SBOW - Kimmeridge May Have Withdrawn SilverBow Merger Proposal But The Battle Continues
2024-04-19 10:40:11 ET
Summary
- SilverBow Resources, Inc. is now projected to generate $176 million in 2024 free cash flow.
- It is helped by hedges, with around 75% of its natural gas production hedged.
- SilverBow may need to pay $50 million in contingent payments to Chesapeake based on current strip prices.
- Kimmeridge Energy Management withdrew its merger proposal, but is still attempting to get its nominees onto SilverBow's Board of Directors.
SilverBow Resources, Inc. ( SBOW ) has seen its stock go down recently amidst Kimmeridge Energy Management's withdrawal of its merger proposal and continued weakness in natural gas prices (NG1:COM). SilverBow revised its 2024 development plans in February to cut back on its dry gas development budget....
Kimmeridge May Have Withdrawn SilverBow Merger Proposal, But The Battle Continues