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).
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.
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.
25 Jan 2017capital raising announcement▲ GoodMajor
On January 20, 2017 the company agreed to sell 1,403,508 new shares at $28.50 in a private placement, about $40 million gross and $39 million net, to repay credit facility borrowings and for general purposes. The release set a 2017 capital budget of $85-95 million and said the company committed to list all shares on the NYSE.
