Our firm litigates and has recovered money for shareholders…and we do it from our offices in the Empire State Building. We are a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court. No company, director or officer is above the law. If you own common stock in any of the above listed companies and have concerns or wish to obtain additional information free of charge, please visit our website or contact Juan Monteverde, Esq. eithe ...

NEW YORK, July 2, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating SilverBow Resources, Inc. (NYSE: SBOW), relating to its proposed merger with Crescent Energy Company. Under the terms of the agreement, SilverBow shareholders will receive 3.125 shares of Cres ...

NEW YORK, June 14, 2024 (GLOBE NEWSWIRE) -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating SilverBow Resources, Inc. (NYSE: SBOW), relating to its proposed merger with Crescent Energy Company. Under the terms of the agreement, SilverBow shareholders will receive 3.125 shares of ...

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 t ...

Core Viewpoint - The proposed sale of SilverBow Resources, Inc. to Crescent Energy Company is under investigation to assess whether the transaction adequately values SilverBow and the process leading to this valuation [1]. Group 1: Transaction Details - Shareholders of SilverBow will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow [1]. - There is an option for shareholders to elect to receive all or a portion of the proceeds in cash at a value of $38 per share, with a maximum total cash consideration of $400 million [1]. Group 2: Legal Investigation - Kahn Swick & Foti, LLC is investigating the proposed sale to determine if the consideration is adequate or if it undervalues SilverBow [1]. - The firm is inviting shareholders who believe the transaction undervalues the company to discuss their legal rights regarding the proposed sale [2].

NEW YORK, May 16, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and is investigating SilverBow Resources, Inc. (NYSE: SBOW), relating to its proposed merger with Crescent Energy Company. Under the terms of the agreement, SilverBow shareholders will receive 3.125 shares of Cresc ...

NEW YORK, May 16, 2024 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to: SilverBow Resources, Inc. (NYSE: SBOW)'s sale to Crescent Energy Company. Under the terms of the proposed transaction, SilverBow shareholders would receive 3.125 shares of Crescent Class A common stock for each share of SilverBow common stock, with the option to e ...

MILWAUKEE, May 16, 2024 /PRNewswire/ -- Ademi LLP is investigating SilverBow (NYSE: SBOW) for possible breaches of fiduciary duty and other violations of law in its transaction with Crescent Energy. Click here to learn how to join the https://www.ademilaw.com/case/silverbow-resources-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you. In the transaction, SilverBow stockholders will receive only 3.125 shares of Crescent Class A common stock for each share of SilverBow com ...

Financial Data and Key Metrics Changes - The company generated $56 million in free cash flow, significantly higher than the original forecast, driven by capital efficiencies and strong production and pricing [14][15] - The leverage ratio has improved to the same level as before the South Texas acquisition, with expectations to exit the year at approximately 1.25 times and to achieve less than one times leverage in 2025 [18][33] Business Line Data and Key Metrics Changes - The company has seen strong well productivity from recent pad developments and a successful refrac program, leading to increased production expectations for 2024 [15][19] - Capital investments in the quarter were lower than planned, with unchanged expectations for full-year capital investments, indicating effective capital discipline [16] Market Data and Key Metrics Changes - The company has assembled a contiguous 25,000-acre position in the liquids window of the Eagle Ford, which is expected to enhance margins and production potential [11][27] - Recent wells in the acquired areas have delivered rates of return greater than 100%, indicating strong market performance [27] Company Strategy and Development Direction - The company is focusing on maximizing free cash flow and strengthening its balance sheet by reducing investments in dry gas and concentrating on profitable liquids development [8][9] - The strategy includes enhancing operational efficiency and capital discipline while exploring potential acquisitions to build a durable portfolio [25][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to close the value gap in its equity through operational excellence and strategic acquisitions [34] - The company is committed to maintaining a strong balance sheet and generating free cash flow, with a target of less than one times leverage by 2025 [33] Other Important Information - The company is proposing governance changes to enhance shareholder value, including declassifying the Board and adopting a majority voting standard [28][29] - The management emphasized the importance of shareholder engagement and transparency in light of ongoing proxy contests [30][31] Q&A Session All Questions and Answers Question: Impact of acreage trade on drilling plans - Management confirmed that the acreage trade allowed for reallocating capital to higher rate of return projects without adding to the overall capital plan [38][39] Question: Hedging strategy as the company approaches leverage goals - The company has layered on incremental hedges and is approximately 75% hedged for 2024, with plans to be opportunistic in hedging as they approach 2025 [41] Question: Confidence in refrac program performance - Management highlighted that initial refrac results have shown steady production, with proactive measures in place to prevent decline [43][49] Question: Well design and productivity improvements - The company has improved well designs and completion techniques, leading to significant productivity uplifts compared to historical performance [46][50] Question: Views on Kimmeridge Texas Gas acquisition proposal - Management believes the proposed deal undervalues SilverBow and is committed to pursuing value-adding opportunities that align with shareholder interests [53] Question: Closing the value gap without M&A - The company is focused on demonstrating strong cash flow capabilities and maintaining a disciplined approach to capital allocation to attract investor interest [58] Question: Production guidance adjustments - Management raised production guidance based on strong base performance, capital efficiencies, and successful well completions [59] Question: Governance and poison pill strategy - The poison pill is set to expire after the upcoming shareholder meeting, and management believes it has facilitated negotiations rather than restricted them [60]

