SilverBow Resources Joins Russell Indexes

HOUSTON–(BUSINESS WIRE)–SilverBow Resources, Inc. (NYSE:SBOW) announced today the Company had
joined the broad-market Russell 3000^® Index, the Russell 2000^®
Index and the Russell Microcap^® Index at the conclusion of
the indexes’ annual reconstitution, which became effective after the
market closed on Friday, June 23.

Annual reconstitution of the Russell indexes captures the 4,000 largest
US stocks as of May 12^th, ranking them by total market
capitalization. Membership in the Russell 3000^® Index, which
remains in place for one year, means automatic inclusion in the
large-cap Russell 1000^® Index or small-cap Russell 2000^®
Index as well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.

“We are pleased to have been selected by the FTSE Russell for inclusion
in the Russell indexes,” said Sean Woolverton, CEO of SilverBow
Resources. “As we continue to execute on our strategic plan, we believe
being part of the Russell indexes will help increase investor awareness
and provide additional liquidity to our shares.”

Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for active investment
strategies. Approximately $8.4 trillion in assets are benchmarked
against Russell’s US indexes. Russell indexes are part of FTSE Russell,
a leading global index provider.

About SilverBow Resources

SilverBow Resources (NYSE: SBOW) is a Houston-based energy company
actively engaged in the exploration, development, and production of oil
and gas from the Eagle Ford Shale in South Texas. With almost 30 years
of history operating in South Texas, the Company possesses a significant
understanding of regional reservoirs which we leverage to assemble high
quality drilling inventory while continuously enhancing our operations
to maximize returns on capital invested. For more information please
visit www.sbow.com.

About FTSE Russell

FTSE Russell is a leading global index provider creating and managing a
wide range of indexes, data and analytic solutions to meet client needs
across asset classes, style and strategies. Covering 98% of the
investable market, FTSE Russell indexes offer a true picture of global
markets, combined with the specialist knowledge gained from developing
local benchmarks around the world. FTSE Russell index expertise and
products are used extensively by institutional and retail investors
globally.

Approximately $12.5 trillion is currently benchmarked to FTSE Russell
indexes. For over 30 years, leading asset owners, asset managers, ETF
providers and investment banks have chosen FTSE Russell indexes to
benchmark their investment performance and create investment funds,
ETFs, structured products and index-based derivatives. FTSE Russell
indexes also provide clients with tools for asset allocation, investment
strategy analysis and risk management.

A core set of universal principles guides FTSE Russell index design and
management: a transparent rules-based methodology is informed by
independent committees of leading market participants. FTSE Russell is
focused on index innovation and customer partnership applying the
highest industry standards and embracing the IOSCO Principles. FTSE
Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com

Contacts

SilverBow Resources, Inc.
Doug Atkinson, CFA, 281-874-2700,
800-777-2412
Senior Manager – Finance & Investor Relations