Citigroup initiated coverage on SilverBow Resources with a new price target

Transaction Expected to Close on July 30, 2024 SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or the "Company") today announced that, at a special meeting of stockholders earlier today (the "Special Meeting"), its stockholders voted to approve the previously announced acquisition of SilverBow by Crescent Energy Company ("Crescent") in a transaction valued at $2.1 billion. Sean Woolverton, SilverBow's Chief Executive Officer, said, "We appreciate the overwhelming support of our stockholders for this exciting transaction with Crescent, which delivers an attractive premium to our stockholders and will create a premier Eagle Ford oil and gas organization. We look forward to closing the

Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company"), today announced it received overwhelming stockholder approval for the issuance of Crescent Class A common stock in connection with its proposed merger (the "Merger") with SilverBow Resources Inc. (NYSE:SBOW) ("SilverBow") at a special meeting of stockholders today. The Merger is expected to close on July 30, 2024. "This decisive vote underscores strong support for the complementary transaction, which creates one of the largest operators in the Eagle Ford with high-quality and long-life assets, an attractive, returns-driven financial framework and strong balance sheet, led by a management team and Board with significant ope

Crescent Energy Company (NYSE:CRGY) ("Crescent") and SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow") jointly announced today the preliminary results of the elections made by holders of SilverBow common stock regarding the form of merger consideration to be received in connection with Crescent's pending acquisition of SilverBow (the "Transaction"). As further described in (a) the Agreement and Plan of Merger, dated as of May 15, 2024, by and among SilverBow, Crescent and the other parties thereto (the "Merger Agreement"), (b) the definitive joint proxy statement of Crescent and SilverBow and a prospectus of Crescent (the "Proxy Statement/Prospectus"), included in the registration state

ROTH MKM initiated coverage of SilverBow Resources with a rating of Buy and set a new price target of $41.00

Mizuho initiated coverage of SilverBow Resources with a rating of Buy and set a new price target of $40.00

KeyBanc Capital Markets downgraded SilverBow Resources from Overweight to Sector Weight

4 - SILVERBOW RESOURCES, INC. (0000351817) (Issuer)

4 - SILVERBOW RESOURCES, INC. (0000351817) (Issuer)

4 - SILVERBOW RESOURCES, INC. (0000351817) (Issuer)

4 - SILVERBOW RESOURCES, INC. (0000351817) (Issuer)

4 - SILVERBOW RESOURCES, INC. (0000351817) (Issuer)

4 - SILVERBOW RESOURCES, INC. (0000351817) (Issuer)

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EFFECT - SILVERBOW RESOURCES, INC. (0000351817) (Filer)

Proposes Significant Corporate Governance Enhancements Concludes Kimmeridge's Proposal Substantially Undervalues SilverBow; Believes Shareholders Need Relevant Information About KTG Asset Value Launches www.FutureOfSilverBow.com, Providing Additional Information for Shareholders Files Preliminary Proxy Statement and Sends Letter to Shareholders SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or the "Company") today 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

SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or "the Company") announced today that Leland "Lee" T. Jourdan has been appointed to the SilverBow Board of Directors (the "Board"), effective March 27, 2024. Mr. Jourdan's appointment is part of SilverBow's long-term and ongoing director search program conducted over the last 18 months with the assistance of a globally recognized search firm. Mr. Jourdan has deep experience in the oil and gas industry, and his leadership and accomplishments in promoting diversity, equity and inclusion ("DEI") have been widely recognized. He brings a demonstrated track record in international commercial and business development, mergers and acquisitions,

SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or "the Company") announced today that David Geenberg has stepped down from the Company's Board of Directors ("the Board") effective November 27, 2023. Mr. Geenberg, one of two directors nominated by Strategic Value Partners, LLC ("SVP"), has stepped down as a natural progression of SVP's sell down of its equity position in the Company. Under the current terms of the Director Nomination Agreement between SVP and the Company, SVP maintains the right to continue to designate one director nominee, subject to conditions on share ownership, which includes the right to remove and replace its remaining director nominee at any time. Marcus C. Row

Combined company to be the second largest operator in the Eagle Ford Creates leading mid-cap E&P with scaled, balanced portfolio of high-quality assets Substantial free cash flow generation with disciplined capital allocation framework Well-positioned for further growth through accretive, returns-driven M&A Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company") and SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow"), today announced that they have entered into a definitive agreement pursuant to which Crescent will acquire SilverBow in a transaction valued at $2.1 billion. The transaction will create a scaled company with a balanced portfolio of high-quality and long-life

Highlights Recent Investor Presentation Refuting Kimmeridge's Continued Misstatements Board Urges Shareholders to Vote "FOR" ALL of SilverBow's Highly Qualified Directors on the WHITE Proxy Card SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or the "Company") today mailed a letter to shareholders in connection with the Company's 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"). The letter will be filed with the U.S. Securities and Exchange Commission. Additional company resources for the 2024 Annual Meeting, including SilverBow's most recent investor presentation addressing continued misstatements by Kimmeridge Energy Management Company, LLC and facts about SilverBow'

Results top consensus expectations driven by higher production and lower capital expenditures generating record quarterly EBITDA and strong quarterly free cash flow Total debt reduced by $178 million since closing its South Texas acquisition in late 20231; First quarter 2024 leverage ratio of 1.35x2 lower than pre-acquisition announcement Year-to-date outperformance leads to increase in full-year production expectations and free cash flow outlook SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or the "Company") today announced operating and financial results for the first quarter of 2024. An updated corporate presentation has been posted to SilverBow's website and can be accessed a

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