Crescent Energy subsidiary to issue $250M additional 9.25% senior notes due 2028

Crescent Energy Co

Crescent Energy Finance LLC plans $250M private placement of 9.25% senior notes due 2028, additional to $400M issued Feb 2023.
Net proceeds to repay revolver; pro forma outstanding borrowings $790M as of June 30, 2023 after Western Eagle Ford funding.
Preliminary Q2 2023 production 139-144 MBoe/d vs 137 MBoe/d in Q1 2023.
As of Dec 31, 2022, total proved reserves 572,793 MBoe (SEC pricing) with PV-10 of $9.6B; Western Eagle Ford adds 98,249 MBoe.
Derivatives portfolio notional value $1.4B as of June 30, 2023.

item 2.02 item 8.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Crescent Energy Co reported preliminary financial results for the fiscal quarter ended June 30, 2023.

Period: the fiscal quarter ended June 30, 2023
Result: preliminary results

Exact text from the filing

On July 17, 2023, in connection with the Notes Offering (as defined below), Crescent Energy Company (NYSE: CRGY) (the “Company” or “our,” “us,” or “we”) provided certain updated disclosures to potential investors, including certain preliminary operating and financial data for the fiscal quarter ended June 30, 2023, the relevant excerpts of which are set forth below.

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Source: SEC EDGAR

accession 0001193125-23-187687

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