SilverBow Resources, Inc. (NYSE:SBOW) Q3 2022 Results Conference Call November 3, 2022 10:00 AM ET

Company Participants

Jeff Magids - Senior Manager, Finance & IR

Sean Woolverton - CEO & Director

Steve Adam - EVP & COO

Chris Abundis - EVP, CFO, General Counsel & Secretary

Conference Call Participants

Neal Dingmann - Truist Securities

Charles Meade - Johnson Rice

Tim Rezvan - KeyBanc Capital Markets

Donovan Schafer - Northland Capital Markets

Operator

Thank you for standing by. At this time, I would like to welcome everyone to the SilverBow Resources Third Quarter 2022 Earnings Conference Call. All lines have been placed on mute t prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

Jeff Magids, Director of Finance and Investor Relations. You may begin your conference.

Jeff Magids

Thank you, Cheryl, and good morning, everyone. Thank you very much for joining us for our third quarter 2022 conference call. With me on the call today are Sean Woolverton, our CEO; Steve Adam, our COO; and Chris Abundis, our CFO.

Yesterday afternoon, we posted a new corporate presentation to our website and we'll occasionally refer to it during this call. We encourage listeners to download the latest materials.

Please note that we may make references to certain non-GAAP financial measures, which are reconciled to their closest GAAP measure in the earnings press release. Our discussion today may include forward-looking statements which are subject to risks and uncertainties, many of which are beyond our control. These risks and uncertainties are described more fully in our documents on file with the SEC, which are also available on our website.

With that, I will now turn the call over to Sean.

Sean Woolverton

Thank you, Jeff, and thank you, everyone, for joining our call this morning. SilverBow continues to execute on both our organic drilling program and our accretive A&D strategy. The third quarter marked a key inflection point in our growth strategy.

During the quarter, we announced our sixth and seventh acquisitions since August of last year. And operationally, we focused on the addition of a second drilling rig in the integration of the Sundance assets. We have added significant scale through acquisitions and high-return drilling over the last 18 months, and going forward, SilverBow is primed for further growth.

Before I lay out our multiyear strategic objectives, I would like to briefly review some notable highlights since our last call. In September, we announced a new 7,500 net acre position in the dry gas Dorado window of Webb County. This was the culmination of a series of bolt-on acquisitions, leasing deals and drill-to-earn agreements assembled over the last year.