09:28 AM EDT, 05/22/2024 (MT Newswires) -- (Updates with additional details throughout, MT Newswires' attempts to contact SilverBow Resources ( SBOW ) and Crescent Energy ( CRGY ) for comments in fourth paragraph.)

Alternative asset manager Kimmeridge has withdrawn its independent nominees to the board of SilverBow Resources ( SBOW ) in light of the oil and gas company's pending sale to Crescent Energy ( CRGY ) , according to a press release Wednesday.

"While we are disappointed that SilverBow's board does not appear to have run a comprehensive sales process, our campaign was always underpinned by a strong belief that consolidation is in the best interests of shareholders," said Kimmeridge Managing Partner Ben Dell.

"We are thankful for the overwhelming support of Kimmeridge's slate of independent board nominees from the investment community, which helped catalyze this transaction. We believe that the proposed sale of the company obviates the need for board change at this time," Dell said.

SilverBow and Crescent didn't immediately respond to requests for comment by MT Newswires.