SilverBow Resources reports Q2 EPS $1.10, consensus $1.60

Reports Q2 revenue $126.4M, consensus $137.43M. Sean Woolverton, SilverBow’s CEO commented, “Strong performance from our oil assets drove second quarter net oil production above our guidance range. The impact of our oil focused development program is illustrated through our second quarter revenue mix, of which approximately 75% was attributable to oil and NGLs compared to less than 33% a year ago. In conjunction with our oil growth, we are seeing significant efficiency gains and cost savings in our capital program, as such, allowing us to lower our 2023 capital budget guidance by over 10% for the year.”