Crescent Energy, a differentiated U.S. energy company, is acquiring SilverBow Resources, a Houston energy company engaged in the exploration, development and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas, for $2.1 billion.
The transaction will create a scaled company with a balanced portfolio of high-quality, long-life assets, an attractive, returns-driven financial framework and a strong balance sheet. The combined company will be the second-largest operator in the Eagle Ford, with a broader portfolio of roughly 250,000 barrels of oil equivalent per day of low-decline, long-life production and a deep, high-quality inventory that supports compelling returns through cycles.
The combined company also will have the investing and operating expertise, the balance sheet strength and the capital markets access necessary to continue executing on Crescent’s strategy of free cash flow and prudent growth through disciplined, returns-driven M&
