Crescent Energy Closes $2.1B SilverBow Deal
Transaction Type
Sellers
Buyers
Field
Eagle Ford Shale
Announce Date
Post Date
Close Date
Estimated Price
2100BB
Description
Crescent Energy closed an acquisition of SilverBow Resources on July 30, creating the second-largest operator in the Eagle Ford Shale.
SilverBow had around 220,000 net acres in the western Eagle Ford. The company’s production averaged 91,400 boe/d (46% oil/liquids) during the first quarter.
Crescent had approximately 231,000 net acres across its Eagle Ford portfolio. Net Eagle Ford volumes reached nearly 16.2 MMboe in 2023, or an average of 44,358 boe/d. Crescent also has a footprint of assets in Utah’s Uinta Basin.
When the $2.1 billion transaction was announced in May, Crescent expected production across its broader portfolio to reach roughly 250,000 boe/d.