Crescent Energy Q1 net income $256M; declares $0.12 dividend; announces $600M Eagle Ford bolt-on acquisition

Crescent Energy Co

Adjusted Net Income $54M; Adjusted EBITDAX $232M; Production 137 MBoe/d (43% oil).
Dividend of $0.12 per share, payable June 7, 2023, to shareholders of record May 24.
Agreed to acquire Western Eagle Ford assets from Mesquite Energy for $600M cash; expected close early Q3 2023.
Total liquidity $1.1B; Net LTM Leverage 1.0x; $400M senior notes issued in February.
Annual capex guidance unchanged at $575-$650M; capital investments $202M in Q1.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Crescent Energy Co reported first quarter of 2023 results: net income $256 million, EPS $0.12 per share.

Period: first quarter of 2023
Net income: $256 million
EPS: $0.12 per share
Result: reported results

Exact text from the filing

Crescent Energy Company (the “Company”) announced its financial and operating results for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001866175-23-000024

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