SilverBow Resources, Inc. (SBOW) has been presented with a proposition from Kimmeridge Energy Management regarding a potential deal between the company and Kimmeridge Texas Gas. The proposal from Kimmeridge Energy Management involves contributing the assets of Kimmeridge Texas Gas along with $500 million in cash in return for shares released by the amalgamated entity. If this proposal is executed, Kimmeridge Energy Management could end up controlling a supermajority of the merged company, leaving the remaining shares to public shareholders.
The proposal is now under review by the SilverBow Board to decide the next steps.
