---
schema_version: "secwatch.filing_event.v1"
accession: "0001866175-23-000042"
form_type: "8-K"
ticker: "CRGY"
cik: "0001866175"
company_name: "Crescent Energy Co"
filed_at: "2023-07-10T23:59:59+00:00"
generated_at: "2026-06-13T10:42:40.876851+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CRGY closes $600M Western Eagle Ford acquisition; public float rises to 46%

## Summary
- Closed $600M cash acquisition of operatorship and working interest in Western Eagle Ford assets.
- Acquisition expected to add 19-21 MBoe/d net production and $45-55M capex in H2 2023.
- Revolving credit facility borrowing base reaffirmed at $2.0B; elected commitments $1.3B.
- Pro forma outstanding debt ~$790M; liquidity over $500M.
- Converted ~28M private shares to Class A public shares; public float increased to 46%.

## SEC filing metadata
- accession: 0001866175-23-000042
- form_type: 8-K
- ticker: CRGY
- cik: 0001866175
- company_name: Crescent Energy Co
- filed_at: 2023-07-10T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1866175/000186617523000042/0001866175-23-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1866175/000186617523000042/crgy-20230703.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001866175-23-000042
- JSON: https://secwatch.observer/filing/0001866175-23-000042.json
- Plain text: https://secwatch.observer/filing/0001866175-23-000042.txt

## Key facts
- Debt Financings
  Crescent Energy Co amended credit facility of borrowing base at $2.0 billion and maintained the elected commitments at $1.3 billion with Wells Fargo Bank, National Association at SOFR plus 2.35% to 3.35% or an adjusted base rate plus 1.25% to 2.25%.
  - Instrument: credit facility
  - Principal: borrowing base at $2.0 billion and maintained the elected commitments at $1.3 billion
  - Counterparty: Wells Fargo Bank, National Association
  - Rate: SOFR plus 2.35% to 3.35% or an adjusted base rate plus 1.25% to 2.25%
  - Event: amendment
  source text: other lenders and letter of credit issuers party thereto from time to time. Among other things, the Credit Agreement Amendment included a reaffirmation of the borrowing base at $2.0 billion and maintained the elected commitments at $1.3 billion. The Credit Agreement Amendment also maintains the applicable margin, so that loans under the Credit Agreement will
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866175/000186617523000042/0001866175-23-000042-index.htm
- M&A Transactions
  Crescent Energy Co completed an acquisition involving Javelin EF L.P. for approximately $600 million in cash (closed 2023-07-03).
  - Action: acquisition
  - Counterparty: Javelin EF L.P.
  - Consideration: approximately $600 million in cash
  - Closing: 2023-07-03
  source text: the Seller received aggregate consideration of approximately $600 million in cash, subject to certain customary purchase price adjustments set forth in the Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866175/000186617523000042/0001866175-23-000042-index.htm
- Material Agreements
  Crescent Energy Co amended Fifth Amendment to Credit Agreement with Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer, and the other lenders and letter of credit issuers party thereto.
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent, collateral agent and a letter of credit issuer, and the other lenders and letter of credit issuers party thereto
  source text: On the Closing Date, in connection with the Transaction, Crescent Energy Finance LLC (“Crescent Finance”), a subsidiary of the Company, entered into that certain Fifth Amendment to Credit Agreement (the “Credit Agreement Amendment”), which amended the Company’s existing Credit Agreement, dated as of May 6, 2021
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866175/000186617523000042/0001866175-23-000042-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.