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

Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company"), today announced that leading independent proxy advisory firms, Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"), recommend that Crescent shareholders vote "FOR" the approval of the issuance of shares of Crescent Class A common stock in connection with the Company's pending merger with SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow"). Additionally, ISS and Glass Lewis have recommended in separate reports that SilverBow shareholders vote "FOR" the adoption of the merger agreement in respect of the pending merger. "The recommendations from ISS and Glass Lewis reinforce our belief that this a

Crescent Energy Company (NYSE:CRGY) ("Crescent") and SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow") jointly announced today that, in connection with Crescent's pending acquisition of SilverBow (the "Transaction"), the deadline for holders of SilverBow's common stock to elect the form of merger consideration they wish to receive in the Transaction, as described in more detail below, has been set for 5:00 p.m. Central Time on July 24, 2024 (such deadline, as it may be extended, the "Election Deadline"). The Election Deadline is based on Crescent's and SilverBow's expectation that the Transaction will close on July 30, 2024, subject to the approval of stockholders of each of Crescent and

Crescent Energy Company (NYSE:CRGY) ("Crescent" or the "Company") and SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow") today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act"), in connection with Crescent's pending acquisition of SilverBow. The expiration of the waiting period under the HSR Act satisfies an important condition necessary for the completion of the transaction. Meetings of the stockholders of each of Crescent and SilverBow are scheduled for July 29, 2024 at 10:00 am Central Time for stockholders of record as of June 28, 2024. The details of each special meeting, including the terms of the propose

SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or the "Company") today announced that SilverBow shareholders have voted to re-elect all three of the Company's director nominees – Gabriel L. Ellisor, Kathleen McAllister and Charles W. Wampler, based on the preliminary vote count provided by its proxy solicitor following the Company's 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"). The Company issued the following statement: We thank our shareholders for their input and support. SilverBow remains focused on operating efficiently and safely while working towards completing its recently announced agreement to combine with Crescent Energy Company. The final certified v

NEW YORK and DENVER, May 22, 2024 /PRNewswire/ -- Kimmeridge, an alternative asset manager focused on the energy sector and the largest shareholder of SilverBow Resources (NYSE:SBOW) ("SilverBow" or the "Company"), today announced the withdrawal of its independent nominees to SilverBow's Board of Directors (the "Board") in light of the Company's pending sale to Crescent Energy. Ben Dell, Co-Founder and Managing Partner of Kimmeridge, said, "While we are disappointed that SilverBow's Board does not appear to have run a comprehensive sales process, our campaign was always underp

SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or the "Company") today announced that the Company intends to adjourn, without commencing any business, its 2024 Annual Meeting of Shareholders (the "Meeting"), which was scheduled for May 21, 2024, at 10:00 a.m. CT (11:00 a.m. ET), until May 29, 2024, at 10:00 a.m. CT (11:00 a.m. ET). The record date of March 22, 2024, and the proposals to be voted on at the Meeting remain unchanged. Shareholders who have voted do not need to recast their votes, and proxies previously submitted in respect of the Meeting will be voted at the adjourned meeting unless properly revoked. The decision to adjourn follows the Company's announcement that it has e

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

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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

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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

Citigroup initiated coverage of SilverBow Resources with a rating of Neutral and set a new price target of $34.00

Pickering Energy Partners initiated coverage of SilverBow Resources with a rating of Neutral

KeyBanc Capital Markets initiated coverage of SilverBow Resources with a rating of Overweight and set a new price target of $58.00

Truist Securities upgraded SilverBow Resources from Hold to Buy and set a new price target of $30.00 from $22.00 previously

Truist upgraded SilverBow Resources from Hold to Buy

Johnson Rice upgraded SilverBow Resources from Accumulate to Buy

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

Files Investor Presentation and Sends Letter to Shareholders Highlighting Track Record of Profitable Growth 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 released an investor presentation and mailed a letter to shareholders in connection with the Company's 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"). Both will be filed with the U.S. Securities and Exchange Commission. Additional company resources for the 2024 Annual Meeting can be found at www.futureofsilverbow.com. Highlights include: SilverBow Has a Strong Track Record of Ou

SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or "the Company") announced today it will release financial and operating results for first quarter 2024 and post an updated corporate presentation after market close on Wednesday, May 1, 2024. SilverBow will host a conference call to discuss its results on Thursday, May 2, 2024 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Dial-In:     1-800-715-9871 (U.S.) 1-646-307-1963 (International) Request SilverBow Resources First Quarter 2024 Earnings Conference Call Conference ID: 5582880 Webcast:     Live and rebroadcast over the internet at:       https://events.q4inc.com

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 announced that it has filed its definitive proxy materials with the U.S. Securities and Exchange Commission (the "SEC") in connection with the Company's 2024 Annual Meeting of Shareholders (the "2024 Annual Meeting"), scheduled to be held on May 21, 2024. Shareholders of record as of March 22, 2024, will be entitled to vote at the meeting. In conjunction with the definitive proxy filing, the Company has mailed a letter to SilverBow shareholders recommending they vote for SilverBow's three independent, highly qua

2023 performance advances business strategy with strong free cash flow generation, efficient production growth and lower than expected capital investments 2024 outlook to benefit from recent transformational acquisition that brings efficient, high-margin production, product diversification, additional capital efficiencies, free cash flow generation and balance sheet flexibility SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or "the Company") today announced operating and financial results for the fourth quarter and full year 2023. Supplemental slides have been posted to SilverBow's website and can be accessed at www.sbow.com. The Company plans to host a conference call at 9 a.m. CT

SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or "the Company") announced today it will release financial and operating results for fourth quarter and full year 2023 and post an updated corporate presentation after market close on Wednesday, February 28, 2024. SilverBow will host a conference call to discuss its results on Thursday, February 29, 2024 at 9:00 a.m. Central Time (10:00 a.m. Eastern Time). Dial-In:   1-888-415-4465 (U.S.) 1-646-960-0140 (International) Request SilverBow Resources Fourth Quarter and Full Year 2023 Earnings Conference Call Conference ID: 5410161   Webcast:   Live and rebroadcast over

SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or "the Company") announced today it has been awarded a Top Workplaces 2023 honor by the Houston Chronicle. The list is based solely on employee feedback gathered through a third-party survey administered by employee engagement technology partner Energage LLC. The confidential survey uniquely measures 15 culture drivers that are critical to the success of any organization. Sean Woolverton, SilverBow's Chief Executive Officer, commented, "We are proud to be recognized as a Top Workplace by the Houston Chronicle for a fourth consecutive year. SilverBow strives to promote a strong company culture and enhance employee well-being, all the whil

Announced agreement to acquire certain South Texas assets from Chesapeake for $700 million Third quarter net production above high end of guidance; Oil production increased 23% quarter-over-quarter Reduced total debt by $78 million quarter-over-quarter Increased full year 2023 free cash flow guidance to $20-$40 million SilverBow Resources, Inc. (NYSE:SBOW) ("SilverBow" or the "Company") today announced operating and financial results for the third quarter of 2023. Highlights include: Reported net production of 357 million cubic feet of natural gas equivalent per day ("MMcfe/d") (61% natural gas) for the third quarter of 2023, above the high end of guidance Third quarter net oi