SilverBow Resources Inc. agreed to acquire Sundance Energy Inc. and key assets of SandPoint Operating LLC, a pair of Eagle Ford Shale oil and gas independents, for up to $440 million in total.

Houston-based SilverBow, an Eagle Ford pure-play, said Friday it would pay $354 million – plus up to $15 million of contingent payments based on future commodity prices – to buy substantially all of the assets of Sundance Energy Inc. and certain affiliated entities.

The transaction, expected to close in the third quarter, has been approved by the boards of both companies.  

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SilverBow simultaneously announced a $71 million deal to acquire certain...