On 22 April 2024, SilverBow Resources announced that it had issued a letter to shareholders in connection with the Company's 2024 Annual Meeting of Shareholders summarizing (i) the Company's observations on data recently disclosed by Kimmeridge Energy Management Company about Kimmeridge Texas Gas KTG, (ii) finding that Kimmeridge significantly overvalued KTG, (iii) its proposal would have been massively dilutive to the Company's shareholders, (iv) the KTG assets were of much lower quality than the Company's, and (v) the information KTG released showed it was pursuing a value-destructive, natural gas-focused growth plan. Kimmeridge stated that it was continuing its proxy fight so that its compromised, conflicted nominees could force a combination that would destroy the Company's shareholder value, while the Company's independent director nominees would ensure that value is maximized for all the Company's shareholders.