HOUSTON–(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.