secwatch.observer — SEC 8-K summary
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Issuer:     Crescent Energy Co (CRGY)
CIK:        0001866175
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001866175-23-000052
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Crescent Energy Q2 net income $57M, raises 2023 outlook, closes Western Eagle Ford deal
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- Q2 net income $57M; Adjusted Net Income $25M; Adjusted EBITDAX $225M; operating cash flow $183M.
- Production 139 MBoe/d (+1.5% QoQ); oil & liquids 46% and 60% of volumes; raised FY 2023 production guidance to 143-148 Mboe/d.
- Lowered 2023 capex guidance to $575-625M (down ~10% at midpoint vs. initial $625-700M) on improved efficiencies.
- Closed accretive Western Eagle Ford acquisition; declared $0.12/share quarterly dividend; public float increased to 45%.
- Exited Q2 at 1.1x net LTM leverage; completed $300M notes offering in July, liquidity ~$800M; S&P upgrade.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1866175/000186617523000052/0001866175-23-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1866175/000186617523000052/crgy-20230809.htm
  HTML page:      https://secwatch.observer/filing/0001866175-23-000052

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