secwatch.observer — SEC 8-K summary
======================================

Issuer:     SILVERBOW RESOURCES, INC. (—)
CIK:        0000351817
Form:       8-K/A
Filed at:   2023-12-05T23:59:59+00:00
Accession:  0000351817-23-000109
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SilverBow closes $700M Chesapeake South Texas Eagle Ford asset acquisition; provides historical financials
--------------------------------------------------------------------------------

- Acquired ~42,000 net acres and ~540 wells for $700M: $650M cash at close and $50M on first anniversary, plus up to $50M contingent on commodity price triggers.
- Acquired assets generated $483.4M revenue in FY2022, $347.5M in FY2021; excess of revenue over direct op ex of $294.4M and $201.1M, respectively.
- For nine months ended Sep 30, 2023, revenue of $291.8M, excess over direct op ex of $169.4M.
- Proved reserves at Dec 31, 2022: 315.1 Bcf natural gas, 30.5 MMbbl oil, 41.3 MMbbl NGL (746.2 Bcfe total).
- Transaction closed Nov 30, 2023; initial 8-K now supplemented with required financial statements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/351817/000035181723000109/0000351817-23-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/351817/000035181723000109/sbow-20231130.htm
  HTML page:      https://secwatch.observer/filing/0000351817-23-000109

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer