SilverBow Resources Announces Appointment of Ellen R. DeSanctis to the Board of Directors; David Geenberg Stepping Down
November 27 2023 - 9:00AM
Business Wire
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. Rowland, Independent Chairman of the Board, commented,
“It has been a pleasure working with David over the past seven
years. On behalf of the entire Board and management team, I would
like to thank him for his dedication and valuable contributions to
SilverBow. David’s business acumen and insights have been extremely
valuable to the Company, and we wish him the very best in his
future endeavors.”
The Company also announced today that Ellen R. DeSanctis has
been appointed to the Board also effective November 27, 2023. Ms.
DeSanctis joins the Board as independent director following a
comprehensive search process prior to Mr. Geenberg stepping down,
conducted with the assistance of a nationally recognized search
firm, to complement the Board’s existing credentials and
qualifications.
Mr. Rowland remarked, “I am very pleased to welcome Ellen to our
Board of Directors. She brings immense knowledge to SilverBow as an
experienced leader in the oil and gas industry. We look forward to
drawing on her extensive expertise in strategic development and
planning and corporate communications.”
Ms. DeSanctis has over 40 years of industry experience, most
recently serving as Senior Vice President of Corporate Relations
for ConocoPhillips, where she worked from 2012 until her retirement
in 2022. She previously held various positions relating to
corporate communications and strategic development and planning for
a number of upstream energy companies, including Petrohawk Energy
Corporation, Rosetta Resources, Burlington Resources and Vastar
Resources. Ms. DeSanctis currently serves on the board of directors
of Plains All American Pipeline and as a member of its Audit
Committee and Health, Safety, Environmental and Sustainability
Committee. She also serves as a member of the board of directors of
St. Agnes Academy in Houston and served as past chair of the Girl
Scouts of San Jacinto Council. Ms. DeSanctis has a BA in Geological
and Geophysical Sciences from Princeton University and an MBA from
UCLA.
With the appointment of Ms. DeSanctis, the Board remains
comprised of nine directors, eight of whom are external and
independent.
ABOUT SILVERBOW RESOURCES, INC.
SilverBow Resources, Inc. (NYSE: SBOW) is a Houston-based energy
company actively engaged in the exploration, development, and
production of oil and gas in the Eagle Ford Shale and Austin Chalk
in South Texas. With over 30 years of history operating in South
Texas, the Company possesses a significant understanding of
regional reservoirs which it leverages to assemble high quality
drilling inventory while continuously enhancing its operations to
maximize returns on capital invested. For more information, please
visit www.sbow.com. Information on the Company’s website is not
part of this release.
FORWARD-LOOKING STATEMENTS
This release includes “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
These forward-looking statements represent management's
expectations or beliefs concerning future events, and it is
possible that the results described in this release will not be
achieved. These forward-looking statements are based on current
expectations and assumptions and are subject to a number of risks
and uncertainties, many of which are beyond our control. Important
factors that could cause actual results to differ materially from
our expectations include, but are not limited to, risks and
uncertainties discussed in the Company’s reports filed with the
U.S. Securities and Exchange Commission, including in its Annual
Report on Form 10-K for the year ended December 31, 2022, and
subsequent quarterly reports on Form 10-Q and current reports on
Form 8-K. All forward-looking statements speak only as of the date
of this news release. You should not place undue reliance on these
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20231127113850/en/
COMPANY CONTACT: Jeff Magids Vice President of Finance
& Investor Relations (281) 874-2700, (888) 991-SBOW
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