secwatch.observer — SEC 8-K summary
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Issuer:     Crescent Energy Co (CRGY)
CIK:        0001866175
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0001193125-23-133030
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crescent Energy acquires Eagle Ford assets for $600M cash; accretive, expected Q3 close
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- Acquires operatorship and ~50% working interest in Western Eagle Ford from Mesquite Energy for $600M cash.
- Transaction is immediately accretive to cash flow, free cash flow, and NAV; $700M+ proved PV-10.
- Production ~20 Mboe/d (70% liquids) with 12-month decline rate of 17%; nearly doubles operated locations.
- Crescent deposited $60M into escrow; leverage expected to remain below 1.5x after close.
- Board unanimously approved; close early Q3 2023 subject to HSR and customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866175/000119312523133030/0001193125-23-133030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866175/000119312523133030/d196414d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-133030

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