Monday’s $700 million deal between Okla. City-based Chesapeake Energy and Houston-based SilverBow Resources may not be a history maker among the billion-dollar deals we’ve seen this year, but don’t tell that to SilverBow’s CEO. On the heels of what he describes as a transformational acquisition,Sean Woolverton no doubt had quite a compelling story to share at today’s EnerCom Denver Conference and its expected 1,500 investors from around the world.

Reese Energy Consulting today is following the latest from both E&Ps now that one has bid so long to the Eagle Ford and Austin Chalk, and the other has cinched the title of largest public pure player there. Back in 2018, Chesapeake’s $4 billion acquisition of WildHorse created a South Texas powerhouse, growing the company’s Eagle Ford position to 655,000 acres and 150 MBOED (60% oil). But a shift in strategy came last August when Chesapeake announced its farewell to the Eagle Ford to focus exclusively on natural gas and its Marcellus and Haynesville operations.

As the third and final buyer this year of Chesapeake’s South Texas assets, SilverBow also looks to fare well, adding 42,000 net acres in the Eagle Ford’s liquids-heavy window to its current 180,000. The company expects combined production up to 99 MBOED in 4Q. SilverBow’s latest acquisition—its eighth in two years—also increases the company’s size by 50% while offering a platform for more South Texas opportunities where it can turn silver into gold. What do you think?