SilverBow Resources Highlights Successful Implementation of Strategy

Source: 3/28/2024, Location: North America

SilverBow Resources, Inc. (NYSE: SBOW) (“SilverBow”) filed its preliminary proxy statement with the U.S. Securities and Exchange Commission in connection with the Company’s 2024 annual meeting of shareholders (the “2024 Annual Meeting”).

Also in connection with the 2024 Annual Meeting, SilverBow today sent a letter to its shareholders highlighting:

- The successful implementation of the Company’s strategy to drive positive business momentum and deliver substantial shareholder value;
Recent governance enhancements that the Company has made and that the SilverBow Board of Directors (the “Board”) is proposing at the 2024 Annual Meeting to serve shareholders’ best interests;
- SilverBow’s extensive history of engagement with Kimmeridge Energy Management Company, LLC (“Kimmeridge”) to find a path toward a value-creating transaction for ALL SilverBow shareholders;
- The Board’s decision to NOT nominate the nominees put forth by Kimmeridge following a comprehensive, independent process by the Board’s Nominating and Strategy Committee;
- The Board’s conclusion, after consultation with its independent financial and legal advisors, that Kimmeridge’s most recent proposal substantially undervalues SilverBow. The Board believes it is vital to conduct due diligence on Kimmeridge Texas Gas (“KTG"), as the Board and shareholders need relevant information to determine the actual value, not Kimmeridge’s assertion of value, of the KTG assets; and
- The Board’s commitment to delivering value for ALL shareholders, including continuing to engage with Kimmeridge regarding its proposed transaction.

Materials related to the 2024 Annual Meeting, including a fact sheet outlining the Company’s observations on what it believes are false claims made by Kimmeridge, are available at

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