SilverBow’s $71 Million Acquisition of SandPoint Operating

Latham & Watkins represented SandPoint in the transaction.

SilverBow has entered into a definitive agreement to acquire substantially all of the assets of SandPoint Operating, LLC, a subsidiary of SandPoint Resources, LLC, for a total purchase price of $71 million. The assets are located in La Salle and McMullen counties, Texas.

The SandPoint transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in the second quarter of 2022, subject to customary closing conditions.

SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy company actively engaged in the exploration, development, and production of oil and gas in the Eagle Ford Shale and Austin Chalk in South Texas. With over 30 years of history operating in South Texas, the Company possesses a significant understanding of regional reservoirs which it leverages to assemble high quality drilling inventory while continuously enhancing its operations to maximize returns on capital invested.

SandPoint Resources, LLC is an independent oil & gas company formed in 2018 and headquartered in San Antonio, Texas. The management team has partnered with Houston-based Carnelian Energy Capital Management, L.P. to acquire and develop upstream oil and gas assets in select onshore North American basins.

Latham & Watkins represented SandPoint in the transaction with a corporate deal team led by Houston partners Justin Stolte (Picture) and John Greer, with associates Ashley Nguyen, Jordan Mack, Brea Buck, and Morgen Seim. Advice was also provided on tax matters by Houston partner Jim Cole, with associate Emily Fawcett; and on environmental matters by Los Angeles counsel Joshua Marnitz.

Involved fees earner: Brea Buck – Latham & Watkins; Jim Cole – Latham & Watkins; Emily Fawcett – Latham & Watkins; John Greer – Latham & Watkins; Jordan Bartley Mack – Latham & Watkins; Joshua Marnitz – Latham & Watkins; Ashley Nguyen – Latham & Watkins; Morgen Seim – Latham & Watkins; Justin Stolte – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: SandPoint Operating;