Securities and Exchange Commission

Washington, D.C. 20549

 

 

Schedule 13G

(Rule 13d-102)

Information to be Included in Statements Filed Pursuant

to § 240.13d-1(b), (c) and (d) and Amendments Thereto Filed

Pursuant to § 240.13d-2

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No.     )*

 

 

SilverBow Resources, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

82836G102

(CUSIP Number)

May 10, 2022

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

Rule 13d-1(b)

 

Rule 13d-1(c)

 

Rule 13d-1(d)

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 82836G102    Schedule 13G    Page 1 of 15

 

  1    

  Names of Reporting Persons

 

  SandPoint Operating, LLC

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  1,300,000

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  1,300,000

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,300,000

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  7.16%

12  

  Type of Reporting Person

 

  OO


CUSIP No. 82836G102    Schedule 13G    Page 2 of 15

 

  1    

  Names of Reporting Persons

 

  SandPoint Resources Management, LLC

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  1,300,000

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  1,300,000

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,300,000

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  7.16%

12  

  Type of Reporting Person

 

  OO


CUSIP No. 82836G102    Schedule 13G    Page 3 of 15

 

  1    

  Names of Reporting Persons

 

  SandPoint Resources, LLC

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  1,300,000

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  1,300,000

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,300,000

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  7.16%

12  

  Type of Reporting Person

 

  OO


CUSIP No. 82836G102    Schedule 13G    Page 4 of 15

 

  1    

  Names of Reporting Persons

 

  CEC SandPoint Holdings, LLC

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  1,300,000

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  1,300,000

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,300,000

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  7.16%

12  

  Type of Reporting Person

 

  OO


CUSIP No. 82836G102    Schedule 13G    Page 5 of 15

 

  1    

  Names of Reporting Persons

 

  Carnelian Energy Capital II, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  1,300,000

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  1,300,000

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,300,000

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  7.16%

12  

  Type of Reporting Person

 

  PN


CUSIP No. 82836G102    Schedule 13G    Page 6 of 15

 

  1    

  Names of Reporting Persons

 

  Carnelian Energy Capital GP II, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  1,300,000

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  1,300,000

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,300,000

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  7.16%

12  

  Type of Reporting Person

 

  PN


CUSIP No. 82836G102    Schedule 13G    Page 7 of 15

 

  1    

  Names of Reporting Persons

 

  Carnelian Energy Capital Holdings, LLC

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  1,300,000

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  1,300,000

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,300,000

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  7.16%

12  

  Type of Reporting Person

 

  OO


CUSIP No. 82836G102    Schedule 13G    Page 8 of 15

 

  1    

  Names of Reporting Persons

 

  Tomas Ackerman

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  United States

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  1,300,000

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  1,300,000

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,300,000

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  7.16%

12  

  Type of Reporting Person

 

  IN


CUSIP No. 82836G102    Schedule 13G    Page 9 of 15

 

  1    

  Names of Reporting Persons

 

  Daniel Goodman

  2  

  Check the Appropriate Box if a Member of a Group

 

  (a)  ☐        (b)  ☐

  3  

  SEC Use Only

 

  4  

  Citizenship or Place of Organization

 

  United States

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

   5    

  Sole Voting Power

 

  0

   6  

  Shared Voting Power

 

  1,300,000

   7  

  Sole Dispositive Power

 

  0

   8  

  Shared Dispositive Power

 

  1,300,000

  9    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  1,300,000

10  

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares

 

  Not Applicable

11  

  Percent of Class Represented by Amount in Row 9

 

  7.16%

12  

  Type of Reporting Person

 

  IN


CUSIP No. 82836G102    Schedule 13G    Page 10 of 15

 

ITEM 1.

(a)     Name of Issuer:

SilverBow Resources, Inc. (the “Issuer”).

 

  (b)

Address of Issuer’s Principal Executive Offices:

920 Memorial City Way, Suite 850

Houston, Texas 77024

 

ITEM 2.

(a) Name of Person Filing:

Each of the following is hereinafter individually referred to as a “Reporting Person” and collectively as the “Reporting Persons.” This statement is filed on behalf of:

SandPoint Operating, LLC;

SandPoint Resources Management, LLC;

SandPoint Resources, LLC;

CEC SandPoint Holdings, LLC;

Carnelian Energy Capital II, L.P.;

Carnelian Energy Capital GP II, L.P.;

Carnelian Energy Capital Holdings, LLC;

Tomas Ackerman; and

Daniel Goodman.

 

  (b)

Address or Principal Business Office:

The principal business address of each of SandPoint Operating, LLC, SandPoint Resources Management, LLC and SandPoint Resources, LLC is 1020 NE Loop 410, Suite 660, San Antonio, TX 78209.

The principal business address of each of the other Reporting Persons is 2229 San Felipe Street, Suite 1450, Houston, TX 77019.

 

  (c)

Citizenship of each Reporting Person is:

Messrs. Ackerman and Goodman are citizens of the United States of America. Each of the other Reporting Persons is organized under the laws of the State of Delaware.

 

  (d)

Title of Class of Securities:

Common Stock, par value $0.01 per share (“Common Stock”).

 

  (e)

CUSIP Number:

82836G102


CUSIP No. 82836G102    Schedule 13G    Page 11 of 15

 

ITEM 3.

