SilverBow Resources to acquire oil and gas assets in South Texas from Chesapeake Energy for $700m.

SilverBow Resources, an independent oil and natural gas company engaged in the development, exploration, acquisition and operation, agreed to acquire oil and gas assets in South Texas from Chesapeake Energy, a petroleum and natural gas exploration and production company, for $700m. “SilverBow is well positioned to convert this premium resource into tangible value for its stakeholders. The Chesapeake Transaction transforms SilverBow into the largest public pure-play Eagle Ford operator. This acquisition advances all our long-term strategic objectives, by materially increasing our scale, enhancing our decade-plus high-return inventory, improving our capital efficiency and providing balanced commodity exposure, all while maintaining a strong balance sheet,” Sean Woolverton, SilverBow CEO.