SilverBow Resources Receives Proposal From Kimmeridge Energy Management - Quick Facts

(RTTNews) - SilverBow Resources, Inc. (SBOW) has received a proposal from Kimmeridge Energy Management with respect to a potential transaction between the company and Kimmeridge Texas Gas. Kimmeridge Energy Management proposed to contribute the assets of Kimmeridge Texas Gas and $500 million of cash in exchange for shares issued by the combined entity. Following the proposed transaction, Kimmeridge Energy Management would control a supermajority of the combined company, with the remaining shares held by public shareholders.

The SilverBow Board will review and consider the proposal to determine the course of action.