Not applicable.

 

ITEM 4.

Ownership.

(a-c)

The ownership information presented below represents beneficial ownership of Common Stock of the Issuer as of May 10, 2022, based upon 18,150,294 shares of Common Stock outstanding as of May 10, 2022.

 

Reporting Person   

Amount

beneficially

owned

    

Percent

of class:

   

Sole
power
to vote

or to
direct

the vote:

     Shared
power to
vote or to
direct the
vote:
    

Sole
power to
dispose or
to direct
the
disposition

of:

    

Shared

power to

dispose or

to direct

the

disposition

of:

 

SandPoint Operating, LLC

     1,300,000        7.16     0        1,300,000        0        1,300,000  

SandPoint Resources Management, LLC

     1,300,000        7.16     0        1,300,000        0        1,300,000  

SandPoint Resources, LLC

     1,300,000        7.16     0        1,300,000        0        1,300,000  

CEC SandPoint Holdings, LLC

     1,300,000        7.16     0        1,300,000        0        1,300,000  

Carnelian Energy Capital II, L.P.

     1,300,000        7.16     0        1,300,000        0        1,300,000  

Carnelian Energy Capital GP II, L.P.

     1,300,000        7.16     0        1,300,000        0        1,300,000  

Carnelian Energy Capital Holdings, LLC

     1,300,000        7.16     0        1,300,000        0        1,300,000  

Tomas Ackerman

     1,300,000        7.16     0        1,300,000        0        1,300,000  

Daniel Goodman

     1,300,000        7.16     0        1,300,000        0        1,300,000  

SandPoint Operating, LLC is the record holder of the shares of Common Stock reported herein.

SandPoint Operating, LLC is wholly-owned by SandPoint Resources Management, LLC, which is controlled by SandPoint Resources, LLC (“SandPoint Resources”). SandPoint Resources is controlled by CEC SandPoint Holdings, LLC, which in turn is controlled by Carnelian Energy Capital II, L.P. (“Carnelian Fund II”), its sole member. Carnelian Fund II is controlled by its general partner, Carnelian Energy Capital GP II, L.P. (“Carnelian L.P.”). Carnelian L.P. is controlled by its general partner, Carnelian Energy Capital Holdings, LLC (“Carnelian Holdings”). Messrs. Tomas Ackerman and Daniel Goodman are the controlling members of Carnelian Holdings. As a result of the foregoing relationships, each of the Reporting Persons may be deemed to have shared voting and investment power with respect to the shares of Common Stock held by SandPoint Operating, LLC.

 

ITEM 5.

Ownership of Five Percent or Less of a Class.

Not applicable.


CUSIP No. 82836G102    Schedule 13G    Page 12 of 15

 

ITEM 6.

Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.

 

ITEM 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

Not applicable.

 

ITEM 8.

Identification and Classification of Members of the Group.

Not applicable.

 

ITEM 9.

Notice of Dissolution of Group.

Not applicable.

 

ITEM 10.

Certification.

Not applicable.


CUSIP No. 82836G102    Schedule 13G    Page 13 of 15

 

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: May 16, 2022

 

SandPoint Operating, LLC
By:  

/s/ Erik Hanson

Name: Erik Hanson
Title:   Officer
SandPoint Resources Management, LLC
By:  

/s/ Erik Hanson

Name: Erik Hanson
Title:   Officer
SandPoint Resources, LLC
By:  

/s/ Erik Hanson

Name: Erik Hanson
Title:   Officer
CEC SandPoint Holdings, LLC
By:   Carnelian Energy Capital II, L.P.
By:   Carnelian Energy Capital GP II, L.P., its General Partner
By:   Carnelian Energy Capital Holdings, LLC, its General Partner
By:  

/s/ Tomas Ackerman

Name: Tomas Ackerman
Title:     Managing Member
By:  

/s/ Daniel Goodman

Name: Daniel Goodman
Title:     Managing Member
Carnelian Energy Capital II, L.P.
By:   Carnelian Energy Capital GP II, L.P., its General Partner
By:   Carnelian Energy Capital Holdings, LLC, its General Partner


CUSIP No. 82836G102    Schedule 13G    Page 14 of 15

 

By:  

/s/ Tomas Ackerman

Name: Tomas Ackerman
Title:   Managing Member
By:  

/s/ Daniel Goodman

Name: Daniel Goodman
Title:   Managing Member
Carnelian Energy Capital GP II, L.P.
By:   Carnelian Energy Capital Holdings, LLC, its General Partner
By:  

/s/ Tomas Ackerman

Name: Tomas Ackerman
Title:   Managing Member
By:  

/s/ Daniel Goodman

Name: Daniel Goodman
Title:   Managing Member
Carnelian Energy Capital Holdings, LLC
By:  

/s/ Tomas Ackerman

Name: Tomas Ackerman
Title:   Managing Member
By:  

/s/ Daniel Goodman

Name: Daniel Goodman
Title:   Managing Member

/s/ Tomas Ackerman

Tomas Ackerman

/s/ Daniel Goodman

Daniel Goodman


CUSIP No. 82836G102    Schedule 13G    Page 15 of 15

 

LIST OF EXHIBITS

 

Exhibit No.

  

Description

99    Joint Filing Agreement.
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