Production and Revenue - SilverBow's average net production for Q1 2024 increased by 80% year-over-year to 91.4 MBoe/d, with oil production rising nearly 116% to 24.5 thousand barrels per day [126]. - The company's oil and gas revenues for Q1 2024 were $256.7 million, a 83% increase from $140.0 million in Q1 2023, primarily driven by increased production volumes from the South Texas Acquisition [134]. - The production volume increase from the South Texas Acquisition was approximately 2,500 MBoe, contributing to the overall revenue growth [137]. Financial Performance - SilverBow reduced its total debt by $178 million to $1.4 billion as of April 30, 2024, following a strategic shift in capital investments towards liquids-rich development [127]. - Average realized prices for oil in Q1 2024 were $74.65 per barrel, while natural gas prices dropped to $1.96 per Mcf, reflecting a significant price variance impact [139]. - General and administrative expenses per Boe decreased to $1.06 in Q1 2024 from $1.68 in Q1 2023, attributed to increased production [142]. - Interest costs rose significantly to $36.0 million in Q1 2024 from $16.7 million in Q1 2023, primarily due to higher borrowings and interest rates [147]. - The company recorded an income tax benefit of $4.8 million in Q1 2024, contrasting with an income tax provision of $26.8 million in Q1 2023 [148]. Capital Expenditures and Investments - The company drilled, completed, and brought online 12 net wells in Q1 2024, with capital investments totaling $109 million [128]. - As of March 31, 2024, SilverBow's liquidity included $1.4 million in cash and $604 million available under its $1.2 billion Credit Facility, supporting a capital budget of $470 - $510 million for 2024 [130]. - SilverBow plans to operate three drilling rigs through May 2024, then reduce to two rigs, optimizing its drilling schedule based on commodity prices and returns on investment [129]. Expenses and Costs - Transportation and processing expenses on a per-Boe basis increased to $4.23 for Q1 2024 from $2.53 in Q1 2023, attributed to additional agreements from the 2023 acquisition [145]. - Severance and other taxes on a per-Boe basis decreased to $1.95 in Q1 2024 from $2.06 in Q1 2023, with a percentage of oil and gas sales at approximately 6.3% for Q1 2024 compared to 6.7% for Q1 2023 [146]. Debt and Interest Rate Exposure - As of March 31, 2024, the company had $1.1 billion drawn under its Credit Facility and Second Lien Notes, which are subject to interest rate fluctuations [154]. - A hypothetical one percentage point increase in interest rates would raise annual interest expenses by $11.0 million based on current borrowings [154]. Risk Management - The company is exposed to commodity pricing volatility, which affects realized prices for oil and natural gas production [150]. - The company maintains a price risk management policy utilizing financial instruments to mitigate price fluctuations in oil and natural gas [151]. - A significant portion of oil and gas sales is made to Kinder Morgan, Inc. and its affiliates, with expectations to continue this relationship [153]. Accounting and Controls - There were no changes in critical accounting policies or internal controls over financial reporting during the three months ended March 31, 2024 [149][157].