SilverBow Resources Announces Fall Borrowing Base Redetermination
November 09 2017 - 6:11PM
Business Wire
SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow” or “the
Company”) today announced that the borrowing base under its
revolving credit facility was increased $40 million to $370 million
in connection with the Fall redetermination.
G. Gleeson Van Riet, Chief Financial Officer, commented, “Our
strong growth in reserves and production drove the $40 million
increase in our credit facility. These results are a testament to
our people and the success we have had executing our 2017 strategic
plan. I would like to thank our bank group for their continued
support in the growth of the Company. With $130 million in
liquidity, we are well positioned to continue executing on our
strategy of growth with returns.”
About SilverBow Resources
SilverBow Resources (NYSE: SBOW) is a Houston-based energy
company actively engaged in the exploration, development, and
production of oil and gas from the Eagle Ford Shale in South Texas.
With almost 30 years of history operating in South Texas, the
Company possesses a significant understanding of regional
reservoirs which we leverage to assemble high quality drilling
inventory while continuously enhancing our operations to maximize
returns on capital invested. For more information please visit
www.sbow.com.
Forward-Looking Statements
This release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
The opinions, forecasts, projections, or other statements other
than statements of historical fact, are forward-looking statements.
Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable, no assurances can
be given that such expectations will prove to have been correct.
Certain risks and uncertainties inherent in the company’s business
are set forth in the filings of SilverBow Resources, Inc. with the
Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20171109006745/en/
SilverBow Resources, Inc.Doug Atkinson, CFA, 281-874-2700,
800-777-2412Senior Manager – Finance & Investor Relations
SilverBow Resources (NYSE:SBOW)
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