SilverBow Resources is offering three million shares of its common stock to fund its pending acquisition of Chesapeake Energy Corp. ’s oil and gas assets in south Texas.
The offering is managed by Grey Rock Energy Management LLC, and Granite Ridge will not receive any proceeds from the sale.
Ovintiv said that NMB Stock Trust, which was issued the stock as part of a transaction, will receive all proceeds from the secondary offering.
Saudi Aramco is considering selling a stake worth as much as $50 billion through a secondary share offering on the Riyadh bourse before the end of the year.