SilverBow Closes Acquisition of Carnelian-backed Eagle Ford Operator SandPoint

SilverBow had announced in April it had entered separate agreements to acquire certain assets from SandPoint Operating and substantially all of the assets of Sundance Energy for a combined $440 million including continent payments.

Hart Energy Staff

SilverBow Resources Inc. recently closed its cash-and-stock acquisition valued at roughly $71 million of SandPoint Operating LLC, marking the Houston-based company’s latest purchase in the Eagle Ford Shale.

Backed by Carnelian Energy Capital Management LP, SandPoint is an independent oil and gas company focused in the Eagle Ford. The SandPoint assets add meaningful production, inventory and reserves across a highly contiguous acreage position in La Salle and McMullen counties in South Texas, according to SilverBow CEO Sean Woolverton.

“This is the fourth deal we have closed since August of last year as we continue to execute on our strategic objectives,” Woolverton commented in a company release on May 11.

Already have an account? Log In

Sign up for FREE access to view this article now!

Unlock Free Access