Crescent Energy to acquire Vital Energy in all-stock transaction valued at $3.1B

Crescent Energy Co

All-stock acquisition values Vital at ~$3.1B inclusive of net debt; Vital shareholders get 1.9062 Crescent shares per Vital share.
Pro forma ownership: Crescent shareholders 77%, Vital shareholders 23%; deal adds ~$90-100M annual synergies.
Crescent targets $1B non-core divestiture pipeline; combined company to be top 10 independent operator.
Transaction unanimously approved by both boards; targeted close by year-end 2025.
Crescent CEO David Rockecharlie to lead combined company; board expands to 12 with two Vital directors.

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