proceeds from
the sale of oil and gas  properties  will be used to  supplement  this effort if
deemed necessary.

Results of Operations

      Oil and gas sales  declined  $12,565 or 5 percent in the first  quarter of
2000 when compared to the  corresponding  quarter in 1999,  due to decreased oil
and gas production.  Current quarter  production volumes decreased 47 percent as
oil and gas production  declined 24 percent and 57 percent,  respectively,  when
compared to first  quarter 1999  production  volumes.  Production  declines were
related to the  Partnership's  property sales in 1999. Oil prices  increased 113
percent or $13.62/BBL to an average of  $25.66/BBL  and gas prices  increased 60
percent or  $1.17/MCF  to an average of  $3.11/MCF  for the  quarter.  Decreased
production significantly offset the effect of increased oil and gas prices.

                                       9

<PAGE>


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


      Corresponding production costs per equivalent MCF increased 120 percent in
the  first  quarter  of 2000  compared  to the first  quarter  of 1999 and total
production costs increased 16 percent.

      Associated  depreciation  expense  decreased 53 percent or $53,290 in 1999
compared to first quarter 1999, related to the decline in production volumes.

      Partnership   payout  occurred  as  of  January  1,  1998.   During  2000,
partnership  revenues and costs will be shared between the limited  partners and
general partners in an 85:15 ratio.


                                       10

<PAGE>


                    SWIFT ENERGY INCOME PARTNERS 1989-B, 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 INCOME
                                       PARTNERS 1989-B, LTD.
                                       (Registrant)

                            By:        SWIFT ENERGY COMPANY
                                       Managing General Partner

Date:     May 8, 2000       By:        /s/ John R. Alden
         ----------------
                                       ----------------------------------
                                       John R. Alden
                                       Senior Vice President, Secretary
                                       and Principal Financial Officer

Date:     May 8, 2000       By:        /s/ Alton D. Heckaman, Jr.
         ----------------
                                       ----------------------------------
                                       Alton D. Heckaman, Jr.
                                       Vice President, Controller
                                       and Principal Accounting Officer

                                       12