Less than one month after expanding its holdings in South Texas, SilverBow Resources Inc. is adding about 5,500 net acres to build its natural gas and oil portfolio in the Eagle Ford Shale and Austin Chalk.
The Houston-based independent clinched the $87 million transaction with an undisclosed seller. The package “provides extended lateral lengths, increased drilling locations and enhanced returns for our optimized development program,” CEO Sean Woolverton said.

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“This transaction fits our disciplined growth strategy of adding production at attractive valuations and increasing our high-quality inventory across both the Eagle Ford and Austin Chalk formations. The acquisition is a mix of incremental working interest on our existing acreage, as well as new adjacent...