SilverBow Resources pays down revolver debt, reduces borrowing base

By Sarah Lizee

Olympia, Wash., Dec. 18 – SilverBow Resources, Inc. paid down borrowings under its revolving credit facility using proceeds from an offering of $200 million senior secured second-lien notes due 2024, according to a press release.

In connection with the offering, the borrowing base under the revolver was automatically reduced to $330 million from $370 million.

SilverBow is a Houston-based oil and gas exploration and production company focused on the Eagle Ford shale.

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