SilverBow Res Stock Price, News & Analysis

SilverBow Resources, Inc. (NYSE: SBOW) has expanded its presence in the Dorado play by acquiring an additional 7,500 net acres in Webb County, Texas, incurring around $50 million in total costs. This acquisition doubles its existing acreage and includes approximately 650 BCF of net recoverable resource. The company has already initiated production with one well from each of the Eagle Ford and Austin Chalk formations, achieving initial production rates of 13 MMcf/d and 17 MMcf/d respectively. This strategic move is expected to enhance SilverBow's core inventory and production capacity.

SilverBow Resources reported robust Q2 2022 results, achieving net production of 238 MMcfe/d, with a strong natural gas composition. The company recorded net income of $89 million and an Adjusted EBITDA of $85 million. Following two significant acquisitions, its borrowing base increased to $775 million. Looking ahead, SilverBow forecasts a production growth of 30% annually, targeting a 1.0x leverage ratio by year-end 2022 and a free cash flow yield exceeding 25% in 2023. Average realized prices for crude oil and natural gas have seen significant increases compared to the previous year.

SilverBow Resources, Inc. (NYSE: SBOW) will release its financial and operating results for Q2 2022 on August 3, 2022, after market close. Following this, a conference call is scheduled for August 4, 2022, at 11:00 a.m. CT to discuss the results. The call can be accessed via dial-in numbers provided, or through a live webcast on the company website. A replay will be available shortly after the call, lasting until September 1, 2022. SilverBow operates primarily in the Eagle Ford Shale and Austin Chalk regions of South Texas.

SilverBow Resources has completed its acquisition of Sundance Energy, valued at approximately $225 million in cash and 4.1 million shares. This strategic move is expected to elevate production by over 25% to 58,000 Boe/d by year-end 2022 and achieve a 100% year-over-year increase in oil production. SilverBow anticipates generating $250 million in free cash flow in 2023, reflecting a 40% yield. Updated guidance shows enhanced production rates, with a significant focus on developing its oily and gas portfolios.

SilverBow Resources, Inc. (NYSE: SBOW) has secured bank approval to amend its senior secured revolving credit facility, extending its maturity to October 2026 and increasing the borrowing base from $525 million to $775 million. This amendment is linked to recent acquisitions, including assets from SandPoint Operating and an impending acquisition from Sundance Energy, Inc. CEO Sean Woolverton highlighted the company's enhanced asset quality and significant liquidity, enabling growth through drilling and strategic acquisitions.

SilverBow Resources, Inc. (NYSE: SBOW) has completed its acquisition of select assets from SandPoint Operating, LLC for approximately $31 million in cash and 1.3 million shares of its common stock. This acquisition enhances SilverBow’s production, inventory, and reserves in La Salle and McMullen counties. CEO Sean Woolverton highlighted the strategic importance of this deal, marking the fourth acquisition since August 2022. The company anticipates closing another acquisition for Sundance assets by mid-2023, which may improve liquidity and promote further growth opportunities.

SilverBow Resources (NYSE: SBOW) reported strong operational and financial results for Q1 2022, achieving a net production of 226 MMcfe/d. Despite a net loss of $64 million, influenced by a $112 million loss on derivative contracts, the company generated $74 million in Adjusted EBITDA and $28 million in free cash flow. Total debt decreased by $27 million, targeting a leverage ratio below 1.0x by year-end. SilverBow announced acquisitions of Sundance Energy and SandPoint Operating, worth a combined $425 million, which are expected to enhance production and financial metrics.

SilverBow Resources, Inc. (NYSE: SBOW) will announce its first quarter 2022 financial results after market close on May 4, 2022. A conference call to discuss these results is scheduled for May 5, 2022, at 8:00 a.m. CT. Investors can access the call by dialing 1-833-772-0370 (U.S.) or 1-236-738-2241 (International) with the conference ID 3815289. A live webcast will also be available, and a replay can be accessed until June 3, 2022.

SilverBow Resources (NYSE: SBOW) has announced two significant acquisitions, acquiring Sundance Energy's assets for $354 million and SandPoint Operating's assets for $71 million. The Sundance deal, which includes 39,000 acres in key Texas counties and has a projected 2022 EBITDA of $170 million, is set to close in Q3 2022, pending shareholder approval. The SandPoint acquisition, targeting the Eagle Ford and Olmos formations, is expected to close in Q2 2022 with a projected EBITDA of $29 million. These transactions will expand SilverBow's footprint by 50%, enhancing production and cash flow significantly.