SilverBow Resources completed the acquisition of Sundance Energy and SandPoint Resources for $369m.

SilverBow Resources, an independent exploration and production company, completed the acquisition of Sundance Energy, an independent E&P company, and SandPoint Resources, an independent oil & gas company, for $369m. “SilverBow has a disciplined approach towards growth based on our strict investment criteria. Today’s transformative news builds on our recent series of transactions while advancing a number of our strategic objectives. These deals mark the fourth and fifth acquisitions we have announced since the second half of last year, which cumulatively total over $550m of transaction value. We are significantly increasing SilverBow’s size, scale and cash flow while maintaining a conservative balance sheet and a leverage ratio of less than 1.0x by year-end 2022. Pro forma for the transactions, liquids production will comprise a third of our production mix, allowing us to capture margin uplift from the current strength in liquids pricing. SilverBow will now have even greater optionality to allocate capital between both oil and gas development, which has been a cornerstone of the Company’s strategy over the last few years,” Sean Woolverton, SilverBow CEO.