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.
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.68%
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.68%
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Rhea-AI Summary
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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Rhea-AI Sentiment
End-of-Day
0.91%
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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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.87%
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.6%
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SilverBow Resources to release Q3 2023 financial results and host conference call
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.87%
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Rhea-AI Summary
SilverBow Resources, Inc. announces upsize and pricing of its public offering of common stock.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.78%
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Rhea-AI Summary
SilverBow Resources, Inc. announces public offering of 3,000,000 shares of common stock
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.73%
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SilverBow Resources, Inc.
NYSE:SBOW
SBOW Rankings
SBOW Stock Data
791.24M
17.08M
3.13%
93.51%
6.77%
Crude Petroleum and Natural Gas Extraction
Mining, Quarrying, and Oil and Gas Extraction
United States of America
HOUSTON
About SBOW
silverbow resources is a houston-based energy company actively engaged in the exploration, development, and production of oil and gas from the eagle ford shale in south texas. with almost 30 years of history operating in south texas, the company possesses a significant understanding of regional reservoirs which we leverage to assemble high quality drilling inventory while continuously enhancing our operations to maximize returns on capital invested