secwatch.observer — SEC 8-K summary
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Issuer:     Crescent Energy Co (CRGY)
CIK:        0001866175
Form:       8-K
Filed at:   2024-09-04T23:59:59+00:00
Accession:  0001628280-24-039228
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 2.02, 8.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crescent Energy to offer $250M of 7.375% Notes due 2033; acquires Central Eagle Ford assets for $168M
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- Offering $250M of 7.375% Senior Notes due 2033 in private placement; proceeds to repay revolver.
- Acquires Central Eagle Ford assets for $168M cash; expected to close late September 2024.
- Acquisition adds ~4,000 Boe/d (85% oil) with ~23% decline rate; includes 30 gross operated locations.
- Crescent expects net debt/Adjusted EBITDAX below 1.5x target; leverage roughly unchanged.
- Notes will be additional series under existing indenture; total $1B of 7.375% Notes outstanding after offering.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866175/000162828024039228/0001628280-24-039228-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866175/000162828024039228/crgy-20240904.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-039228

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