Crescent Energy reports record 2023 production; issues 2024 guidance with 6% growth

Crescent Energy Co

Full-year 2023 net income $322M, Adj. EBITDAX $1.0B; record annual production 149 MBoe/d (+8% YoY).
Q4 2023 net income $140M, Adj. Net Income $53M; record quarterly production 165 MBoe/d with $102M levered free cash flow.
Generated $936M operating cash flow and $310M levered free cash flow for full year 2023.
2024 guidance: production 155-160 MBoe/d (~6% growth), capex $550-625M; fixed dividend $0.12/share, $150M buyback.
Closed two Eagle Ford acquisitions for $850M aggregate; credit rating upgraded (S&P B+/BB-, Moody's).

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.75

Crescent Energy Co reported financial results for the quarter and year ended December 31, 2023.

Period: the quarter and year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 4, 2024, Crescent Energy Company (the “Company”) announced its financial and operating results for the quarter and year ended December 31, 2023.

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Crescent Energy Co filing history →

Source: SEC EDGAR

accession 0001866175-24-000014

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