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Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Schedule of Subsequent Events
Subsequent Events. We have evaluated subsequent events requiring potential accrual or disclosure in our condensed consolidated financial statements. Effective April 12, 2022, the Company entered into the Ninth Amendment to its First Amended and Restated Senior Secured Revolving Credit Agreement (as defined below), in conjunction with our regularly scheduled borrowing base redetermination. The Ninth Amendment increased the borrowing base of our Credit Facility (as defined below) from $460.0 million to $525.0 million. See Note 6 for more information on the Ninth Amendment to the Credit Facility.

On April 13, 2022, SilverBow entered into a definitive agreement (the “Purchase Agreement”) with Sundance Energy, Inc. and certain affiliated entities (collectively, “Sundance”), to acquire oil and gas assets in the Eagle Ford (the “Sundance Transaction”). Consideration for the Sundance Transaction includes approximately $225 million in cash and 4.1 million shares of common stock of SilverBow. As part of the Purchase Agreement, the purchase price will be reduced by $16.5 million related to SilverBow assuming Sundance's outstanding commodity derivatives positions. The Sundance Transaction also includes up to two earn-out payments of $7.5 million per year for each of 2022 and 2023, contingent upon the average monthly settlement price of NYMEX West Texas Intermediate crude oil exceeding $95 per barrel for the period from April 13, 2022 through December 31, 2022 and $85 per barrel for 2023. The Sundance Transaction is expected to close in June or July 2022. The closing of the transaction is subject to SilverBow shareholder approval and satisfaction or waiver of customary closing conditions.

As provided for in the Purchase Agreement, if Sundance has the right to terminate the Purchase Agreement due to SilverBow’s material breach of its representations, warranties or covenants or failure to deliver closing deliverables then Sundance may (a) seek all remedies available at law, including specific performance, or (b) terminate the Purchase Agreement and collect the deposit as liquidated damages. If SilverBow has the right to terminate the Purchase Agreement due to Sundance’s material breach of their respective representations, warranties or covenants or failure to deliver closing deliverables, then SilverBow shall have the right, as its sole and exclusive remedy, to terminate the Purchase Agreement, receive the deposit back and collect a termination fee in the amount of $3.2 million as liquidated damages. If the Purchase Agreement is terminated by Sundance prior to the special meeting and shareholder approval in the event of a Change in Recommendation (as defined in the Purchase Agreement), then Sundance shall be entitled to collect $3.2 million from the deposit as liquidated damages. The
remaining deposit will be returned to SilverBow. If the Purchase Agreement is terminated for any other reason, SilverBow will receive the deposit back

On April 13, 2022, the Company also entered into a definitive agreement to acquire oil and gas assets in the Eagle Ford from SandPoint Operating, LLC, a subsidiary of SandPoint Resources, LLC (collectively, “SandPoint,”) for a total purchase price consisting of $31 million in cash, subject to customary closing adjustments and 1.3 million shares of SilverBow common stock. The SandPoint acquisition is expected to close in May 2022.

Through April 30, 2022, the Company entered into additional derivative contracts. The following tables summarize the weighted-average prices as well as future production volumes for our future derivative contracts entered into after March 31, 2022:
Oil Derivative Contracts
(New York Mercantile Exchange (“NYMEX”) West Texas Intermediate (“WTI”) Settlements)		Total Volumes
(Bbls)		Weighted-Average Price
Swap Contracts
2022 Contracts
3Q2246,000 $99.40 
4Q2276,500 $96.62 
2023 Contracts
1Q2367,500 $93.13 
2Q2345,500 $90.05 
3Q2346,000 $87.60 
4Q2392,000 $85.73 
2024 Contracts
1Q2491,000 $83.50 
2Q24113,750 $81.80 
3Q24115,000 $79.96 
4Q24115,000 $78.36 
Natural Gas Derivative Contracts
(NYMEX Henry Hub Settlements)		Total Volumes
(MMBtu)		Weighted-Average PriceWeighted-Average PriceWeighted-Average Collar Call Price
Swap Contracts
2022 Contracts
3Q22920,000 $7.19 
4Q22920,000 $7.30 
2023 Contracts
1Q23900,000 $7.12 
2Q231,820,000 $4.68 
3Q232,760,000 $4.67 
4Q233,680,000 $4.84 
2024 Contracts
1Q24546,000 $4.95 
2Q245,005,000 $3.87 
3Q245,060,000 $3.94 
4Q245,060,000 $4.21 
Collar Contracts
2023 Contracts
1Q23900,000 $6.00 $13.85 
2Q231,820,000 $3.88 $4.75 
3Q231,840,000 $3.88 $4.77 
4Q231,840,000 $3.88 $5.28 
2024 Contracts
1Q241,820,000 $4.00 $6.00 

NGL Swaps (Mont Belvieu)Total Volumes
(Bbls)		Weighted-Average Price
2022 Contracts
3Q2276,500 $42.92 
4Q2292,000 $42.92 
2023 Contracts
1Q23180,000 $34.99 
2Q23182,000 $34.99 
3Q23184,000 $34.99 
4Q23184,000 $34.99 
2023 Contracts
1Q24127,400 $29.39 
2Q24127,400 $29.39 
3Q24128,800 $29.39 
4Q24128,800 $29.39 

There were no other material subsequent events requiring additional disclosure in these condensed consolidated financial statements.
Property and Equipment
The “Property and Equipment” balances on the accompanying condensed consolidated balance sheets are summarized for presentation purposes. The following is a detailed breakout of our “Property and Equipment” balances (in thousands):
March 31, 2022December 31, 2021
Property and Equipment  
Proved oil and gas properties$1,621,948 $1,588,978 
Unproved oil and gas properties23,623 17,090 
Furniture, fixtures and other equipment5,926 5,885 
Less – Accumulated depreciation, depletion, amortization & impairment(891,158)(869,985)
Property and Equipment, Net$760,339 $741,968 
Disaggregation of Revenue
The following table provides information regarding our oil and gas sales, by product, reported on the Condensed Consolidated Statements of Operations for the three months ended March 31, 2022 and 2021 (in thousands):
Three Months Ended March 31, 2022Three Months Ended March 31, 2021
Oil, natural gas and NGLs sales:
Oil$39,741 $17,466 
Natural gas77,372 62,914 
NGLs12,543 6,361 
Total$129,656 $86,741 
Accounts Payable and Accrued Liabilities The “Accounts payable and accrued liabilities” balances on the accompanying condensed consolidated balance sheets are summarized below (in thousands):
 March 31, 2022December 31, 2021
Trade accounts payable$9,862 $9,688 
Accrued operating expenses4,261 4,192 
Accrued compensation costs1,717 7,029 
Asset retirement obligations – current portion526 524 
Accrued non-income based taxes6,003 3,314 
Accrued corporate and legal fees2,275 1,972 
Payable for settled derivatives14,970 6,371 
Other payables2,295 1,944 
Total accounts payable and accrued liabilities$41,909 $35,034