30 Sept 2022substantial holder notice● Neutral
Post Oak Energy Holdings, LLC, Post Oak Energy Capital, LP, Post Oak Tri-C, LLC reported a SILVERBOW RESOURCES, INC. shareholding of 1,861,047 shares (8.30% of votes) in a periodic institutional filing.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
23 Sept 2022substantial holder notice● Neutral
Kimmeridge Energy Management Company, LLC disclosed a new substantial SILVERBOW RESOURCES, INC. shareholding (14.70% of votes).
22 Sept 2022listing compliance notice▲ GoodMajor
the exchange certified SILVERBOW RESOURCES, INC.'s securities for listing, clearing them to begin trading.
29 Aug 2022director interest notice● Neutral
SILVERBOW RESOURCES, INC. director Strategic Value Partners, LLC sold 111,367 shares.
25 Aug 2022director interest notice● Neutral
SILVERBOW RESOURCES, INC. director Strategic Value Partners, LLC sold 252,555 shares.
24 Aug 2022director interest notice● Neutral
SILVERBOW RESOURCES, INC. insider Charles W Wampler sold 5,000 shares at $47.05.
17 Aug 2022director interest notice● Neutral
SILVERBOW RESOURCES, INC. insider Gabriel L Ellisor sold 9,474 shares at $44.22.
10 Aug 2022substantial holder notice● Neutral
Kimmeridge Energy Management Company, LLC disclosed a new substantial SILVERBOW RESOURCES, INC. shareholding (14.70% of votes).
9 Aug 2022securities registration● Neutral
SILVERBOW RESOURCES, INC. filed the final prospectus for a registered offering.
5 Aug 2022securities registration● Neutral
SILVERBOW RESOURCES, INC. amended a filing by which it registered a securities offering with the SEC using its shelf eligibility.
4 Aug 2022quarterly activities report● Neutral
SILVERBOW RESOURCES, INC. reported quarterly revenue of $182.6 million and net income of $88.8 million for the period ended 2022-06-30.
3 Aug 2022quarterly activities report● Neutral
SILVERBOW RESOURCES, INC. reported quarterly revenue of $182.6 million and net income of $88.8 million for the period ended 2022-06-30.
12 July 2022director interest notice● Neutral
SILVERBOW RESOURCES, INC. 10%+ owner Kimmeridge Energy Management Company, LLC bought 578,378 shares on the open market.
12 July 2022director interest notice● Neutral
Kimmeridge Energy Management Company, LLC became a SILVERBOW RESOURCES, INC. 10%+ owner and company insider (initial ownership filing).
11 July 2022substantial holder notice● Neutral
Apollo TR Opportunistic Ltd, Apollo Total Return Master Fund LP, Apollo Total Return Management LLC, Apollo Total Return Master Fund Enhanced LP, Apollo Total Return Enhanced Management LLC, Apollo Atlas Master Fund, LLC, Apollo Atlas Management, LLC, Apollo Union Street SPV, L.P, Apollo Union Street SPV Advisors, LLC, Apollo Kings Alley Credit SPV, L.P, ATCF SPV, L.P, Apollo TRF MP Management, LLC, Apollo Tactical Value SPN Investments, L.P, Apollo Moultrie Credit Fund, L.P, Apollo Moultrie Credit Fund Advisors, L.P, Apollo Moultrie Capital Management, LLC, Tranquilidade Multi-Credit Strategy Fund, Amissima Assicurazioni Multi-Credit Strategy Fund, Apollo Management International LLP, Apollo International Management, L.P, Apollo International Management GP, LLC, Apollo Principal Holdings IV GP, Ltd, Apollo Management Holdings, L.P, Apollo Management Holdings GP, LLC disclosed a new substantial SILVERBOW RESOURCES, INC. shareholding (1.40% of votes).
7 July 2022substantial holder notice● Neutral
Angelo, Gordon & Co., L.P, AG GP LLC, Josh Baumgarten, Adam Schwartz, AG Energy Funding, LLC disclosed a new substantial SILVERBOW RESOURCES, INC. shareholding (6.90% of votes).
6 July 2022securities registration● Neutral
SILVERBOW RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
5 July 2022asset acquisition disposition▲ GoodMajor
On June 30, 2022 SilverBow closed the Sundance acquisition of Eagle Ford assets in Atascosa, La Salle, Live Oak and McMullen counties, for about $354 million: $225 million cash plus 4,148,472 new shares, with up to $15 million more in cash depending on 2022 and 2023 oil prices. This completes the deal announced in April; the press release says the cash was funded from cash on hand and revolver borrowings, and that the SandPoint acquisition closed on May 10, 2022. At June 30, 2022 the press release shows $494 million borrowed under the revolver and about $284 million of liquidity.
24 June 2022debt financing▲ GoodMajor
On June 22, 2022 SilverBow signed a Tenth Amendment to its revolving credit facility: maturity extended to October 19, 2026, borrowing base raised from $525 million to $775 million, maximum credit amounts raised from $1 billion to $2 billion, and the interest margin reduced. The higher borrowing base is limited until the Sundance deal closes, which the filing still expects in June or July 2022. This builds on the April 2022 increase to $525 million.
10 June 2022securities registration● Neutral
SILVERBOW RESOURCES, INC. filed the final prospectus for a registered offering.
17 May 2022substantial holder notice● Neutral
SandPoint Operating, LLC, SandPoint Resources Management, LLC, SandPoint Resources, LLC, CEC SandPoint Holdings, LLC, Carnelian Energy Capital II, L.P, Carnelian Energy Capital GP II, L.P, Carnelian Energy Capital Holdings, LLC, Tomas Ackerman, Daniel Goodman disclosed a new substantial SILVERBOW RESOURCES, INC. shareholding (7.16% of votes).
13 May 2022securities registration● Neutral
SILVERBOW RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
9 May 2022business combination● Neutral
SilverBow filed its final proxy statement setting a virtual special shareholder meeting for June 21, 2022 (record date May 2, 2022) to approve issuing 4,148,472 shares in the Sundance deal. At the May 5, 2022 share price of $34.83, the filing values total consideration at about $369 million; the assets are 39,000 net acres with January 2022 production of 11,100 Boe/d. The board unanimously recommends a yes vote. This finalises the draft filed in April; the vote outcome is not yet known.
5 May 2022quarterly activities report▼ Bad
SILVERBOW RESOURCES, INC. reported quarterly revenue of $129.7 million and a net loss of $64.3 million for the period ended 2022-03-31.
4 May 2022quarterly activities report▼ Bad
SILVERBOW RESOURCES, INC. reported quarterly revenue of $129.7 million and a net loss of $64.3 million for the period ended 2022-03-31.
27 Apr 2022business combination● Neutral
SilverBow filed a draft proxy statement asking shareholders to approve issuing 4,148,472 shares for the Sundance deal (about $225 million cash plus those shares). The draft leaves the meeting date and closing-day share value blank, and the board unanimously recommends voting for it. It says completion is anticipated in June or July 2022 if approved. This moves the April Sundance deal toward its shareholder vote.
15 Apr 2022director interest notice● Neutral
SILVERBOW RESOURCES, INC. CHIEF EXECUTIVE OFFICER Sean C Woolverton sold 10,000 shares at $40.00.
15 Apr 2022director interest notice● Neutral
SILVERBOW RESOURCES, INC. EVP and COO Steven W Adam sold 10,000 shares at $39.50.
14 Apr 2022capital raising announcement● NeutralMajor
On April 13, 2022 SilverBow agreed to buy Eagle Ford assets from Sundance Energy and affiliates for about $354 million: about $225 million cash and 4,148,472 new shares, plus up to $15 million more in cash depending on 2022-2023 oil prices. It needs shareholder approval and is expected to close by July 19, 2022, with either side able to terminate if it has not closed by September 2, 2022. Strategic Value Partners, holding 26.6% of the stock, agreed to vote for the share issuance. Separately it agreed to buy assets from SandPoint for about $71 million (about $31 million cash and 1.3 million shares), expected to close in May 2022. Both would add shares and, for the cash portions, require funding (the filing does not state the source).
13 Apr 2022debt financing▲ Good
On April 12, 2022 SilverBow raised its revolving credit facility's borrowing base from $460 million to $525 million in the scheduled twice-yearly review, and added two new lenders. The press release says that, as of March 31, 2022, there was $200 million drawn, about $2 million cash and about $327 million of liquidity after the increase. It also allows deposits to third-party sellers of up to the lesser of $50 million and 10% of the borrowing base. This continues the November 2021 expansion of the facility, and the borrowing base is now no longer limited pending an acquisition per the earlier amendment (the filing does not mention that limit).