Welcome to our dedicated page for SilverBow Resources news (Ticker: SBOW), a resource for investors and traders seeking the latest updates and insights on SilverBow Resources stock.
SilverBow Resources, Inc. (NYSE: SBOW) is an independent, Houston-based energy company with a primary focus on the exploration, development, and production of oil and natural gas. Operating primarily in the Eagle Ford Shale and Austin Chalk regions of South Texas, the company leverages nearly 30 years of regional expertise to maintain a high-quality drilling inventory and maximize returns on capital investments.
SilverBow's operations are highly contiguous, optimizing horizontal well development while ensuring operational efficiency. The company generates significant revenue from oil, natural gas, and natural gas liquids sales, with a majority coming from the prolific Webb County Gas field.
Recent strategic moves include efforts to position the company for sustainable growth and value creation. Despite challenges from shareholders like Kimmeridge, SilverBow continues to focus on enhancing shareholder value through a strategic sales process, recently leading to a pending sale to Crescent Energy.
The company’s commitment to operational excellence, combined with its strategic initiatives, underscores its significance in the energy sector. SilverBow Resources remains a critical player in the Eagle Ford Shale, continuously adapting to the evolving landscape to deliver strong financial performance and shareholder returns.
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SilverBow Resources, Inc. (NYSE: SBOW) will release financial and operating results for Q4 and full year 2023 on February 28, 2024. The company will host a conference call on February 29, 2024, to discuss the results. The webcast will be available for live and rebroadcast over the internet. A replay will also be available through March 14, 2024.
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SilverBow Resources, Inc. (NYSE: SBOW) announces the upsize and pricing of a previously announced underwritten public offering of its common stock by an affiliate of Strategic Value Partners, LLC. The Offering increased from 1,700,000 to 2,200,000 shares of common stock and the Selling Stockholder granted the underwriters a 30-day option to purchase up to an additional 330,000 shares. The Offering consists entirely of secondary shares to be sold by the Selling Stockholder, with SilverBow not receiving any proceeds from the sale.
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SilverBow Resources, Inc. (NYSE: SBOW) announces an underwritten public offering of 1,700,000 shares of common stock by an affiliate of Strategic Value Partners, LLC, with a 30-day option for the underwriters to purchase an additional 255,000 shares. The Offering is solely comprised of secondary shares, and SilverBow will not receive any proceeds from the sale. Citigroup and Mizuho are the joint book-running managers for the Offering.
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SilverBow Resources, Inc. (NYSE: SBOW) announced the completion of the acquisition of Chesapeake Energy Corporation's oil and gas assets in South Texas for $700 million, funded through cash on hand, borrowings, and note sales. The acquisition is expected to increase production and generate significant free cash flow, with a preliminary 2024 outlook of 551-611 MMcfe/d and liquids comprising ~40% of the production mix. The company's capital structure provides ~$500 million of liquidity by year-end 2023.
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Riposte Capital LLC, a significant shareholder of SilverBow Resources, Inc. (NYSE: SBOW), owning approximately 6.7% of the Company's outstanding common stock, has sent a letter to SilverBow's Board of Directors expressing concerns about the Board's inability to be credible stewards of capital or corporate governance. The letter highlights the Board's pursuit of dilutive transactions, maintaining the industry's only poison pill, and trading at a 50% discount to peers. Riposte calls for the alteration of the Board's composition by nominating three new and independent candidates at the 2024 annual meeting of shareholders.
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SilverBow Resources, Inc. (SBOW) announced the resignation of David Geenberg from the Board of Directors, effective November 27, 2023. This was due to Strategic Value Partners, LLC's sell down of its equity position in the company. Ellen R. DeSanctis has been appointed as an independent director, bringing over 40 years of industry experience to the board.
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SilverBow Resources, Inc. (NYSE: SBOW) has been awarded a Top Workplaces 2023 honor by the Houston Chronicle. The award is based on employee feedback and measures 15 culture drivers critical to organizational success. CEO Sean Woolverton expressed pride in the company's recognition and emphasized SilverBow's commitment to promoting a strong company culture and employee well-being. The company has been recognized as a Top Workplace by the Houston Chronicle for a fourth consecutive year and has continuously grown through acquisitions and increased headcount since 2020.
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SilverBow Resources, Inc. announced an agreement to acquire certain South Texas assets from Chesapeake for $700 million. Third quarter net production exceeded guidance, with a 23% increase in oil production. Total debt was reduced by $78 million quarter-over-quarter. Full year 2023 free cash flow guidance was increased to $20-$40 million.
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SilverBow Resources to release Q3 2023 financial results and host conference call
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SilverBow Resources, Inc. announces upsize and pricing of its public offering of common stock.
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FAQ
What is the current stock price of SilverBow Resources (SBOW)?
The current stock price of SilverBow Resources (SBOW) is $37.93 as of July 30, 2024.
What is the market cap of SilverBow Resources (SBOW)?
The market cap of SilverBow Resources (SBOW) is approximately 940.4M.
What does SilverBow Resources, Inc. do?
SilverBow Resources, Inc. is an independent energy company focused on the exploration, development, and production of oil and natural gas in the Eagle Ford Shale and Austin Chalk regions of South Texas.
Where is SilverBow Resources, Inc. headquartered?
SilverBow Resources, Inc. is headquartered in Houston, Texas.
What are the main revenue sources for SilverBow?
SilverBow's primary revenue sources are the sale of oil, natural gas, and natural gas liquids, with a significant portion coming from the Webb County Gas field.
What recent strategic initiatives has SilverBow undertaken?
SilverBow has been focusing on strategic initiatives to enhance shareholder value, including a pending sale to Crescent Energy, driven by shareholder engagement efforts.
What is the significance of the Eagle Ford Shale for SilverBow?
The Eagle Ford Shale is a key operational area for SilverBow, providing a high-quality drilling inventory and opportunities for efficient horizontal well development.
How long has SilverBow been operating in South Texas?
SilverBow Resources has been operating in South Texas for almost 30 years, leveraging extensive regional expertise.
Who is the largest shareholder of SilverBow?
Kimmeridge, an alternative asset manager, is the largest shareholder of SilverBow Resources, holding 12.9% of the outstanding shares.
What was the outcome of Kimmeridge's proxy contest with SilverBow?
Kimmeridge withdrew its independent nominees for SilverBow's Board in light of SilverBow's pending sale to Crescent Energy, concluding their proxy contest.
How does SilverBow enhance returns on capital invested?
SilverBow continuously enhances its operations through efficient horizontal well development and leveraging its deep understanding of regional reservoirs in the Eagle Ford Shale.
What are the future plans for SilverBow Resources?
SilverBow's future plans include completing the pending sale to Crescent Energy, aiming to drive further value creation for shareholders.
SilverBow Resources, Inc.
NYSE:SBOW
SBOW Rankings
SBOW Stock Data
940.37M
24.71M
3.13%
83.88%
4.04%
Oil & Gas E&P
Crude Petroleum & Natural Gas
United States of America
HOUSTON