secwatch.observer — SEC 8-K summary
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Issuer:     SILVERBOW RESOURCES, INC. (—)
CIK:        0000351817
Form:       8-K
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001193125-23-287448
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 2.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SilverBow closes $700M Chesapeake Eagle Ford acquisition; expands borrowing base to $1.2B
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- Total consideration $700M: $650M cash at close, $50M deferred, plus up to $50M contingent on commodity prices.
- Borrowing base under credit facility increased from $775M to $1.2B; additional $350M second lien notes issued (total $500M), maturity extended to 2028.
- Preliminary 2024 outlook: production 551–611 MMcfe/d (~40% liquids), capex $550–$580M, with 3-rig program.
- Year-end 2023 liquidity approximately $464M; 2024 hedges in place on ~55% of production at $3.83/MMBtu gas floor, $74.02/bbl oil floor.
- Acquisition transforms SilverBow into largest public pure-play Eagle Ford operator with >220,000 net acres and 1,000 drilling locations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/351817/000119312523287448/0001193125-23-287448-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/351817/000119312523287448/d855880d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-287448

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