Past year: ▼ 93%(8.50c – 3.02 USD)
Each one in plain English, with the numbers worked through for a shareholder.
22 Nov 2021asset acquisition disposition● NeutralMajor
On November 19, 2021 SilverBow closed its purchase of Eagle Ford oil and gas assets from Teal Natural Resources and Castlerock Production, the deal announced October 8. The price was about $75 million: $45 million in cash and 1,351,961 new shares. This resolves the pending acquisition and the earlier question about its closing date; the new shares dilute existing holders, and the company says it will file to allow public resale of them.
15 Nov 2021debt financing▲ GoodMajor
On November 12, 2021 SilverBow amended both its bank credit facility and its second lien notes. The borrowing base rose from $300 million to $460 million (limited until a previously disclosed acquisition closes), and the maximum credit amount rose from $600 million to $1 billion. The second lien notes' maturity moves from December 2024 to December 2026 once $50 million is redeemed by February 15, 2022, which would cut them from $200 million to $150 million. This supports the earlier acquisitions with more borrowing room and pushes out a debt maturity, with tighter debt limits on the notes.
4 Nov 2021quarterly activities report▼ Bad
SILVERBOW RESOURCES, INC. reported quarterly revenue of $99.2 million and a net loss of $35.9 million for the period ended 2021-09-30.
3 Nov 2021quarterly activities report▼ Bad
SILVERBOW RESOURCES, INC. reported quarterly revenue of $99.2 million and a net loss of $35.9 million for the period ended 2021-09-30.
20 Oct 2021securities registration● Neutral
SILVERBOW RESOURCES, INC. filed the final prospectus for a registered offering.
12 Oct 2021capital raising announcement● NeutralMajor
On October 8, 2021 SilverBow agreed to buy Eagle Ford oil assets from Teal Natural Resources and Castlerock Production for about $75 million: $45 million cash plus about $30 million in stock (at least 1,351,961 shares). Closing is expected before year-end 2021, and either side can terminate if it has not closed by December 20, 2021. The cash is to come from cash on hand and revolver borrowings, and the press release calls it the third acquisition since early August and the largest so far. It adds more shares and more debt to the company's balance sheet.
8 Oct 2021securities registration● Neutral
SILVERBOW RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
3 Sept 2021securities registration● Neutral
SILVERBOW RESOURCES, INC. filed the final prospectus for a registered offering.
27 Aug 2021securities registration● Neutral
SILVERBOW RESOURCES, INC. registered a securities offering with the SEC using its shelf eligibility.
13 Aug 2021securities registration● Neutral
SILVERBOW RESOURCES, INC. filed a prospectus supplement for an offering off its existing shelf.
13 Aug 2021capital raising announcement● NeutralMajor
On August 12, 2021 SilverBow agreed to buy Eagle Ford oil and gas assets from undisclosed sellers for about $33 million, paid entirely in 1,514,457 new shares of its stock, with closing expected around October 1, 2021. The press release cites about 45,000 net acres and April 2021 net production of about 1,580 barrels of oil equivalent per day. Existing shareholders will be diluted by the new shares. The CEO describes it as the second acquisition announced since early August.
13 Aug 2021material agreement● NeutralMajor
On August 13, 2021 SilverBow set up an at-the-market programme with Johnson Rice and Truist Securities, allowing it to sell up to $40 million of new common stock over time, with a 3.0% commission to the agents. Proceeds are for general purposes, including capital spending, debt repayment or acquisitions. Any shares sold would add to the share count; the filing does not say whether any have been sold.
10 Aug 2021substantial holder notice● Neutral
DW Partners, LP, DW Investment Partners, LLC reported no remaining SILVERBOW RESOURCES, INC. shareholding in its periodic institutional filing.
5 Aug 2021quarterly activities report▼ Bad
SILVERBOW RESOURCES, INC. reported quarterly revenue of $69.9 million and a net loss of $20.0 million for the period ended 2021-06-30.
4 Aug 2021quarterly activities report▼ Bad
SILVERBOW RESOURCES, INC. reported quarterly revenue of $69.9 million and a net loss of $20.0 million for the period ended 2021-06-30.
30 June 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. EVP and COO Steven W Adam sold 5,000 shares at $23.94.
28 June 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. EVP, CFO, GC & SECY Christopher M Abundis sold 10,000 shares.
12 May 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. insider Charles W Wampler sold 5,000 shares at $14.22.
11 May 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. insider Gabriel L Ellisor sold 5,000 shares at $13.32.
6 May 2021quarterly activities report● Neutral
SILVERBOW RESOURCES, INC. reported quarterly revenue of $86.7 million and net income of $28.4 million for the period ended 2021-03-31.
5 May 2021quarterly activities report● Neutral
SILVERBOW RESOURCES, INC. reported quarterly revenue of $86.7 million and net income of $28.4 million for the period ended 2021-03-31.
19 Apr 2021debt financing● NeutralMajor
On April 16, 2021 SilverBow and its bank group signed the Seventh Amendment to the revolving credit agreement: the borrowing base was cut from $310 million to $300 million and the maturity was pushed from April 19, 2022 to April 19, 2024. The interest margin rose 50 basis points, the allowed debt-to-EBITDA limit tightened (to 3.25x, then 3.00x from March 31, 2022), and a 50% minimum hedging requirement over 24 months was added. The attached press release says borrowings were $200 million at March 31, 2021 (down $30 million in the quarter), and reports a first Webb County Austin Chalk well averaging 12.9 MMcf/d over its first 30 days. This replaces the April 2022 maturity noted earlier.
24 Mar 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. EVP and COO Steven W Adam had 3,156 shares withheld for taxes on vesting stock.
10 Mar 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. Controller William Eric Schultz acquired 5,900 shares and disposed of 783 in a set of related equity transactions.
9 Mar 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. EVP, CFO, GC & SECY Christopher M Abundis had 1,134 shares withheld for taxes on vesting stock.
9 Mar 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. EVP and COO Steven W Adam had 1,720 shares withheld for taxes on vesting stock.
9 Mar 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. CHIEF EXECUTIVE OFFICER Sean C Woolverton had 3,866 shares withheld for taxes on vesting stock.
3 Mar 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. CHIEF EXECUTIVE OFFICER Sean C Woolverton had 4,712 shares withheld for taxes on vesting stock.
2 Mar 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. EVP, CFO, GC & SECY Christopher M Abundis had 5,344 shares withheld for taxes on vesting stock.
2 Mar 2021director interest notice● Neutral
SILVERBOW RESOURCES, INC. CHIEF EXECUTIVE OFFICER Sean C Woolverton had 16,623 shares withheld for taxes on vesting stock.
